Asunta is a master of the traditional Andean art of reverse-painted glass. With this loan, she will be able to expand production ahead of the upcoming high season by hiring more artisans for her workshop.
Asunta has been selling through NOVICA since 1999. This is her story:
"I first learned my craft from my husband's family. I realized that the more I practiced, the more this craft won me over, offering me tremendous gratification. Now I consider it a way of life. This whole process demands incredible patience and attention to detail. My designs are inspired by nature, and by traditional scenes from my town and region. I feel very proud of the works that I create."
"I was one of the first artisans to join NOVICA in Peru and, when I look back, it makes me smile to see how much I've been able to grow — not just me but my family, too. My sons are older now and I was able to pay for their college education through my work. My husband and I are very grateful to NOVICA and all of you for your support."
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.