Interest is a fact of life. It is inherent in the operation of money. We do not always have adequate funds for different items of purchase and have to borrow money. Those lending money need to be compensated for the use of their money. Money’s Investment Terms defines "interest" as "1. Cost of using money, expressed at a rate per period of time, usually one year, in which case it is called an annual rate of interest..." Therefore an interest rate is based on a rate plus a time period. The Lord Jesus said in Luke 19:23, "Wherefore then gavest not thou my money into the bank, that at my coming I might have required mine own with usury?" Obviously, the Lord Jesus did not condemn the use of money and receiving interest on the lending of that money. Business could not be conducted without the use of interest. Without an incentive to loan money, none would be lent. People have to compensated for their efforts and their taking of risk i.e. being paid back the money they have lent.
Application
To properly understand the Bible, we need to use what is known as applied theology.
However, there are times when it is not appropriate to charge interest. This is the exception and not the rule. The exception establishes the rule. Leviticus 25:35-38 is an instance, "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. 36Take thou no usury of him, or increase: but fear thy God; that thy brother may live with thee. 37Thou shalt not give him thy money upon usury, nor lend him thy victuals for increase. 38I am the LORD your God, which brought you forth out of the land of Egypt, to give you the land of Canaan, and to be your God." The condition here is that a brother is poor. If so, no interest is to be charged upon a loan to him. It would be hard for the poor man to pay back the loan with an added burden of interest. In other words, it would compound the problem rather than solving it.
1 John 3:17-19 is a restatement of this Old Testament law, "But whoso hath this world’s good, and seeth his brother have need, and shutteth up his bowels of compassion from him, how dwelleth the love of God in him? 18My little children, let us not love in word, neither in tongue; but in deed and in truth. 19And hereby we know that we are of the truth, and shall assure our hearts before him." We know that the law of God defines what love is. When we see a brother in need, we are to be compassionate and either give or lend as he have need. We are not just to say that we love them, but rather prove it and the best way to do that is by actions.
The only way one can have faith is by actions rather than words, which is the message of James 2:14-17, "What doth it profit, my brethren, though a man say he hath faith, and have not works? can faith save him? 15If a brother or sister be naked, and destitute of daily food, 16And one of you say unto them, Depart in peace, be ye warmed and filled; notwithstanding ye give them not those things which are needful to the body; what doth it profit? 17Even so faith, if it hath not works, is dead, being alone." We are obviously back up our talk with action. The poor brother and sister have needs that can only be met by giving, whether by a charity loan or an outright gift. Do not say what great faith you have, if you do not back it up with practicality.
Paul instructed us in Galatians 6:10, "As we have therefore opportunity, let us do good unto all men, especially unto them who are of the household of faith." We are to look out for the needs first of all those who are brother and sisters in the Lord. Then we are to look out for the needs of others. We are to take of our own first. Looking out for and taking care of the poor was something the first century church considered to be normal operating procedure as Galatians 2:10 says, "Only they would that we should remember the poor; the same which I also was forward to do." Helping the poor is practical way of taking back charity from the government who turn people into welfare dependents. The goal is the all charitable help is to be short term in nature. We do not want people to become dependent but rather independent. The charity loan is a stop gap measure to help someone get back on their feet, not as a permanent form of income.
Some people are unscrupulous and seek to take advantage of people. They may prosper short term but Proverbs 28:8 says not in the long run, "He that by usury and unjust gain increaseth his substance, he shall gather it for him that will pity the poor." No one ever prospers by breaking God’s law. They will not be able to prosper. David explains what a holiness man looks like in Psalm 15:1-5, "LORD, who shall abide in thy tabernacle? who shall dwell in thy holy hill? 2He that walketh uprightly, and worketh righteousness, and speaketh the truth in his heart. 3He that backbiteth not with his tongue, nor doeth evil to his neighbour, nor taketh up a reproach against his neighbour. 4In whose eyes a vile person is contemned; but he honoureth them that fear the LORD. He that sweareth to his own hurt, and changeth not. 5He that putteth not out his money to usury, nor taketh reward against the innocent. He that doeth these things shall never be moved." He lends without taking interest. He lends willingly to his poor brethren. In other words, he obeys all of God’s law.
Conclusion
Proverbs 19:17 has a promise attached to it, "He that hath pity upon the poor lendeth unto the LORD; and that which he hath given will he pay him again." When we lend to our poor brother, we are in essence lending to the Lord. He promises that He will pay us back and with interest.
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