Vigorish (also known as juice or the vig) is the fee charged by a bookmaker, (or bookie) for a loan on a. Money Line Open Line Heritage Bovada BetOnline YouWager SportsBetting Best Line. If he lent you 1000, you would pay 1150 back regardless of how quickly you pay back the debt; the original 100 plus a 150 "vig". For example, if you were to obtain a Merchant Cash Advance (MCA) of $40,000, you may be presented with a payment breakdown of $16,000 in interest and fees (aka a factor rate of 1. How to find loan sharks online. Financial Terms By: v. " Find the shark's vig. Dollar Loan Center, Henderson, NV. How much will you owe after 2 years? B. How much will you owe after 2 years? B. Go to top. For example, a loan shark may lend $1,000 at a 2,000% annualized interest rate, which is illegal in most states. You pay one of two things, the weeks vig or the principle in full. (Round your answers to the nearest dollar. ca against your home or investment property. Early Christian and Muslim laws actually forbade charging interest (vig) because that was considered usury. 8. Historically, a Vig Loan can be considered an illegal loan ( loan sharks ). Loan sharks also add fees whenever they like. m. They also pressure people into borrowing more money from them to pay off their loan, burying borrowers deeper into debt. Here in Ecuador, loan sharks- or as they’re called locally, chulcos or chulqueros- charge annual interest rates as high as 150 percent (and in the case of our chulco friends in Guayaquil, 791. If you need cash fast and don’t have the best credit, consider the following alternatives before borrowing from a loan shark. A loan shark lends you $90 at 2% compound interest per week (this is a weekly, not an annual rate). The guy was probably professional muscle, a leg breaker who collects vig for a loan shark. He is Jewish and owns a horse farm. 4). Consider these average annual percentage rates (APRs): Loan Shark Vig – Over 500% APR [10] Payday Loans – 500% APR [11] Credit Cards – 15% to 20% APR [12] Personal Bank Loans – 9% to. " Find the shark's vig. You pay one of two things, the weeks vig or the principle in full. ) A commission, finder's fee, or similar extra charge. Conclusion About Loan Shark Harassment In Singapore. My late relative was a loan “shark” so here’s a couple of 3 things: Vig is weekly, and until you pay the whole principle back it doesn’t waiver. What is vig slang for? / (vɪɡ) / Save This Word! noun. Choosing a lender that can make small loans to people with bad credit is a far superior loan shark alternative. A loan shark lends you $70 at 2% compound interest per week (this is a weekly, not an annual rate). We have briefly discussed the implications of illegal and legal. Points are the percentage you pay in interest on a loan ( aka the "vigorish" or "vig"). )(b) In "street" language, the profit on such a loan is known as the "vigorish" or the "vig. So if they loan you $1000 dollars you owe the loan shark $50 every Saturday. Vigorish (also known as juice, under-juice, the cut, the take, the margin, the house edge or the vig) is the fee charged by a bookmaker for accepting a gambler's wager. 2005 , Jeannette Walls , The Glass Castle [4] , published 2010 : Lori said it sounded outright felonious , but Dad said all he was doing was outsmarting the fat-cat bank owners who shylocked the common man by charging usurious interest rates. " Find the sharks vig. Vigorish (also known as juice, under-juice, the cut, the take, the margin, the house edge or simply the vig) is. 1 Typically they provide little or no paperwork or information such as the true level of interest or amount owed, unilaterally increase the debt, impose penalties, retain critically personal documents such as. A Loan Shark is a stock villain who typically loans money at high interest rates and will stop at nothing to get it back. a loan shark lends you $50 at 3% compound interest per week (this is a weekly, not an annual rate. The vig on a typical loan shark loan far exceeds interest rates offered by legal, regulated lenders. " Find the shark's vig. What is a vig loan? Financial Terms By: v. The dangers of loan sharks in the Philippines are very real. $ 1031 X There is no ten percent vig on loan sharking. LOAN ___ shark (usurer) SHYLOCK: Shakespearean usurer VIG: Interest, to a usurer SURE: Certain letters in possession of u sure r INTEREST: Usurer's great concern LOANS: Usurer's offerings AVARICE: Usurer's. LOAN ___ shark (usurer) Advertisement. The usurers persuade borrowers of the legality of their work and don’t reveal the actual activities. A loan shark is an illegal lender that charges high interest rates and may use the threat of violence to collect debt. 1 But these laws provided little effective protection to borrowers. To find the shark's vig, we need to subtract the initial loan amount from the final amount owed: Vig = $2,685. Vigintillion. " 20 Jan 2023 13:18:02When choosing the best lender for a personal loan, you must first take into account the purpose of your loan. Most bank loans charge between 3% to 10% interest rates on. com! Our hilarious and cheeky illustrations will have you swimming with laughter. For example, a loan shark may lend $1,000 at a 2,000% annualized interest rate, which is illegal in most states. $a loan shark lends you $50 at 3% compound interest per week (this is a weekly, not an annual rate. [1] Description The term Vig was initially used in the context of loan sharks or loans made at excessive interest rates. " Find the shark's vig. Let’s go back to the loan sharks now. There are 775 other synonyms or words related to loan shark listed above. A small loan up to $2,500 that you repay over 9-20 weeks. As profitability fell following the change, loan sharks have also tightened their screening process. This Article tests that thesis against the historical record of payday lending in theIt said less than 40% of people borrowing from illegal money lenders had received debt advice and about a third of those seeking advice had not told an adviser they owed a loan shark money. $ 1031 XLearn from my mistakes”””” What mistake did I make”” “” Which company is better than others to get bad credit auto loan? looking for auto loan but have credit problems. On the other hand, payday lenders usually opt for the ethical way by complaining against the defaulters in the credit bureaus. So on the 60k at 2 points you’d be paying $1,200 a week, every week - until you settle the principal in full. View more Borrow like a Shark and save with LoanShark. A borrowing from Russian. Words Ending With. But the vig was a shocking 27% per month and many of the young women quickly fell. WAY more. On this Wikipedia the language links are at the top of the page across from the article title. 00. If someone asks, “What’s the vig on the loan?” what they are really asking is, “How much money are you paying in interest for your loan?” In a world like The Sopranos, however, where loan sharks are. " Find the sharks vig. What does vig mean in numbers? Loan Sharking runs along side gambling, and often a bookie or a card sharp is also a Loan Shark, or Shylock. 36 likes. A loan shark lends you $90 at 1% compound interest per week (this is a weekly, not an annual rate). Financial Service . A loan shark lends you $50 at 2% compound interest per week (this is a weekly, not an annual rate). ) 2009 , Davinia Bostick, The Match , →ISBN , page 91 : Loan Shark: A person or entity that charges borrowers interest above an established legal rate. In the State Investigation Commission hearings on loan sharks, the term “vigorish” has been used by witnesses to refer to the exorbitant interest exacted by the usurers. Return Knock Off (v. (Round your answers to the nearest dollar. Known as “Operation The Vig Is Up," the long-term investigation involved the alleged loan sharking and bookmaking activities of Lucchese “made member” Dominick Capelli, 61, of New Rochelle. 2. so andrew lives in canada and he inquired in regards to finding loan sharks in canada, and his reason for needing a loan makes sense if you look at the data below. Synonyms * vigorish * juice * overround ---- Not English has no English definition. They provide credit to those who are unwilling or unable to obtain it from more respectable sources, usually because interest rates commensurate with the perceived risk are illegal. Vig. in "street" language, the profit on such a loan is known as the "vigorish" or the "vig. Pepperdine Waves Status. A loan shark lends you $80 at 2% compound interest per week (this is a weekly, not an annual rate). Email: reportaloanshark@stoploansharks. When you speak with VIG, you are talking to the decision makers who will inform you right away if your loan is approved. A loan shark lends you $90 at 2% compound interest per week (this is a weekly, not an annual rate). Junk (n. a. Loan Shark. " Find the shark's vig. Nah this is wrong bro it only compounds if you miss the vig. 21 people follow this. If I lend you $10, I expect $10 back. The way the loan shark makes a living is by placing interest on the loan, also known as the “vig” or vigorous. However, because humans love hyperbole, the term "loan shark" may be used to describe payday loan lenders - essentially the last legal resort for people who need cash - the idea is that if you borrow money from them, you don't need a credit check or anything like that, and they give you some high-ish percentage in a lump sum of what you would. A. At the end of the sixth month period, the coin will be forfeited and you will lose all rights to the coin and all rights of ownership. ) Round your answers to the nearest dollars A. TheAngryJerk • 2 yr. Vigintillion. The danger of borrowing from these loan sharks is. heavy: packed, carrying a weapon. Mugs. People are missing a key point that you have to pay the full amount back or you pay the vig each week. If I pay the vig every week the principle does not go up. What is a vig loan? Financial Terms By: v. 61 percent annual compounded), imposing truly unfair and abusive loan terms on borrowers. Jonathan Lewis: The Microfinance Vig 2010. Find the shark's vig. They had the best rate out of any other place. Loan Shark Hanne Jooker, known as the Loan Shark, was a merchant in The Bits district of Novigrad. In the world of lending, there exists a clandestine and dangerous underbelly that preys on vulnerable individuals in dire need of quick cash. It’s basically an “interest only” loan, the payments are purely the vig every week and you just keep paying until you have the principal and can repay it in full. ) $ (b) In "street" language, the profit on such a loan is known as the "vigorish" or the "vig. . In “street” language, the profit on such a loan is known as the “vigorish” or. " Find the sharks vig. Starting mission is saving the Teladi. a loan shark lends you $50 at 3% compound interest per week (this is a weekly, not an annual rate. The company says it is now the country’s third-largest payday-lending chain, with 1,100 stores in 30 states. The bookmaker's mean profit per dollar bet is called vigorish or “the vig. ) Round your answers to the nearest dollars A. loanword, loan word n (term taken from another language) كلمة دخيلة على لغة ما : on loan adv (for temporary use) مؤقتاً : I got the new movie on loan, so I must return it tomorrow. He may also have mob connections, as money-lending is a time-honored means for organized. (Loan-shark racket) Principal and a week’s interest on a loan, plus the interest compounded on the entire debt. a person who charges very large amounts of money for lending money to someone 2. ”. The 1952 B-flick "Loan Shark" , starring George Raft , offers a glimpse of mob payday lending. . '3 points' vig is 3% per week. The Crossword Solver found 30 answers to "like a loan shark", 6 letters crossword clue. China Is a Loan Shark With No Legs Left to Break Beijing’s conversion into a major creditor has upended international finance—and not in a good way. The average illegal moneylender Singapore charges between 20% to 60% per month. The term Vig was initially used in the context of loan sharks or loans made at excessive interest rates. Facts. A seedy lawyer used somebody else’s money. We would like to show you a description here but the site won’t allow us. Loan Shark là gì? Bên cho vay, không phải là các định chế tài chính được quy định thực hiện kinh doanh cho vay tiền với lãi suất cao hơn lãi suất được pháp luật cho phép. A loan shark is a type of predatory lender, often an element of a larger criminal organization, that lends money to borrowers outside the law. loan shark Bedeutung, Definition loan shark: 1. But the vig price they demand is downright criminal. For example, one point on a. Lenders in San Antonio take into account several factors, such as credit score, income and loan duration. A borrowing from Russian. Conversely, a vig of +110 means a $100 wager will result in winnings of $110. However, Illinois has some laws that restrict how much you can borrow, loan terms and more: Maximum amount: $1,000 or 25% of your monthly income, whichever is less. I’ve never heard of anything like this. " The term "loan shark" in recent years has come to mean a money lender who makes illegally high charges to necessitous, ignorant, or gullible wage earners and other persons of moderate income. To use the, perhaps, unfortunate analogy of a bookmaker, the typical ways to charge 10 percent extra on a losing bet called vig or vigorish. Perez (defendant) was a loan shark. That's the interest payment on a loan. The Cashbot Mints are a Cog facility located in Cashbot Headquarters with elevators to each mint situated throughout the train yard and are where Cashbots store large quantities of their money. Vigorish (also known as juice, under-juice, the cut, the take, the margin, the house edge or the vig) is the fee charged by a bookmaker for accepting a gambler's wager. 00 $800. The NCA is an important tool that can be used to protect consumers who enter into a credit agreements with these credit providers who take advantage of vulnerable consumers without complying with. The loan shark may be only too eager to use violence if necessary, either to threaten borrowers, punish late payors, or set an example. PAYDAY ADVANCE. Canva issues soft loans to. Otherwise fly to avarice if that fails. When people are strapped for cash, they may resort to borrowing from unlicensed lenders. By the Numbers: How Loan Shark Interest Rates Compare. a person who charges very large amounts of money for lending money to someone 2. Mugs. “I was absolutely distraught. (Round your answers to the nearest dollar. Beijing needs the vig, and the. Young kid dosen't get it when its read from the book. Herman "Hesh" Rabkin, portrayed by Jerry Adler, is a supporting character on The Sopranos and a close friend and unofficial consigliere to Tony Soprano. We can help you with funding but you’d have to wait for about 14 to 21 days for you to get the funds. The practice of making illegal loans, usually by charging an extraordinarily high interest rate. Loan Sharking. Loan sharks are also snaring victims by posing as friends who simply want to help out with cash loans before ramping up extortionate. , in 1993, has been a longtime friend and supporter of Mr. Loan Shark Alternatives. (Round your answers to the nearest dollar. A vig refers to the interest that is charged on a loan. It doesnt work that way. A loan shark, also known as a money shark, is someone or a group that engages in predatory lending practices outside the boundaries of the law. Contact Loan shark vig on Messenger. How much will you owe after 2 years? B. Now we…Not 'vic' but 'vig' --- short for 'vigorish', slang for the percentage taken by the house out of gamblers' staked money, later adapted to the loan shark meaning you cite. It follows Chili Palmer (Travolta), a Miami mobster and loan. Slang for interest paid on a loan - usually a loan with higher than market interest rates, a so-called loan shark loan. )(a) How much will you owe after 4 years? (Use 52 weeks per year. Posted by FTPoor atDirected by Benny and Josh Safdie, the film follows Ratner (Adam Sandler), a charismatic and eccentric jeweler in the Big Apple's Diamond District, through a series of ill-conceived bets and a sea of ferocious loan sharks until he finally achieves what he always wanted: his big break. Interest, especially excessive interest, paid to a moneylender. What is the vig on a loan? - Quora. However, there is an illegal and dangerous side to lending known as “vig loan. 1. ) Round your answers to the nearest dollars A. 3. They are part of National Trading Standards. Dealing with loan sharks in Singapore is extremely dangerous. John Lescroart. Unfair Debt Collection Practices. There are several ways to describe the vigorish. ) Round your answers to the nearest dollars A. Reminded me of The Wire and an episode in the first season. Maximum finance charge: $15. You can complete our application in about 10 minutes. ) (a) How much will you owe after 4 years? (Use 52 weeks per year. Click the answer to find similar crossword clues . ). goombah: an associate, especially a senior member of a criminal gang. A loan shark person is a person who lends money at exorbitant interest rates and is an American expression first attested from the early 20th century. No-Vig. getting paid on monthly basis. People are missing a key point that you have to pay the full amount back or you pay the vig each week. The rate or amount of such a charge. He fled to Los Angeles before authorities linked him to the crime scene. Me own father left me here in pawn, and never did redeem me. 11/14 vs LIU Sharks-1800: W 53-76: 11/12 vs Lafayette Leopards-505:. uk or text loan shark and your message to 60003. . debt mortgages loan sharks loanshark loansharks loan shark mortgage loans lending money borrowing. What is a vig loan shark - the best way to get money. Save "I crunched the numbers until cautiously opportunistic. can in fact math. Lione, The Crossroads, Midtown Blue Book #2, page 100, The guy was probably professional muscle, a leg breaker who collects vig for a loan shark. These loans often come with high interest rates. 63. How much will you owe after 2 years? B. save. These cartoons are way more shark-tastic than your. Board the. If I buy a house it would be in the $60,000 to $100,000. noun. the means to only pay a a couple hundred bucks a week to is not a good person to loan 25,000k to with over 1k a week vig, but would manage a 5k loan at 200 a week almost indefinitely for example. How do points and the vig work when borrowing from a loan shark? 2 comments. View: Prints. Loan sharks are not financial institutions; they often "collateralize" their loans with threats of violence. - Zips: A derogatory Mafia term American Mafiosi's use for the Sicilian Mafiosi. A person who issues illegal loans, with outrageous interest, and if you don't pay it back over a certain period of time, he a) breaks your legs, b) breaks your face c) kills you. Her business, Ichiban Confections, is constantly in the red. goomar or goomah Americanized form of comare a Mafia mistress . The documentation needed to close a VIG loan is minimal, and our sales team is committed to responding your needs. Not sure of details but a guy offered to make not just a vig payment but pay down the principal and the shark gets very angry at the attempt. " Find the shark's vig. What does the slang term vig mean? Vig definition (slang) A charge taken on bets, as by a bookie or gambling establishment. What is so different about a Fig Loan? In an industry where the normal is 600%+ APR lu. Financial Service. 1. We would like to show you a description here but the site won’t allow us. 2005, F. LOAN SHARK: Usurer Advertisement. Consider the idea of Jewish loan sharks, raising the "vig", or Shylock desiring his pound of flesh. Some banks do charge this level of interest but within many years. The term came to English usage via. Loan shark Someone who issues loans with interest rates above the maximum legal level, often thought to come with threats from the lessor. Loan sharks are loans expensive but come with their benefits. Video of the Day. Welcome to this game's version of the money-making mini-game. $a loan shark lends you $50 at 3% compound interest per week (this is a weekly, not an annual rate. In England, if you think a money lender is operating without being FCA authorised, you can speak in confidence to the Illegal Money Lending Hotline on 0300 555 2222. In some cases, interest and fees can equal the amount you borrow. There's no paying $10k taking the principle down to 90k. a loan shark lends you $50 at 3% compound interest per week (this is a weekly, not an annual rate. This is how banks and lenders make money off of loans. 21 likes. Hesh is a loan shark and an advisor to Tony (the same role he performed for. The series was serialized in Shogakukan's Weekly Big Comic Spirits magazine from May 2004 to May 2019. (Vig is a mob term for interest on loans to a loan shark. This crossword clue might have a different answer every time it appears on a new New York Times Puzzle, please read all the answers until you find the one that solves your clue. Slang for interest paid on a loan – usually a loan with higher than market interest rates, a so-called loan shark loan. (Round your answers to the nearest dollar. It is interest a loan shark charges. American Dream: Directed by Allen H. loan shark - dịch sang tiếng Việt với Từ điển tiếng Anh-Việt - Cambridge DictionaryUnlike shark loans online, we would never threaten you for repayment. ] loved Marco. (Round your answers to the nearest dollar. Urban Dictionary: vig vig 1)the interest payment on a loan paid back to the creditor by a certain percent. A loan shark lends you $50 at 3% compound interest per week (this is a weekly, not an annual rate. That’s $9,401. A loan shark lends you $80 at 3% compound interest per week (this is a weekly, not an annual rate). Such lenders usually trap destitute borrowers who are desperate for immediate cash. The Crossword Solver finds answers to classic crosswords and cryptic crossword puzzles. Program of the Federal Department of Agriculture (For Purchase) of the principal residence. For example, you might be able to pay 1%, 0. 1 Description; 2 Japan; 3 Ireland; 4 Israel; 5 Kazakhstan; 6 Malaysia and Singapore. The image of Jews as sharks has also been around for a long time. How about: $10 gets $11 back? These student loans are seeing people have to DOUBLE and TRIPLE what they borrowed. The way the loan shark makes a living is by placing interest on the loan, also known as the “vig” or vigorous. 5%. People who borrow from loan sharks often. heavy: packed, carrying a weapon. How much will you owe after 2 years? B. ) $ (b) In "street" language, the profit on such a loan is known as the "vigorish" or the "vig. Lending agreements between borrowers and loan sharks all have the following characteristics: a high rate of interest, generally 20 percent per week; a fairly explicit. 21 likes. 8 percent in. ). If charged, loan sharks can face a $5,000 fine, a one-year prison term, or both. (Round your answers to the nearest daliar. 5%. How do Loan Sharks Work? Loan sharking involves taking advantage of the borrower's weak credit or collateral condition. Established on March 13, 2004, Finance House officially started its operations on July 18 of the same year. The Fan -> Save freighter from loan sharks. The guy was probably professional muscle, a leg breaker who collects vig for a loan shark. . 2. What is the origin of the loan shark term 'vigorish', or 'vig'? - Quora. Two points would be two percent of the loan amount, or $2,000. 2. It doesnt work that way. ago. In "street" language, the profit on such a loan is known as the "vigorish" or the "vig. Enter a Crossword Clue. In some cases, a loan shark may be connected to a criminal organization or might at least imply this to intimidate borrowers. In case of non-payment by the borrowers, loan sharks often threaten or harass them. In a surprisingly successful turn of events, Uncut Gems. Dive into a sea of laughter with our loan shark cartoons! These hilarious illustrations provide a refreshing twist on a not-so-funny topic. ) Round your answers to the nearest dollars A. loan shark — see loan shark. High interest rates make it difficult to. How does a Fig Loan affect my credit score? One of the goals for a Fig Loan is to help you. While 12. It’s the vig – the exorbitant interest mob loan sharks take on their money. The Captain loans the Soldier the money at 1% vig, and the Soldier loans it to the other guy at 2 or 3%. Reporting loan sharks makes a difference – to you, your friends and your community. So Patsy goes to Hesh and gets $10,000 to give the client. The client now owe's Patsy $10,000 plus interest, or "vig", which is the reason loan sharks do what they do. willing to pay back R24 000 in 6 month time. borrowing prints loansharks presents bank gifts loan presents loans mugs interest rates prints loan shark mugs loanshark t-shirts debt t-shirts bank loan presents. My name is , we located inA loan shark lends you $$ 100$ at $2 \%$ compound interest per week (this is a weekly, not an annual rate). In 1626, Peter Minuit purchased Manhattan Island from the Native Americans for $24 worth of trinkets and beads. A credit union would help stop people falling prey to loan sharks. Historically, many. up against ‘the Vig’, Dismas must learn the truth behind a seedy loan-shark who provides extortionate interest rates as they act as a front for the mob. [High risk borrowers (who had been late on payments previously) had to agree to more vig on their loan. g. Every sunny days keto acv gummies ree drummond year, 6 million hectares of land in the world are turned into deserts and semi deserts, and 1 billion hectares of land are eroded by wind and water. Each point is 5%, so in this case Nicky is asking for a 15% return in addition to the owing principle. (Vig is a mob term for interest on loans to a loan shark. A typical vig is two points, or 2%. Using a market maker sportsbook, this is what the line would be if. - Young Turk: Mob term for a young defiant Mafia member. ∙ 10y ago. permanent worker. LENDER: Usurer LENDS: Plays usurer SLENDER: Second usurer was thin (7) Advertisement. How much will you owe after 2 years? B. ) (b) In "street" language, the profit on such a loan is known as the "Vigorish or the "vig. gov. It seems to have originated among Yiddish speakers in New York City in the late 19th century, probably deriving from a similar-sounding Russian word. vigorish; juice; overroundSo easy math wise guys loans you 10,000 at 3 points or 30% it’s not a 3,000 a week vig. in "street" language, the profit on such a loan is known as the "vigorish" or the "vig. In England, you can report a loan shark online on the Stop Loan Sharks website. What's the vig ?Loanshark distracted by other issues, VIG accumulates as normal, no other effect -1: VIG paid in full + Modifiers: 2 : Loanshark in a good mood, outstanding and future VIG doubled -2: At least half of Principal paid : 3 : Loanshark in a good mood, outstanding and future VIG doubled +1: Per game payment is past due : 4The bookmaker's mean profit per dollar bet is called vigorish or “the vig. John Lescroart. ) (b) In "street" language, the profit on such a loan is known as the "vigorish. Interest rate and fees works out to be 1400% of the initial loan amount. -Loan sharks. $ A loan shark lends you $50 at 2% compound interest per week (this is a weekly, not an annual rate). Loan amounts from $1,000 to $15,000 + Apply online or at 100+ stores. They will lend large sums of money with the intention of gaining high levels of interest in a short time. However, they’ve forgotten that the 15% interest is compounded. ) (a) How much will you owe after 4 years? (Use 52 weeks per year. If you answer yes to the above, signup now and start receiving offers on your loan request. Template:Page neededTemplate:Page. Loan shark. This term and "illegal lender" are used in that sense in this article. Loan sharks capitalize on this by promising clients with personal loans that don’t require documents and can be disbursed immediately. So to unpack, here's how a legit loan works first, then how a shark loan works: A legit loan lends you money with an interest rate quoted either as an APR (Annual Percentage Rate) or APY (Annual Percentage Yield). ] One point is one percent. NEW YORK CITY — A federal jury took all of 90 minutes to find a mobster guilty of killing a Brooklyn loan shark over $750,000, authorities said. In an American context, some of the most notorious loansharks in the US (before the rise of Italian-American LCN) were Jewish American gangsters. A loan shark is a person or body that offers illegal unsecured loan s at high interest rate s to individuals, often backed by blackmail or threats of violence. Profits obtained by organized criminal groups from other illegal activities such as drug trafficking and migrant smuggling (see Module 3) have been used to make even more money by lending these profits to. While he. Barely a month ago, 237 people, aged 13 to 77, were arrested in a similar 11-day sting operation for acting as. Slang for interest paid on a loan - usually a loan with higher than market interest rates, a so-called loan shark loan. A loan shark may also be called a “ credit shark ” or “vig.