Donald Trump won’t have to deal with the corporate death penalty after all.

On Friday, a New York judge decided not to give the former president the toughest penalty in a civil case. The case claimed Trump gave false financial info to get better loans and perks. But Trump still faced serious consequences, including significant fines, oversight of his companies, and restrictions on borrowing.

Last year, before the trial began, the same judge warned that he might shut down a significant portion of the business owned by the Republican presidential front-runner. He discussed the possibility of dissolving the corporate entities that hold many of Trump’s well-known properties. This sparked concerns that properties such as Trump Tower and a Wall Street skyscraper could be sold off.

New York Supreme Court Judge Arthur Engoron decided against dissolving the Trump Organization. Instead, he opted to appoint two monitors to oversee the organization and prevent it from providing false information.

“It’s a significant change,” noted real estate lawyer Adam Leitman Bailey. “Being required to sell assets is vastly different from having someone monitor your actions.”

In his ruling, Judge Engoron prohibited Trump from serving as an officer or director in any New York corporation for three years. He also barred Trump from obtaining loans from New York banks and mandated that his company and other defendants pay hundreds of millions of dollars in fines.

Here’s how the decision is expected to impact his business:

Trump Faces Financial Blow.

Donald Trump and his businesses have been hit hard with a $364 million penalty for questionable business practices. This includes hefty fines for Trump’s sons, Eric and Donald Jr., and their former chief financial officer. Additionally, Trump is facing another $88 million in lawsuits related to allegations of sexual abuse and defamation.

Adding to the financial strain, Trump is also on the hook for $100 million in interest payments. Despite plans to appeal, the looming legal bills are a significant concern for Trump’s finances. Although Trump claims to have more than $400 million in cash, the outcome of these legal battles remains uncertain, potentially complicating his financial situation further.

Trump Escapes Property Sell-Off Threat.

There were worries that Trump’s businesses might have to sell properties like his New York buildings and Mar-a-Lago club in Florida. Trump’s lawyer called it a “corporate death penalty.”

But, in the end, the judge didn’t go that far. Instead, they chose other punishments like bans and monitors. So, while there were concerns, Trump’s businesses won’t have to sell everything off.

Trump Faces Three-Year Ban from Leading NY Companies.

Trump won’t be able to run any New York company for three years. Even though he owns them, he can’t hold an official position. But, he can still have influence behind the scenes.

A law expert says Trump might meet resistance if he tries to control things secretly. Also, his sons, who could help, can’t lead New York companies for two years.

Trump Barred from NY Bank Loans.

Trump’s out of luck when it comes to borrowing from New York banks. This could be a big problem since many major banks are based there.

However, Trump has been working on reducing his debts, so he might not need to borrow as much. He’s also bought himself more time to pay back some loans.

But without bank loans, it could be tough for him to finance future projects. He might have to use his own money, which isn’t his preferred option.

The good news is, he can still turn to other lenders like private equity or hedge funds. These options might be open to him even if banks aren’t. And some experts think foreign investors, like the Saudis, might be willing to lend him a hand too.