Gordon is an artisan from Ghana who specializes in hand-carved African masks and sculptures. He would like to buy raw materials like wood, polish, sandpaper, and wood stain for his craft business.
Gordon has been selling through NOVICA since 2000. This is his story:
"I was unable to finish secondary school because of economic limitations. After being taught how to carve by my brother, I moved to the city to seek new opportunities. After a while, I returned to my home city and established my workshop there, receiving indispensable moral support from my brother.
I am very grateful for your support through this microcredit loan. Thank you!"
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.