Believing in one's dreams

For Teresa de Marco, opening La Cucina di Nonna Tetta* was not just about running a restaurant – it was about welcoming people into her kitchen, just as she would at home. With the help of her daughter and two skilled collaborators, she has brought together an all-women team that thrives on camaraderie and shared passion.

Starting a business later in life was not easy.

“I had to leave behind a peaceful existence, with paid holidays and less hectic days”, says Teresa.

But her vision was clear: to build a strong foundation so that when her daughter eventually takes over, the transition will be smooth.

Her restaurant has been growing steadily and in 2024 Teresa set her sights on expanding. Financing, however, was a challenge – until a supplier introduced her to BPER in Battipaglia, in the province of Salerno. While the bank could not directly support her project, they were so inspired by her determination that they connect her with their partner, PerMicro, a financial institution specialising in microloans.

Weaving success in the textile industry

Like Teresa, Orietta Bini took a bold step toward entrepreneurship. After working for years in a textile company producing fabric samples and catalogues for the furniture and textile industries, she seized the opportunity to buy the business. She transformed what was once a one-woman operation into Armocromie di Bini Orietta, a thriving enterprise that now employs four local women full-time.

Orietta’s journey, however, was not without obstacles. Securing financing proved difficult, as traditional Italian banks typically prefer to finance larger business loans, leaving small entrepreneurs with few options. PerMicro stepped in, providing two loans totaling €63,000, which allowed Ms. Bini to expand operations and plan for the future.

The power of microfinance for women entrepreneurs

Entrepreneurs like Teresa and Orietta are precisely the kind of business owners that PerMicro was created to support. In Italy, major banks rarely offer loans below €50,000, leaving many small businesses underserved. PerMicro fills this gap by providing microloans – typically up to €40,000 – helping entrepreneurs access the capital they need to set up activities and grow them.

In Italy, only 22% of businesses are led by women, making success stories like those of Teresa and Orietta the exception rather than the rule. Reducing this gender imbalance has been one of the explicit goals of the CEB’s collaboration with PerMicro since 2013, which translated into five loans totaling €45 million.

The first €6 million loan was followed by four successfully implemented projects, one of which had a target of reaching at least 25% of women entrepreneurs. In the end, nearly 38% of CEB-supported loans disbursed by PerMicro went to women-owned or women-led businesses, well above the average rate of female-led companies in Italy.

“The CEB loans enable PerMicro to support a high number of women beneficiaries, given our focus on gender equality,” says Lucia Bucciarelli Ducci, Country Manager for Italy at the CEB. “On one occasion the loan was even blended with a technical assistant grant implemented by Microlab and targeted to women victims of economic violence.”

According to the CEB’s Strategic Framework 2023-2027, the Bank is committed to mainstreaming gender considerations across all its operations to protect the rights of women and girls. The CEB systematically assess the potential impact of CEB-financed activities on gender equality.

“CEB focus on women is aimed at promoting gender equality and financial inclusion.

Furthermore, by enhancing their economic independence, the Bank’s financial support empowers women to create jobs, improve household well-being and drive sustainable community development,” says Lucia Bucciarelli Ducci.

Looking ahead: a future of possibilities

Financial support is just one side of the equation. PerMicro also offers non-financial services, including business strategy guidance, financial planning and ongoing mentorship. From the initial loan evaluation to annual check-ups, entrepreneurs receive expert advice to navigate challenges and refine their business models.

With continued support from institutions like PerMicro and the CEB, more women entrepreneurs in Italy will have the opportunity to turn their visions into reality. Whether it’s a cozy restaurant where guests feel like family or a textile business creating jobs for local women, these success stories highlight the power of financial inclusion and female entrepreneurship.

For Teresa, the journey is far from over. She is already looking ahead to new projects, armed with determination La Cucina di Nonna Tetta is more than just a restaurant – it is a testament to resilience, passion, and the power of believing in one’s dreams.

* Grandma Tetta’s Kitchen