What does "nonrecourse" mean?

Of or pertaining to a form of financing, typically debt financing, in which the lender's recourse to recovery in the event of default is limited to the collateral asset only.

Nonrecourse

adj

adj ·Rare ·Advanced level

Definitions

Adjective

1
Of or pertaining to a form of financing, typically debt financing, in which the lender's recourse to recovery in the event of default is limited to the collateral asset only. not-comparable
"nonrecourse loan"

Etymology

From non- + recourse.

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Data sourced from Wiktionary, WordNet, CMU, and other open linguistic databases. Updated March 2026.