Gerardo is a jewelry artisan from Mexico whose silver jewelry is highly detailed, much like miniature sculptures. He would like to purchase raw materials as well as a larger vacuum pressure casting machine of greater capacity than the one he has.
Gerardo has been selling through NOVICA since 2011. This is his story:
"My encounter with the world of jewelry happened by chance when a friend invited me to work with him. In this fertile field, I found a way of self-expression. I work with the techniques I developed on my own to create silver jewelry and miniature sculptures in great detail. Mexico's rich cultural legacy is a great source of inspiration, from the pre-Hispanic cultures such as Olmec, Toltec, Maya and Aztec to new and contemporary artistic manifestations, such as regional music and dance and religious celebrations. I feel so proud of my roots."
"I'd like to thank you for your support with this microcredit loan, and for your interest in motivating the creativity of artisans like me. 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.