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The long-term loan usually has a maturity of 3-10 years although long-term bank loans can stretch out as far as 20 years depending on its purpose.
(Note: Not all bank loans are long term as not all are paid over a period greater than a year, an example of this is a bridging loan.) By convention, the portion of long-term liabilities that must be paid in the coming 12-month period are classified as current liabilities.