Shylock is a fictional character in Shakespeare’s The Merchant of Venice and is also a term used to describe “someone who lends money at excessive rates of interest”. In Kenya, the term “shylock” is used to refer to loan sharks.
A loan shark is a person or body that offers loans at extremely high interest rates. The term sometimes refers to illegal activity, but may also refer to predatory lending with extremely high interest rates such as payday or title loans. Loan sharks sometimes enforce repayment by blackmail or threats of violence.
Approaching loan shark or shylock is almost always a bad idea! A loan shark would know that you are “in trouble” and need the money very badly. As a result, this person would charge you a very high (and probably illegally high) interest rate. And guess what? You are usually required to pay back in a month or less. Missing any payments may result in threats of violence, or even some broken bones. Their ambiguous contracts are often misunderstood or misinterpreted and very often borrowers are simply shocked to learn that they actually signed a contract requiring them to pay something as ridiculous as 10 percent of the loan per day.
Shylocks often pray upon those who find themselves in a desperate situation and feel they have no alternating but to resort to the loan shark industry to obtain credit. In summary, you should never engage the services of a loan shark or shylock no mater how big one’s debt problems are.
hi i need a shylock ASAP
Hi,I would like to know whether the business ‘SHYLOCK’ is legal or any contracts there of are they binding.
It depends very much on the particular Shylock that you dealt with
weeee! lipa deni wacha ujanja lol
As long as you get in to a contract with them with your concent its totally binding and enforceable.Chapter 23 (3) of the Kenyan Law of Contracts states that any debt must be in writing to be enforceable. And Chapter 23 (2) (2) provides that “no contract in writing shall be void or unenforceable by reason only that it is not under seal.” Strictly interpreted, this means that any signed written agreement is valid. Loan sharks have been able use this law in order to have their “contracts” upheld by the courts. wacha ujanja
lipa ndeni
What about the mobile loans where there is no written agreement. Is it legal?
I want to start that job myself. I once needed money badly that if I approached the bank couldnt get the money in time. So shylocking is a means of helping people with very urgent needs. Sometimes even friends cant be in a position to give the money you want
Did you start?
I need a genuine Shylock and not a corrupt one.
anybody who can lend me 100k and refund within a month?
Am looking for a trusted shylock in Nairobi, any leads
Enter your comment here…I need money asap ..please contact me
In kitui I need 20000
Hi . am Lydia. Pls I urgently need a loan. Av already applied through online bt no feedback yet
Am in Nairobi pls help
shylocking is as good as interest tou give to banks.it also helps during times of emergency when banks will take u three days.
I need a loan of 50k any lead please it’s urgent
Pls I have applied for a loan hope u will consider it. It’s urgent
Lydia
Am in Mombasa and in need of shy lock
Can he Auction what is not held as security simply because he knows that you own it?
I really need an emergency
loan of 30k asap please
I really need a loan of 50k any shylock within nairobi or kajiado pls reply thank
I really need a loan of 15k to pay in 1 day
i really need a loan of 15k to pay within a day
i love this
In need of a shylocks. Based at mbsa.
I would like a loan of 25k to repay in 2months please
I need a Shylock urgently. Anyone?
i need 30k loan asap.
I neeed 40k now urgently
to pay in two weeks pls. Am in Embu
Hi. I like the business idea. So if you lend some money it accumulate for how long.
Plz I need a loan of 200k payment December.
I need a loan of 150k am based in Chuka
Loan to be issued under a written agreement
Very urgent!
Where can i find a shylock urgently please??
Am in need of a loan 80k ,am based in meru very urgent.To be issued under a written agreement
i need a loan of 30,000. based in Nakuru,
I need a loan of 10k to be paid in 2 weeks kindly assist me.
Any shylock in mombasa who can get me 80k then return in 2months.
I need a loan under a written agreement to be paid back in 5 months with 6% return per month.
Hahahaaaa iiiii weeee I swear!