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, he shall serve six years. And in the seventh he shall go out free for nothing.
If you lend money to one of My people who is poor beside you, you shall not be to him as a money-lender, neither shall you lay upon him interest. If you at all take your neighbor's clothing as a pledge, you shall deliver it to him by the time the sun goes down. read more. For that is his covering only, it is his clothing for his skin. In what shall he sleep? And it will be, when he cries to Me, I will hear, for I am gracious.
And if your brother has become poor, and his hand has failed with you, then you shall help him; yes, even if he is a stranger or a tenant, so that he may live with you. You shall take no interest from him, or increase. But you shall fear your God, so that your brother may live with you. read more. You shall not give him your silver on interest, nor lend him your food for increase. I am Jehovah 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 who lives beside you has become poor, and is sold to you, you shall not compel him to serve as a bond-servant.
For they are My servants, whom I brought forth out of the land of Egypt. They shall not be sold as a slave.
Both your male slaves, and your female slaves whom you shall have, shall be of the nations that are all around you. You shall buy male slaves and female slaves from them. And also you may buy of the sons of the tenants who are staying with you; and from their families that are with you, whom they fathered in your land. And they shall be your possession. read more. And you shall take them as an inheritance for your sons after you, to hold for a possession; you may lay service on them forever. But you shall not rule over your brothers, the sons of Israel, over one another, with harshness. And if an alien or a tenant lifts up a hand among you, and your brother who dwells beside him becomes poor and sells himself to the alien or tenant by you, or to the offshoot of the alien's family, after he is sold he may be redeemed again. One of his brothers may redeem him; either his uncle or his uncle's son may redeem him, or any that is near of kin to him of his family may redeem him. Or if he is able, he may redeem himself. And he shall count with his buyer from the year that he was sold to him, until the year of jubilee. And the price of his sale shall be according to the number of years, according to the time of a hired servant it shall be with him. If there are still many years, he shall give again the price of his redemption out of the silver that he was bought for, according to the years. And if there remain but few years to the year of jubilee, then he shall count with him, and according to his years he shall give him again the price of his redemption. As a yearly hired servant he shall be with him; he shall not rule with harshness in your sight. And if he is not redeemed in this way, then he shall go out in the year of jubilee, he and his sons with him.
You shall not lend for interest to your brother, interest of silver, interest of food, interest of anything that is loaned on interest. You may lend on interest to a stranger, but you shall not lend on interest to your brother, so that Jehovah your God may bless you in all that you set your hand to in the land where you go to possess it.
When you loan a loan of any kind to your brother, you shall not go into his house to bring forth his pledge. You shall stand outside, and the man to whom you loan shall bring the pledge outside to you. read more. And if the man is poor, you shall not sleep with his pledge. You shall certainly give back to him the pledge at sundown, that he may sleep in his own clothing, and bless you. And it shall be righteousness to you before Jehovah your God.
You shall not pervert the rightful judgment of the stranger nor of the fatherless; nor take a widow's clothing to pledge.
he has not put out his money at interest, nor has he taken a bribe against the innocent. He who does these things shall not be moved forever.
My son, if you are surety for your friend, if you struck your palms with a stranger,
Do not give sleep to your eyes or slumber to your eyelids.
He who is surety for a stranger shall be ruined; and he who hates suretyship is safe.
A man lacking heart strikes hands; he pledges in the presence of his friend.
Take the garment of him who is surety for a stranger; and take a pledge from him for strangers.
Take his robe that is surety for a stranger, and take a pledge from him for a strange 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 not loaned, nor have men loaned to me; yet every one curses 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, he shall serve six years. And in the seventh he shall go out free for nothing.
If you at all take your neighbor's clothing as a pledge, you shall deliver it to him by the time the sun goes down. For that is his covering only, it is his clothing for his skin. In what shall he sleep? And it will be, when he cries to Me, I will hear, for I am gracious.
And if your brother who lives beside you has become poor, and is sold to you, you shall not compel him to serve as a bond-servant. As a hired servant, as a temporary resident, he shall be with you, and shall serve you until the year of jubilee. read more. And he shall depart from you, he and his sons with him, and shall return to his own family. And he shall return to the possession of his fathers. For they are My servants, whom I brought forth out of the land of Egypt. They shall not be sold as a slave. You shall not rule over him with rigor, but shall fear your God. Both your male slaves, and your female slaves whom you shall have, shall be of the nations that are all around you. You shall buy male slaves and female slaves from them. And also you may buy of the sons of the tenants who are staying with you; and from their families that are with you, whom they fathered in your land. And they shall be your possession. And you shall take them as an inheritance for your sons after you, to hold for a possession; you may lay service on them forever. But you shall not rule over your brothers, the sons of Israel, over one another, with harshness. And if an alien or a tenant lifts up a hand among you, and your brother who dwells beside him becomes poor and sells himself to the alien or tenant by you, or to the offshoot of the alien's family, after he is sold he may be redeemed again. One of his brothers may redeem him; either his uncle or his uncle's son may redeem him, or any that is near of kin to him of his family may redeem him. Or if he is able, he may redeem himself. And he shall count with his buyer from the year that he was sold to him, until the year of jubilee. And the price of his sale shall be according to the number of years, according to the time of a hired servant it shall be with him. If there are still many years, he shall give again the price of his redemption out of the silver that he was bought for, according to the years. And if there remain but few years to the year of jubilee, then he shall count with him, and according to his years he shall give him again the price of his redemption. As a yearly hired servant he shall be with him; he shall not rule with harshness in your sight. And if he is not redeemed in this way, then he shall go out in the year of jubilee, he and his sons with him. For to Me the sons of Israel are servants. They are My servants whom I brought forth out of the land of Egypt. I am Jehovah your God.
If your brother, a Hebrew man or a Hebrew woman, is sold to you and serves 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 richly bestow on him from your flock, and from your grain floor, and from your winepress; with what Jehovah your God has blessed you, you shall give to him. And you shall remember that you were a slave in the land of Egypt, and Jehovah your God redeemed you. Therefore I command you this thing today. And if he says to you, I will not go away from you, because he loves you and your house, because it has been good for him with you; then you shall take an awl and put it through his ear to the door, and he shall be your servant forever. And also to your slave-girl you shall do so. It shall not seem hard to you when you send him away from you free, for he has been worth a double hired servant in serving you six years. And Jehovah your God shall bless you in all that you do.
No man shall take the lower or the upper millstone to pledge, for he takes a man's life to pledge.
When you loan a loan of any kind to your brother, you shall not go into his house to bring forth his pledge. You shall stand outside, and the man to whom you loan shall bring the pledge outside to you. read more. And if the man is poor, you shall not sleep with his pledge. You shall certainly give back to him the pledge at sundown, that he may sleep in his own clothing, and bless you. And it shall be righteousness to you before Jehovah your God.
You shall not pervert the rightful judgment of the stranger nor of the fatherless; nor take a widow's clothing to pledge.
And a certain woman of the wives of the sons of the prophets cried to Elisha, saying, Your servant my husband is dead. And you know that your servant feared Jehovah. And the lender has come to take my two children to himself for slaves.
If you have nothing to pay, why should he take away your bed from under you?
So says Jehovah, Where is your mother's bill of divorce, whom I have put away? Or to which of My creditors have I sold you? Behold, you were sold for your iniquities, and your mother is put away for your sins.
For so says Jehovah, You were sold for nothing; and you shall not be redeemed with silver.
Truly I say to you, You shall by no means come out from there until you have paid the last kodrantes.
And his lord was angry, and delivered him to the tormentors until he should pay all that was due 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 you buy a Hebrew servant, he shall serve six years. And in the seventh he shall go out free for nothing.
If you lend money to one of My people who is poor beside you, you shall not be to him as a money-lender, neither shall you lay upon him interest.
And if your brother has become poor, and his hand has failed with you, then you shall help him; yes, even if he is a stranger or a tenant, so that he may live with you.
You shall not give him your silver on interest, nor lend him your food for increase.
And if your brother who lives beside you has become poor, and is sold to you, you shall not compel him to serve as a bond-servant.
For they are My servants, whom I brought forth out of the land of Egypt. They shall not be sold as a slave.
Beware that there is not a thought in your wicked heart, saying, The seventh year, the year of release, is at hand, and your eye may be evil against your poor brother, and you give him nothing. And he may cry to Jehovah against you, and it is sin to you.
And there was a great cry of the people and of their wives against their brothers the Jews.
Also I shook my lap and said, So let God shake out every man from his house, and from his labor, who does not keep this promise, even may he be shaken out this way and emptied. And all the congregation said, amen, and praised Jehovah. And the people did according to this promise.
he has not put out his money at interest, nor has he taken a bribe against the innocent. He who does these things shall not be moved forever.
My son, if you are surety for your friend, if you struck your palms with a stranger,
Do not give sleep to your eyes or slumber to your eyelids.
He who is surety for a stranger shall be ruined; and he who hates suretyship is safe.
A man lacking heart strikes hands; he pledges in the presence of his friend.
Take the garment of him who is surety for a stranger; and take a pledge from him for strangers.
Be not one of those who strike hands, of those who are sureties 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 not loaned, nor have men loaned to me; yet every one curses me.
has loaned on usury; 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 on him.