Nandkishor, who hailed from Sikrod village in Uttar Pradesh, hung himself last night in his house at ALT Centre, S.O. Kavinagar Sudhir Tyagi said.
A suicide note has been recovered from the spot in which he has held one Om Prakash, who granted the loan, responsible.
The deceased had been facing tough economic conditions, and Prakash was allegedly pressuring him for repayment of the loan.
The body has sent for post-mortem, he said, adding that further investigations are on.