Wahyu is a Balinese artisan who makes handcrafted batik handbags and totes. She would like to buy fabric, beads, and materials in quantity for her handcrafted batik handbags.
Wahyu has been selling through NOVICA since 2012. This is her story:
"I work in Java's legendary batik art. I'm always keen to learn new things and new techniques. My family taught me that I must work hard to succeed in life. Now I am married and we have a lovely daughter. In my small batik workshop, I specialize in handbags, cushion covers and table runners, and add details with beads. My products might take longer to finish because of the hand-sewn beaded details, but I am always satisfied with the end result."
"I need capital to order batik and beads for my designs, and I got this chance to request a loan from you. What a nice surprise and a big help for me! Thank you so much for your support and trust. With the holidays coming, I hope that sales will increase. This will help me to build my small home business."
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.