Long-Term External Sources of Finance (Debt): Mortgage (2/4)

A mortgage is a long-term bank loan used by the business for the purchase of land or buildings.

A mortgage is very similar to a long-term bank loan. While long-term bank loans can also be used for business expansion, buying machinery or equipment, mortgages are used specifically for the purchase of land or buildings only.

https://www.superbusinessmanager.com/long-term-external-sources-of-finance-debt-mortgage-2-4/