Zandra is a Guatemalan artisan specializing in handcrafted jade jewelry. She would like to invest in the purchase of jade and silver to increase production.
Zandra has been selling through NOVICA since 2011. This is her story:
"The first thing I ever made on my own was a pair of silver earrings. My husband taught me so I could help him. As I saw the jewelry I had been crafting and saw how beautiful it was, I felt happy. It has not been easy getting established as an artisan because silver is very expensive and it's difficult to purchase. But when you set your own mind to it, you can achieve your goals. I like to work with jade because it is a sacred stone for us Maya people. Jade used to be worn as an amulet, and those who wore the most jade pieces where considered to be the most important people in the community. Retaining the value of our traditions is always important."
"To me, this microcredit is an opportunity to develop new designs and afford the materials needed to craft them. Thank you so 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.