How does the loan offer/demand matching algorithm work?

Currently I see 13 VIR BTC loans, totaling 986.79 BTC. They're listed as having a maximum lending time of 0 days. Does that mean there's no limit on the lending time, or is the lending time of VIR loan offers just hidden?

I assume that if I offer a loan with a longer maximum lending time than another offer at the same interest rate, my offer will be taken first? What if both offers have the same max time?