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loan shark
loan shark
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loansharkings - definition - What is
loansharkings - definition - What is
loan shark meaning
loan shark meaning
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loan sharking definition of : Loan sharking involves taking advantage of the borrower's weak credit or collateral condition. Typically, when a borrower has no option to secure a traditional bank loan , a loan shark does not usually require collateral for a loan, a bank account or even a written loan agreement.A loan shark is a person who – or an entity that – charges borrowers interest above an established legal rate. Often they are members of organized groups offering short-term loans who use ...Loan Shark. A person who lends money in exchange for its repayment at an interest rate that exceeds the percentage approved by law and who uses intimidating methods or threats of force in order to obtain repayment.For example, a loan shark may lend $1000 at a 2000% annualized interest rate, which is against the law in most states. Loan sharks are not financial institutions; indeed they often "collateralize" their loans with threats of violence. Loan sharking often is associated with organized crime. See also: Usury.A loan shark is a person who offers loans at extremely high interest rates, has strict terms of collection upon failure, and operates outside off the street (outside of local authority). The term usually refers to illegal activity, but may also refer to predatory lending with extremely high interest rates such as payday or title loans.Define loan shark. loan shark synonyms, loan shark pronunciation, loan shark translation, English dictionary definition of loan shark. n. Informal One who lends money at exorbitant interest rates, especially one financed and supported by an organized crime network. n informal a person who...Definition of loan shark written for English Language Learners from the Merriam-Webster Learner's Dictionary with audio pronunciations, usage examples, and count/noncount noun labels.Recent Examples on the Web. Adal López, who ran Ooyala’s operations in Guadalajara, now runs Kueski, his own financial technology startup that provides small online loans—an alternative to both banks and loan sharks. — Andrew Selee, Smithsonian, "How Guadalajara Reinvented Itself as a Technology Hub," 13 June 2018 By the early 1960s, DiFronzo was identified by Chicago police as an ...A person who makes illegal loans, usually by charging an extraordinarily high interest rate.For example, a loan shark may lend $1,000 at a 2,000% annualized interest rate, which is illegal in most states. Loan sharks are not financial institutions; they often "collateralize" their loans with threats of violence.Loan sharking often is associated with organized crime.The Sun (2012) I also get money from local loan sharks, but they have higher interest. The Sun (2011) He seems better - until a run-in with the loan sharks makes him anxious again. The Sun (2012) VICTIMS of a vicious loan shark who charged interest of up to 2,500 per cent are to have their debts written off.
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