Okay, to do this I'm going to tell you a story, alright? we're going to have the people... bob and brian. Now bob is poor. Last week, he needed money so he went to brian, who offered him a hundred dollars, no more and no less. So Bob took the deal. One week later, brian comes around and asks for his hundred dollars back, plus 20 dollars interest (that's a HUGE amount!) but bob doesn't have the money. So brian says that bob doesn't have to pay this week, but will need to pay a total $200 next week. Now if bob can't pay off the money that he got plus the extra twenty, how should someone expect to get him to pay off $200? That's a loan shark: They lend money and then charge gargantuan interest rates which pile up continuously until they hit a point where the person can't pay anymore and spends the rest of their life paying the bill or goes and commits suicide or leaves the country (loan sharks aren't just in america...) Cruel world...
A loan shark is a private moneylender who operates outside of mainstream financial institutions and extends loans primarily to people who are unable to access these services through conventional methods. Due to the high risk of default and the illegality of their operations in many areas, loan sharks typically charge relatively high rates of interest compared to banks or credit unions.
However, despite their reputation as being "predatory" lenders, their interest rates are often lower than those of the (legal) payday lenders, who are the primary alternative for those who are unable to access conventional loan sources. Loan sharks also tend to be more flexible about negotiating with borrowers and will not subject applicants to credit checks, employment verification checks, citizenship verification, disclosure of taxpayer identification numbers, and various other hassles that present obstacles for people who are unable or unwilling to comply with these requirements.
Although they have a generally unfavorable reputation in popular folklore, actual violence by loan sharks is rare; however, they have been known to employ harassment or humiliation tactics against borrowers who do not repay their loan amounts within a reasonable period of time. Sometimes they will seize property from delinquent debtors if other methods of collection have failed and the risk of default is imminent.
Loan sharks tend to proliferate in urban areas where there are large numbers of people with steady wages and modest incomes. They also cater to immigrant communities who have a significant population of workers who are not documented citizens and are therefore ineligible for most conventional loans.
A Private hard money lender is what is considered to be a loan shark. This should be your very last resort in obtaining a loan. It is a very risky entitity to get involved with a loan shark.
you shouldn't bother, because you're not going to be taking loans from a loan shark. go to bank of america, jeez!
A loan shark is someone that lends people money that would not normally be able to get a loan from a bank due to bad credit ratings. So the reason that a loan shark will often target people with poor credit, is because the person is in desperate "need" of the money.
Interest from a loan shark is the "Vig" or "juice" as it was called. Vig is short for Vigorish.
email me lisa_jensen23@yahoo.com
"A loan shark is a person who loans money with a high interest rate. Usually, the borrower is a person who cannot get a loan from a regular bank or other money-lending entity. A big loan shark could refer to the amount of money that the loan shark can offer, for example, one million dollars, rather than one thousand."
Loan shark
Ushijima the Loan Shark was created in 2012-08.
probably in the ocean if you really want to get killed by a loan shark
of course, that's how they live in the ocean
loan shark
Loan Shark
if they give you money then you have to pay them back that is that question
The Clutches of the Loan Shark - 1912 was released on: USA: 11 June 1912
The Loan Shark King - 1914 was released on: USA: 8 October 1914
The Loan Shark - 2011 is rated/received certificates of: Hong Kong:IIB Singapore:NC-16
The cast of The Loan Shark - 2011 includes: Jojo Goh as Ah Mun