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 buy a Hebrew servant, six years he shall serve: and in the seventh he shall go out free for nothing.
If you lend money to any of my people who is poor among you, you shall not be to him as a lender, neither shall you charge him interest. If you at all take your neighbor's clothing as pledge, you shall deliver it unto him by the time the sun goes down: read more. For that is his only covering, it is his clothing for his skin: in what shall he sleep? and it shall come to pass, when he cries unto me, that I will hear; for I am gracious.
And if your brother becomes poor, and falls into poverty among you; then you shall help him: yea, though he be a stranger, or a sojourner; that he may live with you. Take you no interest from him, or profit: but fear your God; that your brother may live with you. read more. You shall not lend him your money at interest, nor lend him your food for profit. I am the LORD your God, who brought you forth out of the land of Egypt, to give you the land of Canaan, and to be your God. And if your brother that dwells by you becomes poor, and is sold unto you; you shall not compel him to serve as a slave:
For they are my servants, whom I brought forth out of the land of Egypt: they shall not be sold as slaves.
Both your male and female slaves, whom you shall have, shall be of the nations that are round about you; of them shall you buy male and female slaves. Also of the children of the strangers that do sojourn among you, of them shall you buy, and of their families that are with you, whom they begat in your land: and they shall be your possession. read more. And you shall take them as an inheritance for your children after you, to inherit them for a possession; they shall be your slaves forever: but over your brethren the children of Israel, you shall not rule one over another with harshness. And if a sojourner or stranger becomes rich near you, and your brother that dwells near him becomes poor, and sells himself unto the stranger or sojourner near you, or to a member of the stranger's family: After he is sold he may be redeemed again; one of his brethren may redeem him: Either his uncle, or his uncle's son, may redeem him, or any that is near of kin unto him of his family may redeem him; or if he is able, 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 release shall be according unto the number of years, according to the time of a hired servant shall it be with him. If there be yet many years left, according unto them he shall give again the price of his redemption out of the money that he was bought for. And if there remain but few years unto the year of jubilee, then he shall count with him, and according unto his years shall he give him again the price of his redemption. And as a yearly hired servant shall he be with him: and the other shall not rule with harshness over him in your sight. And if he be not redeemed in these years, then he shall go out in the year of jubilee, both he, and his children with him.
You shall not charge interest to your brother; interest on money, interest on food, interest on anything that is lent for interest: Unto a stranger you may lend for interest; but unto your brother you shall not lend for interest: that the LORD your God may bless you in all that you set your hand to in the land where you go to possess it.
When you do lend your brother anything, you shall not go into his house to get his pledge. You shall stand outside, and the man to whom you do lend shall bring out the pledge unto you. read more. And if the man be poor, you shall not sleep with his pledge: In any case you shall deliver him the pledge again when the sun goes down, that he may sleep in his own clothing, and bless you: and it shall be righteousness unto you before the LORD your God.
You shall not pervert the justice due the stranger, nor the fatherless; nor take a widow's clothing as pledge:
He that puts not out his money at interest, nor takes reward against the innocent. He that does these things shall never be moved.
My son, if you become surety for your friend, if you have struck your hand with a stranger,
Give not sleep to your eyes, nor slumber to your eyelids.
He that is surety for a stranger shall suffer for it: and he that hates being surety is secure.
A man void of understanding gives pledge, and becomes surety in the presence of his neighbor.
Take his garment who is surety for a stranger: and hold it as a pledge of him for an immoral woman.
Take his garment who is surety for a stranger, and hold it as a pledge of him for an immoral woman.
Woe is me, my mother, that you have borne me a man of strife and a man of contention to the whole earth! I have neither lent for interest, nor men have lent to me for interest; yet everyone of them does 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 you buy a Hebrew servant, six years he shall serve: and in the seventh he shall go out free for nothing.
If you at all take your neighbor's clothing as pledge, you shall deliver it unto him by the time the sun goes down: For that is his only covering, it is his clothing for his skin: in what shall he sleep? and it shall come to pass, when he cries unto me, that I will hear; for I am gracious.
And if your brother that dwells by you becomes poor, and is sold unto you; you shall not compel him to serve as a slave: But as a hired servant, and as a sojourner, he shall be with you, and shall serve you until the year of jubilee: read more. And then shall he depart from you, both 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 servants, whom I brought forth out of the land of Egypt: they shall not be sold as slaves. You shall not rule over him with harshness; but shall fear your God. Both your male and female slaves, whom you shall have, shall be of the nations that are round about you; of them shall you buy male and female slaves. Also of the children of the strangers that do sojourn among you, of them shall you buy, and of their families that are with you, whom they begat in your land: and they shall be your possession. And you shall take them as an inheritance for your children after you, to inherit them for a possession; they shall be your slaves forever: but over your brethren the children of Israel, you shall not rule one over another with harshness. And if a sojourner or stranger becomes rich near you, and your brother that dwells near him becomes poor, and sells himself unto the stranger or sojourner near you, or to a member of the stranger's family: After he is sold he may be redeemed again; one of his brethren may redeem him: Either his uncle, or his uncle's son, may redeem him, or any that is near of kin unto him of his family may redeem him; or if he is able, 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 release shall be according unto the number of years, according to the time of a hired servant shall it be with him. If there be yet many years left, according unto them he shall give again the price of his redemption out of the money that he was bought for. And if there remain but few years unto the year of jubilee, then he shall count with him, and according unto his years shall he give him again the price of his redemption. And as a yearly hired servant shall he be with him: and the other shall not rule with harshness over him in your sight. And if he be not redeemed in these years, then he shall go out in the year of jubilee, both he, and his children with him. For unto me the children of Israel are servants; they are my servants whom I brought forth out of the land of Egypt: I am the LORD your God.
And if your brother, a Hebrew man, or a Hebrew woman, be sold unto you, and serve you six years; then in the seventh year you shall let him go free from you. And when you send him out free from you, you shall not let him go away empty: read more. You shall furnish him liberally out of your flock, and out of your threshing floor, and out of your winepress: of that with which the LORD your God has blessed you you shall give unto him. And you shall remember that you were a slave in the land of Egypt, and the LORD your God redeemed you: therefore I command you this thing today. And it shall be, if he say unto you, I will not go away from you; because he loves you and your house, because he fares well with you; Then you shall take an awl, and thrust it through his ear unto the door, and he shall be your servant forever. And also unto your maidservant you shall do likewise. It shall not seem hard unto you, when you send him away free from you; for he has been worth a double hired servant to you, in serving you six years: and the LORD your God shall bless you in all that you do.
No man shall take the lower or the upper millstone in pledge: for he takes a man's living in pledge.
When you do lend your brother anything, you shall not go into his house to get his pledge. You shall stand outside, and the man to whom you do lend shall bring out the pledge unto you. read more. And if the man be poor, you shall not sleep with his pledge: In any case you shall deliver him the pledge again when the sun goes down, that he may sleep in his own clothing, and bless you: and it shall be righteousness unto you before the LORD your God.
You shall not pervert the justice due the stranger, nor the fatherless; nor take a widow's clothing as pledge:
Now there cried a certain woman of the wives of the sons of the prophets unto Elisha, saying, Your servant my husband is dead; and you know that your servant did fear the LORD: and the creditor has come to take unto him my two sons to be slaves.
If you have nothing to pay, why should he take away your bed from under you?
Thus says the LORD, Where is the bill of your mother's divorcement, whom I have put away? or which of my creditors is it to whom I have sold you? Behold, for your iniquities have you sold yourselves, and for your transgressions is your mother put away.
For thus says the LORD, You have sold yourselves for nothing; and you shall be redeemed without money.
Verily I say unto you, you shall by no means come out of there, till you have paid the last penny.
And his lord was angry, and delivered him to the jailers, till he should pay all that was due unto 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 you buy a Hebrew servant, six years he shall serve: and in the seventh he shall go out free for nothing.
If you lend money to any of my people who is poor among you, you shall not be to him as a lender, neither shall you charge him interest.
And if your brother becomes poor, and falls into poverty among you; then you shall help him: yea, though he be a stranger, or a sojourner; that he may live with you.
You shall not lend him your money at interest, nor lend him your food for profit.
And if your brother that dwells by you becomes poor, and is sold unto you; you shall not compel him to serve as a slave:
For they are my servants, whom I brought forth out of the land of Egypt: they shall not be sold as slaves.
Beware that there be not a thought in your wicked heart, saying, The seventh year, the year of release, is at hand; and your eye be evil against your poor brother, and you give him nothing; and he cries unto the LORD against you, and it be sin in you.
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 labor, that performs not this promise, even thus be he shaken out, and emptied. And all the congregation said, Amen, and praised the LORD. And the people did according to this promise.
He that puts not out his money at interest, nor takes reward against the innocent. He that does these things shall never be moved.
My son, if you become surety for your friend, if you have struck your hand with a stranger,
Give not sleep to your eyes, nor slumber to your eyelids.
He that is surety for a stranger shall suffer for it: and he that hates being surety is secure.
A man void of understanding gives pledge, and becomes surety in the presence of his neighbor.
Take his garment who is surety for a stranger: and hold it as a pledge of him for an immoral woman.
Be not one of them that gives pledges, or of them that become surety for debts.
Woe is me, my mother, that you have borne me a man of strife and a man of contention to the whole earth! I have neither lent for interest, nor men have lent to me for interest; yet everyone of them does curse me.
Has lent money for interest, and has taken increase: shall he then live? he shall not live: he has done all these abominations; he shall surely die; his blood shall be upon him.