How would you react???

[enjoy the ride]

If he is using it for business purposes, he needs to treat you as a business supplier. If he feels he can use his friendship with you to get take advantage, then he is no friend.
What if he damaged your equipment? Or was negligent and got sued? You might be liable too.
To me this is clear- if he didn't treat you with honor, then he is no friendto have, however you might want to think differently for all his other charming characteristics.

He could have avoided this by telling the truth.

 

[freemotion]

Here is what I would say: "I am so sorry, but our situation has changed. I did call _______ and they have a similar piece of equipment for rental. Here is the phone number......"

If he asked for details about the "situation change," I would say, brightly, "That is something we only discuss within our household. So, how's the wife and kids? (or dog, folks, etc.)"

Just what I'd do....

 

[rty007]

call me a SOB, I don't mind.

BUT if I found out that someone is lending something to make money and not putting is straight out. I would tell em to go... well... go away. If he came and said: "well, you know I am in a huge money trouble, and all that... even thou knowing that he would compete against MY business I THINK I would give it to him, but when someone is using it to make money not saying he is using it to make money I would tell em to kiss my.. well you know And those people pressing on you... I would use a great scene from one of the "terminators" that is "talk to the hand" explaining that what he did is not right, that you MIGHT have lent it to him if came clear about it, but doing such an ugly is not right...

 

[chipmunk]

I don't think "the guy's in need" should enter into it. Either you are comfortable with lending him the equipment, or you aren't. Since you use it for producing income yourself, I'm on the Don't Lend side of the equation. If other people are so concerned about his "need" then they can get together and rent the equipment for him. If they aren't willing to put out some cash to help him, then why should you lend him your source of income? You aren't running a charity; you're running a home that depends on that equipment for some of your income. Don't be bullied and guilted into doing something that you obviously don't want to do.

Ditto. Absolutely. What CJ said.