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.
Popular 'Banking, Commerce & Finance' Terms
non-recourse loan in the news
This content can be found on the following page:
http://www.businessdictionary.com/definition/non-recourse-loan.html







