What are the advantages and disadvantages of short term debt over long term debt?

Short-term debt typically offers lower interest rates and greater flexibility, allowing businesses to quickly access capital for immediate needs. However, it also entails higher repayment frequency, which can strain cash flow and increase financial risk if not managed properly. Long-term debt, while providing stability and spread-out repayment schedules, often comes with higher interest costs and less flexibility. Ultimately, the choice between the two depends on a company's financial strategy and cash flow situation.