Fabiana is an artisan in Peru who specializes in handcrafted jewelry made with dried gourds and gemstones. She would like to invest in the purchase of sterling silver to expand production.
Fabiana has been selling through NOVICA since 2010. This is her story:
"I learned by watching my father at work as well as other artisans in my village. I enjoyed creating my own pieces and eventually I decided to be immersed in the wonderful world of jewelry. When I first started, I crafted small pieces with simple designs to gain practice and be able to earn and save enough to buy my own materials and tools. I began to work alongside my parents and relatives in 2001 but, now that I have my own family, I decided to become independent so that I could provide for them. I'm motivated by a desire to highlight women's beauty and personality through my designs and creations. I have the best job in the world and I give it my all: my patience, my love and my hard work. This art form is a way to express my ideas and the love that we feel toward it."
"Thank you all for taking part in this microcredit. It's of great support because it will allow us to craft more jewelry, which will increase our sales and in so doing allow us to continue developing as artisans and as a family business. Thanks to this, I will be able to provide for my children's future, so they may have the opportunities I didn't have. Many thanks!"
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.