Adrian is a Peruvian artisan who specializes in silver and gemstone jewelry. He would like to invest in the purchase of gemstones and raw silver to continue production. Adrian has been selling through NOVICA since 2010. This is his story:
"In jewelry, I've found a medium of bodily expression. In the School of Fine Arts, I learned to express my ideas with a brush and oils. I can also do so through silver, gold and precious stones. I live in Peru doing what I love most, and I am passionate about jewelry. For me, each piece of jewelry is a work of art, and I'm a perfectionist as I create them. I hope you enjoy the quality and design of my art."
"I wish to thank everyone involved in this microcredit, because with it I'll be able to increase my production. I will also be able to work on new designs for all the wonderful women that enjoy wearing my jewelry."
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.