The son of a ceramics pioneer in Bali, Putu Oka creates handcrafted ceramics. He would like to invest in a bulk purchase of raw materials.
Putu Oka has been selling through NOVICA since 2001. This is his story:
Putu Oka inherited his love for ceramics from his mother, Made, who pioneered Balinese ceramic artistry in 1980. At first, she undertook the entire design and crafting procedure by herself and developed a reputation for fine design and high quality. In 1990, when his mother passed away, Putu Oka took over her workshop and eventually opened a showroom in her memory. The award-winning designer finds inspiration in the luscious flora and fauna of Bali.
"I want to express my gratitude to all of you who have supported us with this microcredit. This is a really good program that can help the small workshop to improve and develop. It will also let us create more and, hopefully, sell more. 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.