Borrowing and Lending

Bill Brinkworth

Many in the last three decades or more have developed a life-style of spending more than they can afford. Yes, I know that the economy is geared to people living off their credit, and yes, I know “everyone is doing it.” No, I do not think it is the bank’s fault for lending us money that we cannot afford to pay back. We are responsible for our decision of making a loan. We alone are responsible for our spending and paying back what we borrowed.

In many cases, it may be necessary to borrow money to purchase a “need”. However, there is such a thing as “responsible borrowing and lending”. Here are a few biblical principles that, if heeded, may keep many from the financial failure that could easily happen to them if these principles are ignored:

The Bible does teach that it is acceptable to loan money and things. The good lender should show mercy and kindness to whom he has lent.
“A good man sheweth favour, and lendeth: he will guide his affairs with discretion.” Psalms 112:5
“He that hath pity upon the poor lendeth unto the LORD; and that which he hath given will he pay him again.” Proverbs 19:17
“Give to every man that asketh of thee; and of him that taketh away thy goods ask them not again.” Luke 6:30
“Give to him that asketh thee, and from him that would borrow of thee turn not thou away.” Matthew 5:42 Also: Psalms 112:5, Proverbs 19:17
A godly person has a responsibility to pay back what he has borrowed. It is a wicked person that does not pay back a loan!
“The wicked borroweth, and payeth not again: but the righteous sheweth mercy, and giveth.” Psalms 37:21
When we give our word to pay back money we have borrowed, we have an obligation to pay it back. Breaking our word is lying. We are accountable for the promises we make! It is our testimony, especially if we are Christians, to do what we say.
“These six things doth the LORD hate: yea, seven are an abomination unto him: A proud look, a lying tongue, and hands that shed innocent blood,” Proverbs 6:16-17
Covenant breaking (promise breaking) is listed as a sin in Romans 1:31.
When times are tough, and it does not seem possible to pay the bills, turn to God first, not the banks. He can, if it is truly a need, help you!
“Though he fall, he shall not be utterly cast down: for the LORD upholdeth him with his hand. I have been young, and now am old; yet have I not seen the righteous forsaken, nor his seed begging bread.” Psalms 37:24-25
“Delight thyself also in the LORD; and he shall give thee the desires of thine heart.” Psalms 37:4
When a person does not pay back what he borrows, he is keeping what does not belong to him
When you do borrow, you can lose some freedom.
“The rich ruleth over the poor, and the borrower is servant to the lender.” Proverbs 22:7
When you do borrow, do not get in a situation where your freedom is collateral for a debt.
“Be not thou one of them that strike hands, or of them that are sureties for debts.” Proverbs 22:26 (“Surety” can be one that is legally bound to pay off a debt. In some cases, if the debt is not paid, a person may be bound to pay off the debt by his being in slavery.)
Some debt may be accumulated because of one’s coveting. Coveting is a sin (Exodus 20:17). It is wicked in God’s eyes because one may not be happy with what God has allowed him to have. A person may lust for what another has. That coveting may lead him to spend what he should not have spent. He may end up with payments that are more than he can afford. The financial hardship may be the consequences of his sin. It may be a reaping of what was sown.
If we borrow something, and it is damaged or dies in our possession; it is the borrower’s responsibility to restore to the lender what was lent. The borrower needs to fix what was damaged.
“And if a man borrow ought of his neighbour, and it be hurt, or die, the owner thereof being not with it, he shall surely make it good.” Exodus 22:14
If you are responsible for making a person poor, do not charge him interest!
“If thou lend money to any of my people that is poor by thee, thou shalt not be to him as an usurer, neither shalt thou lay upon him usury.” Exodus 22:25
If you are trying to help a person who is having financial difficulties, do not make a profit on his hardship.
“And if thy brother be waxen poor, and fallen in decay with thee; then thou shalt relieve him: yea, though he be a stranger, or a sojourner; that he may live with thee. Take thou no usury of him, or increase: but fear thy God; that thy brother may live with thee. Thou shalt not give him thy money upon usury, nor lend him thy victuals for increase.” Leviticus 25:35-37

Having a “little” may not be such a bad thing!
“A little that a righteous man hath is better than the riches of many wicked.” Psalms 37:16
“Better is little with the fear of the LORD than great treasure and trouble therewith.” Pro. 15:16 “But godliness with contentment is great gain.” I Timothy 6:6

This study was featured in The Bible View #243.