Explain to Mr. Patrick Lim the differences between long-term or short-term financing

The PSD company, a Public Listed Company has just been awarded a contract to resurface the Pan Island Expressway and requires a sum of $1,500,000 topurchase the lastest technological equipment to increase the efficiency and speed for this job. Mr. Patrick Lim, the Managing Director is tasked with the urgent job of looking for the cheapest source of finance available and has approached you to assist him. As a Financial Controller: 1. Explain to Mr.Patrick Lim the differences between long-term or short-term financing. 2. Advise Mr.Patrick Lim to source for long-term of short-term financing? give reason for your advise? 3. Brief Mr.Patrick Lim on the various types of financing suitable for the purchase of this lastest technological equipment. ***the most important 4. Recommend the types of financing the company should use and why? Must answer the 4question that I provide. Number 3 very and important. And then number 1,2and4.