Anna is a Ghanaian designer specializing in hand-carved wood art. She would like to invest in the purchase of wood, aluminum plate, and polish for production.
Anna has been selling through NOVICA since 2011. This is her story:
"I got the opportunity to work as an art vendor and developed an interest in arts and crafts. I sketch the designs on paper, then work closely with skilled artisans as they do the carving. I love that there is no waste of wood. Every small piece of wood can be used to create small creatures. I have trained two people and now provide jobs for ten artisans. My design work helps me pay for my children's education."
I will use this microcredit to craft new items to increase my workshop's production. I thank the contributors for thinking about me."
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.