Gisella designs and crafts leather handbags. She would like to buy raw materials and components to be able to create new designs.
Gisella has been selling through NOVICA since 2011. This is her story:
"I've always had an inclination towards creating things, and I like handicrafts. Several years ago, I began making soaps and candles, and I enrolled in craft classes every chance I had. In 2009, I decided to study jewelry crafting. Later, I studied designing purses and wallets. My greatest challenge has been getting ahead as a woman in a field that has been mostly dominated by men."
"When I design my handbags, I want women to fall in love with them and use them all the time. Thank you so much for your support. I appreciate your confidence and want to thank you all for helping me achieve my dream."
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.