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 you buy a Hebrew slave, he is to serve for six years; then in the seventh he is to leave as a free man without paying anything.
"If you lend money to My people-to the poor person among you, you must not be like a moneylender to him; you must not charge him interest. "If you ever take your neighbor's cloak as collateral, return it to him before sunset. read more. For it is his only covering; it is the clothing for his body. What will he sleep in? And if he cries out to Me, I will listen because I am compassionate.
"If your brother becomes destitute and cannot sustain himself among you, you are to support him as a foreigner or temporary resident, so that he can continue to live among you. Do not profit or take interest from him, but fear your God and let your brother live among you. read more. You are not to lend him your silver with interest or sell [him] your food for profit. 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. "If your brother among you becomes destitute and sells himself to you, you must not force him to do slave labor.
They are not to be sold as slaves, because they are My slaves I brought out of the land of Egypt.
Your male and female slaves are to be from the nations around you; you may purchase male and female slaves. You may also purchase them from the foreigners staying with you, or from their families living among you-those born in your land. These may become your property. read more. You may leave them to your sons after you to inherit as property; you can make them slaves for life. But concerning your brothers, the Israelites, you must not rule over one another harshly. "If a foreigner or temporary resident [living] among you prospers, but your brother [living] near him becomes destitute and sells himself to the foreigner living among you, or to a member of the foreigner's clan, he has the right of redemption after he has been sold. One of his brothers may redeem him. His uncle or cousin may redeem him, or any of his close relatives from his clan may redeem him. If he prospers, he may redeem himself. The one who purchased him is to calculate [the time] from the year he sold himself to him until the Year of Jubilee. The price of his sale will be [determined] by the number of years. It will be [set] for him like the daily wages of a hired hand. If many years are still left, he must pay his redemption price in proportion to them based on his purchase price. If only a few years remain until the Year of Jubilee, he will calculate and pay the price of his redemption in proportion to his [remaining] years. He will stay with him like a man hired year by year. A foreign owner is not to rule over him harshly in your sight. If he is not redeemed in any of these [ways], he and his children are to be released at the Year of Jubilee.
"Do not charge your brother interest on money, food, or anything that can earn interest You may charge a foreigner interest, but you must not charge your brother interest, so that the Lord your God may bless you in everything you do in the land you are entering to possess.
"When you make a loan of any kind to your neighbor, do not enter his house to collect what he offers as security. You must stand outside while the man you are making the loan to brings the security out to you. read more. If he is a poor man, you must not sleep in [the garment] he has given as security. Be sure to return it to him at sunset. Then he will sleep in it and bless you, and this will be counted as righteousness to you before the Lord your God.
Do not deny justice to a foreign resident [or] fatherless child, and do not take a widow's garment as security.
who does not lend his money at interest or take a bribe against the innocent- the one who does these things will never be moved.
My son, if you have put up security for your neighbor or entered into an agreement with a stranger,
If someone puts up security for a stranger, he will suffer for it, but the one who hates such agreements is protected.
One without sense enters an agreement and puts up security for his friend.
Take his garment, for he has put up security for a stranger; get collateral if it is for foreigners.
Take his garment, for he has put up security for a stranger; get collateral if it is for foreigners.
Woe is me, my mother, that you gave birth to me, a man who incites dispute and conflict in all the land. I did not lend or borrow, yet everyone curses 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 you buy a Hebrew slave, he is to serve for six years; then in the seventh he is to leave as a free man without paying anything.
"If you ever take your neighbor's cloak as collateral, return it to him before sunset. For it is his only covering; it is the clothing for his body. What will he sleep in? And if he cries out to Me, I will listen because I am compassionate.
"If your brother among you becomes destitute and sells himself to you, you must not force him to do slave labor. Let him stay with you as a hired hand or temporary resident; he may work for you until the Year of Jubilee. read more. Then he and his children are to be released from you, and he may return to his clan and his ancestral property. They are not to be sold as slaves, because they are My slaves I brought out of the land of Egypt. You are not to rule over them harshly but fear your God. Your male and female slaves are to be from the nations around you; you may purchase male and female slaves. You may also purchase them from the foreigners staying with you, or from their families living among you-those born in your land. These may become your property. You may leave them to your sons after you to inherit as property; you can make them slaves for life. But concerning your brothers, the Israelites, you must not rule over one another harshly. "If a foreigner or temporary resident [living] among you prospers, but your brother [living] near him becomes destitute and sells himself to the foreigner living among you, or to a member of the foreigner's clan, he has the right of redemption after he has been sold. One of his brothers may redeem him. His uncle or cousin may redeem him, or any of his close relatives from his clan may redeem him. If he prospers, he may redeem himself. The one who purchased him is to calculate [the time] from the year he sold himself to him until the Year of Jubilee. The price of his sale will be [determined] by the number of years. It will be [set] for him like the daily wages of a hired hand. If many years are still left, he must pay his redemption price in proportion to them based on his purchase price. If only a few years remain until the Year of Jubilee, he will calculate and pay the price of his redemption in proportion to his [remaining] years. He will stay with him like a man hired year by year. A foreign owner is not to rule over him harshly in your sight. If he is not redeemed in any of these [ways], he and his children are to be released at the Year of Jubilee. For the Israelites are My slaves. They are My slaves I brought out of the land of Egypt; I am the Lord your God.
"If your fellow Hebrew, a man or woman, is sold to you and serves you six years, you must set him free in the seventh year. When you set him free, do not send him away empty-handed. read more. Give generously to him from your flock, your threshing floor, and your winepress. You are to give him whatever the Lord your God has blessed you with. Remember that you were a slave in the land of Egypt and the Lord your God redeemed you; that is why I am giving you this command today. But if your slave says to you, 'I don't want to leave you,' because he loves you and your family, and is well off with you, take an awl and pierce through his ear into the door, and he will become your slave for life. Also treat your female slave the same way. Do not regard it as a hardship when you set him free, because he worked for you six years-worth twice the wages of a hired hand. Then the Lord your God will bless you in everything you do.
"Do not take a pair of millstones or an upper millstone as security for a debt, because that is like taking a life as security.
"When you make a loan of any kind to your neighbor, do not enter his house to collect what he offers as security. You must stand outside while the man you are making the loan to brings the security out to you. read more. If he is a poor man, you must not sleep in [the garment] he has given as security. Be sure to return it to him at sunset. Then he will sleep in it and bless you, and this will be counted as righteousness to you before the Lord your God.
Do not deny justice to a foreign resident [or] fatherless child, and do not take a widow's garment as security.
One of the wives of the sons of the prophets cried out to Elisha, "Your servant, my husband, has died. You know that your servant feared the Lord. Now the creditor is coming to take my two children as his slaves."
This is what the Lord says: Where is your mother's divorce certificate that I used to send her away? Or who were My creditors that I sold you to? Look, you were sold for your iniquities, and your mother was put away because of your transgressions.
For this is what the Lord says: "You were sold for nothing, and you will be redeemed without silver."
I assure you: You will never get out of there until you have paid the last penny! / 64 of a daily wage
And his master got angry and handed him over to the jailers until he could pay everything that was owed.
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 you buy a Hebrew slave, he is to serve for six years; then in the seventh he is to leave as a free man without paying anything.
"If you lend money to My people-to the poor person among you, you must not be like a moneylender to him; you must not charge him interest.
"If your brother becomes destitute and cannot sustain himself among you, you are to support him as a foreigner or temporary resident, so that he can continue to live among you.
You are not to lend him your silver with interest or sell [him] your food for profit.
"If your brother among you becomes destitute and sells himself to you, you must not force him to do slave labor.
They are not to be sold as slaves, because they are My slaves I brought out of the land of Egypt.
Be careful that there isn't this wicked thought in your heart, 'The seventh year, the year of canceling debts, is near,' and you are stingy toward your poor brother and give him [nothing]. He will cry out to the Lord against you, and you will be guilty.
There was a widespread outcry from the people and their wives against their Jewish countrymen.
I also shook the folds of my robe and said, "May God likewise shake from his house and property everyone who doesn't keep this promise. May he be shaken out and have nothing!" The whole assembly said, "Amen," and they praised the Lord. Then the people did as they had promised.
who does not lend his money at interest or take a bribe against the innocent- the one who does these things will never be moved.
My son, if you have put up security for your neighbor or entered into an agreement with a stranger,
If someone puts up security for a stranger, he will suffer for it, but the one who hates such agreements is protected.
One without sense enters an agreement and puts up security for his friend.
Take his garment, for he has put up security for a stranger; get collateral if it is for foreigners.
Woe is me, my mother, that you gave birth to me, a man who incites dispute and conflict in all the land. I did not lend or borrow, yet everyone curses me.