Loan in Biblical History

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Schaff's Bible Dictionary

Definitions in Biblical History
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What is a Loan?
LOAN
The Mosaic law repeatedly enjoined it on the rich to come to the relief of the poor, not only with alms, but Lizard. also with loans. Ex 22:25; Lev 25:35-37; Deut 15:3; Deut 15:7-10; Deut 23:19-20. No interest was to be taken, Ex 22:25; Lev 25:36; Deut 23:19, and a pledge or security only under certain restrictions; the creditor was not allowed to enter the house of the debtor in claim of the pledge, Deut 24:10-11; a widow's raiment could not be taken as a pledge, Deut 24:17, or a millstone, Deut 24:6, nor could a poor man's raiment be kept over-night. It was allowed to hold a debtor in bondage, but only to the jubilee -- that is, for six years at the utmost, Lev 25:39-41, and in the sabbatical year all debts were cancelled and all pledges returned. Deut 15:1-3, Deut 15:7-10. These laws, however, had no reference to foreigners, from whom the Jews took interest and retained forfeited pledges; they also kept them as slaves. Nor were these laws kept strictly for a very long time. Sons were later on seized for their fathers' debts, 2 Kgs 4:1, and interests were exacted, Neh 5:1, 2 Kgs 11:13; and in the time of our Lord the economic principles of the Jews seem to have approached very nearly to those of the rest of the commercial world. Matt 5:42; Matt 25:27; Luke 6:35; Luke 19:13.

Bibliography Information
Schaff, Philip, Dr. "Biblical Definition for 'loan' in Schaffs Bible Dictionary".
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