History of Lending

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A brief history of lending through the ages

Rounding it up

  • The practice of lending has been around for thousands of years, with the first instances tracking back to Ancient Mesopotamia.

  • Lending at interest was a point of contention when ethics and religion had closer relevance to state laws and culture, particularly during the Middle Ages.

  • Lending also played a large role in 1800s America, as it encouraged working-class citizens to become financially stable through savings and home ownership.

  • For centuries, your ability to borrow was based on your spoken reputation and character, but has since evolved to be dependent on computerized credit scores.

9 min read

Chrissy Kapralos
#credit#credit score#lending#loan

Chrissy Kapralos

Chrissy is a freelance writer and editor who is passionate about making financial education accessible. She is also a communications advisor for the Ontario Ministry of Energy, Northern Development and Mines. When she isn't writing, you can find her practicing yoga or watching horror movies.

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