פירוש על בבא מציעא 6:7

הלוהו – money.

If one gave a loan and took a pledge he is accounted a paid guardian. Rabbi Judah says: “If he lent him money he is accounted an unpaid guardian; if he lent him produce he is accounted a paid guardian.” If one gave a loan to another person and took from that person a pledge to guarantee the loan, the lender is considered to be a paid guardian vis a vis the pledge. Since by keeping the pledge he is getting in return a guarantee on his loan he has the added liability of being a paid guardian. Rabbi Judah refines this law. According to Rabbi Judah one who loans money is accounted an unpaid guardian over a pledge. Since Jews cannot lend other Jews with interest, lending money is a total favor to the borrower. Therefore, in compensation, the lender has less liability over the pledge. However, one who lends produce actually benefits by lending it, since the produce may have gone bad while in his possession. Since he receives benefit he is a paid guardian over the pledge.

על המשכון שומר שכר – whether he lent him and afterwards he (i.e., the borrower) gave a pledge, whether he gave a pledge and afterwards took a loan, what is the reward? It is the reward of the Mitzvah (see Bava Metzia 81b).

Abba Shaul, “One may hire out a poor man’s pledge and thereby reduce the debt, for in such a way he is like one who returns lost property.” Abba Shaul states that if a lender takes a pledge from a poor person he should rent out the pledge and keep the money in order to gradually reduce the amount of the pledge. In this way he is able to return the pledge to the poor person without the poor person actually having to pay back his loan.

הלוהו מעות שומר חנם – for Rabbi Yehuda does not hold the reward of a Mitzvah for the purposes of law.

הלוהו פרות שומר שכר – for it is the manner of produce to decay/rot, but the Halakha is not according to Rabbi Yehuda.

מותר אדם להשכיר – to others.

משכונו של עני – that is in his hand.

להיות פוסק עלו – a profit.

והולך – always and lessen from the liability [of the loan]. And specifically with a pledge that the reward is great and its decrease is small such as a hoe and an ax (see Bava Metzia 82b) and similar kinds of things. And such is the Halakha.