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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]
New York sues loan shark group accused of charging Manhattan’s City Bakery and other small businesses ‘illegal’ rates of up to 820%. María Soledad Davila Calero. March 5, 2024 at 4:06 PM.
An illegal loan shark who goes above legally permitted maximum interest rates is called yamikin, short for Yami Kinyu (闇金融, "Dark Finance"), and many of them lend at 10% for 10 days. Around 14 million people, or 10% of the Japanese population, have borrowed from a sarakin .
Microcredit organizations were initially created as alternatives to the "loan sharks" known to take advantage of clients. [2] Indeed, many microlenders began as non-profit organizations and operated with government funds or private subsidies.
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A loan shark is an individual who loans money at high interest. Loan shark and Loanshark may also refer to: Loan Shark, a 1952 American crime film noir; Loanshark, a 1999 American crime film "Loanshark Blues", a song from the Rory Gallagher album Defender
This page was last edited on 18 March 2006, at 02:52 (UTC).; Text is available under the Creative Commons Attribution-ShareAlike 4.0 License; additional terms may ...
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