Marco is a Peruvian artisan specializing in steel art, including sculptures and home décor. To continue production, Marco would like to invest in the purchase of larger amounts of steel, as well as the varnish he uses to prepare the steel prior to sculpting.
Marco has been selling through NOVICA since 2006. This is his story:
"From the time I was a boy, I was inclined toward design. As a teenager, I studied maintenance mechanics and what I learned there enabled me to work and to depict my own ideas in metal. My specialty is working in cold metal. I try to make the most of materials that others usually discard. Nothing is junk – I can use everything. I like to put aero-spatial details into my work, and I also like to use Inca iconography. I want my work to be different, distinct from what you'd usually find."
"I would like to thank you all for supporting my art through this microcredit. This is a great motivation to continue developing new designs that offer a captivating touch in your home."
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.