Long-term financing is one of the basic functions of any modern company. It contains a business policy by which the company decides on the management and sustention of funds to ensure it operates successfully. Financing activity is a dynamic process of obtaining and using capital depending on the conditions of its return. Therefore, before deciding on the realization of a business venture, the entrepreneur must determine the amount of necessary investments, make a projection of their profitability, and finally look for the most favorable sources of financing. It is also necessary to explore the possibilities of financing the venture from own sources, and only then consider the possibility of borrowing from external sources, by a loan, with the possibility of repaying borrowed funds to creditors from the future expected income or by issuing securities. However, with each new business venture there is a high risk that the venture will fail, and this is further increased if the venture is financed with external capital. We can view the sources of financing from the perspective of the owner structure (ours or external capital) and the timespan (long-term or short-term capital). The rule is that short-term capital is used only to finance shortterm assets, and that long-term financing is carried out for a period of five years or more, to finance long-term assets. Short-term capital is not intended for the purchase of machinery, means of transport or space. When it comes to long-term loans, borrowings, leasing, etc., the entrepreneur must use them to expand business, and only if he does not have sufficient own funds, nor can additional capital be raised by a new issue of shares, bonds, etc. Some companies never use longterm loans and even reinvest profits rather than borrow from banks, however most of them are forced to finance their business from external credit sources. Therefore, the topic of this seminar paper is a concise overview of long-term business financing and the necessary external sources needed for that.