Protestantism did not separate money and religion. Read our confessions and catechisms and that will be quite clear. A representative example would be the [WLC](https://opc.org/lc.html) on what the 8th Commandment ("Thou shalt not steal") both prohibits and requires:
> Q. 140. Which is the eighth commandment?
> A. The eighth commandment is, Thou shalt not steal.
> Q. 141. What are the duties required in the eighth commandment?
> A. The duties required in the eighth commandment are, truth, faithfulness, and justice in contracts and commerce between man and man; rendering to every one his due; restitution of goods unlawfully detained from the right owners thereof; giving and lending freely, according to our abilities, and the necessities of others; moderation of our judgments, wills, and affections concerning worldly goods; a provident care and study to get, keep, use, and dispose these things which are necessary and convenient for the sustentation of our nature, and suitable to our condition; a lawful calling, and diligence in it; frugality; avoiding unnecessary lawsuits, and suretiship, or other like engagements; and an endeavor, by all just and lawful means, to procure, preserve, and further the wealth and outward estate of others, as well as our own.
> Q. 142. What are the sins forbidden in the eighth commandment?
> A. The sins forbidden in the eighth commandment, besides the neglect of the duties required, are, theft, robbery, man-stealing, and receiving anything that is stolen; fraudulent dealing, false weights and measures, removing landmarks, injustice and unfaithfulness in contracts between man and man, or in matters of trust; oppression, extortion, usury, bribery, vexatious lawsuits, unjust enclosures and depredation; engrossing commodities to enhance the price; unlawful callings, and all other unjust or sinful ways of taking or withholding from our neighbor what belongs to him, or of enriching ourselves; covetousness; inordinate prizing and affecting worldly goods; distrustful and distracting cares and studies in getting, keeping, and using them; envying at the prosperity of others; as likewise idleness, prodigality, wasteful gaming; and all other ways whereby we do unduly prejudice our own outward estate, and defrauding ourselves of the due use and comfort of that estate which God hath given us.
And, further, doesn't allowing full-recourse loans invariably lead to a bigger state, under a hard currency?
You always need thugs to collect the debts, or the business would eventually go bankrupt, as it isn't actually possible to make money off of money; you can only "borrow" from future consumption. In other words, you can't give them some of the New Money that is created in the meantime, as that money is not being created.
not strictly true, in the case of profitable enterprises
and those who borrow to consume are paying the premium in order to pull forward that consumption
the real problem is that encouraging credit financing as a normal way of doing business encourages imprudence and raises time preference, so it is a temptation that the lesser 1/3 of the population is very vulnerable to
and i think it is actually false that financing enterprises is beneficial, in most cases i think it is not, like, 99.99%
it is a fallacy that important large projects cannot happen without credit, because it can happen instead with crowdfunding, or the old version, equity finance
