Commercial Real Estate Financing can be either Recourse or Non Recourse:
Recourse Real Estate Financing in the commercial real estate industry applies when Prime Commercial Lending requires the borrower or sponsor to personally guarantee the commercial mortgage for commercial real estate financing.
Non-Recourse Real Estate Financing applies when Prime Commercial Lending does not require a personal guarantee from the borrower for commercial real estate financing.
A Commercial Mortgage is a mortgage loan that requires commercial real estate as collateral to secure the payments. The property collateral must be non-residential, such as a commercial building or business real estate. Commercial mortgages can be recourse or non-recourse. The borrower must make a personal guarantee to pay the debt off in full, even if the property is foreclosed.
See more on Prime Commercial Lending’s Commercial Real-Estate Financing programs, here.