Rolando and Luis are Peruvian artisans who specialize in the legendary style of Cuzco ceramics. They would like to increase their stock by investing in the purchase of clay and pigments in larger quantities.
Rolando and Luis have been selling through NOVICA since 2008. This is their story:
"Our parents taught us to appreciate the importance of Cuzco ceramic art from a very young age. We so wanted to help out that we would paint plates and offer them to our parents to sell, who instead treasured them. Our motivation comes from our admiration of Inca artistry and customs. Our compositions reveal the human aspect of this millenary culture. We describe this kind of work as art that breathes life into any setting."
"Thank you very much for this microcredit. Knowing that we can count on your support encourages us and inspires us to carry on. We will show you that we know how to make the most of this microcredit and we'll invest it wisely."
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.