Ubaldina and her family are ceramic artisans who specialize in Cuzco-style pottery. She would like to invest in the materials they use so that they can increase production.
Ubaldina has been selling through NOVICA since 2000. This is her story:
"Our family's journey in the ceramic arts has been influenced by the customs and lifestyles of my village, a village of ceramic artisans. We dress our jars and decorative plates in beautiful designs from ancient Peru. Each carries the powerful, elemental mystery of water and earth. In our home-based workshop we also teach other ceramists in our tradition and many have stayed to work with us."
"To all of you who have helped fund this microcredit, I would like to send you a thousand blessing from my whole family. Many thanks for your wonderful support."
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.