Explanation:

A loan that never goes away may seem like a nightmare, but it can be quite beneficial if used properly. These types of loans are known as “evergreen.” While not everyone will qualify for this type of loan, a borrower who shows consistently strong financial performance can renew his loan every year until it is no longer needed.
An evergreen loan is also known as a revolving loan. This means you can use it, pay the money back and use it again. The loan is reviewed by the lender annually. If you meet the criteria for renewal, the loan is continued. This can go on indefinitely until you or the bank decide to cancel the loan.