Meaning of LOANS

An advance of funds or something else. At first, the Israelites who requested a loan did not ask for money but for basic necessities.

The Law ordered to help the needy (Deut. 15:7-11) without requiring any interest (Ex. 22:25; Lev. 25:35-37). Yes, interest could be demanded from foreigners (Deut. 23:20).

The poor Israelite could sell himself as a servant (Lev. 25:39-40; 2 Kings 4:1). In case the creditor demanded a pledge, he could not go to the house of his debtor, but he had to wait for her to bring it to him (Deut. 24: 10-13).

If the item was a dress, the creditor had to return it before the sun set, because this dress served as a covering (Ex. 22:26, 27).

It was forbidden to take the two millstones of a mill, or the stone underneath, as pledge, which would prevent the poor man from grinding the grain necessary for his daily food (Deut. 24:6).

Nor could the widow's clothing be taken as pledge (Deut. 24:17). Loans were to be forgiven every seventh year (Deut. 15:1-11).

Unfortunately, the practice of taking garments became widespread (Prov. 6:1); In later times, lenders sometimes even asked for interest, despite the opposition of the prophets (Jer. 15:10; Ezek. 18:13).

After the exile, this aspect of the Law was widely neglected, like so many others, and Nehemiah vigorously repressed the abuses, in this and other aspects (Neh. 5:1-13; cf. Neh. 13).

Roman legislation was very harsh for the debtor, in contrast to the regulations of the Law of Moses. The Law of the Twelve Tables allowed the creditor to imprison the insolvent debtor and his family.

It is to this fact that the Lord Jesus alludes in the parable of the implacable servant (Mt. 18:25, 34). In Jesus' time the money trade was organized in the form of banks (Mt. 25:27; Lk. 19:23).

In Jerusalem there was a public building in which documents relating to loans, whether interest-bearing or not, were deposited (Wars 2:17, 6)