Depend on the interest rate, really, and any terms of repayment. If it’s lower than the rest of the debt then it’s best to clear off all the higher interest one, then use the rest of the loan to invest in something that will yield higher return than the loan long term. It’s a loan, you really cannot spend it on something that doesn’t have any ROI.
But it’s a loan, not a grant. If you’re paying off debts, you’d surely start with the $1,000,000 one, no?
Depend on the interest rate, really, and any terms of repayment. If it’s lower than the rest of the debt then it’s best to clear off all the higher interest one, then use the rest of the loan to invest in something that will yield higher return than the loan long term. It’s a loan, you really cannot spend it on something that doesn’t have any ROI.