Ewurabena specializes in handcrafted bracelets. She would like to stock up on materials such as wooden bangles and batik fabrics.
Ewurabena has been selling through NOVICA since early 2012. This is her story:
"Ewurabena is a Fante name that literally means 'Lady Abena,' and Abena is a name given to females born on Tuesday. My mother taught me how to sew and it came in handy when I had to put myself through school. I trained at a fashion school and I started designing and sewing clothes for men and women, using African wax print fabrics. I later developed a line of jewelry and accessories using swaths from the clothes I made."
"I would like to thank those who are contributing to this microcredit that will help grow my business. Your support is greatly appreciated."
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.