Nyoman is an artisan in Bali who specializes in hand-carved wood sculptures. He would like to hire additional artisans from his community to work with him at his workshop.
Nyoman has been selling through NOVICA since 2004. This is his story:
"My family has worked in wood for many generations, so my father taught my brother and me. Buddha, traditional, and abstract figures are my source of inspiration. Suar, hibiscus, ebony, and crocodile woods with natural finishes are my common materials. In order to make or create a new design, it takes me about one and a half months to refine my work little by little until I get the perfect design."
"At this time I need to hire additional carvers to help me prepare a stock for the holiday season. It's difficult to find good carvers in Ubud now, as I think we've lost many potential and talented carvers to construction work where they earn a better income than by carving. I am glad for this opportunity to get the microcredit; hopefully I can hire one good carver. Thanks for your support--it means a lot to me. I hope you also like my work so that we can preserve this art form and make it sustainable."
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.