סימן סה סעיף כד
יִשְֹרָאֵל שֶׁלָּוָה מֵעוֹבֵד כּוֹכָבִים בְּרִבִּית, וְיִשְֹרָאֵל אַחֵר יִהְיֶה עָרֵב, אִם הוּא בְּעִנְיָן שֶׁאֵין הָעוֹבֵד כּוֹכָבִים יָכוֹל לִתְבּוֹעַ תְּחִלָּה אֶלָּא אֶת הַלֹּוֶה, וְאַךְ כְּשֶׁלֹּא יִהְיֶה אֶפְשָׁר לִגְבּוֹת מִן הַלֹּוֶה, אָז יָכוֹל לִתְבּוֹעַ מִן הָעָרֵב, מֻתָּר. אֲבָל אִם הוּא בְּעִנְיָן שֶׁהָעוֹבֵד כּוֹכָבִים יָכוֹל לִתְבּוֹעַ תְּחִלָּה אֶת הֶעָרֵב, אִם כֵּן, הֲוֵי כְּאִלּוּ הֶעָרֵב לָוָה מִן הָעוֹבֵד כּוֹכָבִים וְהִלְוָה לְיִשְֹרָאֵל הַלֹּוֶה וְאָסוּר. וְכֵן עוֹבֵד כּוֹכָבִים שֶׁלָּוָה מִיִשְֹרָאֵל בְּרִבִּית וְיִשְֹרָאֵל אַחֵר הוּא עָרֵב, אִם הוּא בְּעִנְיָן שֶׁאֵין הַמַּלְוֵה יָכוֹל לִתְבּוֹעַ תְּחִלָּה אֶלָּא אֶת הָעוֹבֵד כּוֹכָבִים הַלֹּוֶה, וְאַךְ כַּאֲשֶׁר לֹא יִמְצָא אֶצֲל הָעוֹבֵד כּוֹכָבִים הַלֹּוֶה אָז יִגְבֶּה מִן הָעָרֵב, מֻתָּר. אֲבָל אִם הוּא בְּעִנְיָן שֶׁיָּכוֹל לִתְבּוֹעַ תְּחִלָּה גַּם אֶת הֶעָרֵב, אִם כֵּן הֶעָרֵב הוּא כְּמוֹ לֹוֶה, וְאָסוּר. וְאִם הַיִשְֹרָאֵל עָרֵב רַק בְּעַד הַקֶּרֶן וְלֹא בְּעַד הָרִבִּית מֻתָּר (בְּדִין יִשְֹרָאֵל שֶלָּוָה מִיִשְֹרָאֵל וְיִשְֹרָאֵל אַחֵר יִהְיֶה עָרֵב, וְהַלִּוֶה מְשׁלֵּם לוֹ עֲבוּר זֶה שֶׁהַ"טּוּרֵי זָהָב" וה"שִׂפְתֵי כֹהֵן" בִּ"נְקֻדּוֹת הַכֶּסֶף" מְקִלִּין, הִנֵּה דַעַת ה"חַוּוֹת דַּעַת" לְהַחְמִיר, עַיֵן שָׁם) (ק"ע).
Preface to Paragraph 24
These laws are pertinent to the understanding of paragraph 24:
1) The Torah permits the borrowing from and lending to a gentile for interest. (The Sages, however, limited the collection of interest from a gentile to the amount necessary to earn a livelihood).
2) There are two kinds of areiv (עָרֵב)—co-signer:
a)The lender must first approach the borrower to collect his debt. In the event that the borrower cannot pay, then and only then may the lender demand payment from the areiv. In this situation the original recipient of the money from the lender is considered the borrower, regardless who pays in the end.
b) The lender retains the option to demand payment from either the areiv or the borrower, whomever he decides to approach first. If he collects from the areiv, then the areiv has the right to be reimbursed from the borrower. Here, the borrower is considered to have borrowed from the areiv. It is as if the areiv borrowed the money from the lender and then proceeded to lend that money to the borrower.
A Jew may borrow from a gentile with interest with another Jew as an areiv under the following conditions: the terms of the loan are such that the gentile must first demand payment from the borrower and only if it is impossible to collect from the borrower can he demand from the areiv.46This is considered a loan directly from the gentile to the Jew and there is no prohibition of ribis. But, if the terms of the loan are such that the gentile may first demand [payment] from the areiv; consequently, it is as if the areiv borrowed money from the gentile and [then] lent it to the Jewish borrower and it is prohibited.47Since the borrower is only obligated to the areiv—both Jews, it is a classic case of ribis. Similarly, [if] a gentile borrowed from a Jew with interest, and another Jew is the areiv, if the terms of the loan are such that the lender must first demand payment from the gentile, and only when he does not find [satisfaction] from the gentile borrower that he may collect from the areiv, [then] it is permissible.48Since the primary parties are the gentile borrower and the Jewish lender, no prohibition of ribis applies. But if the terms of the loan are such that the lender can initially demand payment from the areiv, consequently, the areiv is like the borrower, and it is prohibited. However, if the Jew co-signs only for the principal and not for the interest, it is permitted.49Because there is no ribis involved between the two Jews. (Concerning a Jew who borrowed from a Jew and another Jew will be the areiv, and the borrower gives the areiv a fee for signing, the Turei Zahav and the Sifsei Kohein in Nekudos Hakesef are lenient. However, the opinion of the Chavas Daas is to be stringent.)
תנא דבי אליהו כל השונה הלכות בכל יום מובטח לו שהוא בן העולם הבא שנאמר הליכות עולם לו אל תקרי הליכות אלא הלכות (נדה ע"ג.)