Get an agreement drawn up and visit a notary to legalize that shit. Note a payback timeline and any interest expected and late penalties. Then it's a legit contract. If the borrower is uncomfortable with that then you shouldn't be lending to them.

I would never ask friends for money nor would I lend them any it's a bad idea. If family needed money it would be different, I wouldn't lend anymore then I wouldn't mind losing other then to maybe my parents but they would never ask me for money.

It's been said but the banks should be the first stop for a person who needs money, if they can't get money from the bank there is a reason for that. They either have bad credit, no credit or are leveraged to the hilt and in any of these situations you probably shouldn't be lending them money anyway.

I guess one of the perks of being korean in vancouver is that everyone knows everyone and if someone fucks up, the news would travel along the network so fast, its probably not worth it unless you are willing to relocate or ditch socializing with other koreans.