Meaning of nonrecourse loan
Pronunciation: (non-rē'kôrs, -kōrs, non"ri-kôrs', -kōrs'), [key]
— Finance. 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.