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Recourse vs Non-Recourse Loan
A Recourse Loan is a type of financing involving an agreement by which the lender has recourse to the borrower’s general credit, person, and property. In the event of a default or breach of contract, the lender may have recourse to all or part of these three elements.
Non-recourse loans are usually issued to companies and individuals for large asset purchases (i.e., machinery and real estate) – in order to avoid making a loan which they would have to take back if the borrower defaults.
Non-recourse financing is attractive to the borrower because it involves much less risk than other types of loans, but also significantly higher interest rates.
Non-Recourse Loan Benefits
Non-Recourse Loans are ideal for large asset purchases due to the fact that lenders will only ever recover value of the security in case an asset is not performing as planned. Non-Recourse Loans are also preferable to traditional loans when borrowers meet the following conditions:
1) Non-recourse financing limits borrower liability
2) Non-recourse financing allows for the use of assets as collateral
3) Non-recourse financing provides greater flexibility when repaying loans
Who Can Apply for Non-Recourse Loan?
Non-recourse loans are usually issued to companies and individuals for large asset purchases (i.e., machinery and real estate) in order to avoid making a loan which they would have to take back if the borrower defaults.
Non-recourse financing is attractive to the borrower because it involves much less risk than other types of loans, but also significantly higher interest rates.
Non-recourse loans usually follow certain criteria as well as a clear lending process that requires approval from several different parties. Non-Recourse Loans are ideal for large asset purchases due to the fact that lenders will only ever recover value of the security in case an asset is not performing as planned.
How to Qualify for Non-Recourse Loan?
Non-recourse loans are usually issued to companies and individuals for large asset purchases, such as machinery and real estate.
Non-recourse financing is attractive to the borrower because it involves much less risk than other types of loans, but also significantly higher interest rates.
Non-recourse loans usually follow certain criteria as well as a clear lending process that requires approval from several different parties.
It is ideal for large asset purchases due to the fact that lenders will only ever recover the value of the security in case an asset is not performing as planned.
Process of Filing for Non-Recourse Loan
The Non-Recourse Lending Process typically involves the following steps:

Step One
The Non-Recourse Lender must conduct a detailed underwriting process in order to determine that issuer will be able to finance the borrower based on its future performance.
Step Two
The Non-Recourse Lender approves the initial loan documents and negotiates the specifics of the security instrument with the borrower.
Step Three
Non-Recourse Loan Transaction is reviewed and approved by Non-Recourse Lender’s internal credit, legal and compliance departments as well as outside counsel.
Step Four
Non-Recourse Loan Transaction is reviewed for final documentation.
Step Five
Non-Recourse Loan Transaction is submitted for approval to the appropriate Non-Recourse Lender’s committee or board.
Step Six
Non-Recourse Loan Transaction is closed.
Elements of Filing for Non-Recourse Loan
The Non-Recourse Lending Process typically involves the following elements:
- Non-Recourse Lender performs due diligence to assess risk
- Completion of loan documents by Non-Recourse Lender and Borrower
- Non-Recourse Loan is originated
- Non-Recourse Lender secures Non-Recourse Loan with collateral
- Non-Recourse Lender disburses Non-Recourse Loan
- Maintenance of Non-Recourse Lender’s interest in the Non-Recourse Loan through regular payments and compliance with all conditions to closing.
Risks of Non-Recourse Loan
Non-Recourse Loans usually follow certain criteria as well as a clear lending process that requires approval from several different parties.
Non-Recourse Loans are easy, quick, and efficient, but it is important to remember that they do not allow for debt restructuring in case of an economic crisis. They are well suited for large asset purchases such as machinery and real estate.
Here are some of the risks involved in Non-recourse loans:
- Non-recourse loans are typically larger transactions. It is important to get a Non-recourse lender that has the ability and willingness to fund such a transaction.
- Non-recourse lenders require cash flow in order to maintain Non-Recourse Loans.
- Non-Recourse Lenders will only ever recover the value of the security in case an asset is not performing as planned.
- Non-recourse loans do not allow for debt restructuring in case of an economic crisis and thus Non-Recourse Lenders are typically stricter when it comes to Non-recourse loan qualifications.
- Non-recourse loans are easy, quick, and efficient but Non-recourse lenders require strict compliance with all conditions to closing. Non-Recourse Loan Application
- Applicants can qualify for Non-Recourse Loans in many cases by showing strong financials and cash flow.
Key Takeaways
Non-recourse loans can be used for large assets like machinery and real estate. Non-recourse loans are easy, quick, and efficient but Non-recourse lenders require strict compliance with all conditions to closing.
Applicants can qualify for Non-Recourse Loans in many cases by showing strong financials and cash flow.