Cesar is a Peruvian artisan who creates beautiful sculptures with natural Andean gemstones. He plans to buy stones and other raw materials he needs to increase production.
Cesar has been selling through NOVICA since 2003. This is his story:
"I have worked as a stone carver since 1988. Of my four children, my oldest girl shows the most interest in my art and even assists me. I work with serpentine, rose manganese, calcite, celestite, red jasper, mottramite, chrysocolla, rhodochrosite and quartz. I work in stone because of the beautiful things that can be made with each kind. I like stone's naturalness and purity of color."
"To all of you who are assisting me with this loan, I send you blessings. You are helping make it possible for me to increase my sales and provide a better future for my children, which is my greatest desire. 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.