4). TL;DR - the thing that makes a mob loan a particularly "bad idea" is that the vig is interest-only, rendering the "interest rate" to somewhere north of 100% on every dollar borrowed. 5. Consider the idea of Jewish loan sharks, raising the "vig", or Shylock desiring his pound of flesh. ) Round your answers to the nearest dollars A. Vig Slang for interest paid on a loan - usually a loan with higher than market interest rates, a so-called loan shark loan. 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. Must be eligible by Max Family Income: (1-4 members) $103,500 of (5-8 members) $136,000. How much will you owe after 2 years? B. To calculate that amount, multiply 1% by $100,000. Enter the length or pattern for better results. John Dahl directed this exploration of New York private clubs devoted to high-stakes poker, with first-person narration from the film's central figure. Loan sharks sound like an extremely risky measure especially when there’s different avenues you can take to generate the capital you need to start up. What is a vig loan? Financial Terms By: v. In our example, 11 + 11 = $22 is bet, and the bookmaker wins $1 so the vig is 1/22 = 4. 21 likes. It was last seen in Daily quick crossword. 2. If I pay the vig every week the principle does not go up. willing to pay back R24 000 in 6 month time. Erlking -> Fly near VIG Keepsafe in Windfall III The Hoard. A unit of quantity equal to 10 63 (1 followed by 63 zeros). A loan shark lends you $50 at 2% compound interest per week (this is a weekly, not an annual rate). $We would like to show you a description here but the site won’t allow us. 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. What is so different about a Fig Loan? In an industry where the normal is 600%+ APR lu. The client now owe's Patsy $10,000 plus interest, or "vig", which is the reason loan sharks do what they do. Sactino gets no "new money"; he. What is Vig? Meaning of Vig as a finance term. “I was absolutely distraught. Historically, a Vig Loan can be considered an illegal loan ( loan sharks ). It is often expressed as a percentage of the loan amount and is used to compensate the lender for the risk of lending the money. ETYMOLOGY: Yiddish slang, from Russian vyigrysh, winnings : vy-, out; see ud- in Appendix I + igrat’, to play. Starting mission is saving the Teladi. ) Round your answers to the nearest dollars A. 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. For that payment to make sense, you need to benefit by more than $1,000. The Crossword Solver found 30 answers to "USURER", 5 letters crossword clue. Someone who lends money at excessive rates of interestLoan sharks vig. Vigorish (also known as juice, under-juice, the cut, the take, the margin, the house edge or simply the vig) is. Mugs. Loan shark interest rates are extremely high, sometimes up to 300-400% interest on the loan. How much will you owe after 3 years?. It is also called shy. ) (a) How much will you owe after 4 years? (Use 52 weeks per year. Enter the length or pattern for better results. You pay one of two things, the weeks vig or the principle in full. What is a loan shark’s vig also worth asking? What is the origin of the term “vigorish” or “vig” used by loan sharks?. Slang for interest paid on a loan - usually a loan with higher than market interest rates, a so-called loan shark loan. Consider the idea of Jewish loan sharks, raising the "vig", or Shylock desiring his pound of flesh. uk. For a repayment rate of 3 months, your APR will end up being. A loan shark is a person or company that offers loans at very high interest rates and uses blackmail and threats to collect debts. While in L. While he. Click the answer to find similar crossword clues . This answer is:A loan shark is a person who lends money at an unlawfully high rate of interest or who threatens violence to collect debt payments. While this may sound good at first, a. VIG PRIVATE LENDING focuses on making loans simple for our borrowers. ) Round your answers to the nearest dollars A. There's no paying $10k taking the principle down to 90k. ) Round your answers to the nearest dollars A. Contact Loan shark vig on Messenger. In the world of lending, there are legitimate institutions that offer loans to those in need. A loan shark offers easy credit to borrowers at unreasonably high interest rates. A borrowing from Russian. 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. So with loan Sharking in the show, say you take out a $60,000 loan at 2 points (percent) so you pay $1,200 a week until you pay pack the $60,000 but, my question is do you just pay back $60,000 and the idea is you can’t pay $1,200 a week so it gets tacked on making it $61,200 I have to pay back, so the new vig is $1,224 and I miss so many payments. Enter a Crossword Clue. Yes, you can get a payday loan in Chicago. 2. a loan shark lends you $50 at 3% compound interest per week (this is a weekly, not an annual rate. Interest rate and fees works out to be 1400% of the initial loan amount. Community See All. On your $1000 bet, he’d get $20 for his efforts. Loan Shark Gifts. That’s one-hundred-and-eighty-nine percent interest! Using their loan example of a $2500 loan paid back over 12 months, you borrow $2500 and you pay back $11,901. T-Shirts. Email: reportaloanshark@stoploansharks. What to do if you owe money to a loan shark. 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 motive DEBTOR. OK, there are some making it a business. People are missing a key point that you have to pay the full amount back or you pay the vig each week. The guy was probably professional muscle, a leg breaker who collects vig for a loan shark. 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. From "vigorish". (Round your answers to the nearest dollar) (a) How much will you owe after 3 years? (Use 52 wecks per year. gov. ” In our example, 11 + 11 = $22 is bet, and the bookmaker wins $1 so the vig is 1/22 = 4. Program of the Federal Department of Agriculture (For Purchase) of the principal residence. We will try to find the right answer to this particular crossword clue. "Supra note 9. A loan shark is a person, normally within a professional network or organized crime group, who provides loans at high interest rates. Loan sharks lure unsuspecting victims by promising to lend them high amounts of money under seemingly unbelievable terms. Houses where I live, Nebraska, are cheap compared to many other states and can get a decent 2–3 bedroom 1 bathroom house for $80,000. This can be a fixed rate or a variable rate, depending on the terms of the loan. Vig. . New comments cannot be posted and votes cannot be cast. Vig definition: . For example, if you take out a loan for $100 with a 10% vig, you would have to repay $110 to the lender, with $10 being the vig. Vigintillion. 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". So if you take out a loan from payday advance you will have to pay $127. P. The usurers persuade borrowers of the legality of their work and don’t reveal the actual activities. 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. Gangster movies often have characters mention interest rates on loans, much like Morrie in this scene from Goodfellas saying he "didn't agreed to 3 points above the vig. If binding price caps are imposed, the argument goes, loan sharks will be spawned. My name is , we located ina loan shark lends you $50 at 3% compound interest per week (this is a weekly, not an annual rate. juice: the interest paid to a loan shark for the loan; also see vig. The investigation — known as “Operation The Vig Is Up” — involved the loan sharking, bookmaking of alleged Lucchese family members Ten people were. April 20, 2022. “Vig” is short for vigorish, aka juice. " 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. By the 1940s, 31 states and the territory of Hawaii had enacted the law, helping put loan sharks out of business. There's no paying $10k taking the principle down to 90k. What’s another word for loan shark? In this page you can discover 3 synonyms, antonyms, idiomatic expressions, and related words for loan-shark, like: usurer, moneylender and. And whilst Bloodhounds' villains have been preying on business owners who've already faced enough challenges. The local loan shark offers a better lending rate than my bank. A charge taken on bets, as by a bookie or gambling establishment. " Find the sharks vig. What does vig mean to a loan shark? Vig. On this Wikipedia the language links are at the top of the page across from the article title. I want to find private loan sharks near me; Loans from $500 to $10,000. The interest was payable weekly, every. 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. heavy packed carrying a weapon. Pillows. The guy was probably professional muscle, a leg breaker who collects vig for a loan shark. Loan sharks have long operated on housing estates in poorer areas, but increasingly use social media to drum up business and threaten clients, says Ms Williams: "It means a loan shark based in. What did the vig used to be? The mid-century modern building, formerly an Arizona Bank, was built in the 1960s and designed by famed Phoenix architect Ralph Haver. $a loan shark lends you $50 at 3% compound interest per week (this is a weekly, not an annual rate. 1)the interest payment on a loan paid back to the creditor by a certain percent. The film stars John Travolta, Gene Hackman, Rene Russo, Delroy Lindo, James Gandolfini, Dennis Farina, and Danny DeVito. 5%. Note that due to the nature of the algorithm, some results returned by your query may only be concepts, ideas or words that. Reply drtij_dzienz • Additional comment actions. initiation or induction: becoming a made man. ) (a) How much will you owe after 3 years? (Use 52 weeks per year. The higher the vig, the more money the lender makes. Loan sharks are predators who make extortionate extensions of credit to enrich themselves in violation of state or federal laws. In case of non-payment by the borrowers, loan sharks often threaten or harass them. 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. 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. vig·o·rish. Some multiple reports and studies researched the implications of loan sharks on the rest of the economy. We have briefly discussed the implications of illegal and legal. " Find the shark's vig. How do points and the vig work when borrowing from a loan shark? 2 comments. )(b) In "street" language, the profit on such a loan is known as the "vigorish" or the "vig. Will Fig Loans show up on my credit report? Yes, in order for Fig to report your payments,. Corker’s. In 1626, Peter Minuit Vigorish, or "vig", meaning the juice, or interest collected when a loan is paid back overdue. A 50-year-old Quincy woman alleged to have been acting as an illegal “loan shark” on the floor of Encore Boston Harbor Casino is now facing charges. ” In 2009, online payday loans increased by 20% in the UK due to many people not having access to any form of credit, and some banks have even started lending money without interest rates. They charge well above market interest rates to borrow the cash. Loan Shark Vig consolidation ; july 2. How much will you owe after 2 years? B. Be serious! You can get a better deal at your local neighborhood loan shark. What Is A Point In Loan Shark? On: July 7, 2022 Asked by: Cathryn Smitham Each point equals one percent of the loan amount. in "street" language, the profit on such a loan is known as the "vigorish" or the "vig. This amount includes payment for the services of bank employees who, during cooperation with you as a borrower, help to sort out payments, answer your questions, and provide the necessary information. See more of Loan sharks vig on Facebook. ) (a) How much will you owe after 3 years? (Use 52 weeks per year. ) $ 226 X (b) In "street" language, the profit on such a loan is known as the "vigorish" or the "vig. Page transparency See more. So finally the 3 months has come to an end, with his late payment and the added Vig he has paid you. He may also have mob connections, as money-lending is a time-honored means for organized. A. 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. No Reported Injuries. TheAngryJerk • 2 yr. Add in compound interest and you have yourself a loan shark. Why do loan sharks call it a vig? Authorities on underworld slang believe that “vigorish,” usually contracted to “Vig. in "street" language, the profit on such a loan is known as the "vigorish" or the "vig. We would like to show you a description here but the site won’t allow us. The way the loan shark makes a living is by placing interest on the loan, also known as the “vig” or vigorous. Go to top. Loan sharks are not financial institutions; indeed they often "collateralize" their loans with threats of violence. We would like to show you a description here but the site won’t allow us. On your $1000 bet, he’d get $20 for his efforts. The mafia competed with standard lenders, and usually offered higher rates but looser terms and credit requirements. What does vig mean to a loan shark? Vig. Slang for interest paid on a loan – usually a loan with higher than market interest rates, a so-called loan shark loan. 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. What is 3 points above the vig? If someone borrows money they will have to pay vig on the principal – a weekly amount of interest. Licensed Moneylenders: The Best Alternative to Loan Sharks. However, there is an illegal and dangerous side to lending known as “vig loan sharks. As the real Frank Sheeran explains in the book. 1. . 3,552 ratings187 reviews. goomar or goomah Americanized form of comare a Mafia mistress . 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. It is a term also used. Family troublemakers (122) One of the drawbacks of borrowing from parents or family members is that such loans are. The loan shark resorted to intimidation: she was sent threatening messages; people threw things at her house, left unwanted items on her doorstep and smashed the windows at night. It’s 10k broken down to 10 payments for 1000 each with a 30% or 3 point vig of 300 or 1300 a week. Contact us today and find out how. a person who charges very large amounts of money for lending money to someone 2. If I take a 50k loan at 2 points the vig is $1000 a week. gov. Loan sharks often arrange payment terms that never reduce the. interest rate interest rates excessive high interest rate high interest rates extortion extortionate rate extortionate rates vig vigorish gambler gamblers gambling loan loans bank loan bank loans greed greedy greediness take out a loan taking. View: Prints. Board the. This can be a fixed rate or a variable rate, depending on the terms of the loan. For example, if a game is listed at -110, it means that you need to bet $110 to win $100. According to the algorithm behind Urban Thesaurus, the top 5 slang words for "loan shark" are: racketeer, vigorish, credit card, vig, and loan rat. Most bank loans charge between 3% to 10% interest rates on. share. I’ve never heard of anything like this. com What is vig on top of the principle?Title: Microsoft PowerPoint - Simple Interest - Calculator - Worksheet B Author: kite Created Date: 4/26/2021 10:42:16 AMA loan shark lends you $80 at 2% compound interest per week (this is a weekly, not an annual rate). So on the 60k at 2 points you’d be paying $1,200 a week, every week - until you settle the principal in full. 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. People are missing a key point that you have to pay the full amount back or you pay the vig each week. The loan shark’s twenty per cent weekly interest rate. the only loan like that ever didn’t completely fuck me was from fig loans. Lenders in San Antonio take into account several factors, such as credit score, income and loan duration. If I lend you $10, I expect $10 back. Loan sharks advertise through texts, WhatsApp messages, e-mails, flyers, social media, and so forth. In some cases, interest and fees can equal the amount you borrow. Template:Page neededTemplate:Page. The goal of every sportsbook is to set lines that draw an equal amount of action to either side of a bet. These lenders are also known to be very aggressive in collecting payments, often resorting to threats and violence. 6. A loan shark is a person who offers loans at extremely high interest rates, has strict terms of collection upon failure, and operates outside off the street (outside of local authority). 11/14 vs LIU Sharks-1800: W 53-76: 11/12 vs Lafayette Leopards-505:. Verb [edit] shylock (third-person singular simple present shylocks, present participle shylocking, simple past and past participle shylocked) (intransitive, US) To lend money at exorbitant rates of interest. After that, one might wonder what a typical vignette is. Now, in the city by the Bay, everyone has to pay…. Some federal credit unions offer loans from $200 to $1,000 with APRs capped at 28% to borrowers of all credit types. These interest rates are typically much higher than legally allowed. Synonyms * vigorish * juice * overround ---- Not English has no English definition. ] Vigerage-and. ELI5: Gangster/loan-shark lending rates and terminology (as portrayed in films) Gangster movies often have characters mention interest rates on loans, much like Morrie in this scene from Goodfellas saying he "didn't agreed to 3 points above the vig. It follows Chili Palmer (Travolta), a Miami mobster and loan. - Vig: Italian Mafia lingo for the interest paid to a loan shark for a loan. (Round your answers to the nearest dollar. It doesnt work that way. A loan shark is a person who loans money at unlawfully high interest rates and may use intimidation, primarily threats of violence, to ensure borrowers repay their debts. Criminal -> Automatically can be lead into by one of the game starts. (Round your answers to the nearest dollar. goombah an associate especially a senior member of a criminal gang. 61 percent annual compounded), imposing truly unfair and abusive loan terms on borrowers. We would like to show you a description here but the site won’t allow us. The court sentenced her to 51 months in. 63. This article is for subscribers only. My ex worked on the docks and used to borrow money from a guy name Mattie The Blade. a person who…. Loan shark. Financial Service. W. Vig. If I pay the vig every week the principle does not go up. What is a vig in business? Financial Terms By: v. Points are the percentage you pay in interest on a loan ( aka the "vigorish" or "vig"). Otherwise have illegal items on you (such as spacefly eggs) and enter Windfall. . Welcome to this game's version of the money-making mini-game. 20% of loan amount + 4% of loan amount each month. (slang) Interest from a loan shark’s loan. An emotional scrap dealer wants to purchase a ship bound for salvage, but he needs at least $3000. The average credit score in Texas is 688, while the average interest rate that lenders charge on a personal loan is 8. adding another 50K to the principle he owes, and also doubling the vig. The term usually refers to illegal activity, but may also refer to predatory lending with extremely high interest rates such as payday or title loans. interest rate interest rates excessive high interest rate high interest rates extortion extortionate rate extortionate rates vig vigorish gambler gamblers gambling loan loans bank loan bank loans greed. Vigintillion. Mugs. 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. Loansharking. Do loan sharks make a. Loansharking. 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". John Lescroart. He would loan money to individuals and then extort excessive payments back from his debtors through threats of violence. The Crossword Solver found 30 answers to "like a loan shark", 6 letters crossword clue. Loan sharks may demand collateral like ATM cards and government-issued IDs. There are two main types of loan shark Philippines. Or you can call 0300 555 2222. Loan sharks are loans expensive but come with their benefits. The vig on a typical loan shark loan far exceeds interest rates offered by legal, regulated lenders. In a surprisingly successful turn of events, Uncut Gems. 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 everywhere, they’re referring to interest paid in cash. noun. 1 Loan shark is a term commonly used to describe a moneylender who charges extremely high rates of interest, typically under illegal conditions. About Us. Any random terms they use will be. " Find the shark's vig. Money Line Open Line Heritage Bovada BetOnline YouWager SportsBetting Best Line. In an American context, some of the most notorious loansharks in the US (before the rise of Italian-American LCN) were Jewish American gangsters. These loans often come with high interest rates. 2. Loan Shark Module Details this row only stops the spoiler from collapsing everything below it: and nothing more Profession. More than 50 direct lenders! What is a vig loan shark - with Zangocash! Skip to content Navigation Menu. But the vig was a shocking 27% per month and many of the young women quickly fell. A: That is the juice (or vig) you’ll be paying as a commission to the sportsbook for any winning wager. Loan Shark. 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. 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. Points aren't always in round numbers, and your lender might offer several options. How much is 2 points on a vig? A typical vig is two points, or 2\%. $35. (Round your answers to the nearest dollar. ) Round your answers to the nearest dollars A. As profitability fell following the change, loan sharks have also tightened their screening process. With licensed moneylenders, your rights have full protection and have enough leeway to deal with your responsibilities at all times. Payday lenders are frequently granted exceptions, charging up to. The dangers of loan sharks in the Philippines are very real. We’ll help you learn to recognise the signs so that you can take action. So if they loan you $1000 dollars you owe the loan shark $50 every Saturday. 25. High interest rates make it difficult to. 78%. A vig refers to the interest that is charged on a loan. " Mike Baldwin. By Brian Ocharo. According to data from the Korea Research Institute for Financial Inclusion, this group of lenders has been tightening lending for a few years. SANTA ANA — A 44-year-old bookie pleaded guilty and was sentenced to 14 years in prison Tuesday for gunning down a loan shark who owed him money in Westminster. initiation or induction: becoming a made man. So, if you borrowed $1000, you had to pay $50 a week in interest. Young kid dosen't get it when its read from the book. 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. Loan sharks are not financial institutions; they often "collateralize" their loans with threats of violence. Human Eye color. Loan shark vig. in "street" language, the profit on such a loan is known as the "vigorish" or the "vig. View more Borrow like a Shark and save with LoanShark. 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. " Find the shark's vig. The vig on a typical loan shark loan far exceeds interest rates offered by legal, regulated lenders. Just Google Jews and Jaws and any number of images that have replaced the shark with a stereotypically Jewish. All this comes to a head after a beautiful woman is forced to pay off a loan with her body, and a sleazy lawyer takes somebody else’s money to pay his. A credit union would help stop people falling prey to loan sharks. If the customer fails to pay the vig that week, the Soldier still has to dip into his own pocket to pay the $100 he owes his skipper. a person who charges very large amounts of money for lending money to someone 2. ) (a) How much will you owe after 2 years? (Use 52 weeks per year. Look here now. See:. Loansharking (also known as usury) is defined as lending money at an interest rate that exceeds the allowable legal limit. Otherwise fly to avarice if that fails. 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. JOHOR BARU: What started as a gesture of kindness has now become a nightmare for a man after paying RM200,000 to cover his son's loan shark debt. Vig. loan shark Significado, definición, qué es loan shark: 1. Vigintillion. " a loan shark lends you $50 at 3% compound interest per week (this is a weekly, not an annual rate. How about: $10 gets $11 back? These student loans are seeing people have to DOUBLE and TRIPLE what they borrowed. (Round your answers to the nearest dollar. 75 while still being a cleaner number to remember. These sharks provide quick cash to desperate borrowers who can‘t access funds from proper institutions. This is how banks and lenders make money off of loans. ) A commission, finder's fee, or similar extra charge. Two points would be two percent of the loan amount, or $2,000. 2022 The vig is essential to your sports betting experience, whether or not you take the time to calculate it yourself. Here are the possible solutions for "Loan shark" clue. People who borrow from loan sharks often. We would like to show you a description here but the site won’t allow us. On your $1000 bet, he’d get $20 for his efforts. Otherwise have illegal items on you (such as spacefly eggs) and enter Windfall. In "street" language, the profit on such a loan is known as the "vigorish" or the "vig. In American English, it can also refer to the interest owed a loanshark in consideration for credit. Save "I crunched the numbers until cautiously opportunistic. a. To find the shark's vig, we need to subtract the initial loan amount from the final amount owed: Vig = $2,685. Commercial banks and credit unions (122)Ushijima the Loan Shark (闇金ウシジマくん, Yamikin Ushijima-kun) is a Japanese manga series by Shohei Manabe. Now, in the city by the Bay, everyone has to pay…. Condon Manchurian Candidate 201: Eugénie Rose Cheyney [. A loan shark may also be called a “ credit shark ” or “vig. In American English, it can also refer to the interest owed a loanshark in consideration for credit. ” In bookie slang language, there are different words, including the “shark’s loan,” “margin,” “commission,” “edge,” and “percentage. Prior to working with Tony, Hesh was also friendly with Tony's father Johnny Boy. in "street" language, the profit on such a loan is known as the "vigorish" or the "vig. You can find their details below: The IMLT investigates and prosecutes illegal money lenders while supporting those who have borrowed money from a loan shark. But he has to pay the vig and the full amount of the principle: unlike a real loan, none of the interest payment(s) are applied to the principle amount. I need a loan of R15000.