Farmer Mac works with lenders to make long-term credit available to homeowners and businesses in agricultural and rural communities, including farmers and ranchers.
What is long term credit?
- Money borrowed with a minimum five-year grace period before repayment is due: Long-term credit interest rates are likely to remain unchanged or slightly decline.
- Long-term loans include those for cars, homes, and some types of personal loans. Long-term loans are available to suit both personal and business needs, such as purchasing machinery.
- The most common type of credit in the financial sector is long-term borrowing.
- Long-term financing decreases reliance on any one source of funding and offers more resources and flexibility to fund different capital needs.
- It also enables businesses to spread out the maturities of their debt.
Learn more about long term credit here:
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