Argentina and her husband Francisco are Guatemalan artisans who organized a foundation in memory of their daughter, where young people with disabilities could learn to create handicrafts. They would like to purchase materials such as paper, glue and beads to continue their work.
Argentina and Francisco have been selling through NOVICA since 2010. This is their story:
"Our daughter Nyla Eliza was born with hydrocephaly. She underwent several operations and as a result contracted meningitis, which left huge side effects and multiple disabilities. She passed away when she was 10 years old. In 1998 we founded Asociacion ADISA in her honor. What first began as a support group for parents and children with special needs has now become an association that provides education so that children can join mainstream schools. Youngsters adore making recycled paper crafts so they may eventually have a craft when they are too old to attend ADISA."
"Thanks to this micro-credit, we will be able to continue giving job training and work to disabled young people. Your generosity will help our project to continue growing and we are very grateful for your assistance. Thank 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.