The obligation to extend loans applies even if there is a possibility the money will be lost, and Hashem will repay the person. But, certainly, in these matters every person must carefully weigh his deeds to see what he can afford to the best of his ability. For even when it comes to good deeds and piety there is a limit, and one needs scales of justice to make sure that one does not incline towards any extreme, but only the middle, wholesome path. Our Sages thus said, “Which is the proper path that a man should choose for himself? Whatever is a credit to himself and earns him the esteem of fellow men” (Avos 2:1). As noted by the wise sage, “Part of being cautious is to not be overly cautious (Chovos Halevavos, Introduction). All the more so, in the issue we are discussing here, about which it is written, Good is the man who is gracious and lends; who conducts his affairs with justice (Tehillim 112:5) — it is certainly not good to give out so many loans in a manner that he will have nothing left of his money and he will himself need the kindness of others.
Rather, this is the correct path one should take: If the person was graced by Hashem with wealth and possessions in excess of what he needs for his livelihood, he should separate a portion of his wealth, in accord with the blessing Hashem has given him. Or he can accustom himself to the good custom of separating a tenth of his earnings; some of that sum he should set aside to have for giving loans and doing acts of kindness, and that will be a permanent fund with which he can keep this mitzvah all the days of his life. It will even help him after his death, when he can no longer do mitzvos, his righteousness will continue forever.
If the person cannot do this during his lifetime, then while he is yet alive he should at least remember to not leave all his wealth to his inheritors, which would leave himself empty of mitzvos, and he should not count on his children to send him the fruit of their righteousness; rather, he should prepare a will and testament instructing to set aside at least a tenth of his inheritance, or a certain portion of his possessions, to be an everlasting fund entrusted in the hands of a faithful person who will manage it, and with the earnings he will dispense charity and loans. Even better would be to set aside some land for this purpose, for the “earth stands forever,” and with the earnings of the land they will dispense charity and loans. How much pleasure and good will this give to the person after his death each time his tzedakah will follow him, and he will enjoy the fruit of his deeds. He will then be so grateful for his lot and he will only regret that he did not do more. Even in this, it requires careful consideration, for if his sons are Torah scholars or poor – then mercy for them comes first, and he must support them so that they can stand firm in their keeping of Torah and service of Hashem.
