Joucelyn is an artisan who specializes in embroidered handbags and belts. She would like to invest in the purchase of wool and leather for her craft. She would also like to offer work to additional artisans from her community.
Joucelyn has been selling through NOVICA since 2010. This is her story:
"In 2008, I began to design and work hand-in-hand with skilled artisans. I absolutely love being a part of this work, which provides a living for many artisan families. It's also so fulfilling to discover and learn about these traditional arts that have been handed down from generation to generation."
"Thank you for your support by offering me the opportunity of this interest-free microcredit. I take pride in being involved in this type of work, especially because it benefits artisan families here in Huanta. It also means we get to show the world the magnificence of Peru's traditional arts. There is a great diversity between the textile arts of my country's coastal and mountain regions, and this is a constant source of inspiration for me to continue developing professionally."
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.