long-term loan
Multi-year borrowed money
A long-term loan is borrowed money repaid over an extended period, typically more than one year and often spanning decades.
Mortgages and student loans are common examples.
The longer repayment period means lower monthly payments but more interest paid overall: They took out a long-term loan to finance the expansion.
- mortgageSecured home loan
- fixed rateUnchanging interest percentage
- interest rateCost of borrowing money
- financingProviding capital for purchases
- debtMoney owed another
debt consolidation · repayment · balloon payment · interest · principal · amortization · collateral · credit · credit score · borrowing · installment · bank · lender · equity · obligation · security · down payment · closing costs
- loanslend, borrow, borrower, lender, microloan
- business debtcredit line, line of credit, accounts payable, balloon payment, corporate bond
long-term loanshort-term loan
Borrowed money repaid quickly
payday loan · cash advance · bridge loan · short-term credit · demand loan
long, longer, longest, length, lengthen, lengthy, lengthwise, longish, longing