note-shaver

note-shaver

A man is known as a note-shaver for his unfair lending practices.

Definition
  1. Noun (Informal, chiefly US):
    • A person who lends money at exorbitant or excessive interest rates; a loan shark. The term "note-shaver" refers to an individual who engages in predatory lending practices, often discounting or "shaving" promissory notes or other financial instruments to extract high returns from borrowers in need.
Usage Examples
  • (A person lending money at very high interest rates.)
  • (A predatory lender who shaves notes to profit unfairly.)
Advanced Usage
  • "to act as a note-shaver": to operate as a loan shark or engage in usury.
    • The businessman was accused of acting as a note-shaver, preying on desperate families. (To lend money with oppressive terms.)
  • "note-shaver" in historical context: In 19th-century America, a note-shaver was a person who bought promissory notes at a deep discount, effectively lending money at high interest by collecting the full face value later.
    • During the frontier era, note-shavers were common in boomtowns, taking advantage of miners and settlers. (Historical predatory lender.)
Variants and Related Words
  • Note-shaving (n): the practice of lending money at exorbitant rates by discounting notes.
    • Note-shaving was outlawed in many states due to its exploitative nature. (The act of being a note-shaver.)
  • Shaver (n): a person who reduces or cuts something (e.g., a loan shark in informal use).
    • He was known as a shaver in the neighborhood, always offering quick cash at high cost. (A synonym for note-shaver.)
Synonyms
  • Loan shark: a person who lends money at very high interest rates, often illegally.
  • Usurer: someone who lends money at excessively high interest rates (often formal or legal term).
  • Money lender: a general term, but can imply predatory practices in context.
Related Idioms
  • "To shave a note": to discount a promissory note, especially at an unfair rate.
    • The lender shaved the note by 40%, leaving the borrower with little cash. (To reduce the value of a note for profit.)
  • "Pay through the nose": to pay an excessive amount for something, often due to a note-shaver's terms.
    • He paid through the nose for the loan from the note-shaver. (To pay a very high price.)