I only loan equipment out if I am fully prepared to have it ruined or lost because that is likely what will happen, lesson finally learned from multiple experiences. Some people are really bold about asking to borrow things, and it seems like the type of people that have no qualms about borrowing expensive equipment also are the type of people that give little thought to taking good care of it. Maybe others have observed the same.
Nowadays I would never loan out one of gig horns (or guitars), including my picc. I do still loan some things out if there is a need, and usually it is at my suggestion, but in my mind I consider it likely to be a gift and not a loan. I don't think I've ever asked to borrow an instrument from someone, I had a teacher that very generously lent me an Eb trumpet in H.S. to play the usual stuff on, but I know I didn't ask them to.