What's the difference between candidate loan and debt?

Candidate loan: The candidate has a $7,500 loan repayment limit per election.

If out of pocket expenditures made by the candidate are repaid within 21 days, they don't count against the loan repayment limit. This loan repayment limit does not apply to anyone other than the candidate.

• If the expenditures (for candidate or other person) are repaid by the end of the reporting period, they are reported as a straight expenditures and the candidate or person being repaid is the vendor. Describe the item purchased and the original vendor name and address in the description field.
• If the expenditures are outstanding at the end of the reporting period, then they might have to be reported depending on the amount and the amount of time they have been outstanding.

Debt:

• Report debt of more than $1,000 when it: 1) is outstanding as of the last day of the reporting period and has been outstanding for more than five business days in the 30 days before an election; or 2) is outstanding as of the last day of the reporting period and has been outstanding for more than 10 business days during all other times.