It's a Mitzva to lend money to a fellow Jew.
Included in the Mitzva is providing moral support and giving sage advice.
Even lending money to wealthy people - if they are short of cash - is a Mitzva.
One should not lend money without witnesses, unless the borrower provides collateral. Even better is to have the lender sign an IOU - a promissory note.
One may not demand collateral after the loan has been given to the borrower, except in a Bet Din (Jewish Court). One may not use the collateral, as that would be a form of interest. One may rent out the collateral and deduct the rental from the loan, under certain circumstances.
Source: Kitzur Shulchan Aruch 179:1-3, 7-8.
- Danny
Sunday, 25 Iyar 5773 - 40th day of the Omer
Please daven for the complete recovery of a little boy diagnosed with lymphoma:
יוֹנָתָן-שִׂמְחָה בֶּן לֵאָה-רִבְקָה
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