Quick answer
Money is power, and debt is submission to it. Two statements of observed fact, delivered without a single command, and carrying a lifetime of warning between the lines.
Read both lines
Both lines report the same gravity: wealth confers leverage, and the moment a loan is signed, a hierarchy exists. The borrowed money carries the lender's will inside it; the borrower's labor and future are no longer entirely his own. Notice what the verse does not say: it issues no command and forbids no loan; Scripture elsewhere regulates lending and commends generous lenders (Psalm 112:5). It simply reads the contract's fine print aloud. Wisdom's application follows from the naming: enter servitude rarely, briefly, and with open eyes, and treat owing no one as an asset worth protecting.
Related: Proverbs 22:26–27 · Deuteronomy 15:6 · Romans 13:8
New King James Version®, Copyright © 1982, Thomas Nelson. All rights reserved. Full copyright information. Scripture provided by API.Bible.
Go Deeper
If this verse has been used to put weight on you that it was never carrying, ask about it directly.