FULL RECOURSE LOAN
\fˈʊl ɹɪkˈɔːs lˈə͡ʊn], \fˈʊl ɹɪkˈɔːs lˈəʊn], \f_ˈʊ_l ɹ_ɪ_k_ˈɔː_s l_ˈəʊ_n]\
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A LOAN with repayment that may come from the proceeds of the project/ASSET being financed or the sale of specific COLLATERAL, or from the resources of the borrower if project/ collateral CASH FLOWS prove insufficient. See also RECOURSE, NONRECOURSE, NONRECOURSE LOAN, PARTIAL RECOURSE LOAN.
By Henry Campbell Black
