shylocking is a good way to make money but theres a lot of heat that goes with it.theres a lot of angles,a lot of complications.etcetera...
this is how it has always worked where i come from.theoretically of coarse.lol.
say you [dsbaloo] want to borrow ten grand from me.typical vig on ten is three. the 'rule of thumb' i go by is under a grand is five to ten points.one or two is four or five...depending on how much of a sucker you are..lol. connected guys,family,friends, always get a discount.but dont give them a loan unless you have to...fucks up relationships. five grand and up i wouldnt charge more than three points to any body. above twenty if you agree to three points,your a fucking moron. the best customers are books and biz men.hands down. it sounds cruel,but they have some collateral if they cant pay. its a good idea to have a 'arrangment' with a book.this way he refers all his 'losers' to your business. for the actual money?its easy. in brooklyn,if you put moneys on the street without being 'on the record' your asking to get beaten,robbed, and shook down.lol. if you do have a crew behind you you go to your 'guy'.if he doesnt have it he goes to the 'skip'. the money is 'passed down' and the loan itself is put 'on the record'. this serves two purposes.one,you cant get fucked over at a sit down,because your skipper can say the loan is 'legitimate'. and two your 'guy' is getting an envelope every week from you. back to the example...say you borrowed a ten from me,and i dont have it[even if i did i would rather go to the 'guy'] i get it at one and a half from my 'friend' while i give it to you at three.just vig [pure profit] im keeping one fifty a week from one customer. if my guy got it from his 'skip' hes paying a point while im paying two.but this isnt bad from your stand point,because the skipper is seeing an envelope every week that he associates with you. your skipper is supposed to be the 'bank'.some times it doesnt work that way and you have to ask a different guy for the loan. guys like tommy karate always was being 'chased' by some one..and he had his 'fair share' of juice loans him self,but thats just a notable example...i could go on for ever.lol.
guys like oneil,the pope,wild bill,...etc... these guys had huge shy businesses.and when i say huge,remember that i have seen some my share of shylocks.lol. the big guys,are more 'banks' than anything.
