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- Dictionaryloan shark/ˈlōn ˌSHärk/
noun
- 1. a moneylender who charges extremely high rates of interest, typically under illegal conditions: informal, derogatory "reports of exploitation and deceptive trading practices by loan sharks"
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Nov 7, 2023 · A loan shark is a person or entity that lends money at extremely high interest rates and uses threats of violence to collect debts. Learn how loan sharks differ from payday lenders and other alternative lenders, and why you should avoid them.
The meaning of LOAN SHARK is one who lends money to individuals at exorbitant rates of interest.
a person who charges large amounts of interest for lending money to someone, especially when their financial position means they cannot borrow money from a bank: Loan sharks target those with bad debt records because they may have difficulty getting loans from the usual sources.
A loan shark is a person who offers loans at extremely high or illegal interest rates, has strict terms of collection, and generally operates outside the law, often using the threat of violence or other illegal, aggressive, and extortionate actions when seeking to enforce the satisfaction of the debt. [1] .
Feb 6, 2024 · A loan shark is an unlicensed lender. Their lending practice is predatory, often targeting borrowers with bad credit history, offering very bad terms, and using threats and violence to collect debts. Two known predatory lending practices in the Philippines are 5-6 loans and sangla ATM.
Feb 9, 2023 · A loan shark is a person who lends money at an unlawfully high rate of interest or who threatens violence to collect debt payments. Loan sharks are predators who make extortionate extensions of credit to enrich themselves in violation of state or federal laws.
Apr 4, 2024 · Loan sharks are illegal lenders who threaten and use violence to get their money back. Though loan sharks are less prevalent, vulnerable people still fall victim to...
