Put Up Parmigiano Cheese As Collateral For Your Business

Chuck Banner | July 1st, 2018

When it comes to Italy, you can always bet that things will be done the Italian way. No need for changes, things will be done how they have always been done. And this is especially true for Southern Italy, where the traditions and culture of the country decide the way of the world. But it is even truer in the region of Emilia-Romagna, in northern Italy where the Po River meets the Apennine Mountains. Here if you have a business idea, then you may be in luck for receiving a small business loan – all you need is a big chunk of cheese.

italoamericano.org

Parmigiano cheese becomes more valuable as it ages, but producers do sometimes sell the less mature wheels to access to some quick cash. But this would mean a loss of income in the long run, something that Credito Emiliano understood. They stepped up and decided to act in the interest of the farmers, offering them small business loans & asking for a guarantee in the form of a wheel of cheese. The bank’s finance was assured due to the cheese wheels gaining value over time. And the economic decision was an extremely good one, the cheese market is always booming in Italy. Meaning a wheel of premium Parmigiano cheese can depending on the age, fetch anything between 900 to 2500 USD.

Credito Emiliano’s initiative has now been running for over 60 years and continues to support small family business in the local area. It even received studies done by the Harvard School of Economics and let’s face it if your economic and business strategy has led to Harvard studying your process then you must be doing something right.

It is more than just economical support though, Credito Emiliano is strongly rooted in the sense of heritage, tradition, and assistance to everything that can proudly stand up and say “Made In Italy.”

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