Nordisk Trust Bank

📘 Loan Types Explained

Non-Recourse Loan: A secured loan where the lender can only claim the collateral if you default. Your other assets and income are not at risk. This is a lower-risk option for borrowers, though it usually requires substantial collateral upfront.

Standard Loan: A personal loan where you are fully liable for repayment. In the event of a default, the lender may pursue your other assets and income. These loans are generally easier to qualify for and have lower collateral requirements.