Dear Dairy Excerpted and adapted from a shiur by Rav Yosef Jacobovits May 13, 2021…
WHEN THE LENDER OVEREXTENDS HIMSELF
Sometimes a person needs to go through considerable effort to extend a loan to their friend. For example they might need to make a special trip to the bank, or request permission from family members to release the funds.
May the borrower effusively thank the lender for extending himself on their behalf?
This shailah can have larger implications, since one may argue that every loan involves some effort on the part of the lender. This rationale would effectively allow the borrower to effusively thank, bless, or greet the lender (when not accustomed to doing so), something which is clearly forbidden.
However this seems to be permitted in cases where the borrower is absolutely certain that the lender expended significant effort on his behalf (waiting a while in the bank, or driving a long distance to drop off the money) The borrower should specify that he is thanking for the effort.
However, it is strongly recommended to be stringentand thank for this effort before the lender hands the money to the borrower, or after the borrower has repaid.
Alternatively, one can offer a simple “thank you,” while specifying that he is doing so for the effort expended, as this is permitted even where no great effort was expended by the lender.