Ketut is a Balinese artisan who specializes in hand-carved wood chess sets and relief panels. He hopes to stock up on the materials he needs for his hand-carved artistry.
Ketut has been selling through NOVICA since 2000. This is his story:
"Ever since I can remember, all I really wanted to do was to make chess tables. It's always our dreams and our belief in life that give us the best results, no matter how difficult the dream or how sore our feet get during the journey. The master carver who taught me encouraged me to be creative and I got the idea to create chess sets, not only in the Western style, but also in one that reflects Balinese culture.
"I need capital to buy wood for my chess sets and game sets. I want to offer my thanks for all the effort and support that you give to me, so my workshop can grow and I can give work to others. God bless you for all your help."
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.