Henry Anthony is a Balinese artisan specializing in sterling silver and leather jewelry. He would like to invest in the purchase of larger amounts of sterling silver to continue production of his crafts.
Henry Anthony has been selling through NOVICA since 2009. This is his story:
"I studied in the United States and traveled to Japan and Europe. Jewelry is my passion, and my work let me gain experience in jewelry design and crafting. I moved to Bali in 2002 and established my own workshop. My collections are influenced by my Indonesian surroundings and my admiration of Japanese artistry. Designing jewelry for men has become part of my lifestyle.
I wish to thank you for assisting me with this microloan. It really helps my financial situation, and I'll be able to create new pieces in time for the holiday season. Thank you very much for your support."
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.