loan shark

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Definition

Noun: A person or entity that lends money at extremely high, often illegally excessive, rates of interest, typically to borrowers who are in desperate financial situations and have limited access to traditional credit.

Usage

The term "loan shark" is used to describe an unscrupulous moneylender. It carries a strong negative connotation, implying exploitation and often illegal activity. - It functions as a countable noun (e.g., a loan shark, the loan sharks). - It is often associated with threats or violence for the collection of debts.

Examples
  • Noun:
    • He was trapped in debt after borrowing from a local loan shark.
    • The police are cracking down on loan sharks who prey on vulnerable communities.
    • She had no choice but to go to a loan shark when the bank refused her application.
Advanced Usage
  • "to shark" (verb, rare/archaic): To lend money at exorbitant rates of interest. This verb form is derived from the noun but is not commonly used in modern English.
    • In the 19th century, disreputable lenders would shark the poor.
Variants and Related Words
  • Usurer (noun): A more formal, historical term for someone who lends money at unreasonably high interest rates. While similar, "usurer" can have a slightly less overtly criminal connotation than "loan shark."
  • Predatory lender (noun): A broader modern term that includes not only illegal loan sharks but also legal financial institutions that use deceptive or aggressive tactics to impose unfair loan terms on borrowers.
  • Shylock (noun): A literary allusion from Shakespeare's , sometimes used as a derogatory term for a ruthless moneylender. Its use is often considered offensive.
Synonyms
  • Moneylender (a more neutral term that does not inherently imply illegal or excessive rates)
  • Usurer
  • Predatory lender
Related Idioms and Phrases
  • "In the clutches of a loan shark": To be under the control of or deeply indebted to a loan shark.
    • After losing his job, he found himself in the clutches of a loan shark.
  • "Loan-sharking" (noun): The practice or business of being a loan shark.
    • The gang was involved in loan-sharking and other illegal activities.
Noun
  1. someone who lends money at excessive rates of interest

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