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English definition of “long-term loan”

long-term loan

noun [C]
 
 
FINANCE
a loan that is to be paid back over a period of time between three and ten years, and sometimes for as long as twenty years: The program makes long-term loans available for purchasing land, buildings, machinery, and equipment. →  Compare medium-term loan , short-term loan
(Definition of long-term loan from the Cambridge Business English Dictionary © Cambridge University Press)
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