Israel, working alongside his family, weaves Zapotec rugs using traditional looms and natural dyes. He would like to purchase wool yarn and to be able to add more weavers to his workshop.
Israel has been selling through NOVICA since 2000. This is his story:
Israel and his family have been weaving Zapotec rugs for many generations.
"We purchase wool from a nearby farmer and we dye it with natural dyes," he says. "With your kind help, our family will be able to get ahead, and we will also be able to help support other families in our village. Thank you for believing in us!"
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.