Wahyu is a Javanese artisan who specializes in beaded batik bags. She plans to stock up on fabric and other materials to increase production.
Wahyu has been selling through NOVICA since 2012. This is her story:
"I work in Java's legendary batik art. I'm always keen to learn new things and new techniques. My family taught me that I must work hard to succeed in life. Now I am married and we have a lovely daughter. In my small batik workshop, I specialize in handbags, cushion covers and table runners, and add details with beads."
"Thank you for your support by funding this micro-credit. For a small artisan, this is really helpful to make my workshop grow. I really hope people like my beaded batik bags and want to buy them. By purchasing my designs, you help also to introduce Indonesian batik motif to the world. Thank you so much!"
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.