Whoever commits an assault and battery upon another for the purpose of collecting a loan shall for the first offense be punished by imprisonment in the state prison for not less than three nor more than five years or by imprisonment for not more than two and one half years in a jail or house of correction; and for a second or subsequent offense, by imprisonment in the state prison for not less than five nor more than ten years. Except in the case of a conviction for the first offense for violation of this section, the imposition or execution of the sentence shall not be suspended and no probation or parole shall be granted until the minimum imprisonment herein provided for the offense shall have been served.
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