Alberto is a Peruvian artisan who specializes in alpaca accessories. He would like to invest in the purchase of larger amounts of alpaca and cotton to be able to try out new designs.
Alberto has been selling through NOVICA since 2010. This is his story:
"I feel very proud to be able to contribute to the development of my country as I work with more than 20 artisan associations. Working on traditional handlooms, their craftsmanship is impeccable and of the quality required by the international market. We want to preserve the traditions that began hundreds of years ago during the days of the Inca Empire. We use natural fibers such as alpaca wool, baby alpaca, silk, and others. What I've learned about textile arts comes from my mother, who learned from my grandmother, and in this way, the knowledge has been handed down from generation to generation in our family. I've been privileged to show our designs throughout Peru and South America. I've also been able to give craft classes to the men, women and young people who want to learn all the beautiful techniques we use. Today, our people are master artisans recognized throughout Peru, and we share our knowledge with everyone who has a real desire to learn and progress."
"Thank you very much for this microcredit -- if it weren't for you, we wouldn't know where to go. It is good to know we can count on you for your support and guidance."
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.