Reference: LOANS
American
Jehovah, as the sole proprietor of the land occupied by the Jews, required them, as one condition of its use, to grant liberal loans to their poor brethren; and every seven years, the outstanding loans were to become gifts, and could not be reclaimed. If a pledge was taken on making a loan, it must be done with mercy and under certain benevolent restrictions, Ex 22:25,27; De 15:1-11; 23:19-20; 24:6,10-13,17. The great truth so prominent in this and similar features of the Mosaic laws, ought to be restored to its fundamental place in our theories of property; and no one who believes in God should act as the owner, but only as the steward of what he possesses, all of which he is to use as required by its great Owner. In the same spirit, our Savior enjoins the duty of loaning freely, even to enemies, and without hope of reward, Lu 6:34-35.
See Verses Found in Dictionary
"If you loan money to my people, to the poor among you, don't be like a creditor to them and don't impose interest on them.
for it's his only covering; it's his outer garment, for what else can he sleep in? And when he cries out to me, I'll hear him, for I am gracious.
"You must cancel your debts at the end of every seventh year. This is the way to conduct remission: every creditor must cancel the loan that his friend borrowed, and he must not pressure his friend or brother to repay it, because remission to the LORD will be proclaimed. read more. You may exact payment from a foreigner, but cancel whatever your brother owes you. Moreover, there will be no poor person among you, for the LORD will surely bless you in the land that he is about to give you to possess. Only be certain to obey the voice of the LORD your God. Carefully observe all of these commands that I'm commanding to you today. For the LORD your God will bless you just as he promised. You are to lend to many nations but not borrow. Also, you will rule over many nations, but they will not rule over you." "If there should be a poor man among your relatives in one of the cities of the land that the LORD your God is about to give you, don't be hard-hearted or tight-fisted toward your poor relative. Instead, be sure to open your hand to him and lend him enough to lessen his need. Be careful not to think this wicked thought to yourselves: "The seventh year, the year of remission, is drawing near,' and you show ill will toward your poor relative and not give to him. He may then call to the LORD on account of you, and you will be guilty of sin. You must certainly give to him and not feel regret for doing so. Because of this, the LORD your God will bless all your works and everything you do. Since poor people won't cease to exist in the land, therefore I'm commanding you: Be sure to be generous to your poor and needy relatives in your land."
"Don't charge interest to your relatives, whether for money, food, or for anything that has been loaned at interest. You may charge interest to a foreigner, but don't charge interest to your relatives, so the LORD your God may bless you in everything you undertake in the land that you are about to enter and possess.
"Don't take a pair of millstones, especially the upper millstone, as collateral for a loan, because this means taking a man's livelihood.
"When you loan something to your neighbor, don't enter his house to seize what he offered as collateral. Stay outside and let the man to whom you made the loan bring it out to you. read more. If he is a poor man, don't go to sleep with his collateral in your possession. Be sure to return his garment to him at sunset so that he may sleep with it, and he will bless you. It will be a righteous deed in the presence of the LORD your God.
"Don't deny justice to a foreigner or to an orphan, nor take a widow's garment as collateral for a loan.
If you lend to those from whom you expect to get something back, what thanks do you deserve? Even sinners lend to sinners to get back what they lend. Rather, love your enemies, do good to them, and lend to them, expecting nothing in return. Then your reward will be great, and you will be children of the Most High, because he is kind even to ungrateful and evil people.