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bflaminio t1_jefvvxj wrote

> Needs 7k. Offered to pay back 1k per month for 10 months.

That's an absolutely usurious interest rate. No way would I charge that to a "friend", or even an enemy.

> Should I take a loan asking for $10.6k back after interest/fees (over 24 months) or use my emergency fund?

Neither. Don't borrow money to lend it out, and don't dip into your e-fund. If you don't have enough extra cash on hand to make this loan, don't do it.

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AlfredKinsey t1_jefxnex wrote

I think it would be usery in most states, i.e. illegal lending rate.

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