The primary benefit of recourse financing is that it provides more security for the lender. With a personal guarantee, the lender can seize the borrower's personal assets if they default on the loan. This can be especially beneficial for lenders who are looking to minimize their risk. Additionally, recourse financing can enable an investor to borrow more, as the debt is tied to the borrower's income or total assets.
For more information on non-recourse financing, please see this article and this article.