The following is the results of your search for LOAN.
Loan: 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
(Exodus 22:25)
(Deuteronomy 23:19,20; Leviticus 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
(Psalms 15:5; Proverbs 6:1,4; 11:15; 17:18; 20:16)
(Psalms 27:13; Jeremiah 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
(Exodus 22:26,27; Deuteronomy 24:12,13) A widow's garment
(Deuteronomy 24:17) and a
millstone
(Deuteronomy 24:6) could not be taken. A creditor could not enter
the house to reclaim a pledge, but must remain outside till the
borrower brought it
(Deuteronomy 24:10,11) The Hebrew debtor could not be
retained in bondage longer than the seventh year, or at farthest the
year of jubilee
(Exodus 21:2; Leviticus 25:39,42) but foreign sojourners were
to be "bondmen for ever"
(Leviticus 25:44-54)
