Comments on: Should Christians Lend Money and Charge Interest?

By: tony

tony — Thu, 01 Jul 2010 15:02:18 +0000

Hello Craig…I’m planning to enter P2P but i’m so confused because im so afraid that it might be immoral for me to enter that kind of business. I just want to ask, how much is the exact percentage I can give to the borrower of my money. This will help me a lot. I’m looking forward to hearing from you soon. Thank you so much.

By: Craig

Craig — Wed, 16 Jun 2010 23:05:27 +0000

@Michael
Thanks for you comment. It would be hard for me to lend money to a brother in-law. Ultimately, the question is what helps him more. Typically, people borrow from family because the bank won’t lend them money. I’m wondering if it would really be helping them by lending him money when the bank doesn’t even think he is fit to borrow.
That said, in the past I have lent money to my immediate family. The interest was always better than what either of us could get from the bank. However, I doubt I would do that again.
If I understand correctly Jews also still do not charge interest to each other. In the end the question is – is charging interest a matter of morality? In my case, I don’t think it is immoral to charge an appropriate level of interest.

By: Michael R. Cooke

Michael R. Cooke — Wed, 16 Jun 2010 22:55:36 +0000

If a brother in-law borrows money, do you charge interest? You might, but because there’s a relationship the important thing is helping the person, the thought of personal gain vis interest runs counter to the generous impulse.

Now, in P2P lending we’re speaking of people you have no background of relatedness to.

I’m not a Christian personally, but I was raised to be one and I believe it is not Christian to accept interest because you are to love all as you love your brother.

That said, the secular reality of lending always accompanying interest means that it is never ever wrong and perfectly legal to charge modest interest on any loan.

But if you are Christian charging interest, understand Muslims hold the moral high ground. They never charge interest for loans, it is clear to them it is forbidden. I lived in Queens recently and many of the local shops were Muslim owned. Loving interest free loans are responsible for every one of those successful shops. And in that neighbourhood where were Christian run shops? There are Christians there, but conventional loaning practices demand interest and substantial collateral…..

By: Yard Sales: My Social Event

Yard Sales: My Social Event — Sat, 15 Aug 2009 19:19:43 +0000

[...] Should Christians Lend Money and Charge Interest at Money Help for Christians [...]

By: Craig

Craig — Thu, 13 Aug 2009 13:02:43 +0000

@The Digerati Life Thanks so much for your comment. I’m honored to know you took the time to read this post and leave a comment.

By: The Digerati Life

The Digerati Life — Wed, 12 Aug 2009 21:19:34 +0000

Great post! I am a Christian and agree with your conclusions wholeheartedly. It's an encouraging view of lending that I appreciate. .-= The Digerati Life´s last blog ..Secured Credit Cards To Boost Your Credit =-.

By: Joe Plemon

Joe Plemon — Tue, 11 Aug 2009 18:50:42 +0000

Craig,

Thanks for researching and writing on this topic. As with many issues, Christians cannot simply find a “proof text” to hang their hats on. God expects us to consider the principles behind the actions and actually use our brains. You did a great job of not only giving the biblical historical background, but the reasons for the biblical directives. It was a help for me as I have been struggling with the issue. I plan to re-read this post a few times to let it soak in.

Thanks again.
.-= Joe Plemon´s last blog ..True Confessions: I Bounced a Check =-.

By: Craig

Craig — Tue, 11 Aug 2009 12:47:06 +0000

@jessco98 Thanks for you comment. My main goal in this post was to address this question biblically as I know others have also asked the question. Thanks for your ideas.

By: jessc098

jessc098 — Tue, 11 Aug 2009 03:15:27 +0000

Craig, great post. I’ve wondered about this myself. I am a Christian, and do participate in lending because A: I’m not feeling financial secure enough to donate money outright and B: I feel like it helps people while providing me with a little financial security, and a little gain.

Thus far, my six month experience with both Lending Club and Kiva is showing me that it is indeed helping people–one of my loans has already been repaid (two and a half years early!) I just try to make sure that I’m acting in the borrower’s best interest.

Great points, and great research too! Thanks!
.-= jessc098´s last blog ..Day 10: Fix it first =-.

By: Craig

Craig — Mon, 10 Aug 2009 19:52:09 +0000

@Peter Thanks for you comment. I think the selection process is the most important element as we control our lending. I do not want to be responsible for predatory lending as the Bible does not have a lot of positive things to say about it.