Collins is a Ghanaian artisan who makes jewelry out of natural materials such as bone and horn. He would like to buy a drilling machine for his workshop, and stock up on the materials he uses for his designs.
Collins has been selling through NOVICA since 2012. This is his story:
"I was born into a family of artists and my father taught me to make jewelry using natural materials such as bone and horn. Right out of school, I joined the family workshop and worked with my father for eight years. I set up my own workshop when I married. I craft each bead by hand and use them in necklaces and bracelets. Although I now work independently, I still visit my Dad’s shop to share ideas on the trade and new techniques. I currently have a staff of two and have trained over six people who have moved on to establish their own workshops."
"I want to thank all of you who help fund this micro-credit. I believe it will go a long way to help me produce more 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.