When you borrow money from your best friend
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Kelly McCain (left) lent her best friend Kate Williams US$10,000 without a formal agreement.
PHOTO: JOSH CHANG/NYTIMES
Kami Rieck
When Kelly McCain learnt that her best friend of 22 years owed money to a former girlfriend, she did not hesitate to transfer US$10,000 (S$12,900) to her friend from a high-yield savings account that was reserved for emergencies.
McCain, 44, provided the loan in December with no interest, repayment timeline, written agreement or collateral. Her friend, Kate Williams, 38, said she planned to fully repay the loan by mid-2027 and “would rather die” than not do so.
