Ghanaian artisan Ernestina specializes in wood carvings. To strengthen production, she would like to invest in the purchase of larger quantities of wood. Ernestina has been selling through NOVICA since 2000. This is her story:
"I was born in the eastern region of Ghana and trained in dressmaking, but realized that the trade would not do well in my town. I therefore trained for three years as a wood carver, and began developing carvings on my own. Though carving has long been regarded as the preserve of men, I am glad that I have been able to not only infiltrate but also make an impact on the trade."
"Bless all those who assist me to enjoy a fruitful life through this interest-free microcredit. Through your support, I will be able to continue to produce more works, enabling me to pay for my children's education. 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.