In borrowing, there are two types of debts, recourse and nonrecourse. Recourse debt holds the person borrowing money personally liable for the debt. If you default on a recourse loan, the lender will ...

Promissory notes are used in a variety of transactions and can be used by small business owners to fund business activities. If your lender requires you to sign the promissory note in your own name, ...

With recourse factoring, you're responsible for the debt if your customers don’t pay. With non-recourse factoring, the factoring company accepts the loss for nonpayment. Many, or all, of the products ...

In the world of multifamily financing, a non-recourse loan is considered to be the gold standard for acquisition financing because they are considered to be less risky for the borrower. Typically, ...

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Thomas J. Brock is a CFA and CPA with more than 20 years of experience in various areas ...

Ken Clark has co-managed over $100 million in retirement accounts and is the author of The Complete Idiot's Guide to Getting Out of Debt. A recourse loan lets a lender claim the collateral and the ...

A non-recourse loan is a type of debt that’s secured by collateral, such as an individual’s car, house or another typically illiquid asset. By securing a non-recourse loan, the lender won’t have the ...