It has nothing to do with trust. It has nothing to do with the person you loaned it to even using the gun. It has to do with liability
That's where I'm coming from, too. I work hard for the money to buy my guns, and my friends can do that too if they want guns. They can shoot mine at the range, anytime they want to go with me.
Besides, I don't have many close friends, and some of those don't live nearby. I have hundreds, maybe thousands, of acquaintances that I am friendly with but not close enough to trust to that degree.