recourse loan

Recourse Loan

A loan for which there is a co-signer. That is, if the borrower defaults on the loan, the co-signer becomes legally liable for repayment. Thus, in addition to any collateral that may or may not secure the loan, the lender is further protected from default by the existence of the co-signer. See also: Non-recourse loan.

recourse loan

A loan in which the lender can claim more than the collateral as repayment in the event that payments on the loan are stopped. Thus, a recourse loan places the borrower's personal assets at risk. Compare nonrecourse loan.
References in periodicals archive ?
0 million limited recourse loan secured by the JW Marriott Essex House hotel.
The company has acquired a USD85m limited recourse loan, secured by its InterContinental Miami hotel.
One suggested approach would be that by not subjecting the deduction attributable to a member recourse loan to the partner nonrecourse debt rules, the LLC is free to allocate these deductions pursuant to the general sharing ratio under the partnership agreement.
In non-recourse loans, some "bad boy" provisions have the effect of converting the non-recourse loan to a full recourse loan such that the borrower becomes liable for the full amount of the loan.
UPC Wind Partners LLC today announced the closing of the first limited recourse loan facility in connection with Clipper Turbine Works Inc.
0m limited recourse loan secured by the InterContinental Miami hotel, the company said on Tuesday.
3m) limited recourse loan participation notes (LPNs) of Ireland-based CBOM Finance plc.
Fitch Ratings has assigned its expected long-term 'BBB+' rating to VTB Capital SA's planned issue of US dollar-denominated limited recourse loan participation notes.
Petunia, a New York limited partnership, purchased from the Venture Company computer equipment that had been involved in four prior sales transactions, subject to a user lease, a recourse loan and a security agreement.
CBL also closed a recourse loan secured by The Promenade in D'Iberville, MS, with a three-year initial term and two two-year extension options.
13 April 2011 - Fitch set yesterday an expected BB(exp) to the forthcoming USD senior issue of limited recourse loan participation notes of Alfa Bond Issuance plc.
1m) senior limited recourse loan participation notes.