Pronunciation: [lˈə͡ʊnʃɑːk] (IPA) 
The word "loanshark" is spelled with a "sh" instead of a "s" because it is pronounced with a voiced "sh" sound. In phonetic transcription, this sound is represented as /ʃ/. The "o" in "loanshark" is pronounced with a long "o" sound which is represented as /oʊ/ in IPA. The spelling of "loanshark" accurately reflects its pronunciation and helps to distinguish it from the word "loan" which is pronounced with a short "o" sound.
A loanshark is an individual or entity that operates illegally by lending money to borrowers, often in desperate financial situations, at extremely high interest rates. This term is often associated with predatory lending practices and an abusive relationship between the lender and borrower. A loanshark typically targets vulnerable individuals who may be unable to access traditional forms of credit due to poor credit history, low income, or lack of collateral.
The distinguishing characteristic of a loanshark is their unscrupulous behavior and use of intimidation or violence as a means of collecting payments from borrowers. They often engage in illegal practices such as charging exorbitant interest rates that far exceed the legal limits imposed by financial regulations, or adding hidden fees and penalties that result in the borrower accruing an insurmountable debt burden.
The loanshark's business model relies on exploiting the financial vulnerabilities of their clients, trapping them in cycles of debt and financial insecurity. The absence of regulations and oversight in the loansharking industry allows these illegal lenders to exploit and profit from the desperate circumstances of borrowers.
Governments and law enforcement agencies worldwide have implemented strict laws and regulations to combat loansharking activities. These measures aim to protect vulnerable individuals from the financial and personal devastation caused by loansharks.
The word "loanshark" is formed by combining the words "loan" and "shark".
The term "loan" originated from the Old Norse word "lǫn", which meant "fief, property lent for temporary use". It later evolved into the Middle English word "loon" or "lone", referring to a sum of money lent.
The term "shark" is derived from the German word "Schurke", which meant "scoundrel" or "villain". It gradually evolved into the English word "shark" in the late 16th century, referring to a clever, ruthless, or deceitful person. In the context of a "loan shark", the word "shark" specifically connotes a person who preys on others by offering loans at exorbitant interest rates and using aggressive or illegal methods to collect repayment.
