mob loansharks usually charge 10%-25% interest in loans plus the vig, the vig may be 2%. I don't know but this is my guess. but in joe pistones book donnie brasco way of the wiseguy, mobsters have a 30 day loan called the chinese loan charged at 50% plus vig.
The vig
is the interest. And, typically, it doesn't come off the principal debt. The vig (interest) is going to depend on how big the loan is, the relationship between the loanshark and the borrower, the time frame involved, which in turn involves the type of loan, etc.
A loanshark lends, say, 100K to a guy at 2 points a week. That's 2% or $2,000. That's just the interest for that week. The initial 100K debt still remains. So the loanshark is usually more than happy to let that debt ride forever because he's gained back the 100K in a year and everything after that is gravy.
