Buana is an artisan who specializes in handmade jewelry. He would like to invest in the purchase of such raw materials as silver and a variety of natural gemstones.
Buana has been selling through NOVICA since 2006. This is his story:
Like most people who were born and live in Gianyar, Bali, Buana has been surrounded by handicrafts since he was a child. In 1990, he decided to learn to craft silver jewelry from a friend in Celuk. He learned it all, from the very basic skills like sanding, polishing and making plates to very advanced techniques. Supported by his family, Buana has continued his profession as a silversmith. "I've been around handicrafts all my life. I am thankful to God for giving me such a great gift so I can make a living for my family."
"I am grateful that all of you got together to create these funds for me to invest in materials. I'll be able to continue crafting my jewelry collections and to build a good stock, which requires a lot of time, money and hard work. May God bring you blessings and reward your kindness. Thank you very much, from the bottom of my heart."
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.