One of my acquaintances who recently started freelancing with a friend of him, asked me if he could borrow my camera. After some thinking I'm not sure if I'd like to lend him my camera because he has one himself, and he will need mine for a freelance job.
On one hand I'd like to help him out because he hasn't a lot of money and is struggling to start as a freelancer. There aren't much jobs available for him. On the other hand he is asking me for help frequently. E.g. if I could make a website for a very low price. When I dropped a reasonably low price ('discount for friends'), he said he didn't have the money and that he would stick to a free self-made website and maybe ask me to create a 'real' website later on.
We're both in the creative field and I did/do some freelancing as well, so even though we can help each other we can also be competitors. And I wouldn't like my camera to be damaged or broken, even if they would pay me back some of the value I'd still have to buy a new one (and spend money).
Question: If I decide to lend him the camera for his freelance work, what arrangements are reasonable to propose?
Location: Europe. I'm not seeking legal advice, only what would be reasonable to propose.
E.g. if they break the camera they have to pay back the amount of money I bought it for?
Nowadays it's worth less, but if I have to buy a new one I'd spend money I wouldn't spend (and like to spend) otherwise. I'm satisfied with this camera.
Should we write down some agreement? I don't think he has the money to pay the amount right now. How to handle this matters for acquaintances/friends? I don't want this to influence our relationship.