Fabiana is an artisan who specializes in sterling silver jewelry inlaid with natural gemstones and hand-carved dried gourds. She would like to invest in the purchase of larger quantities of sterling silver to continue production.
Fabiana has been selling through NOVICA since 2010. This is her story:
"I learned by watching my father at work, as well as from watching other artisans in my village. I enjoyed creating my own pieces and eventually decided to be immersed in the wonderful world of jewelry. I'm motivated by a desire to highlight women's beauty and personality through my designs and creations. I have the best job in the world, and I give it my all through patience, love and hard work in order to obtain the best quality possible."
"We're approaching that time of the year when it's our highest selling season, and I would like to be prepared for it. This interest-free microcredit loan makes it possible for me to stock up on sterling silver and gemstones so I can craft a good amount of jewelry in time. It also means I have the opportunity to develop new designs to offer to customers. I hope everyone will love my new collections! Thank you!"
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.