Working alongside fellow artisan Lucho, Manolo specializes in leather work. He would like to invest in a purchase of raw materials, such as leather, wood, and glass.
Manolo and Lucho have been selling through NOVICA since 2005. This is their story:
Manolo and Lucho come from families with backgrounds in art. "Our work is an artistic creation. We've worked together since 1994, and find it a source of great personal satisfaction. We both strive to transmit beauty and culture in every piece," say the artists. Manolo and Lucho break all preconceived ideas by combining a distinctive Peruvian look with the art of dedicated masters, all beautifully crafted by hand.
"To us, this microcredit means we can innovate new designs and be part of today's decor trends, while at the same time staying true to our essence and preserving traditional hand crafting techniques. 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.