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 My people-to the poor person among you, you must not be like a moneylender to him; you must not charge him interest.
For it is his only covering; it is the clothing for his body. What will he sleep in? And if he cries out to Me, I will listen because I am compassionate.
"At the end of [every] seven years you must cancel debts. This is how to cancel debt: Every creditor is to cancel what he has lent his neighbor. He is not to collect [anything] from his neighbor or brother, because the Lord's release of debts has been proclaimed. read more. You may collect [something] from a foreigner, but you must forgive whatever your brother owes you. "There will be no poor among you, however, because the Lord is certain to bless you in the land the Lord your God is giving you to possess as an inheritance- if only you obey the Lord your God and are careful to follow every one of these commands I am giving you today. When the Lord your God blesses you as He has promised you, you will lend to many nations but not borrow; you will rule over many nations, but they will not rule over you. "If there is a poor person among you, one of your brothers within any of your gates in the land the Lord your God is giving you, you must not be hardhearted or tightfisted toward your poor brother. Instead, you are to open your hand to him and freely loan him enough for whatever need he has. Be careful that there isn't this wicked thought in your heart, 'The seventh year, the year of canceling debts, is near,' and you are stingy toward your poor brother and give him [nothing]. He will cry out to the Lord against you, and you will be guilty. Give to him, and don't have a stingy heart when you give, and because of this the Lord your God will bless you in all your work and in everything you do. For there will never cease to be poor people in the land; that is why I am commanding you, 'You must willingly open your hand to your afflicted and poor brother in your land.'
"Do not charge your brother interest on money, food, or anything that can earn interest You may charge a foreigner interest, but you must not charge your brother interest, so that the Lord your God may bless you in everything you do in the land you are entering to possess.
"Do not take a pair of millstones or an upper millstone as security for a debt, because that is like taking a life as security.
"When you make a loan of any kind to your neighbor, do not enter his house to collect what he offers as security. You must stand outside while the man you are making the loan to brings the security out to you. read more. If he is a poor man, you must not sleep in [the garment] he has given as security. Be sure to return it to him at sunset. Then he will sleep in it and bless you, and this will be counted as righteousness to you before the Lord your God.
Do not deny justice to a foreign resident [or] fatherless child, and do not take a widow's garment as security.
And if you lend to those from whom you expect to receive, what credit is that to you? Even sinners lend to sinners to be repaid in full. But love your enemies, do what is good, and lend, expecting nothing in return. Then your reward will be great, and you will be sons of the Most High. For He is gracious to the ungrateful and evil.