Let’s see, here we have a nice guy who puts his money at risk and asks for some reasonable protection, and you think he’s overdoing it?

No wonder they say that no good deed goes unpunished! Do you realize that you come across as ungrateful?

If you don’t like the terms, pay the loan off! If you can’t pay it off, borrow from the bank and then pay it off. If you can’t borrow from the bank, then be grateful to this generous man, as he’s probably getting a below-market return for HIS hard-earned money.

And what’s with it taking 5 years? That’s way too long. What is wrong with paying back to his niece if he dies? Were you hoping to steal his money in case he passes away? Of course it’s reasonable to have to pay the money back to his niece. It’s HIS money, remember?

That’s why I never lend to people who only know about spending money but not about earning and saving it.