sometimes it is best to just move on. Did you know it was going to be a risk when he asked to borrow it? Did he offer to pay interest when you loaned it? What was he going to do with the money to make enough to pay you back in two weeks? Did you ask? Did it sound like a safe investment? What was the reason for the loan? Did he have a steady job at the time of the loan? Not enough information to make a judgement call on your post, at least not for me.

There is no one way to handle a person that is indebted to you. It all depends on the situation, and the situation that was in effect at the time of the loan.