What are fiver-sixers?I don't have a clue!?

Question

What are fiver-sixers?I don't have a clue!?

Answer 1

it's a loan shark in the Philippines.

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Answer 2

Fivers and sixers in the Philippine are people involved  in money lending  business.  It was  called  as such because of the way moneylenders operate.  Say, if you borrow 5 pesos from the  moneylender, you have to pay back  6 pesos on the  specified time/date (usually over a period of  week or a month).  In the Philippines, the Indians are  known  this kind of business.

Answer 3

It's the term given to people loaning money with a 20% return (maybe more). I would hesitate to call them loan sharks even though some of them became that way, but they are the ones whom Filipinos usually go to whenever they need instant money. It's just a person and not an official business doing these..

An example of the calculation would be if a person borrows $100, the total payment would be $120 or more depending if they pay in time.. They are the same as payday loans or advance cash but just not an official business establishment who pays taxes..

Answer 4

Ken, a 5/6er is a loan shark in The Philippines.  Usually he is from India.  So 9 times out of 10 when you see an Indian National in The Philippines he's probably not there on vacation.