Home > Glossary > Non-recourse Loan (United States)
Meaning / Definition of
Non-recourse Loan (United States)
Categories: Economics,
The non-recourse loan is the major instrument used by the commodity credit corporation to support the price of programme crops. The loan is non-recourse because the Government has no option but to accept forfeiture of the crop in full satisfaction of the loan obligation, even when the market price of the commodity is below the loan rate.
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