English Idiom – Loan shark
Meaning – Someone who lends people money and charges them an extremely high rate of interest. A loan shark is usually dishonest and sometimes they will threaten violence if the money is not repaid on time. A loan from a loan shark is often illegal.
- This phrase is used when you do not approve of the person lending money.
- A loan is a sum of money. When you receive a loan you usually have to pay some percentage extra (usually by year) to the person or organisation you are borrowing money from. This is known as interest. Interest from a bank (or similar) is usually a few percent. Interest from a loan shark could be hundreds or even thousands of percent!
- Borrowing money from a loan shark to pay off other debts would be an example of robbing Peter to pay Paul.
When could you use this idiom?
- You are warning someone not to borrow money.
- A dishonest person is trying to lend you money.
- Somebody you know is being chased over the money they owe.
- You are looking to borrow money at a reasonable rate, but fear you are being charged too much interest.
- “Lisa borrowed a lot of money from a loan shark last year. Now she is in even more debt and the loan shark is threatening her!”
In The News:
- Is there an idiom like this in your country?
What is an idiom?
An idiom is a word or phrase that is not taken literally. An idiom is an expression that cannot be understood from the meanings of its individual words, but has a separate meaning of its own.