German bank accepts loan to be guaranteed with Parmesan

Parmesan illustration.

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An Italian company on Monday obtained an original loan from Deutsche Bank.

If she did not manage to pay off her loan, she would have to pay it back… in Parmesan, reports

.

The German bank has granted the company Ambrosi a loan of 27.5 million euros with as counterpart no less than 125,000 wheels of Parmesan and Grana Padano.

Thanks to this loan, the family business will be able to build a new fermentation cellar.

Between 550 and 740 euros per wheel

For the German bank, this cheese counterpart does not pose any problem.

The grinding wheels that she will recover in the event of non-payment by her client have an estimated market value of between 550 and 740 euros, which represents between 68.7 and 92.5 million euros in total.

The bank does not take any risk either: Parmesan is a "relatively standardized food that can be stored for a long time", specifies the German daily 

.

Since 1953, the Italian regional bank Credito Emiliano has offered similar loans to cheese companies, in exchange for guarantees on the parmesan stock.

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