For example, by extending the payment term from 20 to 30 years, a borrower could pay thousands of dollars more in interest even with the lower monthly payment. (freemoneyfinance.com)
It is an insurance term associated with businesses engaging in trade with customers purchasing with extended payment terms. (growingfamilybenefits.com)
Many small business owners extend payment terms to their clients, or provide goods or services before getting paid. (nav.com)