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An Italian bank takes Parmesan cheese as collateral!


If you're in the market for a bank loan in Italy, you can use cheese as your collateral. There's a special cheese bank that has state of the art security features to protect the 300,000 wheels of Parmigiano-Reggiano cheese stored in there.

Here's how this business works: Parmigiano-Reggiano takes a long time to properly age. Farmers have a hard time getting through tough times due to the long time between production and sale. This is where the bank comes in.

In exchange for a cheap loan, the bank will keep the farmers' wheels of cheese during the period where the wheel are just supposed to sit and age. This let's farmers run the rest of their business, make future sales, pay wages, while the cheese ages.

Read more about this interesting business model at the source.

(Source)

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