Ruben and Gilda are a husband and wife team of artisans in Guatemala who specialize in jade jewelry. They would like to invest in the purchase of silver to increase production.
Ruben and Gilda have been selling through NOVICA since 2012. This is their story:
"Our story begins in a town near Antigua. Gilda grew up in a home of woodcarvers and I grew up in a family of silversmiths. We began our first steps as artisans while still going to school. We met when we were 16 years old, both very young and very much in love. We are artisans who work with our hearts, with dedication and love."
"It makes us very happy to know that you appreciate the value of our handcrafted jewelry, and we're grateful for your trust in us. Artisan work isn't really appreciated in our country, so we rely on looking for acceptance beyond our borders. In that way we get to preserve our traditional jewelry techniques. This microcredit is a much-appreciated opportunity for us, because we hardly have access to other types of credit, or else we can't cope with the high interest."
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.