But Amadei Giannini was very confident that in his bank, small business owners and farmers could obtain low-interest loans of 25 US Dollars without any collateral.
This was a very visionary strategy at the time, as common folk often struggled to borrow money for starting a business or investing in agricultural production, leaving them helpless. Amadei Giannini remembered well the lesson of how his father had suffered tragedy over just 1 US Dollar. He frequently visited farmers door to door, persuading them to deposit their money into his bank.
Undoubtedly, his approach supported farmers and small business owners, who, once they made money, would become loyal depositors of the Italian Bank—people generally have this sense of gratitude.
Amadei Giannini's foresight was precisely reflected here.
In the morning of April 18, 1906, a world-shocking earthquake occurred in San Francisco.
