Sukartini is a Balinese artisan who specializes in silver and gemstone jewelry. She hopes to stock up on the materials she needs for production, such as sterling silver and gemstones.
Sukartini has been selling through NOVICA since 2005. This is her story:
"I am proud of my Indonesian heritage. My mother instilled in me the values of a 'Balinese woman,' including how to prepare temple offerings, because almost every day is a ceremonial occasion here. I took courses in other traditional art forms, but my favorite is silver. Today I work together with local silversmiths to promote Bali's beauty in our own way. We make different kinds of jewelry, mostly with sterling silver, in both traditional and modern styles.
"I would like to express my gratitude to all of you who fund this loan for my small silver craft business. This will help me to buy more material, which I hope will let me sell my work better and pay back the loan faster. 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.