Alfredo is an artisan who specializes in alpaca accessories including shawls, ponchos, hats and scarves. This is the time of the year when alpaca wool is readily available, and he would like to invest in large quantities so he can prepare a good stock of accessories for the upcoming high season.
Alfredo has been selling through NOVICA since 2001. This is his story:
"When I was but a small child, I learned from my parents the best weaving techniques. Like me, they had learned from their own parents. This makes us a family entirely devoted to the world of textiles, and we have been for generations. Nowadays, I combine weaving by hand with the use of classic equipment, and have a special passion for traditional Inca and colonial motifs."
"From the moment I joined NOVICA I began to grow and grow as an artisan and as a person. And not only that, my designs and my work have also improved. I've created new designs and collections thanks to the unwavering support I've received. My workshop has grown and so has the team of people I work with, which is my way of supporting the people in my community -- especially the women who provide for their families. It fills me with great pride to know that I have achieved all of this with a product that is 100% Andean. I would like to take this opportunity to thank you for considering this microcredit request. You are supporting the preservation of our culture and tradition."
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.