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Luisa
Luisa specializes in cotton accessories and apparel for men and women. She would like to expand production by adding more local weavers to her workshop, and she would like to purchase additional raw materials and supplies, including combs for the looms, leather, and threads.

Luisa has been selling through NOVICA since 2010. This is her story: "My story is really the story of my whole family, beginning with my parents. My father was passionate about growing cotton, a crop that originated with the Mayans. We work with only three pure colors. Apart from the crude cotton color, we use a seed known as ixcaco that produces brown cotton. We call our third color jade. All the rest of our colors are a result of combining fibers and threads from these three when weaving the fabric. I am thankful to be considered for this micro-loan, because it means I'll be able to offer work to women weavers from about 30 communities."



Use the link below to view Luisa's cotton accessories and apparel on the NOVICA site:
http://www.novica.com/artistdetail/index.cfm?faid=7298

Additional Information

Important information about Novica

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.

About Guatemala

  • $4,155
    Average annual income
  • 88
    View loans »
    Guatemala Loans Fundraising
  • $8,925,175
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,400 helped Luisa to purchase raw materials and supplies and to expand production by hiring additional local weavers for her workshop.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
At end of term
Disbursed:
Sep 27, 2012
Listed
Aug 27, 2012
Currency Exchange Loss:
N/A
Ended:
Sep 17, 2013