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 shalt buy a Hebrew servant, six years he shall serve: and in the seventh he shall depart free for nothing.
If thou shalt lend money to any of my people that is poor by thee, thou shalt not be to him as a usurer, neither shalt thou lay upon him usury. If thou shalt at all take thy neighbor's raiment to pledge, thou shalt deliver it to him by the setting of the sun. read more. For that is his only covering, it is his raiment for his skin: wherein shall he sleep? and it shall come to pass, when he crieth to me, that I will hear; for I am gracious.
And if thy brother shall have become poor, and fallen in decay with thee; then thou shalt relieve him: yea, though he may be a stranger, or a sojourner; that he may live with thee. Take thou no interest of him, or increase; but fear thy God; that thy brother may live with thee. read more. Thou shalt not give him thy money upon interest, nor lend him thy victuals for increase. I am the LORD your God, who brought you out of the land of Egypt, to give you the land of Canaan, and to be your God. And if thy brother that dwelleth by thee shall have become poor, and be sold to thee; thou shalt not compel him to serve as a bond servant:
For they are my servants, which I brought out of the land of Egypt; they shall not be sold as bond-men.
Both thy bond-men, and thy bond-maids, which thou shalt have, shall be of the heathen that are around you; of them shall ye buy bond-men and bond-maids. Moreover of the children of the strangers that sojourn among you, of them shall ye buy, and of their families that are with you, which they begat in your land: and they shall be your possession. read more. And ye shall take them as an inheritance for your children after you, to inherit them for a possession, they shall be your bond-men for ever: but over your brethren the children of Israel, ye shall not rule one over another with rigor. And if a sojourner or a stranger shall become rich by thee, and thy brother that dwelleth by him shall become poor, and sell himself to the stranger or sojourner by thee, or to the stock of the stranger's family: After that 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 nigh of kin to 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, to 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 shall it be with him. If there shall be yet many years behind, according to them he shall give again the price of his redemption out of the money that he was bought for. And if there shall remain but few years to the year of jubilee, then he shall count with him, and according to 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 rigor over him in thy sight. And if he shall not be redeemed in these years, then he shall go out in the year of jubilee, both he, and his children with him.
Thou shalt not lend upon interest to thy brother; interest of money, interest of victuals, interest of any thing that is lent upon interest: To a stranger thou mayest lend upon interest; but to thy brother thou shalt not lend upon interest; that the LORD thy God may bless thee in all that thou settest thy hand to in the land whither thou goest to possess it.
When thou dost lend thy brother any thing, thou shalt not go into his house to take his pledge: Thou shalt stand abroad, and the man to whom thou dost lend shall bring out the pledge abroad to thee: read more. And if the man is poor, thou shalt not sleep with his pledge: In any case thou shalt deliver to him the pledge again when the sun goeth down, that he may sleep in his own raiment, and bless thee; and it shall be righteousness to thee before the LORD thy God.
Thou shalt not pervert the judgment of the stranger, nor of the fatherless, nor take a widow's raiment for a pledge:
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 art surety for thy friend, if thou hast stricken thy hand with a stranger,
He that is surety for a stranger shall smart for it: and he that hateth suretiship is sure.
A man void of understanding striketh hands, and becometh surety in the presence of his friend.
Take his garment that is surety for a stranger: and take a pledge of him for a strange woman.
Take his garment that is surety for a stranger, and take a pledge of him 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 earth! I have neither lent on usury, nor have men 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 shalt buy a Hebrew servant, six years he shall serve: and in the seventh he shall depart free for nothing.
If thou shalt at all take thy neighbor's raiment to pledge, thou shalt deliver it to him by the setting of the sun. For that is his only covering, it is his raiment for his skin: wherein shall he sleep? and it shall come to pass, when he crieth to me, that I will hear; for I am gracious.
And if thy brother that dwelleth by thee shall have become poor, and be sold to thee; thou shalt not compel him to serve as a bond servant: But as a hired servant, and as a sojourner he shall be with thee, and shall serve thee to the year of jubilee. read more. And then shall he depart from thee, both he and his children with him, and shall return to his own family, and to the possession of his fathers shall he return. For they are my servants, which I brought out of the land of Egypt; they shall not be sold as bond-men. Thou shalt not rule over him with rigor, but shalt fear thy God. Both thy bond-men, and thy bond-maids, which thou shalt have, shall be of the heathen that are around you; of them shall ye buy bond-men and bond-maids. Moreover of the children of the strangers that sojourn among you, of them shall ye buy, and of their families that are with you, which they begat in your land: and they shall be your possession. And ye shall take them as an inheritance for your children after you, to inherit them for a possession, they shall be your bond-men for ever: but over your brethren the children of Israel, ye shall not rule one over another with rigor. And if a sojourner or a stranger shall become rich by thee, and thy brother that dwelleth by him shall become poor, and sell himself to the stranger or sojourner by thee, or to the stock of the stranger's family: After that 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 nigh of kin to 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, to 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 shall it be with him. If there shall be yet many years behind, according to them he shall give again the price of his redemption out of the money that he was bought for. And if there shall remain but few years to the year of jubilee, then he shall count with him, and according to 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 rigor over him in thy sight. And if he shall not be redeemed in these years, then he shall go out in the year of jubilee, both he, and his children with him. For to me the children of Israel are servants, they are my servants whom I brought out of the land of Egypt: I am the LORD your God.
And if thy brother, a Hebrew man, or a Hebrew woman, shall be sold to thee, and serve thee six years; then 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 depart empty: read more. Thou shalt furnish him liberally out of thy flock, and out of thy floor, and out of thy wine-press: of that with which the LORD thy God hath blessed thee thou shalt give to him. And thou shalt remember that thou wast a bond-man in the land of Egypt, and the LORD thy God redeemed thee: therefore I command thee this thing this day. And it shall be, if he shall say to thee, I will not leave 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 into the door, and he shall be thy servant for ever. And also to thy maid-servant thou shalt do likewise. It shall not seem hard to thee, when thou sendest him away free from thee; for he hath been of double the worth of a hired servant to thee, in serving thee 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 for a pledge: for he taketh a man's life for a pledge.
When thou dost lend thy brother any thing, thou shalt not go into his house to take his pledge: Thou shalt stand abroad, and the man to whom thou dost lend shall bring out the pledge abroad to thee: read more. And if the man is poor, thou shalt not sleep with his pledge: In any case thou shalt deliver to him the pledge again when the sun goeth down, that he may sleep in his own raiment, and bless thee; and it shall be righteousness to thee before the LORD thy God.
Thou shalt not pervert the judgment of the stranger, nor of the fatherless, nor take a widow's raiment for a pledge:
Now there cried a certain woman of the wives of the sons of the prophets to Elisha, saying, Thy servant my husband is dead; and thou knowest that thy servant feared the LORD: and the creditor hath come to take to him my two sons to be bond-men.
Thus saith 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 ye sold yourselves, and for your transgressions is your mother put away.
For thus saith the LORD, Ye have sold yourselves for naught; and ye shall be redeemed without money.
Verily, I say to thee, thou shalt by no means come out thence, till thou hast paid the uttermost farthing.
And his lord was wroth, and delivered him to the tormentors, 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 shalt buy a Hebrew servant, six years he shall serve: and in the seventh he shall depart free for nothing.
If thou shalt lend money to any of my people that is poor by thee, thou shalt not be to him as a usurer, neither shalt thou lay upon him usury.
And if thy brother shall have become poor, and fallen in decay with thee; then thou shalt relieve him: yea, though he may be a stranger, or a sojourner; that he may live with thee.
Thou shalt not give him thy money upon interest, nor lend him thy victuals for increase.
And if thy brother that dwelleth by thee shall have become poor, and be sold to thee; thou shalt not compel him to serve as a bond servant:
For they are my servants, which I brought out of the land of Egypt; they shall not be sold as bond-men.
Beware that there be not a thought in thy wicked heart, saying, The seventh year, the year of release, is at hand; and thy eye shall be evil against thy poor brother, and thou shalt give him naught; and he shall cry to the LORD against thee, and it shall be sin to 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 labor, that performeth 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 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 art surety for thy friend, if thou hast stricken thy hand with a stranger,
He that is surety for a stranger shall smart for it: and he that hateth suretiship is sure.
A man void of understanding striketh hands, and becometh surety in the presence of his friend.
Take his garment that is surety for a stranger: and take a pledge of him for a strange woman.
Be not thou one of them that strike hands, or of them that are sureties for debts.
Woe is me, my mother, that thou hast borne me a man of strife and a man of contention to the whole earth! I have neither lent on usury, nor have men lent to me on usury; yet every one of them doth curse me.