Does Loan Shark Mean?

A loan shark is a person who – or an entity that – loans money at extremely high interest rates and often uses threats of violence to collect debts. The interest rates are generally well above an established legal rate, and often loan sharks are members of organized crime groups.

What does it mean to loan shark someone?

English Language Learners Definition of loan shark

: someone who lends money to people and charges a very high rate of interest.

How does loan shark work?

A loan shark usually has lots of customers and lends money like a business, but their lending is illegal. Loan sharks often take other illegal action to collect the money they've lent you, such as threatening violence or taking away your credit cards or valuables.