Tranche

If you take a loan of €100,000 in one sum over 10 years, that's one tranche.

If you divide the same amount and need €50,000 over 5 years and €50,000 over 10 years, those are two tranches.

Sometimes a division can be sensible, e.g., for different periods or if you want to involve the KfW bank. Different tranches can be taken out at one bank or multiple banks.