| Financial & Investment Dictionary: Recourse Loan |
1. Loan for which an endorser or guarantor is liable for payment in the event the borrower defaults.
2. Loan made to a Direct Participation Program or Limited Partnership whereby the lender, in addition to being secured by specific assets, has recourse against the general assets of the partnership. See also Nonrecourse Loan.
| 5min Related Video: Recourse Loan |
| Business Dictionary: Recourse Loan |
1. Loan for which an endorser or guarantor is liable for payment in the event the borrower defaults.
2. Loan made to a direct participation program or Limited Partnership whereby the lender, in addition to being secured by specific assets, has recourse against the general assets of the partnership. See also Nonrecourse.
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 | Financial & Investment Dictionary. Dictionary of Finance and Investment Terms. Copyright © 2006 by Barron's Educational Series, Inc. All rights reserved. Read more |
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| Business Dictionary. Dictionary of Business Terms. Copyright © 2000 by Barron's Educational Series, Inc. All rights reserved. Read more |
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