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 servant that is an Hebrew, sixth years he shall serve, and the seventh he shall go out free paying nothing.
If thou lend money to any of my people that is poor by thee, thou shalt not be as an usurer unto him, neither shalt oppress him with usury. If thou take thy neighbor's raiment to pledge, see that thou deliver it unto him again by that the sun go down. read more. For that is his coverlet only: even the raiment for his skin wherein he sleepeth: or else he will cry unto me and I will hear him, for I am merciful.
"'If thy brother be waxed poor and fallen in decay with thee, receive him as a stranger or a sojourner, and let him live by thee. And thou shalt take none usury of him, nor yet vantage. But shalt fear thy God, that thy brother may live with thee. read more. Thou shalt not lend him thy money upon usury, nor lend him of thy food to have advantage by it; for I am the LORD your God which brought you out of the land of Egypt, to give you the land of Canaan and to be your God. "'If thy brother that dwelleth by thee wax poor and sell himself unto thee, thou shalt not let him labour as a bondservant doeth:
for they are my servants which I brought out of the land of Egypt, and shall not be sold as bondmen.
"'If thou wilt have bondservants and maidens, thou shalt buy them of the heathen that are round about you, and of the children of the strangers that are sojourners among you, and of their generations that are with you, which they begat in your land. read more. And ye shall possess them and give them unto your children after you, to possess them for ever: and they shall be your bondmen. But over your brethren the children of Israel, ye shall not reign one over another cruelly. "'When a stranger and a sojourner waxeth rich by thee, and thy brother that dwelleth by him waxeth poor and sell himself unto the stranger that dwelleth by thee or to any of the stranger's kin: after that he is sold he may be redeemed again: one of his brethren may buy him out; whether it be his uncle or his uncle's son, or any that is nigh of kin unto him of his kindred: either if his hand can get so much he may be loosed. And he shall reckon with him that bought him, from the year that he was sold in unto the trumpet year, and the price of his buying shall be according unto the number of years, and he shall be with him as a hired servant. If there be yet many years behind, according unto them he shall give again for his deliverance, of the money that he was sold for. If there remain but few years unto the trumpet year, he shall so count with him, and according unto his years give him again for his redemption, and shall be with him year by year as a hired servant, and the other shall not reign cruelly over him in thy sight. If he be not bought free in the meantime, then he shall go out in the trumpet year and his children with him;
Thou shalt be no usurer unto thy brother, neither in money nor in food, nor in any manner thing that is lent upon usury. Unto a stranger thou mayest lend upon usury, but not unto thy brother, that the LORD thy God may bless thee in all that thou settest thine hand to in the land whither thou goest to conquer it.
If thou lend thy brother any manner succour, thou shalt not go into his house to fetch a pledge: but shalt stand without and the man to whom thou lendest, shall bring thee the pledge out at the door. read more. Furthermore, if it be a poor body, go not to sleep with his pledge: but deliver him the pledge again by that the sun go down, and let him sleep in his own raiment and bless thee. And it shall be righteousness unto thee, before the LORD thy God.
Hinder not the right of the stranger nor of the fatherless, nor take widow's raiment to pledge.
He that hath not given his money upon usury, nor taken reward against the innocent. Whoso doeth these things shall never fall.
My son, if thou be surety for thy neighbour, thou hast fastened thine hand with another man:
let not thine eyes sleep, nor thine eyelids slumber.
He that is surety for a stranger, hurteth himself; but he that meddleth not with suretyship, is sure.
Whoso promiseth by the hand, and is surety for another; he is a fool.
Take his garment that is surety for a stranger; and take a pledge of him for the unknown man's sake.
Take his garment that is surety for a stranger, and take a pledge of him for the unknown man's sake.
O mother, alas that ever thou didst bear me, an enemy and hated of the whole land: Though I never lent nor received upon usury, yet all men speak evil upon 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 servant that is an Hebrew, sixth years he shall serve, and the seventh he shall go out free paying nothing.
If thou take thy neighbor's raiment to pledge, see that thou deliver it unto him again by that the sun go down. For that is his coverlet only: even the raiment for his skin wherein he sleepeth: or else he will cry unto me and I will hear him, for I am merciful.
"'If thy brother that dwelleth by thee wax poor and sell himself unto thee, thou shalt not let him labour as a bondservant doeth: but as a hired servant and as a sojourner he shall be with thee, and shall serve thee unto the trumpet year, read more. and then shall he depart from thee: both he and his children with him, and shall return unto his own kindred again and unto the possessions of his fathers; for they are my servants which I brought out of the land of Egypt, and shall not be sold as bondmen. See therefore that thou reign not over him cruelly, but fear thy God. "'If thou wilt have bondservants and maidens, thou shalt buy them of the heathen that are round about you, and of the children of the strangers that are sojourners among you, and of their generations that are with you, which they begat in your land. And ye shall possess them and give them unto your children after you, to possess them for ever: and they shall be your bondmen. But over your brethren the children of Israel, ye shall not reign one over another cruelly. "'When a stranger and a sojourner waxeth rich by thee, and thy brother that dwelleth by him waxeth poor and sell himself unto the stranger that dwelleth by thee or to any of the stranger's kin: after that he is sold he may be redeemed again: one of his brethren may buy him out; whether it be his uncle or his uncle's son, or any that is nigh of kin unto him of his kindred: either if his hand can get so much he may be loosed. And he shall reckon with him that bought him, from the year that he was sold in unto the trumpet year, and the price of his buying shall be according unto the number of years, and he shall be with him as a hired servant. If there be yet many years behind, according unto them he shall give again for his deliverance, of the money that he was sold for. If there remain but few years unto the trumpet year, he shall so count with him, and according unto his years give him again for his redemption, and shall be with him year by year as a hired servant, and the other shall not reign cruelly over him in thy sight. If he be not bought free in the meantime, then he shall go out in the trumpet year and his children with him; for the children of Israel are my servants which I brought out of the land of Egypt. I am the LORD your God.
If thy brother, an Hebrew, sell himself to thee, or an Hebrewess, he shall serve thee six years and 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. but shalt give him of thy sheep and of thy corn and of thy wine, and give him of that wherewith the LORD thy God hath blessed thee. And remember that thou wast a servant in the land of Egypt, and the LORD thy God delivered thee thence: wherefore I command thee this thing today. But and if he say unto thee, 'I will not go away from thee,' because he loveth thee and thine house and is well at ease with thee: Then take an awl and nail his ear to the door therewith and let him be thy servant forever, and unto thy maidservant thou shalt do likewise. And let it not grieve thine eyes to let him go out from thee, for he hath been worth a double hired servant to thee in his service six years. And the LORD thy God shall bless thee in all that thou doest.
No man shall take the nether or the upper millstone to pledge, for then he taketh a man's life to pledge.
If thou lend thy brother any manner succour, thou shalt not go into his house to fetch a pledge: but shalt stand without and the man to whom thou lendest, shall bring thee the pledge out at the door. read more. Furthermore, if it be a poor body, go not to sleep with his pledge: but deliver him the pledge again by that the sun go down, and let him sleep in his own raiment and bless thee. And it shall be righteousness unto thee, before the LORD thy God.
Hinder not the right of the stranger nor of the fatherless, nor take widow's raiment to pledge.
And there cried a certain woman of the wives of the children of the prophets unto Elisha, saying, "Thy servant my husband is dead, and thou knowest that thy servant did fear the LORD. And the creditor is come to fetch my two sons, to be his bondmen."
for if thou hast nothing to pay, they shall take away thy bed from under thee.
Thus sayeth the LORD: Where is the bill of your mother's divorcement, that I sent unto her? Or who is the usurer, to whom I sold you? Behold, for your own offenses are ye sold: and because of your transgression, is your mother forsaken.
For thus sayeth the LORD: Ye are sold for naught, therefore shall ye be redeemed also without any money.
I say unto ye verily, Thou shalt not come out thence, till thou have paid the utmost farthing.
And his Lord was wroth, and delivered him to the jailers, till 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 thou buy a servant that is an Hebrew, sixth years he shall serve, and the seventh he shall go out free paying nothing.
If thou lend money to any of my people that is poor by thee, thou shalt not be as an usurer unto him, neither shalt oppress him with usury.
"'If thy brother be waxed poor and fallen in decay with thee, receive him as a stranger or a sojourner, and let him live by thee.
Thou shalt not lend him thy money upon usury, nor lend him of thy food to have advantage by it;
"'If thy brother that dwelleth by thee wax poor and sell himself unto thee, thou shalt not let him labour as a bondservant doeth:
for they are my servants which I brought out of the land of Egypt, and shall not be sold as bondmen.
And beware that there be not a point of Belial in thine heart, that thou wouldest say, 'The seventh year, the year of freedom is at hand,' and therefore it grieve thee to look on thy poor brother and givest him nought and he then cry unto the LORD against thee and it be sin unto thee.
And there arose a great complaint of the people, and of their wives, against their brethren the Jews.
And I shook my lap, and said, "God shake out every man after the same manner from his house and labour, that maintaineth not this word: even thus be he shaken out, and void." And all the congregation said, "Amen," and praised the LORD. And the people did so.
He that hath not given his money upon usury, nor taken reward against the innocent. Whoso doeth these things shall never fall.
My son, if thou be surety for thy neighbour, thou hast fastened thine hand with another man:
let not thine eyes sleep, nor thine eyelids slumber.
He that is surety for a stranger, hurteth himself; but he that meddleth not with suretyship, is sure.
Whoso promiseth by the hand, and is surety for another; he is a fool.
Take his garment that is surety for a stranger; and take a pledge of him for the unknown man's sake.
Be not thou one of them that bind their hand upon promise, and are surety for debt;
O mother, alas that ever thou didst bear me, an enemy and hated of the whole land: Though I never lent nor received upon usury, yet all men speak evil upon me.
he lendeth upon usury, and taketh moreover. Shall this man live? He shall not live. Seeing he hath done all these abominations, he shall die: his blood shall be upon him.