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Entrepreneur Can Christian businesses borrow money? By Tom Harper — CEO, Networld Media Group| www.biblicalleadership.com
The borrower is servant to the lender. – Prov. 22:7b
My understanding of the biblical position is that borrowing is permitted but should be done cautiously and prudently. Years ago I asked some successful Christian executives their The two definite prohibitions of borrowing are (1) if it enopinion on the Scriptural validity of borrowing money to slaves the borrower; and (2) if usurious interest is paid. grow a business. I was torn between Dave Ramsey’s no-debt approach to personal finance, and on the other hand the op- The Bible doesn’t teach that debt is wrong, just that it’s danportunity cost of never leveraging corporate growth. gerous, and something to be forgiven when conscience requires (God forgave our debts, didn’t he?) Interesting that Here are a few notable answers to the question “Is borrow- the longest debts in ancient Israelite communities lasted ing money to make an acquisition within biblical bounds?” only seven years before they were forgiven (see Deut. 15:1). I think Romans 13:8 would say no (“Let no debt remain outstanding”). Whether or not that is reality in today’s business world, I do not know. My only advice would be for you to consider carefully counting the cost … and then lay it all out before God and ask him for an answer.
So the counsel of these leaders and of Scripture is that we should avoid debt if we can, and when we do decide to employ other people’s money, we should seek fast freedom before the chains of debt tighten.
Let no debt remain outstanding, except the continuing debt I would think that it is OK to borrow for growth. The dif- to love one another, for whoever loves others has fulfilled ference is between borrowing for consumption vs. borrow- the law (Romans 13:8). ing for investment. There is, of course, still risk, and so prudence is required, but I don’t think borrowing for acquisition would be inherently sinful.
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TT 142 | MAR 1st - 7th | 2022
