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
When you lend money to any of my people who are poor, do not act like a moneylender and require him to pay interest.
for it is the only covering he has to keep him warm. What else can he sleep in? When he cries out to me for help, I will answer him because I am merciful.
Release all debts at the end of every seven years. This is how you should release. Every man who has a loan to his neighbor shall release it. He shall not require it from his neighbor, or from his brother, because it is called Jehovah's release. read more. You may collect from a foreigner, but your hand should release that debt which is yours with your brother. There should not be any poor people among you. Jehovah your God will certainly bless you in the land he is giving you as your own possession. He will bless you only if you listen carefully to Jehovah your God and faithfully obey all these commandments I give you today. Jehovah your God will bless you, as he promised. You will make loans to many nations. But you will not have to borrow from any of them. You will rule many nations. But no nation will ever rule over you. This is what you must do whenever there are poor Israelites in one of your cities in the land that Jehovah your God is giving you. Be generous to these poor people. Freely lend them as much as they need. Never be hardhearted and stingy with them. When the seventh year, the year when payments on debts are canceled, is near, you might be stingy toward poor Israelites and give them nothing. Be careful not to think these worthless thoughts. The poor will complain to Jehovah about you, and you will be condemned for your sin. Give the poor what they need, because then Jehovah will make you successful in everything you do. There will always be some Israelites who are poor and needy. That is why I am commanding you to be generous with them.
Do not charge interest to your brothers, interest on money, food, anything that may be loaned at interest. You may charge interest to a foreigner, but to your brother (countrymen) you shall not charge interest. That way Jehovah your God will bless you in all that you undertake in the land you are about to possess.
Do not take a hand mill or an upper millstone as security for a debt. That would be taking away a man's livelihood.
When you make your neighbor a loan of any sort do not go into his house and repossess the security. Remain outside, and the man to whom you make the loan must bring the pledged security out to you. read more. If he is a poor man, do not keep the pledged security over night. Return the pledge to him before the sun goes down. He will have his pledged item and he may sleep. He will bless you. And it will be righteousness for you before Jehovah your God.
Do not pervert the justice due an alien or an orphan. Do not take a widow's garment in pledge.
If you lend to those from whom you hope to receive what thanks do you have? Even sinners lend to sinners to receive again as much. Love your enemies and do good to them. Lend expecting nothing in return and your reward will be great. You will be sons of the Most High for he is kind toward the unthankful and evil.