[non-ree-kawrs, -kohrs, non-ri-kawrs, -kohrs]
a loan for which the borrower cannot be held responsible for any amount in excess of the security for the loan, even if the value of such security falls below the level it had or that had been anticipated for it at the time of the loan.
Loan, Lend, Loaned, and Lent
The words loan and loaned are the present and past tenses of to loan. Lend and lent are the present and past tenses of to lend. As verbs, loan and lend are often used interchangeably. For example, “A bank loans people money to buy a home. It also lends borrowers money to buy a car.” Loan and lend also have identical meanings when they’re used …
What’s a Calque? 9 Loan Translations in English
Read more in this article about some frequently asked questions and fun facts related to our definitions.
Origin of nonrecourse loan
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2019