Rocio is a Peruvian artisan who specializes in handcrafted wood and leather furniture and mate gourd decor. She would like to invest in materials and also to hire assistants to help create her pieces.
Rocio has been selling through NOVICA since 2000. This is her story:
"Although I have taken courses in artistic design, I consider myself self-taught, since I have learned more from practice over the years. My work strives to show the inherent goodness of artisan labor. I enjoy sharing and teaching something of our own culture. I've formed a small working community of artisan families. Apart from working with gourds, I also design unique home furnishings that focus only on natural materials."
"I'd like to say that I am most grateful for all this support. Thanks to this microcredit, we can create more stock and constantly increase our sales. Thank you so much! I send you a heartfelt hug."
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.