Reference: LOANS
American
Jehovah, as the sole proprietor of the land occupied by the Jews, required them, as one condition of its use, to grant liberal loans to their poor brethren; and every seven years, the outstanding loans were to become gifts, and could not be reclaimed. If a pledge was taken on making a loan, it must be done with mercy and under certain benevolent restrictions, Ex 22:25,27; De 15:1-11; 23:19-20; 24:6,10-13,17. The great truth so prominent in this and similar features of the Mosaic laws, ought to be restored to its fundamental place in our theories of property; and no one who believes in God should act as the owner, but only as the steward of what he possesses, all of which he is to use as required by its great Owner. In the same spirit, our Savior enjoins the duty of loaning freely, even to enemies, and without hope of reward, Lu 6:34-35.
See Verses Found in Dictionary
"If you lend money to any of my people with you who is poor, you shall not be like a moneylender to him, and you shall not exact interest from him.
for that is his only covering, and it is his cloak for his body; in what else shall he sleep? And if he cries to me, I will hear, for I am compassionate.
"At the end of every seven years you shall grant a release. And this is the manner of the release: every creditor shall release what he has lent to his neighbor. He shall not exact it of his neighbor, his brother, because the LORD's release has been proclaimed. read more. Of a foreigner you may exact it, but whatever of yours is with your brother your hand shall release. But there will be no poor among you; for the LORD will bless you in the land that the LORD your God is giving you for an inheritance to possess-- if only you will strictly obey the voice of the LORD your God, being careful to do all this commandment that I command you today. For the LORD your God will bless you, as he promised you, and you shall lend to many nations, but you shall not borrow, and you shall rule over many nations, but they shall not rule over you. "If among you, one of your brothers should become poor, in any of your towns within your land that the LORD your God is giving you, you shall not harden your heart or shut your hand against your poor brother, but you shall open your hand to him and lend him sufficient for his need, whatever it may be. Take care lest there be an unworthy thought in your heart and you say, 'The seventh year, the year of release is near,' and your eye look grudgingly on your poor brother, and you give him nothing, and he cry to the LORD against you, and you be guilty of sin. You shall give to him freely, and your heart shall not be grudging when you give to him, because for this the LORD your God will bless you in all your work and in all that you undertake. For there will never cease to be poor in the land. Therefore I command you, 'You shall open wide your hand to your brother, to the needy and to the poor, in your land.'
"You shall not charge interest on loans to your brother, interest on money, interest on food, interest on anything that is lent for interest You may charge a foreigner interest, but you may not charge your brother interest, that the LORD your God may bless you in all that you undertake in the land that you are entering to take possession of it.
"No one shall take a mill or an upper millstone in pledge, for that would be taking a life in pledge.
"When you make your neighbor a loan of any sort, you shall not go into his house to collect his pledge. You shall stand outside, and the man to whom you make the loan shall bring the pledge out to you. read more. And if he is a poor man, you shall not sleep in his pledge. You shall restore to him the pledge as the sun sets, that he may sleep in his cloak and bless you. And it shall be righteousness for you before the LORD your God.
"You shall not pervert the justice due to the sojourner or to the fatherless, or take a widow's garment in pledge,
And if you lend to those from whom you expect to receive, what credit is that to you? Even sinners lend to sinners, to get back the same amount. But love your enemies, and do good, and lend, expecting nothing in return, and your reward will be great, and you will be sons of the Most High, for he is kind to the ungrateful and the evil.