Maria works in the traditional Peruvian art of arpilleria, which combines patchwork and applique techniques to create happy, busy scenes. Traditionally, women have found in this art a way to express their creativity as well as a means of extra income. With this loan, she hopes to stock up on fabric in sufficient quantity to obtain the best price. She would also be able to invite talented neighbors and friends to collaborate with her.
Maria has been selling through NOVICA since 2007. This is her story:
Maria joined a women's group to learn the textile arts. "At first, we'd create our patchwork wall hangings from old clothes. One day, with the little bit of money we each could contribute, we bought bolts of fabric and spools of yarn and thread. With these materials, we created our first pieces to sell."
"I've been able to create more and more textile art over time. This is wonderfully helpful to all of us — my family as well as the women who work with me. We all have families and we want to get ahead in life. It's great to be able to keep this art form alive. I'm very grateful for your help, and want to send each of you an affectionate greeting and our heartfelt thanks."
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.