non-recourse loan

  

Definition

Loan agreement under which the collateral securing a loan is the ultimate source of repayment, and the lender cannot hold the borrower personally liable in the event of a default. The lender can seize (and sell) the collateral but cannot seize non-pledged asset or property. See also recourse loan.

Related Videos




http://www.businessdictionary.com/definition/non-recourse-loan.html

Have a question about non-recourse loan? Ask for help in the
Community
advertise here

Browse by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z