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
When thou shalt acquire a servant who is a Hebrew, six years, shall he serve, - but in the seventh shall he go out freely - for nought.
If, silver, thou wilt lend unto my people - unto the humbled one by thee, thou shalt not be to him like one that lendeth on interest, - thou shalt not lay upon him interest. If thou, do take in pledge, the mantle of thy neighbour, by the going in of the sun, shalt thou restore it to him; read more. for that is his only covering, that, is his mantle, for his skin, - wherein shall he sleep? and it shall come to pass when he maketh outcry unto me, then will I hear because, gracious, I am.
And, when thy brother waxeth poor, and his hand becometh feeble with thee, then shalt thou strengthen him, as a sojourner and a settler, so shall he live with thee. Do not accept from him interest or profit, but stand thou in awe of thy God, - so shall thy brother live with thee. read more. Thy silver, shalt thou not give him on interest, - neither, for profit, shalt thou give him thy food. I - Yahweh, am your God, who brought you forth out of the land of Egypt, - to give unto you the land of Canaan, to become your God, And when thy brother waxeth poor with thee, and so selleth himself unto thee, thou shalt not bind him with the bondage of a bondman:
For, my bondmen, they are, whom I brought forth out of the land of Egypt, - they shall not sell themselves with the sale of a bondman.
And as for thy bondman and thy bond-maid which thou shalt have, of the nations that are round about you - from them, may ye buy bondman and bond-maid. Moreover also, of the sons of the settlers who are sojourning with you - of them, may ye buy, and of their families that are with you, which they have begotten in your land, - so shall they become yours, as a possession; read more. and ye may take them as an inheritance for your sons after you to inherit as a possession, unto times age-abiding, of them, may ye take to be bondmen, - but, over your brethren the sons of Israel - a man over his brother, ye shall not rule, over him with rigour. And, when the hand of the sojourner and settler with thee getteth possessions, and thy brother with him, waxeth poor, - and so he selleth himself to the sojourner who is a settler with thee, or to one who hath taken root, of the family of the sojourner, after that he hath sold himself, a right of redemption, pertaineth to him, - one of his brethren, may redeem him; or, his uncle or his uncle's son, may redeem him, or, a near flesh-relation of his, of his family, may redeem him, or, his own hand may have gotten enough, and, so he may redeem himself. Then shall he reckon with him that bought him, from the year that he was sold to him, unto the year of the jubilee, - and the silver for which he was sold shall be by the number of years, according to the days of a hired servant, shall he be with him. If there is yet a multitude of years, according to them, shall he return, as his redemption price, of the silver of him that bought him. Or, if there is but a small remainder of years, until the year of the jubilee, then shall he reckon to himself, according to the years thereof, shall he return his price of redemption. As a servant hired year by year, shall he be with him, he shall not rule over him with rigour, before thine eyes. But if he be not redeemed in any of these ways, then shall he go out in the jubilee year, he, and his sons with him.
Thou shalt not lend on interest to thy brother, interest of silver, interest of food, - interest of any thing that can be lent on interest: to a foreigner, thou mayest lend on interest, but to thy brother, shalt thou not lend on interest, - that Yahweh thy God may bless thee, in everything where-unto thou puttest thy hand, upon the land which thou art entering to possess.
When thou lendest thy neighbour a loan of anything, thou shalt not enter into his house to secure his pledge: outside, shalt thou stand, and the man to whom thou art lending, shall bring forth unto thee his pledge outside, read more. And, if he be a poor man, thou shalt not sleep in his pledge: thou shalt, restore, to him the pledge at the going in of the sun, so shall he sleep in his own mantle, and bless thee, - and, unto thee, shall it be righteous-ness before Yahweh thy God.
Thou shalt not pervert the judgment of the sojourner or the fatherless, - neither shalt thou take in pledge the garment of a widow;
His silver, hath he not put out on interest, nor, a bribe against the innocent, hath he taken. He that doeth these things, shall not be shaken unto times age-abiding.
My son, if thou have become surety for thy neighbour, - have struck for a stranger thy hands,
Do not give sleep to thine eyes, or slumber to thine eyelashes;
He that becometh surety for a stranger, goeth to utter ruin, but, he that hateth striking hands, is secure.
A man lacking sense, is one who striketh hands, giving security, before his neighbour.
Take his garment who is pledge for a stranger, - then, for a woman unknown, accept him as surety.
Take a man's garment when he hath become pledge for stranger, then, for a female unknown, accept him as surety.
Woe to me! my mother, That thou didst bear me, A man of litigation and a man of contention to all the land, - I have not lent on interest Nor have they lent on interest to me, Every one, hath treated me with contempt.
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
When thou shalt acquire a servant who is a Hebrew, six years, shall he serve, - but in the seventh shall he go out freely - for nought.
If thou, do take in pledge, the mantle of thy neighbour, by the going in of the sun, shalt thou restore it to him; for that is his only covering, that, is his mantle, for his skin, - wherein shall he sleep? and it shall come to pass when he maketh outcry unto me, then will I hear because, gracious, I am.
And when thy brother waxeth poor with thee, and so selleth himself unto thee, thou shalt not bind him with the bondage of a bondman: as a hired servant, as a settler, shall he remain with thee, - until the year of the jubilee, shall he serve with thee: read more. then shall he go forth from thee, he and his sons with him, - and shall return unto his family, and unto the possession of his fathers, shall he return. For, my bondmen, they are, whom I brought forth out of the land of Egypt, - they shall not sell themselves with the sale of a bondman. Thou shalt not rule over him with rigour, - so shalt thou stand in awe of thy God. And as for thy bondman and thy bond-maid which thou shalt have, of the nations that are round about you - from them, may ye buy bondman and bond-maid. Moreover also, of the sons of the settlers who are sojourning with you - of them, may ye buy, and of their families that are with you, which they have begotten in your land, - so shall they become yours, as a possession; and ye may take them as an inheritance for your sons after you to inherit as a possession, unto times age-abiding, of them, may ye take to be bondmen, - but, over your brethren the sons of Israel - a man over his brother, ye shall not rule, over him with rigour. And, when the hand of the sojourner and settler with thee getteth possessions, and thy brother with him, waxeth poor, - and so he selleth himself to the sojourner who is a settler with thee, or to one who hath taken root, of the family of the sojourner, after that he hath sold himself, a right of redemption, pertaineth to him, - one of his brethren, may redeem him; or, his uncle or his uncle's son, may redeem him, or, a near flesh-relation of his, of his family, may redeem him, or, his own hand may have gotten enough, and, so he may redeem himself. Then shall he reckon with him that bought him, from the year that he was sold to him, unto the year of the jubilee, - and the silver for which he was sold shall be by the number of years, according to the days of a hired servant, shall he be with him. If there is yet a multitude of years, according to them, shall he return, as his redemption price, of the silver of him that bought him. Or, if there is but a small remainder of years, until the year of the jubilee, then shall he reckon to himself, according to the years thereof, shall he return his price of redemption. As a servant hired year by year, shall he be with him, he shall not rule over him with rigour, before thine eyes. But if he be not redeemed in any of these ways, then shall he go out in the jubilee year, he, and his sons with him. For, unto me, are the sons of Israel, bondmen, my bondmen, they are, whom I brought forth out of the land of Egypt. I, Yahweh, am your God.
When thy brother a Hebrew man (or a Hebrew woman) selleth himself unto thee, then shall he serve thee six years, - and in the seventh year, shalt thou let him go out free from thee; and when thou lettest him go out free, from thee, thou shalt not let him go out empty: read more. thou shalt, richly load, him out of thy flock, and out of thy threshing-floor and out of thy wine-vat, - of that wherewith Yahweh thy God hath blessed thee, shalt thou give unto him; and thou shalt remember that a servant, thou wast in the land of Egypt, and that Yahweh thy God, redeemed thee, - for this cause, am I commanding thee this thing, to-day. And it shall be, if he shall say unto thee, I will not go away from thee, - because he loveth thee, and thy household, because he is well off with thee, then shalt thou take an awl and thrust it through his ear unto the door, so shall he be thy servant all his life. And unto thine handmaid also, shalt thou do thus. It shall not be hard in thine eyes when thou lettest him go out free, from thee; for to the double of the hire of a hireling, hath he served thee six years, - -so will Yahweh thy God bless thee, in all that thou doest.
No man shall take in pledge a handmill, or an upper millstone, - for he would be taking life, in pledge.
When thou lendest thy neighbour a loan of anything, thou shalt not enter into his house to secure his pledge: outside, shalt thou stand, and the man to whom thou art lending, shall bring forth unto thee his pledge outside, read more. And, if he be a poor man, thou shalt not sleep in his pledge: thou shalt, restore, to him the pledge at the going in of the sun, so shall he sleep in his own mantle, and bless thee, - and, unto thee, shall it be righteous-ness before Yahweh thy God.
Thou shalt not pervert the judgment of the sojourner or the fatherless, - neither shalt thou take in pledge the garment of a widow;
Now, a certain woman of the wives of the sons of the prophets, made outcry unto Elisha, saying - Thy servant, my husband, is dead, and, thou, knowest that, thy servant, was one who revered Yahweh, - now, the creditor, hath come to take my two boys to himself as bondmen.
If thou hast nothing to pay, why should one take away thy bed from under thee?
Thus, saith Yahweh - Where then is the set, oil of your mothers divorce, whom I have put away? Or, which of my creditors, is it to whom I have sold you? Lo! for your iniquities, have ye been sold, And for your transgressions, hath your mother been put away.
For, thus, saith Yahweh, For nought, ye sold yourselves, - And not with silver, shall ye be redeemed,
Verily, I say unto thee, In nowise, mayest thou come out from thence, until thou pay the last halfpenny.
And, provoked to anger, his master delivered him up to the torturers, until he should pay all that was owing.
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
When thou shalt acquire a servant who is a Hebrew, six years, shall he serve, - but in the seventh shall he go out freely - for nought.
If, silver, thou wilt lend unto my people - unto the humbled one by thee, thou shalt not be to him like one that lendeth on interest, - thou shalt not lay upon him interest.
And, when thy brother waxeth poor, and his hand becometh feeble with thee, then shalt thou strengthen him, as a sojourner and a settler, so shall he live with thee.
Thy silver, shalt thou not give him on interest, - neither, for profit, shalt thou give him thy food.
And when thy brother waxeth poor with thee, and so selleth himself unto thee, thou shalt not bind him with the bondage of a bondman:
For, my bondmen, they are, whom I brought forth out of the land of Egypt, - they shall not sell themselves with the sale of a bondman.
Take thou heed to thyself lest there be something near thine abandoned heart, saying - Drawing nigh, is the seventh year the year of release, and so thine eye be evil, against thy needy brother, and thou give not unto him, - and he cry out against thee unto Yahweh, and it become in thee a sin!
Then came there to be a great outcry of the people and their wives, - against their brethren the Jews.
Also, my lap, shook I out, and said - Thus and thus, may God shake out every man who shall not confirm this promise, out of his house and out of his labour, yea, thus and thus, let him be shaken out and empty, - And all the convocation said, Amen! and praised Yahweh, and the people did according to this promise.
His silver, hath he not put out on interest, nor, a bribe against the innocent, hath he taken. He that doeth these things, shall not be shaken unto times age-abiding.
My son, if thou have become surety for thy neighbour, - have struck for a stranger thy hands,
Do not give sleep to thine eyes, or slumber to thine eyelashes;
He that becometh surety for a stranger, goeth to utter ruin, but, he that hateth striking hands, is secure.
A man lacking sense, is one who striketh hands, giving security, before his neighbour.
Take his garment who is pledge for a stranger, - then, for a woman unknown, accept him as surety.
Be not of them who strike hands, of them who are sureties for debts:
Woe to me! my mother, That thou didst bear me, A man of litigation and a man of contention to all the land, - I have not lent on interest Nor have they lent on interest to me, Every one, hath treated me with contempt.
Upon interest, hath put out. And increase, hath accepted - , And shall he live? He shall not live All these abominations, he hath done, He shall surely be put to death, His blood, upon himself, shall be.