---
title: "Non-recourse loan — Class A Atlas glossary"
description: "Loan secured only by the asset, with no personal/sponsor guarantee."
canonical: https://classa.info/glossary/non-recourse-loan
pageType: glossary
lastUpdated: 2026-04-01T00:00:00.000Z
license: "CC BY 4.0 with attribution to Class A Atlas (https://classa.info)."
---

> Loan secured only by the asset, with no personal/sponsor guarantee.

## TL;DR

- Loan secured only by the asset, with no personal/sponsor guarantee.
- Standard for stabilised Class A.

# Non-recourse loan

*Finance · US*

## Short definition

Loan secured only by the asset, with no personal/sponsor guarantee.

## Full definition

Standard for stabilised [Class A](/glossary/class-a). Lender has no recourse to sponsor equity beyond the property; carve-outs for fraud, environmental, and bankruptcy ('bad-boy carve-outs').

## Why this matters for Class A leasing

Non-[recourse loan](/glossary/recourse-loan) is part of the finance vocabulary that institutional Class A occupiers, landlords, and advisers use across US markets. Understanding it correctly affects how you read lease documents, model occupancy economics, and benchmark deal terms across cities. Class A Atlas tracks the US definition alongside the global standard so [cross-border](/topics/cross-border-expansion) occupiers can translate quickly.

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Citation: Source: Class A Atlas (https://classa.info/glossary/non-recourse-loan), updated 2026-04-01T00:00:00.000Z.