Gusti is a Balinese artisan who specializes in handcrafted and painted wood dolls and decorative items. He would like to stock up on the wood he uses for his carvings, to increase production.
Gusti has been selling through NOVICA since 2003. This is his story:
"I was born to a family of farmers, and I worked after school to ensure my education. We were six children, so my parents could hardly invest in our education. I also took a part-time job finishing and adding color to art products. Since school, my artwork has always been admired. After I graduated from a technical school, a friend suggested painting on a piece of wood, and the result was very nice. I thoroughly enjoyed it and have been dedicated to this art form ever since."
"Thanks much to God and to all of you who are helping me with this micro-credit. With the money, we can buy wood and increase our production. With this, we hope sales will increase so my team can have a better income, and the daily needs of our families can be covered. It's good to help small artisans. Thank you for everything."
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.