Dictionary.com

nonrecourse loan

[ non-ree-kawrs, -kohrs, non-ri-kawrs, -kohrs ]
/ nɒnˈri kɔrs, -koʊrs, ˌnɒn rɪˈkɔrs, -ˈkoʊrs /
Save This Word!

noun Finance.

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.

QUIZZES

THINK YOU’VE GOT A HANDLE ON THIS US STATE NICKNAME QUIZ?

Did you ever collect all those state quarters? Put them to good use on this quiz about curious state monikers and the facts around them.
Question 1 of 8
Mississippi’s nickname comes from the magnificent trees that grow there. What is it?

Origin of nonrecourse loan

Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2021

Example sentences from the Web for nonrecourse loan

See Today's Synonym