Are notes payable a short term bank debt?

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1085529

2026-03-29 18:10

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This depends on the terms of the note and where the note is payable to.

There is one main point to take into account to know if the debt is short or long term. The length of the note.

If the note is going to be satisfied (paid off) in one year (or less) then it's classified as a short term debt.

If the note is more than one year then it's classified as long-term.

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