José is an artisan from Guatemala, who specializes in handcrafted ceramic sculptures. He would like to invest in the purchase of supplies, including paints, varnish and brushes.
Jose has been selling through NOVICA since 2010. This is his story:
"My favorite thing to do is to create new designs and I love the challenge of crafting and painting them by hand. Each design is proof of the richness of our culture. Working with ceramics has brought me many beautiful things, from learning the craft from my mother and uncles, to providing for my family so that my four children can go to the university. I already have a grandchild and my wish for all of them is that they become independent people with a career of their choice. That they be responsible and be respectful of God."
"I would like to thank you all for your support through this microcredit, because I can continue crafting when I have a good stock of the necessary materials. Thank you very 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.