Adriana specializes in handcrafted silver and gemstone jewelry. She would like to invest in the purchase of fine silver to continue production.
Adriana has been selling through NOVICA since 2006. This is her story:
Born in Italy, Adriana has lived in Peru most of her life. "I began designing and crafting jewelry as a hobby, something to do in my free time when not looking after my daughters. But it snowballed and today I dedicate all my time to this craft."
"Thank you very much for this microcredit. As always, you can be certain the jewelry I craft is done with the utmost dedication to quality and, most especially, that it is crafted with loving care. Many thanks, and may God bless 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.