Covenant-Lite Loans

These are loans that give the borrower a lot of power. Rather than getting screwed by the bank (or whatever lender) when taking out a loan, using cov-lite loans provides more money, better terms and flexibility, and the like.

Obviously, if you defaulted on your 2000 Toyota Camry loan, no one is going to give you one of these. They are given to the corporations and rich dudes who are not a big risk.