Reference: Loan
Easton
The Mosaic law required that when an Israelite needed to borrow, what he asked was to be freely lent to him, and no interest was to be charged, although interest might be taken of a foreigner (Ex 22:25; De 23:19-20; Le 25:35-38). At the end of seven years all debts were remitted. Of a foreigner the loan might, however, be exacted. At a later period of the Hebrew commonwealth, when commerce increased, the practice of exacting usury or interest on loans, and of suretiship in the commercial sense, grew up. Yet the exaction of it from a Hebrew was regarded as discreditable (Ps 15:5; Pr 6:1,4; 11:15; 17:18; 20:16; 27:13; Jer 15:10).
Limitations are prescribed by the law to the taking of a pledge from the borrower. The outer garment in which a man slept at night, if taken in pledge, was to be returned before sunset (Ex 22:26-27; De 24:12-13). A widow's garment (De 24:17) and a millstone (6) could not be taken. A creditor could not enter the house to reclaim a pledge, but must remain outside till the borrower brought it (De 24:10-11). The Hebrew debtor could not be retained in bondage longer than the seventh year, or at farthest the year of jubilee (Ex 21:2; Le 25:39,42), but foreign sojourners were to be "bondmen for ever" (Le 25:44-54).
See Verses Found in Dictionary
If you get a Hebrew servant for money, he is to be your servant for six years, and in the seventh year you are to let him go free without payment.
If you let any of the poor among my people have the use of your money, do not be a hard creditor to him, and do not take interest. If ever you take your neighbour's clothing in exchange for the use of your money, let him have it back before the sun goes down: read more. For it is the only thing he has for covering his skin; what is he to go to sleep in? and when his cry comes up to me, I will give ear, for my mercy is great.
And if your brother becomes poor and is not able to make a living, then you are to keep him with you, helping him as you would a man from another country who is living among you. Take no interest from him, in money or in goods, but have the fear of your God before you, and let your brother make a living among you. read more. Do not take interest on the money which you let him have or on the food which you give him. I am the Lord your God, who took you out of the land of Egypt to give you the land of Canaan, that I might be your God. And if your brother becomes poor and gives himself to you for money, do not make use of him like a servant who is your property;
For they are my servants whom I took out from the land of Egypt; they may not become the property of another.
But you may get servants as property from among the nations round about; from them you may take men-servants and women-servants. And in addition, you may get, for money, servants from among the children of other nations who are living with you, and from their families which have come to birth in your land; and these will be your property. read more. And they will be your children's heritage after you, to keep as their property; they will be your servants for ever; but you may not be hard masters to your countrymen, the children of Israel. And if one from another nation living among you gets wealth, and your countryman, at his side, becomes poor and gives himself for money to the man from another nation or to one of his family; After he has given himself he has the right to be made free, for a price, by one of his brothers, Or his father's brother, or the son of his father's brother, or any near relation; or if he gets money, he may make himself free. And let the years be numbered from the time when he gave himself to his owner till the year of Jubilee, and the price given for him will be in relation to the number of years, on the scale of the payment of a servant. If there is still a long time, he will give back, on account of it, a part of the price which was given for him. And if there is only a short time, he will take account of it with his master, and in relation to the number of years he will give back the price of making him free. And he will be with him as a servant working for payment year by year; his master is not to be cruel to him before your eyes. And if he is not made free in this way, he will go out in the year of Jubilee, he and his children with him.
Do not take interest from an Israelite on anything, money or food or any other goods, which you let him have From men of other nations you may take interest, but not from an Israelite: so that the blessing of the Lord your God may be on everything to which you put your hand, in the land which you are about to take as your heritage.
If you let your brother have the use of anything which is yours, do not go into his house and take anything of his as a sign of his debt; But keep outside till he comes out and gives it to you. read more. If he is a poor man, do not keep his property all night; But be certain to give it back to him when the sun goes down, so that he may have his clothing for sleeping in, and will give you his blessing: and this will be put to your account as righteousness before the Lord your God.
Be upright in judging the cause of the man from a strange country and of him who has no father; do not take a widow's clothing on account of a debt:
My son, if you have made yourself responsible for your neighbour, or given your word for another,
He who makes himself responsible for a strange man will undergo much loss; but the hater of such undertakings will be safe.
A man without sense gives his hand in an agreement, and makes himself responsible before his neighbour.
Take a man's clothing if he makes himself responsible for a strange man, and get an undertaking from him who gives his word for strange men.
Take a man's clothing if he makes himself responsible for a strange man, and get an undertaking from him who gives his word for strange men.
Sorrow is mine, my mother, because you have given birth to me, a cause of fighting and argument in all the earth! I have not made men my creditors and I am not in debt to any, but every one of them is cursing me.
Fausets
(See USURY.) The merciful character of Moses' law appears in the command not to keep the poor man's outer garment, his covering by night as well as day, after sunset (Ex 22:26-27; De 24:6,10-13,17; compare, however, Pr 22:27). The millstone, including all instruments necessary to life, and a widow's garment, were forbidden to be taken. The creditor must not enter the debtor's house to seize the pledge, but wait for the debtor to bring out an adequate security for payment.
The debtor could be held as a bondman only until the seventh year, i.e. for six years, and not beyond the Jubilee year, whatever his period of service might be (Ex 21:2). Then he must be sent away with a liberal supply of provisions, the prospect of such a gift doubtless stimulating zeal in service (De 15:12-18; Le 25:39-55); his land was to be restored. But foreign slaves might be held in continual servitude (2Ki 4:1; Isa 50:1; 52:3). The Roman or else the oriental law detaining the debtor in prison until he paid the uttermost farthing, and even giving him over to torturers, is alluded to in Mt 5:26; 18:34.
See Verses Found in Dictionary
If you get a Hebrew servant for money, he is to be your servant for six years, and in the seventh year you are to let him go free without payment.
If ever you take your neighbour's clothing in exchange for the use of your money, let him have it back before the sun goes down: For it is the only thing he has for covering his skin; what is he to go to sleep in? and when his cry comes up to me, I will give ear, for my mercy is great.
And if your brother becomes poor and gives himself to you for money, do not make use of him like a servant who is your property; But let him be with you as a servant working for payment, till the year of Jubilee; read more. Then he will go out from you, he and his children with him, and go back to his family and to the property of his fathers. For they are my servants whom I took out from the land of Egypt; they may not become the property of another. Do not be a hard master to him, but have the fear of God before you. But you may get servants as property from among the nations round about; from them you may take men-servants and women-servants. And in addition, you may get, for money, servants from among the children of other nations who are living with you, and from their families which have come to birth in your land; and these will be your property. And they will be your children's heritage after you, to keep as their property; they will be your servants for ever; but you may not be hard masters to your countrymen, the children of Israel. And if one from another nation living among you gets wealth, and your countryman, at his side, becomes poor and gives himself for money to the man from another nation or to one of his family; After he has given himself he has the right to be made free, for a price, by one of his brothers, Or his father's brother, or the son of his father's brother, or any near relation; or if he gets money, he may make himself free. And let the years be numbered from the time when he gave himself to his owner till the year of Jubilee, and the price given for him will be in relation to the number of years, on the scale of the payment of a servant. If there is still a long time, he will give back, on account of it, a part of the price which was given for him. And if there is only a short time, he will take account of it with his master, and in relation to the number of years he will give back the price of making him free. And he will be with him as a servant working for payment year by year; his master is not to be cruel to him before your eyes. And if he is not made free in this way, he will go out in the year of Jubilee, he and his children with him. For the children of Israel are servants to me; they are my servants whom I took out of the land of Egypt: I am the Lord your God.
If one of your countrymen, a Hebrew man or woman, becomes your servant for a price and does work for you six years, in the seventh year let him go free. And when you make him free, do not let him go away with nothing in his hands: read more. But give him freely from your flock and from your grain and your wine: in the measure of the wealth which the Lord your God has given you, you are to give to him. And keep in mind that you yourself were a servant in the land of Egypt, and the Lord your God made you free: so I give you this order today. But if he says to you, I have no desire to go away from you; because you and your family are dear to him and he is happy with you; Then take a sharp-pointed instrument, driving it through his ear into the door, and he will be your servant for ever. And you may do the same for your servant-girl. Let it not seem hard to you that you have to send him away free; for he has been working for you for six years, which is twice the regular time for a servant: and the blessing of the Lord your God will be on you in everything you do.
No one is to take, on account of a debt, the stones with which grain is crushed: for in doing so he takes a man's living.
If you let your brother have the use of anything which is yours, do not go into his house and take anything of his as a sign of his debt; But keep outside till he comes out and gives it to you. read more. If he is a poor man, do not keep his property all night; But be certain to give it back to him when the sun goes down, so that he may have his clothing for sleeping in, and will give you his blessing: and this will be put to your account as righteousness before the Lord your God.
Be upright in judging the cause of the man from a strange country and of him who has no father; do not take a widow's clothing on account of a debt:
Now a certain woman, the wife of one of the sons of the prophets, came crying to Elisha and said, Your servant my husband is dead; and to your knowledge he was a worshipper of the Lord; but now, the creditor has come to take my two children as servants in payment of his debt.
If you have nothing with which to make payment, he will take away your bed from under you.
This is the word of the Lord: Where is the statement which I gave your mother when I put her away? or to which of my creditors have I given you for money? It was for your sins that you were given into the hands of others, and for your evil-doing was your mother put away.
For the Lord says, You were given for nothing, and you will be made free without price.
Truly I say to you, You will not come out from there till you have made payment of the very last farthing.
And his lord was very angry, and put him in the hands of those who would give him punishment till he made payment of all the debt.
Hastings
Smith
Loan.
The law strictly forbade any interest to be taken for a loan to any poor person, and at first, as it seems, even in the case of a foreigner; but this prohibition was afterward limited to Hebrews only, from whom, of whatever rank, not only was no usury on any pretence to be exacted, but relief to the poor by way of loan was enjoined, and excuses for evading this duty were forbidden.
As commerce increased, the practice of usury, and so also of suretyship, grew up; but the exaction of it from a Hebrew appears to have been regarded to a late period as discreditable.
Ps 15:5; Pr 6:1,4; 11:15; 17:18; 20:16; 22:26; Jer 15:10; Eze 18:13
Systematic breach of the law in this respect was corrected by Nehemiah after the return from captivity.
The money-changers, who had seats and tables in the temple, where traders whose profits arose chiefly from the exchange of money with those who came to pay their annual half-shekel. The Jewish law did not forbid temporary bondage in the case of debtors, but it forbade a Hebrew debtor to be detained as a bondman longer than the seventh year, or at farthest the year of jubilee.
See Verses Found in Dictionary
If you get a Hebrew servant for money, he is to be your servant for six years, and in the seventh year you are to let him go free without payment.
If you let any of the poor among my people have the use of your money, do not be a hard creditor to him, and do not take interest.
And if your brother becomes poor and is not able to make a living, then you are to keep him with you, helping him as you would a man from another country who is living among you.
Do not take interest on the money which you let him have or on the food which you give him.
And if your brother becomes poor and gives himself to you for money, do not make use of him like a servant who is your property;
For they are my servants whom I took out from the land of Egypt; they may not become the property of another.
And see that there is no evil thought in your heart, moving you to say to yourself, The seventh year, the year of forgiveness is near; and so looking coldly on your poor countryman you give him nothing; and he will make an outcry to the Lord against you, and it will be judged as sin in you.
Then there was a great outcry from the people and their wives against their countrymen the Jews.
And shaking out the folds of my robe, I said, So may God send out from his house and his work every man who does not keep this agreement; even so let him be sent out and made as nothing. And all the meeting of the people said, So be it, and gave praise to the Lord. And the people did as they had said.
My son, if you have made yourself responsible for your neighbour, or given your word for another,
He who makes himself responsible for a strange man will undergo much loss; but the hater of such undertakings will be safe.
A man without sense gives his hand in an agreement, and makes himself responsible before his neighbour.
Take a man's clothing if he makes himself responsible for a strange man, and get an undertaking from him who gives his word for strange men.
Be not one of those who give their hands in an agreement, or of those who make themselves responsible for debts:
Sorrow is mine, my mother, because you have given birth to me, a cause of fighting and argument in all the earth! I have not made men my creditors and I am not in debt to any, but every one of them is cursing me.
And has given out his money at interest and taken great profits: he will certainly not go on living: he has done all these disgusting things: death will certainly be his fate; his blood will be on him.