Abel is an artisan who specializes in tooled leather furniture. He has identified the following potential areas of investment:
to purchase raw materials for production such as properly seasoned wood and high quality leather.
to purchase new tools or equipment for the workshop, including a router table and a stand on which to varnish the pieces.
Abel has been selling through NOVICA since 1999. This is his story:
Abel has been crafting leather items since he was 16. His older brother, Hector, taught him. "When I was 23, I opened my own workshop in my house," Abel says. "I cut and tool fine leather with a distinct style and skill that you won't find in many workshops. I design many beautiful Inca and colonial motifs, and emboss those upon the leather. I am especially happy and proud that my products are being sold all over the world now through the internet."
"I am so excited to have this opportunity to borrow funds through Kiva for the first time. Life is constantly offering us learning opportunities. I feel so proud to know that something that my family and I have created with our hands can become a part of someone's home – wherever they are in the world! That gives me such a sense of satisfaction. And now I'm thankful for this opportunity to reach new lenders who can offer their support from around the world. Thank you for considering this microcredit."
Important information about Novica
Novica is an e-commerce website that allows artisans around the world to sell unique, high-quality goods directly to consumers. It also offers small loans to help artisans in the developing world start and grow their businesses. It’s possible to buy goods created by the artisans you help fund on the Novica website.
Repayments on Novica loans are tied to artisan revenue. This means that if an artisan has a good month, they will pay back more -- or less during slower months. To accommodate this, all repayments on this loan are due at the end of the loan term. Any repayments received before this deadline will be considered pre-payments, but will still be distributed to lenders as usual.
Because Novica is not a microfinance institution, Kiva’s risk rating system is not applicable. Kiva has conducted onsite due diligence, and Kiva’s Investment Committee approved the organization as a partner. Novica offers artisans loans at 0% interest.