Cambridge Dictionaries online Cambridge Dictionaries online

The most popular online dictionary and thesaurus for learners of English

  

English definition of “non-recourse”

non-recourse

adjective [before noun] (also nonrecourse)    
FINANCE used to describe a loan in which the lender has the right to take only the asset bought with the loan if it is not paid back, and does not have the right to take any other assets : non-recourse debt/loan/mortgage They financed the $1.2 million purchase with a non-recourse loan .
(Definition of non-recourse adjective from the Cambridge Business English Dictionary © Cambridge University Press)
Focus on the pronunciation of non-recourse

Word of the Day

amicable

relating to behaviour between people that is pleasant and friendly, often despite a difficult situation

Word of the Day

Blog

Read our blog about how the English language behaves.

Learn More

New Words

Find words and meanings that have just started to be used in English, and let us know what you think of them.

Learn More