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
When thou buyest a Hebrew servant -- six years he doth serve, and in the seventh he goeth out as a freeman for nought;
'If thou dost lend My poor people with thee money, thou art not to him as a usurer; thou dost not lay on him usury; if thou dost at all take in pledge the garment of thy neighbour, during the going in of the sun thou dost return it to him: read more. for it alone is his covering, it is his garment for his skin; wherein doth he lie down? and it hath come to pass, when he doth cry unto Me, that I have heard, for I am gracious.
'And when thy brother is become poor, and his hand hath failed with thee, then thou hast kept hold on him, sojourner and settler, and he hath lived with thee; thou takest no usury from him, or increase; and thou hast been afraid of thy God; and thy brother hath lived with thee; read more. thy money thou givest not to him in usury, and for increase thou givest not thy food; I am Jehovah your God, who hath brought you out of the land of Egypt, to give to you the land of Canaan, to become your God. 'And when thy brother becometh poor with thee, and he hath been sold to thee, thou dost not lay on him servile service;
For they are My servants, whom I have brought out from the land of Egypt: they are not sold with the sale of a servant;
And thy man-servant and thy handmaid whom thou hast are of the nations who are round about you; of them ye buy man-servant and handmaid, and also of the sons of the settlers who are sojourning with you, of them ye buy, and of their families who are with you, which they have begotten in your land, and they have been to you for a possession; read more. and ye have taken them for inheritance to your sons after you, to occupy for a possession; to the age ye lay service upon them, but upon your brethren, the sons of Israel, one with another, thou dost not rule over him with rigour. And when the hand of a sojourner or settler with thee attaineth riches, and thy brother with him hath become poor, and he hath been sold to a sojourner, a settler with thee, or to the root of the family of a sojourner, after he hath been sold, there is a right of redemption to him; one of his brethren doth redeem him, or his uncle, or a son of his uncle, doth redeem him, or any of the relations of his flesh, of his family, doth redeem him, or -- his own hand hath attained -- then he hath been redeemed. 'And he hath reckoned with his buyer from the year of his being sold to him till the year of jubilee, and the money of his sale hath been by the number of years; as the days of an hireling it is with him. If yet many years, according to them he giveth back his redemption money, from the money of his purchase. And if few are left of the years till the year of jubilee, then he hath reckoned with him, according to his years he doth give back his redemption money; as an hireling, year by year, he is with him, and he doth not rule him with rigour before thine eyes. And if he is not redeemed in these years, then he hath gone out in the year of jubilee, he and his sons with him.
'Thou dost not lend in usury to thy brother; usury of money, usury of food, usury of anything which is lent on usury. To a stranger thou mayest lend in usury, and to thy brother thou dost not lend in usury, so that Jehovah thy God doth bless thee in every putting forth of thy hand on the land whither thou goest in to possess it.
'When thou liftest up on thy brother a debt of anything, thou dost not go in unto his house to obtain his pledge; at the outside thou dost stand, and the man on whom thou art lifting it up is bringing out unto thee the pledge at the outside. read more. 'And if he is a poor man, thou dost not lie down with his pledge; thou dost certainly give back to him the pledge at the going in of the sun, and he hath lain down in his own raiment, and hath blessed thee; and to thee it is righteousness before Jehovah thy God.
'Thou dost not turn aside the judgment of a fatherless sojourner, nor take in pledge the garment of a widow;
His silver he hath not given in usury, And a bribe against the innocent Hath not taken; Whoso is doing these is not moved to the age!
My son! if thou hast been surety for thy friend, Hast stricken for a stranger thy hand,
Give not sleep to thine eyes, And slumber to thine eyelids,
Evil one suffereth when he hath been surety for a stranger, And whoso is hating suretyship is confident.
A man lacking heart is striking hands, A surety he becometh before his friend.
Take his garment when a stranger hath been surety, And for strangers pledge it.
Take his garment, when a stranger hath been surety, And for a strange woman pledge it.
Woe to me, my mother, For thou hast borne me a man of strife, And a man of contention to all the land, I have not lent on usury, Nor have they lent on usury to me -- All of them are reviling 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
When thou buyest a Hebrew servant -- six years he doth serve, and in the seventh he goeth out as a freeman for nought;
if thou dost at all take in pledge the garment of thy neighbour, during the going in of the sun thou dost return it to him: for it alone is his covering, it is his garment for his skin; wherein doth he lie down? and it hath come to pass, when he doth cry unto Me, that I have heard, for I am gracious.
'And when thy brother becometh poor with thee, and he hath been sold to thee, thou dost not lay on him servile service; as an hireling, as a settler, he is with thee, till the year of the jubilee he doth serve with thee, -- read more. then he hath gone out from thee, he and his sons with him, and hath turned back unto his family; even unto the possession of his fathers he doth turn back. For they are My servants, whom I have brought out from the land of Egypt: they are not sold with the sale of a servant; thou rulest not over him with rigour, and thou hast been afraid of thy God. And thy man-servant and thy handmaid whom thou hast are of the nations who are round about you; of them ye buy man-servant and handmaid, and also of the sons of the settlers who are sojourning with you, of them ye buy, and of their families who are with you, which they have begotten in your land, and they have been to you for a possession; and ye have taken them for inheritance to your sons after you, to occupy for a possession; to the age ye lay service upon them, but upon your brethren, the sons of Israel, one with another, thou dost not rule over him with rigour. And when the hand of a sojourner or settler with thee attaineth riches, and thy brother with him hath become poor, and he hath been sold to a sojourner, a settler with thee, or to the root of the family of a sojourner, after he hath been sold, there is a right of redemption to him; one of his brethren doth redeem him, or his uncle, or a son of his uncle, doth redeem him, or any of the relations of his flesh, of his family, doth redeem him, or -- his own hand hath attained -- then he hath been redeemed. 'And he hath reckoned with his buyer from the year of his being sold to him till the year of jubilee, and the money of his sale hath been by the number of years; as the days of an hireling it is with him. If yet many years, according to them he giveth back his redemption money, from the money of his purchase. And if few are left of the years till the year of jubilee, then he hath reckoned with him, according to his years he doth give back his redemption money; as an hireling, year by year, he is with him, and he doth not rule him with rigour before thine eyes. And if he is not redeemed in these years, then he hath gone out in the year of jubilee, he and his sons with him. For to Me are the sons of Israel servants; My servants they are, whom I have brought out of the land of Egypt; I, Jehovah, am your God.
When thy brother is sold to thee, a Hebrew or a Hebrewess, and he hath served thee six years -- then in the seventh year thou dost send him away free from thee. And when thou dost send him away free from thee, thou dost not send him away empty; read more. thou dost certainly encircle him out of thy flock, and out of thy threshing-floor, and out of thy wine-vat; of that which Jehovah thy God hath blessed thee thou dost give to him, and thou hast remembered that a servant thou hast been in the land of Egypt, and Jehovah thy God doth ransom thee; therefore I am commanding thee this thing to-day. And it hath been, when he saith unto thee, I go not out from thee -- because he hath loved thee, and thy house, because it is good for him with thee -- then thou hast taken the awl, and hast put it through his ear, and through the door, and he hath been to thee a servant age-during; and also to thy handmaid thou dost do so. 'It is not hard in thine eyes, in thy sending him away free from thee; for the double of the hire of an hireling he hath served thee six years, and Jehovah thy God hath blessed thee in all that thou dost.
None doth take in pledge millstones, and rider, for life it is he is taking in pledge.
'When thou liftest up on thy brother a debt of anything, thou dost not go in unto his house to obtain his pledge; at the outside thou dost stand, and the man on whom thou art lifting it up is bringing out unto thee the pledge at the outside. read more. 'And if he is a poor man, thou dost not lie down with his pledge; thou dost certainly give back to him the pledge at the going in of the sun, and he hath lain down in his own raiment, and hath blessed thee; and to thee it is righteousness before Jehovah thy God.
'Thou dost not turn aside the judgment of a fatherless sojourner, nor take in pledge the garment of a widow;
And a certain woman of the wives of the sons of the prophets hath cried unto Elisha, saying, 'Thy servant, my husband, is dead, and thou hast known that thy servant was fearing Jehovah, and the lender hath come to take my two children to him for servants.'
If thou hast nothing to pay, Why doth he take thy bed from under thee?
Thus said Jehovah: 'Where is this -- the bill of your mother's divorce, Whom I sent away? Or to which of My creditors have I sold you? Lo, for your iniquities ye have been sold, And for your transgressions Hath your mother been sent away.
For thus said Jehovah: 'For nought ye have been sold, And not by money are ye redeemed.'
verily I say to thee, thou mayest not come forth thence till that thou mayest pay the last farthing.
'And having been wroth, his lord delivered him to the inquisitors, till he might pay all that was owing 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
When thou buyest a Hebrew servant -- six years he doth serve, and in the seventh he goeth out as a freeman for nought;
'If thou dost lend My poor people with thee money, thou art not to him as a usurer; thou dost not lay on him usury;
'And when thy brother is become poor, and his hand hath failed with thee, then thou hast kept hold on him, sojourner and settler, and he hath lived with thee;
thy money thou givest not to him in usury, and for increase thou givest not thy food;
'And when thy brother becometh poor with thee, and he hath been sold to thee, thou dost not lay on him servile service;
For they are My servants, whom I have brought out from the land of Egypt: they are not sold with the sale of a servant;
Take heed to thee lest there be a word in thy heart -- worthless, saying, Near is the seventh year, the year of release; and thine eye is evil against thy needy brother, and thou dost not give to him, and he hath called concerning thee unto Jehovah, and it hath been in thee sin;
And there is a great cry of the people and their wives, concerning their brethren the Jews,
also, my lap I have shaken, and I say, 'Thus doth God shake out every man, who doth not perform this thing, from his house, and from his labour; yea, thus is he shaken out and empty;' and all the assembly say, 'Amen,' and praise Jehovah; and the people do according to this thing.
His silver he hath not given in usury, And a bribe against the innocent Hath not taken; Whoso is doing these is not moved to the age!
My son! if thou hast been surety for thy friend, Hast stricken for a stranger thy hand,
Give not sleep to thine eyes, And slumber to thine eyelids,
Evil one suffereth when he hath been surety for a stranger, And whoso is hating suretyship is confident.
A man lacking heart is striking hands, A surety he becometh before his friend.
Take his garment when a stranger hath been surety, And for strangers pledge it.
Be not thou among those striking hands, Among sureties for burdens.
Woe to me, my mother, For thou hast borne me a man of strife, And a man of contention to all the land, I have not lent on usury, Nor have they lent on usury to me -- All of them are reviling me.
In usury he hath given, and increase taken, And he liveth: he doth not live, All these abominations he hath done, He doth surely die, his blood is on him.