Halocho #580 - Lending is a Mitzva

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
Tuesday, 19 Sivan 5770

Halocho #579 - Be nice to me; I lent you money

In most cases, a person who received interest from a loan needs to return it.

Even if the borrower - on his own accord - returns more than he borrowed or adds a gift, it is considered interest on the loan and the lender is not allowed to accept it.

Even non-monetary gain from a debtor is forbidden. For example:

- The creditor may not ask the debtor to inform him when somebody has arrived, unless he used to do this before giving him the loan.

- The debtor may not go out of his way to greet the creditor, unless he always used to do so.

- The debtor may not patronize the creditor's business, unless he used to do so before getting the loan.

Source: Kitzur Shulchan Aruch 65: 5, 9, 10

- Danny
Monday, 18 Sivan 5770

Halocho #576 - 0% interest on loans

The Torah prohibits charging interest and paying interest to fellow Jews.
The Torah allows charging interest and paying interest to non-Jews.

A person who lends money to a Jew and charges interest, has transgressed six Torah commandments and - if he doesn't repent - will not awaken at Techiyat Hameitim - when the dead will be revived at the End of Days.

The person who borrows the money transgresses three Torah commandments.

The scribe, witnesses, co-signer and middle-man all transgress one Torah commandment.

Source: Kitzur Shulchan Aruch 65:1, 2, 4, 5, 9, 10

- Danny
Wednesday, 13 Sivan 5770

Halocho #112 - 0% interest on loans

The Torah prohibits charging interest and paying interest to fellow Jews. The Torah allows charging interest and paying interest to non-Jews.

• A person who lends money to a Jew and charges interest, has transgressed six Torah commandments and - if he doesn't repent - will not awaken at Techiyat Hameitim - when the dead will be revived at the End of Days.
• The person who borrows the money transgresses three Torah commandments.
• The scribe, witnesses, co-signer and middle-man all transgress one Torah commandment.

In most cases, a person who received interest from a loan needs to return it. Even if the borrower - on his own accord - returns more than he borrowed or adds a gift, it is considered interest on the loan and the lender is not allowed to accept it. Even non-monetary gain from a debtor is forbidden. For example:

• The creditor may not ask the debtor to inform him when somebody has arrived, unless he used to do this before giving him the loan.
• The debtor may not go out of his way to greet the creditor, unless he always used to do so.
• The debtor may not patronize the creditor's business, unless he used to do so before getting the loan.

When doing a business deal with a fellow Jew, one needs to use a Heter Iska - the subject of a future posting.

Source: Kitzur Shulchan Aruch 65:1, 2, 4, 5, 9, 10

I discovered the following two useful sites:

• Online Kitzur Shulchan Aruch with vowels:
• Online Kitzur with English translation - a work in progress

Halocho #107 - Lending is a Mitzva

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 Please daven for a little girl - TAMAR bat NAAMA - תמר בת נעמה - who is undergoing chemotherapy