Terms Beginning With 'r'

Recourse Loan

  • January 18, 2020
  • Team Kalkine

A Recourse Loan is basically defined as a type of loan that assists a lender to retrieve a defaulted sum from a defaulter or a borrower who fails to pay back its liabilities. A Recourse Loan allows the lender to go for the liquidation of another asset of the borrower in case the collateral submitted by the borrower is not enough to recover the lend amount.

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