Emilio is a Peruvian artisan who creates decorative objects with dried mate gourds. He would like to invest in raw materials and supplies for his workshop.
Emilio has been selling through NOVICA since 2006. This is his story:
"I was born in Huancayo, Peru. This art is in my blood. It's something that is born from generation to generation, carried by a magical world toward natural materials. Through my own initiative and desire to learn, my eyes saw and my hands created. This is how I began in this wonderful world, trying to create and create."
"After I lost my wife to cancer, people from Novica called me to see how I was getting along. I was so happy to know they were concerned about me, and this inspired me to create a new collection with new and vibrant colors because there is nothing better than to smile and be always grateful to life. I was even more surprised when they told me I could obtain a loan to develop this new collection. I hope that with this assistance, I can get started again and show my abilities and those of my children. Many thanks for always keeping me in your thoughts."
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.