As a result manager Steve Evans has been forced to sell players and prevented from buying new ones.
Winfield told the club website: "A debt-free Crawley in the months ahead is now a very realistic objective."
He added: "I will not hide from the fact that it is my clear intention and that of my co-owners to have Crawley Town Football Club debt-free by the end of the current season.
At present we do not have the finances to deliver the team on the pitch we all want Dave Winfield "That remains very much achievable despite the current financial downturn and this will in turn enable the club to divert income and capital to the current year rather than serving old debts."
Winfield admitted selling players had had an impact on the club's position in the table.
Jon-Paul Pittman, Steve Fletcher, Jake Wright, Danny Bulman, and Jamie Cook have all recently left the club.
"At present we do not have the finances to deliver the team on the pitch we all want but by making the tough decisions lately we can keep players of real quality," Winfield said.
Boss Evans said: "It doesn't stop me from being frustrated and it won't stop me from knocking on his door and asking for players.
"If the result of all this is we get through this period, have a reasonable season and we have a reasonable size budget put in place to give us a chance next season then we're all very much part of the bigger picture."