Tuniyaton is a Javanese artisan who specializes in tooled leather handbags and accessories. She would like to invest in the purchase of leather to continue with her production. She has been selling through NOVICA since 2012. This is her story:
"My father died when I was born and mother did her best, but I only went to elementary school. I married and we had three children. A friend who sold leather inspired me to sell raw leather and leather goods. In 2011, I lost my youngest son to brain cancer. Life was so difficult. My first and second marriages failed. Now, my focus is on my children and the people who work with me, as well as designing and crafting leather goods. Both of my children are also involved in this venture, and I love seeing them continuing what I worked so hard to get started."
"I am so grateful for the opportunity to receive this microcredit to buy material. This will help me a lot to make my small business grow, and you will soon see my new products. Thank you for all your support; it means a lot to me and all the people who work with 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.