Salomon is a Peruvian artisan who specializes in handmade ceramic masks. He would like to invest in the purchase of ceramic and pigments, as well as to pay artisans' wages.
Salomon has been selling through NOVICA since 2000. This is his story:
"I am a self-taught artist, dedicating myself to ceramics since my youth. I specialize in masks influenced by the Vicus, Moche, and Nazca cultures. I focus largely on the mix of form and color: despite a lack of formal training, I have created a unique, personal style. I hope to improve my work with each passing day, and achieve a style that is gratifying for me and that will resonate in people's hearts and minds."
"I would like to express my profound gratitude to all of you for funding this microcredit. Thanks to these funds I'll be able to build up my stock and increase sales. Thank you very 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.