Marcos is a Peruvian artisan who specializes in handcrafted wall mirrors and decor. He would like to stock up on the materials he uses for his mirrors, such as wood, paints and bronze leaf.
Marcos has been selling through NOVICA since 2004. This is his story:
"I am a self-taught artist and I began to work at the age of 17 at a neighbor's workshop. After only a year, I decided to venture on my own, gradually gaining renown for the beauty and quality of my work. I have been dedicated to this craft for over 35 years and to me it feels like only yesterday when I began. Woodwork makes me feel good about myself, because it's a way of preserving an aspect of Peruvian artistry."
"We ask for blessings and positive energy for you who are helping us. Sometimes we don't have the cash to invest in materials to restock the mirrors that are sold. We want to get ahead, but sometimes a person needs a hand up. Thank you so much."
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.