Nordisk Trust Bank

📘 Understanding Non-Recourse Loans

Non-Recourse Loan: A secured loan where the lender can only seize the collateral if you default, but cannot pursue your other assets or income. Lower risk for borrowers, but typically requires substantial collateral.

Standard Loan: Traditional loan where you're personally liable for repayment. If you default, the lender can pursue all your assets and income. Generally easier to qualify for with lower collateral requirements.