Intro: How To Install An Electric Fence. For gardeners everywhere, the race to gather the harvest before animals do can be frustrating. Luckily, there is hope. Electric fences help provide a barrier around your garden ...
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.
Types of Long-Term Debt. Overview. In the business world, long-term debt is money that is owed to lenders for a period of more than one year from the date of the current balance sheet. Long-term debt converts to short-term debt when the period left until the debt must be repaid becomes less than one year with the passage of time. Individuals who finance the purchase of high cost items, such as cars, for terms lasting more than a year are also taking on long-term debt obligations.