Wilson is an artisan in Ghana who specializes in carving traditional masks. He would like to invest in the purchase of more local wood and polish.
Wilson has been selling through NOVICA since 2004. This is his story:
"I became interested in Ghanaian African carvings when I was a child, so after middle school I learned the trade through a man named Mr. Akoffour. Now I have my own workshop and am training three people. I carve different types of masks and each of them has a meaning. My products are unique and my goal is to create more."
"I thank you all for contributing to this microcredit. It will help me keep in business doing what I love."
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.