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 lend money to My people, to the poor among you, you are not to act as a creditor to him; you shall not charge him interest.
for that is his only covering; it is his cloak for his body. What else shall he sleep in? And it shall come about that when he cries out to Me, I will hear him, for I am gracious.
"At the end of every seven years you shall grant a remission of debts. "This is the manner of remission: every creditor shall release what he has loaned to his neighbor; he shall not exact it of his neighbor and his brother, because the LORD'S remission has been proclaimed. read more. "From a foreigner you may exact it, but your hand shall release whatever of yours is with your brother. "However, there will be no poor among you, since the LORD will surely bless you in the land which the LORD your God is giving you as an inheritance to possess, if only you listen obediently to the voice of the LORD your God, to observe carefully all this commandment which I am commanding you today. "For the LORD your God will bless you as He has promised you, and you will lend to many nations, but you will not borrow; and you will rule over many nations, but they will not rule over you. "If there is a poor man with you, one of your brothers, in any of your towns in your land which the LORD your God is giving you, you shall not harden your heart, nor close your hand from your poor brother; but you shall freely open your hand to him, and shall generously lend him sufficient for his need in whatever he lacks. "Beware that there is no base thought in your heart, saying, 'The seventh year, the year of remission, is near,' and your eye is hostile toward your poor brother, and you give him nothing; then he may cry to the LORD against you, and it will be a sin in you. "You shall generously give to him, and your heart shall not be grieved when you give to him, because for this thing the LORD your God will bless you in all your work and in all your undertakings. "For the poor will never cease to be in the land; therefore I command you, saying, 'You shall freely open your hand to your brother, to your needy and poor in your land.'
"You shall not charge interest to your countrymen: interest on money, food, or anything that may be loaned at interest. "You may charge interest to a foreigner, but to your countrymen you shall not charge interest, so that the LORD your God may bless you in all that you undertake in the land which you are about to enter to possess.
"No one shall take a handmill or an upper millstone in pledge, for he would be taking a life in pledge.
"When you make your neighbor a loan of any sort, you shall not enter his house to take his pledge. "You shall remain outside, and the man to whom you make the loan shall bring the pledge out to you. read more. "If he is a poor man, you shall not sleep with his pledge. "When the sun goes down you shall surely return the pledge to him, that he may sleep in his cloak and bless you; and it will be righteousness for you before the LORD your God.
"You shall not pervert the justice due an alien or an orphan, nor take a widow's garment in pledge.
"If you lend to those from whom you expect to receive, what credit is that to you? Even sinners lend to sinners in order to receive back the same amount. "But love your enemies, and do good, and lend, expecting nothing in return; and your reward will be great, and you will be sons of the Most High; for He Himself is kind to ungrateful and evil men.