Ismael is an artisan who works under the artistic name of J. Blas and specializes in iron wall sculptures. He would like to invest in the purchase of larger amounts of iron sheets, as well as different fixtures and enamels in order to increase production.
Ismael has been selling through NOVICA since 2003. This is his story:
"I have always loved handicrafts. When I was 17, I started my own ceramic workshop, but I changed direction and began to work in wrought iron and blown glass. I experimented with sheets of iron to give my works more movement. We cut the metal sheets, hammer them into shape and weld them before treating to retard rust. Every piece created at my workshop goes hand in hand with originality, design and quality. We are always developing new designs and products."
"I thank you you for your interest in assisting us artisans, for our only desire is to work and provide for our families in a dignified manner. This interest-free microcredit means I can continue to develop those skills I inherited from my parents and grandparents, and use them in an art form that contributes to the embellishment of this wonderful world."
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.