Diego is an artisan in Guatemala who specializes in hand-carved wood art. He would like to invest in the purchase of cedar, mahogany and granadillo woods, as well as in replacing some tools in his workshop. Diego has been selling through NOVICA since 2011. This is his story:
"What I enjoy the most about my work is also my biggest challenge, creating new designs. Wood is a noble element, totally transformable, that gives you a lot if you know how to work it, treat it and take care of it. I remember with much gratefulness a companion in the first workshop where I worked. He took a lot of time to teach me things I never imagined possible to do with my hands. Now I spend some of my time teaching the young people who work with me."
"I thank you for supporting our type of work and our art; without it, we wouldn’t be able to promote our work and provide properly for our families. I appreciate your support by way of this microcredit so that we may get ahead in our work. Being able to purchase the materials and tools we need means the artisans at the workshop can continue their work and we can develop our creativity. May God bless you all!"
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.