Non-Recourse Loan

January 24, 2014  |     |     |   0 Comment

A non-recourse loan is a loan secured by collateral, and if the borrower defaults, the creditor can only seek financial damages from that specific collateral, and no other assets owned by the borrower. Thus the borrower has limited liability exposure.

This differs from a recourse loan in which the creditor can go after other assets owned by the borrower to cover the debt owed.


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