HomeDefinitionsCompareDebt RecourseThe financial definition for Recourse:Term describing a type of loan. If a loan is with recourse, the lender has a general claim against the parent company if the collateral is insufficient to repay the debt. Similar MatchesNonrecourseNonrecourseIn the case of default, the lender has ability to claim assets over and above what the limited partners contributed. Nonrecourse loanNonrecourse loanA loan taken by limited partners used to finance their portion of the partnership, which is secured by their ownership in the venture. Without recourseWithout recourseGiving the lender no right to seek payment or seize assets in the event of nonpayment from anyone other than the party specified in the debt contract (such as a special-purpose entity). Further SuggestionsWithout Recourse FinancingClick to compare definitions of Recourse Click to view definitions beginning re |