Asset-based lending extends to prized meat cows

Asset-based lending extends to prized meat cows

MORIOKA, Japan - Kita-Nippon Bank, a regional lender based in Morioka, Iwate Prefecture, has started taking prized Maezawa meat cows as collateral for the so-called asset-based lending to cattle farmers in the prefecture. A loan-taker is required to send a monthly report to the bank on the condition of the cows, which are tagged in both ears for the bank to track of their health and market value. According to Kita-Nippon Bank, similar asset-based lending is extended to cattle farmers in Shiga Prefecture and Hokkaido. (Kyodo)

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