Paty is a Peruvian artisan who specializes in handcrafted bracelets that feature leather, handwoven textiles and silver accents. She'd like to purchase additional raw materials for her designs.
Paty has been selling through NOVICA since 2011. This is her story:
"I was always a good student and I excelled in the arts. I learned that my passion was in things I could develop with my own initiative. I especially liked jewelry in all its forms. Few people get to work at what they love, what they were born to do. I combine techniques from knitting and crochet with the art of silverwork. My art is the way I express my emotions. I tend to create different jewelry designs depending on how I feel."
"My love for crafts led me to discover a passion for this art, and Novica has helped me transform this into the work that sustains me. I am in love with jewelry crafting. Thank you for being a part of this by assisting with this microcredit."
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.