Evelyn is an artisan who specializes in traditional West African masks. She would like to invest in a bulk purchase of raw materials such as wood, metal plates and paints.
Evelyn has been selling through NOVICA since 2008. This is her story:
"My greatest inspiration is to preserve our rich cultural heritage. Initially, I wasn't using a lot of different materials, but now I use recycled glass and glass beads, aluminum, brass and more. I sit and draw a mask creatively, and come up with the colors that will make it stand out."
"I believe that this microcredit will help me create a bigger stock of products and increase sales. My sincere gratitude to all of you for participating in the funding of this microcredit."
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.