Desak is a Balinese artisan specializing in the traditional art of batik. She would like to invest in the purchase of textiles and batik dyes to increase production in time for the holiday season.
Desak has been selling through NOVICA since 2000. This is her story:
"I learned how to make batik from another artisan in my community in 1989. When I worked with her, she taught me many things about textiles and hand-painting batik. In March of 2000, I started my own workshop. I have built my career step by step. I started by asking my neighbors to come to my place to look at my collection and place orders if they liked it. Now, there's so much to do I need the help of several assistants!"
"Thank you so much for your support through this microcredit. I hope you will like the design of my batik robes, whether it is for you or for the ones you love."
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.