Antonio is a Peruvian artisan who specializes in hand-carved furniture and home decor items. He would like to invest in the purchase of prime materials such as wood, lacquer and chalk, and also to employ specialized artisans from his community.
Antonio has been selling through NOVICA since 2005. This is his story:
'I live my life amid wood. I'd describe my work as life itself, and my existence together with it. When I was only 17, I created my first piece and it was an immense satisfaction. Art guides my hands in that moment of pleasure as I begin a design. My pieces are inspired by the olden times and reflect the style of vintage pieces. They transmit my love for life and for nature — its flowers, birds and all the rich flora and fauna of our country."
"Please receive a great big hug and my most heartfelt thank you for your microcredit. I feel very happy to know that you trust me. As artisans we sometimes go through hard times, and it's amazing to know that there are people out there offering their support without even knowing you. May God bless you."
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.