Financial cooperatives use the capital of their members in micro-loans of those who work in fair trade and organic farming.
The ethical aims that inspire activities translate into extremely advantageous interest rates in the loan repayment plan, and in the absence of capital guarantees, generally required by banking institutions. They are in fact people (so-called solidarity buying groups ) that revolve around the entrepreneur financed to be guarantors of the seriousness of the economic project that one intends to realize.
On the pilot program launched more than 30 years ago in Verona, on the basis of the ancient law on the Mutual Relief of 1886, other important projects followed, mainly located in the North of Italy and exactly in Lombardy, where the 2 is based (a Inzago), in Piedmont (4 in Turin), and Emilia Rona ( 6 in Reggio Emilia) and only in more recent times (2005) in Lazio.
Here the first project, financed in 2006, was the completion of the work to start a bioequo restaurant and bar, the office also equipped for meetings and sales of fair trade products. The premises, managed by the company Cooperatva Officina del Gusto, had the availability of a loan of 16,000 euros, disbursed in two installments of 8,000 euros and amortized in 24 monthly installments from 666,667 to 8.7% without any investigation costs, nor additional expenses .
We also report the case of the historic Tomasoni dairy, engaged in the Brescia area in the production of organic , which was able to thwart the feared closure thanks to the involvement of the solidarity buying groups , who buy cheese directly from the company, and Mutual self-management 2 , which granted two tranches of loans for a total of 60,000 euros, with a duration of 36 months, with another 6 months of pre-amortization, at a fixed interest rate of 6 and 8%, necessary to cover only the management costs and not of the purchase of money, given that the source of financial supply – as mentioned – is represented only by the capital paid by the shareholders.