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 thou buy a Hebrew bondman, six years shall he serve; and in the seventh he shall go out free for nothing.
if thou lend money to my people, the poor with thee,thou shalt not be to him as a usurer: ye shall charge him no interest. If thou at all take thy neighbour's garment in pledge, thou shalt return it to him before the sun goes down; read more. for that is his only covering, his garment for his skin: on what shall he lie down? And it shall come to pass, when he crieth unto me, that I will hear; for I am gracious.
And if thy brother grow poor, and he be fallen into decay beside thee, then thou shalt relieve him, be he stranger or sojourner, that he may live beside thee. Thou shalt take no usury nor increase of him; and thou shalt fear thy God; that thy brother may live beside thee. read more. Thy money shalt thou not give him upon usury, nor lend him thy victuals for increase. I am Jehovah your God, who brought you forth out of the land of Egypt, to give you the land of Canaan, to be your God. And if thy brother grow poor beside thee, and be sold unto thee, thou shalt not compel him to serve as a bondservant:
For they are my bondmen, whom I brought forth out of the land of Egypt: they shall not be sold as men sell bondmen.
And as for thy bondman and thy handmaid whom thou shalt have of the nations that are round about you, of them shall ye buy bondmen and handmaids. Moreover of the children of them that dwell as sojourners with you, of them may ye buy, and of their family that is with you, which they beget in your land, and they shall be your possession. read more. And ye shall leave them as an inheritance to your children after you, to inherit them as a possession: these may ye make your bondmen for ever; but as for your brethren, the children of Israel, ye shall not rule over one another with rigour. And if a stranger or sojourner become wealthy beside thee, and thy brother beside him grow poor, and sell himself unto the stranger, who is settled by thee, or to a scion of the stranger's family, after that he is sold there shall be right of redemption for him; one of his brethren may redeem him. Either his uncle or his uncle's son may redeem him, or one of his next relations of his family may redeem him; or if his means be sufficient, he may redeem himself. And he shall reckon with him that bought him from the year that he was sold to him unto the year of jubilee; and the price of his sale shall be according to the number of the years, according to the days of a hired servant shall he be with him. If there are yet many years, according unto them shall he return his redemption money out of the money that he was bought for; and if there remain but few years unto the year of jubilee, then he shall reckon with him; according unto his remaining years of service shall he give him back his redemption money. As a hired servant shall he be with him year by year; his master shall not rule with rigour over him before thine eyes. And if he be not redeemed in this manner, then he shall go out in the year of jubilee, he and his children with him.
Thou shalt take no interest of thy brother, interest of money, interest of victuals, interest of anything that can be lent upon interest: of a foreigner thou mayest take interest, but of thy brother thou shalt not take interest; that Jehovah thy God may bless thee in all the business of thy hand in the land whither thou goest to possess it.
When thou dost lend thy brother anything, thou shalt not go into his house to secure his pledge. Thou shalt stand outside, and the man to whom thou hast made a loan shall bring out the pledge to thee without. read more. And if the man be needy, thou shalt not lie down with his pledge; in any case thou shalt return him the pledge at the going down of the sun, that he may sleep in his own upper garment and bless thee; and it shall be righteousness unto thee before Jehovah thy God.
Thou shalt not pervert the judgment of the stranger, or of the fatherless; and thou shalt not take in pledge a widow's garment.
He that putteth not out his money to usury, nor taketh reward against the innocent. He that doeth these things shall never be moved.
My son, if thou hast become surety for thy friend, if thou hast stricken thy hand for a stranger,
It goeth ill with him that is surety for another; but he that hateth suretyship is secure.
A senseless man striketh hands, becoming surety for his neighbour.
Take his garment that is become surety for another, and hold him in pledge for strangers.
Take his garment that is become surety for another, and hold him in pledge for a strange woman.
Woe is me, my mother, that thou hast borne me a man of strife and a man of contention to the whole land! I have not lent on usury, nor have they lent to me on usury; yet every one of them doth curse 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 thou buy a Hebrew bondman, six years shall he serve; and in the seventh he shall go out free for nothing.
If thou at all take thy neighbour's garment in pledge, thou shalt return it to him before the sun goes down; for that is his only covering, his garment for his skin: on what shall he lie down? And it shall come to pass, when he crieth unto me, that I will hear; for I am gracious.
And if thy brother grow poor beside thee, and be sold unto thee, thou shalt not compel him to serve as a bondservant: as a hired servant, as a sojourner, shall he be with thee; until the year of jubilee shall he serve thee. read more. Then shall he depart from thee, he and his children with him, and shall return unto his own family, and unto the possession of his fathers shall he return. For they are my bondmen, whom I brought forth out of the land of Egypt: they shall not be sold as men sell bondmen. Thou shalt not rule over him with rigour; and thou shalt fear thy God. And as for thy bondman and thy handmaid whom thou shalt have of the nations that are round about you, of them shall ye buy bondmen and handmaids. Moreover of the children of them that dwell as sojourners with you, of them may ye buy, and of their family that is with you, which they beget in your land, and they shall be your possession. And ye shall leave them as an inheritance to your children after you, to inherit them as a possession: these may ye make your bondmen for ever; but as for your brethren, the children of Israel, ye shall not rule over one another with rigour. And if a stranger or sojourner become wealthy beside thee, and thy brother beside him grow poor, and sell himself unto the stranger, who is settled by thee, or to a scion of the stranger's family, after that he is sold there shall be right of redemption for him; one of his brethren may redeem him. Either his uncle or his uncle's son may redeem him, or one of his next relations of his family may redeem him; or if his means be sufficient, he may redeem himself. And he shall reckon with him that bought him from the year that he was sold to him unto the year of jubilee; and the price of his sale shall be according to the number of the years, according to the days of a hired servant shall he be with him. If there are yet many years, according unto them shall he return his redemption money out of the money that he was bought for; and if there remain but few years unto the year of jubilee, then he shall reckon with him; according unto his remaining years of service shall he give him back his redemption money. As a hired servant shall he be with him year by year; his master shall not rule with rigour over him before thine eyes. And if he be not redeemed in this manner, then he shall go out in the year of jubilee, he and his children with him. For the children of Israel are servants unto me; they are my servants whom I brought forth out of the land of Egypt: I am Jehovah your God.
If thy brother, a Hebrew man, or a Hebrew woman, have been sold unto thee, he shall serve thee six years, and in the seventh year thou shalt let him go free from thee. And when thou sendest him out free from thee, thou shalt not let him go away empty; read more. thou shalt certainly furnish him from thy sheep, and out of thy floor, and out of thy winepress: of what Jehovah thy God hath blessed thee with shalt thou give unto him. And thou shalt remember that thou wast a bondman in the land of Egypt, and that Jehovah thy God redeemed thee; therefore I command thee this thing to-day. And it shall be, if he say unto thee, I will not go away from thee, because he loveth thee and thy house, because he is well with thee, -- then thou shalt take an awl, and thrust it through his ear and into the door; and he shall be thy bondman for ever. And also unto thy handmaid thou shalt do likewise. Let it not seem hard unto thee, when thou sendest him away free from thee; for double the worth of a hired servant hath he been to thee, in serving thee six years; and Jehovah thy God will bless thee in all that thou doest.
No man shall take the hand-mill or the upper millstone in pledge; for it would be taking life in pledge.
When thou dost lend thy brother anything, thou shalt not go into his house to secure his pledge. Thou shalt stand outside, and the man to whom thou hast made a loan shall bring out the pledge to thee without. read more. And if the man be needy, thou shalt not lie down with his pledge; in any case thou shalt return him the pledge at the going down of the sun, that he may sleep in his own upper garment and bless thee; and it shall be righteousness unto thee before Jehovah thy God.
Thou shalt not pervert the judgment of the stranger, or of the fatherless; and thou shalt not take in pledge a widow's garment.
And a woman of the wives of the sons of the prophets cried to Elisha saying, Thy servant my husband is dead, and thou knowest that thy servant feared Jehovah; and the creditor is come to take my two children to be bondmen.
Thus saith Jehovah: Where is the bill of your mother's divorce, whom I have put away? or which of my creditors is it to whom I have sold you? Behold, through your iniquities have ye sold yourselves, and for your transgressions is your mother put away.
For thus saith Jehovah: Ye have sold yourselves for nought, and ye shall be redeemed without money.
Verily I say to thee, Thou shalt in no wise come out thence till thou hast paid the last farthing.
And his lord being angry delivered him to the tormentors till he paid all that was owing to him.
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 thou buy a Hebrew bondman, six years shall he serve; and in the seventh he shall go out free for nothing.
if thou lend money to my people, the poor with thee,thou shalt not be to him as a usurer: ye shall charge him no interest.
And if thy brother grow poor, and he be fallen into decay beside thee, then thou shalt relieve him, be he stranger or sojourner, that he may live beside thee.
Thy money shalt thou not give him upon usury, nor lend him thy victuals for increase.
And if thy brother grow poor beside thee, and be sold unto thee, thou shalt not compel him to serve as a bondservant:
For they are my bondmen, whom I brought forth out of the land of Egypt: they shall not be sold as men sell bondmen.
Beware that there be not a wicked thought in thy heart, saying, The seventh year, the year of release, is at hand; and thine eye be evil against thy poor brother, and thou givest him nought; and he cry against thee to Jehovah, and it be sin in thee.
And there was a great cry of the people and of their wives against their brethren the Jews.
Also I shook my lap, and said, So God shake out every man from his house and from his earnings, that performeth not this promise: even thus be he shaken out and emptied! And all the congregation said, Amen! And they praised Jehovah. And the people did according to this promise.
He that putteth not out his money to usury, nor taketh reward against the innocent. He that doeth these things shall never be moved.
My son, if thou hast become surety for thy friend, if thou hast stricken thy hand for a stranger,
It goeth ill with him that is surety for another; but he that hateth suretyship is secure.
A senseless man striketh hands, becoming surety for his neighbour.
Take his garment that is become surety for another, and hold him in pledge for strangers.
Woe is me, my mother, that thou hast borne me a man of strife and a man of contention to the whole land! I have not lent on usury, nor have they lent to me on usury; yet every one of them doth curse me.