$35. A unit of quantity equal to 10 63 (1 followed by 63 zeros). Loan sharks are not financial institutions; indeed they often "collateralize" their loans with threats of violence. Synonyms * vigorish * juice * overround ---- Share on Facebook; Share on Twitter; Share by Email;Find the shark's vig. (slang) Interest from a loan shark's loan. A loan shark lends you $80 at 2% compound interest per week (this is a weekly, not an annual rate). That's the interest payment on a loan. Some federal credit unions offer loans from $200 to $1,000 with APRs capped at 28% to borrowers of all credit types. What is the vig in sports betting? Quite simply, the vig, vigorish, or juice, is the house edge. ” These unscrupulous individuals or groups prey on vulnerable individuals who are desperate for financial assistance. A person who makes illegal loans, usually by charging an extraordinarily high interest rate. The mafia competed with standard lenders, and usually offered higher rates but looser terms and credit requirements. Vigintillion. Instant. As profitability fell following the change, loan sharks have also tightened their screening process. In some cases, interest and fees can equal the amount you borrow. 36 likes. What is a Fig Loan? A Fig Loan is an installment loan, meaning it's. There are 52 weeks in a year, so 26 “biweekly” time periods. Long before this, the figurative use of shark to describe a predatory person or predatory behaviour, was and still is Standard English, and dates from 1600s. If I pay the vig every week the principle does not go up. Now, in the city by the Bay, everyone has to pay…. These interest rates are typically much higher than legally allowed. 25 in interest! Hell, where we come from, that’s vig. With licensed moneylenders, your rights have full protection and have enough leeway to deal with your responsibilities at all times. See actions taken by the people who manage and post content. The film stars John Travolta, Gene Hackman, Rene Russo, Delroy Lindo, James Gandolfini, Dennis Farina, and Danny DeVito. Board the. One point is 1% of the loan value or $1,000. $a loan shark lends you $50 at 3% compound interest per week (this is a weekly, not an annual rate. We’ll help you learn to recognise the signs so that you can take action. in "street" language, the profit on such a loan is known as the "vigorish" or the "vig. In chapter 5, the group will meet Kamataki Eri outside Otohime Land. 1 Description; 2 Japan; 3 Ireland; 4 Israel; 5 Kazakhstan; 6 Malaysia and Singapore. The way the loan shark makes a living is by placing interest on the loan, also known as the “vig” or vigorous. Financial Terms By: v. Consider the idea of Jewish loan sharks, raising the "vig", or Shylock desiring his pound of flesh. in "street" language, the profit on such a loan is known as the "vigorish" or the "vig. After that, one might wonder what a typical vignette is. heavy: packed, carrying a weapon. Save "I just need to borrow enough money to pay my bankruptcy lawyers. (Round your answers to the nearest dollar. English (wikipedia vis) Etymology 1 From (etyl) vis. LOAN SHARK: Usurer Advertisement. To calculate that amount, multiply 1% by $100,000. As every fan of The Sopranos knows, the vig is the interest on a shark's loan. As every fan of The Sopranos knows, the vig is the interest on a shark's loan. $396. And most customers are just to to struggle to pay the vig once a week Reply. These sharks provide quick cash to desperate. They make profits out of exorbitant rates and unethical vehicles of debt recovery. The 1952 B-flick "Loan Shark" , starring George Raft , offers a glimpse of mob payday lending. . com! Our hilarious and cheeky illustrations will have you swimming with laughter. Financial servicenoun a commission, finder's fee, or similar extra charge. For example, a loan shark may lend $1,000 at a 2,000% annualized interest rate, which is illegal in most states. ) (a) How much will you owe after 2 years? (Use 52 weeks per year. Anthony Pandrella, 62, who is a Gambino crime. Negative. " 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. If you pay half of your loan, the weekly payment doesn't change. In our example, 11 + 11 = $22 is bet, and the bookmaker wins $1 so the vig is 1/22 = 4. 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. )Julia Kagan Updated November 07, 2023 Reviewed by Charles Potters What Is a Loan Shark? A loan shark is a person who—or an entity that—loans money at extremely high interest rates and often. (Round your answers to the nearest dollar. (Round your answers to the nearest dollar. A loan shark is a person or body that offers loans at extremely high interest rates. The specific meaning of. goombah: an associate, especially a senior member of a criminal gang. Someone who lends money at excessive rates of interestLoan sharks vig. Or, you could shorten the amount of weeks he is paying it back to something that would more reasonably fit personal loan rates if you want to keep the $500 a week. 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. Video of the Day. ) (a) How much will you owe after 4 years? (Use 52 weeks per year. In case of non-payment by the borrowers, loan sharks often threaten or harass them. Loan sharks are usually unauthorized, unregulated, and illegal business entities or individuals. T/F Installment sales credit is a loan that allows you to receive high-priced items, such as large appliances or furniture. The image of Jews as sharks has also been around for a long time. In the world of lending, there exists a clandestine and dangerous underbelly that preys on vulnerable individuals in dire need of quick cash. At 45 weeks, the interest rate would be equivalent to. He said he was being stripped and. What is Vig? Meaning of Vig as a finance term. What is so different about a Fig Loan? In an industry where the normal is 600%+ APR lu. The image of Jews as sharks has also been around for a long time. Reply drtij_dzienz • Additional comment actions. 46 likes. It doesnt work that way. A loan shark is a type of predatory lender, often an element of a larger criminal organization, that lends money to borrowers outside the law. LOAN ___ shark (usurer) SHYLOCK: Shakespearean usurer 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. The Crossword Solver found 30 answers to "like a loan shark", 6 letters crossword clue. hide. A loan shark lends you $70 at 1% compound interest per week (this is a weekly, not an annual rate). 1. A loan shark is a person, normally within a professional network or organized crime group, who provides loans at high interest rates. Today's puzzle is listed on our homepage along with all the possible crossword clue solutions. goomar or goomah: Americanized form of comare, a Mafia mistress . Points are the percentage you pay in interest on a loan ( aka the "vigorish" or "vig"). b. April 20, 2022. 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". 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. The average illegal moneylender Singapore charges between 20% to 60% per month. Loan sharks also add fees whenever they like. 2. Interest rates tend to be higher on small loans because the cost of "sharking" is the same regardless of the loan amount. Loan sharks are loans expensive but come with their benefits. 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. This is a “more reasonable” (but still pretty high) interest rate of 19. Vig is short for Vigorish. So you repay 13k in total over a 10 week term on a 10k loan. This means if you borrow S$100 from a loan shark, you will need to repay S$120 to $160 within one month. 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. Otherwise have illegal items on you (such as spacefly eggs) and enter Windfall. ) Round your answers to the nearest dollars A. You can get in touch with them on 0875511643, email: You will be simply be swapping one set of problems for. Merchant Gender. Such lenders usually trap destitute borrowers who are desperate for immediate cash. In season 2, the mermaid decides to set up house on the beach. No-Vig Odds. In loan sharking, vigorish refers to the ridiculously high interest rates charged by predatory illegal lenders. a. 5%. ) (b) In "street" language, the profit on such a loan is known as the "Vigorish or the "vig. Vigorish (also known as juice, under-juice, the cut, the take, the margin, the house edge or simply the vig) is. ”. A loan shark lends you $50 at 2% compound interest per week (this is a weekly, not an annual rate). Definition of Vig in the Financial Dictionary - by Free online English dictionary and encyclopedia. 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. Repeat offenders can be punished by a $10,000 fine, one-year imprisonment, or both. Loansharking (also known as usury) is defined as lending money at an interest rate that exceeds the allowable legal limit. The practice of making illegal loans, usually by charging an extraordinarily high interest rate. However, because humans love hyperbole, the term "loan shark" may be used to describe payday loan lenders - essentially the last legal resort for people who need cash - the idea is that if you borrow money from them, you don't need a credit check or anything like that, and they give you some high-ish percentage in a lump sum of what you would. The documentation needed to close a VIG loan is minimal, and our sales team is committed to responding your needs. stringfellow1023 • 2 yr. 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. (slang) Interest from a loan shark’s loan. Flexible loan options from $500 to $50,000 + Interest rates start at 6. 3. Condon Manchurian Candidate 201: Eugénie Rose Cheyney [. ago. LOAN ___ shark (usurer) Advertisement. vigorish; juice; overround So easy math wise guys loans you 10,000 at 3 points or 30% it’s not a 3,000 a week vig. Nah this is wrong bro it only compounds if you miss the vig. hit to murder; also see whack. 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. EBK CONTEMPORARY FINANCIAL MANAGEMENT. Interest rates to get a loan from payday advance starts from 27% per week. ] Vigerage-and. The term Vig was initially used in the context of loan sharks or loans made at excessive interest rates. 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). borrowing prints loansharks presents bank gifts loan presents loans mugs interest rates prints loan shark mugs loanshark t-shirts debt t-shirts bank loan presents. Family troublemakers (122) One of the drawbacks of borrowing from parents or family members is that such loans are. Etymology: < Russian vyigryš gain, winnings (18th cent. These lenders are also known to be very aggressive in collecting payments, often resorting to threats and violence. How much is 2 points on a vig? A typical vig is two points, or 2\%. . A Gambino crime family associate was convicted of murder Tuesday for shooting his mob-tied loan shark friend twice in the back of the head at his Brooklyn home. In American English, it can also refer to the interest owed a loanshark in consideration for credit. 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. The danger of borrowing from these loan sharks is. Handing over an ATM card can give loan sharks unauthorized access to a borrower’s bank account, leading to unauthorized withdrawals or misuse of funds. The vig on a typical loan shark loan far exceeds interest rates offered by legal, regulated lenders. Loans approved and funded in as little as 30. Or you can call 0300 555 2222. Miner. 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. Loan-sharking victims were allegedly required to make weekly, high interest “vig” payments, either by directly paying individual defendants or by dropping off cash payments at two New Rochelle. While 12. That’s $9,401. Two points would be two percent of the loan amount, or $2,000. Community See All. John Lescroart. Otherwise fly to avarice if that fails. How much will you owe after 2 years? B. Loan term: 2 to 4 weeks. Do loan sharks make a. Toons often infiltrate the Cashbot Mints to recover Cogbucks for promotions on their Cashbot Cog Disguise. TIL that "vig" as used to describe the fees charged by loan sharks and gambling operators, is actually an abbreviation of the original word, which is "vigorish. Minh Quang Tran pleaded guilty. (Round your answers to the nearest dollar) (a) How much will you owe after 3 years? (Use 52 wecks per year. The "vig" or profit made on sports bookmaking or loansharking activities. (Round your answers to the nearest dollar. What is a vig in business? Financial Terms By: v. up against ‘the Vig’, Dismas must learn the truth behind a seedy loan-shark who provides extortionate interest rates as they act as a front for the mob. heavy: packed, carrying a weapon. Loan Shark Vig consolidation ; july 2. Maximum finance charge: $15. Some multiple reports and studies researched the implications of loan sharks on the rest of the economy. New comments cannot be posted and votes cannot be cast. Enter a Crossword Clue. Tech-Fueled Microlenders Replace Loan Sharks as Thai Borrowing Swells. He fled to Los Angeles before authorities linked him to the crime scene. 2005, F. The guy was probably professional muscle, a leg breaker who collects vig for a loan shark. Written by: Alyssa Divina | Edited by: Karla Maolen Visbal. How much will you owe after 3 years?. 25. Vig. 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. In "street" language, the profit on such a loan is known as the "vigorish" or. These loans often come with high interest rates. Otherwise have illegal items on you (such as spacefly eggs) and enter Windfall. NEW YORK CITY — A federal jury took all of 90 minutes to find a mobster guilty of killing a Brooklyn loan shark over $750,000, authorities said. A loan shark may also be called a “ credit shark ” or “vig. How much will you owe after 2 years? B. in "street" language, the profit on such a loan is known as the "vigorish" or the "vig. ) $ (b) In "street" language, the profit on such a loan is known as the "vigorish" or the "vig. Vigicrues : Carte de vigilance crues nationale. If you take out a loan from a loan shark, expect to pay interest, and probably a lot of it. As the real Frank Sheeran explains in the book. We would like to show you a description here but the site won’t allow us. 50%, or any other number, depending on. standard usury laws in each state typically set the maximum interest rates that a lender can charge, which can range from 45% to 45%. 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. The series was serialized in Shogakukan's Weekly Big Comic Spirits magazine from May 2004 to May 2019. “Vig” is short for vigorish, aka juice. Historically, a Vig Loan can be considered an illegal loan ( loan sharks ). How much is 2 points on a vig? A typical vig is two points, or 2\%. Vig. [High risk borrowers (who had been late on payments previously) had to agree to more vig on their loan. So. Borrow like a Shark! Get loan offers directly from multiple Lenders on LoanShark. As every fan of The Sopranos knows, the vig is the interest on a shark's loan. Criminal -> Automatically can be lead into by one of the game starts. 6 percent of loan requests were approved by them in 2018, that rate fell to 11. A loan shark lends you $50 at 3% compound interest per week (this is a weekly, not an annual rate. In the world of lending, there exists a clandestine and dangerous underbelly that preys on vulnerable individuals in dire need of quick cash. At the end of the sixth month period, the coin will be forfeited and you will lose all rights to the coin and all rights of ownership. In this program, direct loans that are issued to students can. Historically, many. The way the loan shark makes a living is by placing interest on the loan, also known as the “vig” or vigorous. More than 150 nude selfies of poor young women indebted to sleazy Chinese loan sharks have been leaked online. 36 likes. He is a suspect in the Arson case The Gas Man. Look here now. The company says it is now the country’s third-largest payday-lending chain, with 1,100 stores in 30 states. a. If you borrow $100k at 3 points then you pay $3k a week until you pay the £100k back in full. Thailand’s household debt has spiraled to almost equal the size of its $472 billion. The Cashbot Mints are a Cog facility located in Cashbot Headquarters with elevators to each mint situated throughout the train yard and are where Cashbots store large quantities of their money. A person who makes illegal loans, usually by charging an extraordinarily high interest rate. Asked by: Cathryn Smitham. Slang for interest paid on a loan – usually a loan with higher than market interest rates, a so-called loan shark loan. Every sunny days keto acv gummies ree drummond year, 6 million hectares of land in the world are turned into deserts and semi deserts, and 1 billion hectares of land are eroded by wind and water. Lending agreements between borrowers and loan sharks all have the following characteristics: a high rate of interest, generally 20 percent per week; a fairly explicit understanding that borrowers are pledging their physical well-being and that of their families as collateral for the loan; and a belief by the borrower. Barely a month ago, 237 people, aged 13 to 77, were arrested in a similar 11-day sting operation for acting as. The Fast Cash Needed website claims some loan sharks charge rates as high as 1. 2022 The vig is essential to your sports betting experience, whether or not you take the time to calculate it yourself. A day after a group of loan shark victims signed a five-point agreement with the government to end their protests, another group of victims criticised the deal, arguing that it would only put them in more trouble. Consumers should avoid getting trapped in the shark tank this festive season and keep the provisions of the National Credit Act (“NCA”) in mind. I need help getting a $4,000 loan I need to find a loan shark do you know how to go about doing this. Pepperdine Waves Status. They do not take partial payments on the principal and at 5% a week the loanshark will have been repaid in full in 20 weeks. My name is , we located inA loan shark lends you $$ 100$ at $2 \%$ compound interest per week (this is a weekly, not an annual rate). For a repayment rate of 3 months, your APR will end up being 288%. 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. 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. How do Loan Sharks Work? Loan sharking involves taking advantage of the borrower's weak credit or collateral condition. in "street" language, the profit on such a loan is known as the "vigorish" or the "vig. You can complete our application in about 10 minutes. A loan shark is an illegal lender that charges high interest rates and may use the threat of violence to collect debt. Email: reportaloanshark@stoploansharks. That’s where you make your money on vig payments now if u can’t come up with vig than it’s tacked onto the principle. How much will you owe after 2 years? B. Search Clue:A loan origination fee is an amount you pay for servicing your credit card or mortgage and providing other services by your bank. Lendmark's personal loan amounts can range from $500 to $25,000. 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. OK, there are some making it a business. This thread is archived. (Round your answers to the nearest dollar. ) A commission, finder's fee, or similar extra charge. What is a vig loan? Financial Terms By: v. After extorting excessive payments and threatening violence against a debtor named Miranda and the debtor’s wife, Perez was arrested and charged under a federal statute that made. The Fan -> Save freighter from loan sharks. A beautiful woman paid it with her body. How much will you owe after 2 years? B. Thus, question arises if the present regulatory approach itself is effective and efficient in protecting the interest of the money lending borrowers. For example, one point on a $100,000 loan would be one percent of the loan amount, or $1,000. On the other hand, payday lenders usually opt for the ethical way by complaining against the defaulters in the credit bureaus. Sometimes they can mean interest, sometimes they can mean a cut of revenue, but it's still 1:1. The loan-shark business was, of course, illegal under the usury laws that existed then as now in most states. 1 Loan shark is a term commonly used to describe a moneylender who charges extremely high rates of interest, typically under illegal conditions. MAKE THE VIG , OR YOU WILL BE GETTING A CALL LIKE THIS ! | telephone callSeptember 18, 2023 at 2:23 p. uk or text loan shark and your message to 60003. '3 points' vig is 3% per week. ) A commission, finder's fee, or similar extra charge. ) $ 93 x (b) In "street" language, the profit on such a loan is known as the "vigorish" or the "vig. What to do if you owe money to a loan shark. If you take out a loan from a loan shark, expect to pay interest, and probably a lot of it. The dangers of loan sharks in the Philippines are very real. Jonathan Lewis: The Microfinance Vig 2010. ”Synonyms for LOAN-SHARK: usurer, shylock, moneylender. Vig Slang for interest paid on a loan - usually a loan with higher than market interest rates, a so-called loan shark loan. 2. Loan Shark, atau dalam bahasa Indonesia berarti rentenir/lintah darat, bisa berbentuk perorangan atau badan usaha yang fokus usahanya adalah memberikan pinjaman dana kepada orang lain atau usaha lainnya dengan. FBoubacar Coulibaly Questionable. [2] Judge Rumford Bland collects the vigorish in Thomas Wolfe’s novel, You Can’t Go Home Again. Kimanh Le, 50, was. $We would like to show you a description here but the site won’t allow us. Corker’s. Conclusion. pawn something is a good idea. How does vig work loan shark? Vigorish (also known as juice, under-juice, the cut, the take, the margin, the house edge or simply the vig) is the fee charged by a bookmaker (or bookie) for accepting a gambler’s wager. This max loan amount is quite low for a personal loan lender and may prove to be insufficient for many potential borrowers. You pay one of two things, the weeks vig or the principle in full. The term came to English usage via. Consider these average annual percentage rates (APRs): Loan Shark Vig – Over 500% APR [10] Payday Loans – 500% APR [11] Credit Cards – 15% to 20% APR [12] Personal Bank Loans – 9% to. These cartoons are way more shark-tastic than your. Probably also partly a borrowing from Yiddish. Loan shark. By Brian Ocharo. I really try to find a good loan shark which can borrow me 3k for under 5000%. The model is for the loan shark, which is the soldier's primary job, to issue a loan, for say 10k. US slang the interest on a loan that is paid to a moneylender. Loan amounts from $1,000 to $15,000 + Apply online or at 100+ stores. The most common examples of a loan shark in the Philippines are 5-6 lenders, sangla ATM lenders and other informal lenders. Vigintillion. 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. The loan fund for these operations came from the proceeds of the numbers racket and was distributed by the top bosses to the lower echelon loan sharks at the rate of 1% or 2% a week. juice: the interest paid to a loan shark for the loan; also see vig. ” 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. 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. 1. Loans from loan sharks charge interest rates far above any. Finance House. Loan sharks are not financial institutions; they often "collateralize" their loans with threats of violence. LOAN SHARK: Usurer has no involvement in caper LENDER: Usurer, e. A: That is the juice (or vig) you’ll be paying as a commission to the sportsbook for any winning wager. The specific meaning of. Loan forgiveness is an official legal request to terminate payments on a loan that the borrower took out some time ago. To tackle this problem, Sanders and Ocasio-Cortez introduced the Loan Shark Prevention Act in 2019. Ichiban decides to become the president and help Eri, and with the aid of Nick Ogata, they aim to make their business. LENDER: Usurer LENDS: Plays usurer SLENDER: Second usurer was thin (7) Advertisement. 1. Some multiple reports and studies researched the implications of loan sharks on the rest of the economy. Prior to working with Tony, Hesh was also friendly with Tony's father Johnny Boy. ) 2009 , Davinia Bostick, The Match , →ISBN , page 91 : Loan Shark: A person or entity that charges borrowers interest above an established legal rate. " Find the sharks vig. m. A credit union would help stop people falling prey to loan sharks. He makes his money on the “vig,” short for vigorish – his fee for placing the bet. ” They say it means the “edge,” or the strength of the operation, to the loan shark or bookmaker. ) Round your answers to the nearest dollars A. 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. The court sentenced her to 51 months in. Starting mission is saving the Teladi. ca against your home or investment property. permanent worker. Loan Sharks is the first history of predatory lending in the United States. " Find the sharks vig. 75 while still being a cleaner number to remember. The Crossword Solver finds answers to classic crosswords and cryptic crossword puzzles. 63 - $100 Vig ≈ $2,585. )(a) How much will you owe after 4 years? (Use 52 weeks per year. 20% of loan amount + 4% of loan amount each month. It’s the vig – the exorbitant interest mob loan sharks take on their money. For example, if a game is listed at -110, it means that you need to bet $110 to win $100. The Fan -> Save freighter from loan sharks. The guy was probably professional muscle, a leg breaker who collects vig for a loan shark. A beautiful woman paid it with her body. A payday lender can legally charge up to 400% interest in a year. Points are the percentage you pay in interest on a loan ( aka the "vigorish" or "vig"). ) A commission, finder's fee, or similar extra charge. a person who charges very large amounts of money for lending money to someone 2. ) $ (b) In "street" language, the profit on such a loan is known as the "vigorish" or the "vig. The guy was probably professional muscle, a leg breaker who collects vig for a loan shark. How much will you owe after 3 years? b. 5 percent per day. In 1626, Peter Minuit Vigorish, or "vig", meaning the juice, or interest collected when a loan is paid back overdue. Facts. Loan sharks are loans expensive but come with their benefits. They charge well above market interest rates to borrow the cash.