Diah is a Balinese artisan who specializes in handcrafted jewelry. To increase production, she would like to invest in a bulk purchase of sterling silver.
Diah has been selling through NOVICA since early 2012. This is her story:
"I was born in Celuk, renowned for its silversmith legacy. When women get married here, we move to the man's house and follow what our husband decides. Luckily, my husband and his parents taught me to design and craft silver jewelry. My designs are a reflection of me and the beauty I find in life. Jewelry to me is about being a woman, and every woman wants to feel beautiful.
"I would like to express my gratitude to everyone who supports me with this microcredit. I will use it to buy more silver and help my business to grow."
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.