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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.
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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