Parshat Mishpatim:

Interest-Free Loans

This week is International Hebrew Free Loan Shabbat, a week to learn about and honour the work of Hebrew Free Loan Societies. These non-profit Jewish community organizations raise funds and make confidential interest free loans to support transitions and new initiatives. They are based on two principles: (1) Maimonides' teaching that the highest form of tzedakah is to help a person help themselves; and (2) The Torah's teaching, from Parshat Mishpatim, to offer interest-free loans.

Torah says: If you lend money to My people, to the poor among you, do not act toward them as a creditor; exact no interest from them. (Shemot/Exodus 22:24)

Rashi comments on the Torah's choice of words: "My people" teaches that as we make individual tzedakah decisions, we should prioritize "my people," i.e.,  those closest to us. "Among you" reminds us that each of us is always close to poor because the causes of poverty -- illness, war, recession, displacement - can come into anyone's life. "Do not act as a creditor" teaches: keep the transaction confidential so as not to embarrass anyone.

Rashi continues: The word "interest" teaches us about the great wound that a loan can make in a person's life. The word neshech (interest) is from the same root as nashach (bite). A snakebite begins as a little wound, but the wound can swell throughout a person's body. Similarly, interest seems like a small percentage, but it mounts up and becomes a huge amount of money.

No doubt Rashi knew about loans from his own experience of building and maintaining a winery. Many of us know personally about interest from mortgages, student loans, car loans, and business loans. If we are able, let's help others avoid that burden. 

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