There are two parallel lines in this verse, each expressing similar meaning. The verse states what is a natural law of society, that people who are poor and who have to borrow are dependent on those who have the wealth.
“The rich rules over the poor”: “The rich” and “the poor” are the same common terms as in verse 2. “Rules over” means to have power or authority over someone. Many versions have “rule,” but alternatives in English are “dominates” (Scott) and “lords it over” (New Jerusalem Bible). Some translations restructure the first line to match the second line, and say, for example, “The poor are ruled by the rich” (Contemporary English Version) or “Poor people are slaves of the rich” (Good News Translation).
“And the borrower is the slave of the lender”: The terms “borrower” and “lender” are both forms of the verb “to borrow” in Hebrew; the “lender” is literally “one who causes to borrow.” The strong term “slave” can have the sense of either “slave” or “servant”; but it probably has a figurative rather than a literal meaning here; that is, the person who borrows money has an obligation to the lender and does not literally become the lender’s slave. Some translations render the figure of speech as a simile; for example, “and people who take loans are like slaves to those who lend.”
Quoted with permission from Reyburn, William D. and Fry, Euan McG. A Handbook on Proverbs. (UBS Helps for Translators). New York: UBS, 2000. For this and other handbooks for translators see here .

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