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Georgia usury laws are ridiculously complex. In general, however, on a personal loan, the maximum interest rate is 7% simple interest per year, which equates to 0.5833% per month, not compounded. On $10,000 that would be $58.33 per month interest -- hardly worth the risk of making the loan without collateral.
A "penalty," whether characterized as such, or characterized as "interest," is unenforceable under the common law of contracts. Moreover, Georgia makes a charge in excess of 5% per month on a personal loan, a misdemeanor, which means, for $10,000, more than $500 per month in interest could get you a jail sentence.
Based on what you've described:
1. You loaned $10,000.00
2. Six weeks later the interest owed would be $80.77
3. You were paid $2,500. The balance is now $7,500.00 + $80.77 simple interest
4. Six weeks later the interest owed would be $60.58
5. You were paid $2,000. The balance is now $5,500.00 + $80.77 + $60.58 simple interest