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The Lend-Lease Act of March 11, 1941, was the principal means for providing U.S. military aid to foreign nations during World War II.he Lend-Lease Act of March 11, 1941, was the principal means for providing U.S. military aid to foreign nations during World War II.
President Roosevelt signed the Lend-Lease bill into law on 11 March 1941. It permitted him to sell, transfer title to, exchange, lease, lend, or otherwise dispose of, to any such government [whose defense the President deems vital to the defense of the United States] any defense article..hile repayment of the interest-free loans was required after the end of the war under the act, in practice the U.S. did not expect to be repaid by the USSR after the war. The U.S. received $2M in reverse Lend-Lease from the USSR.