Salvador is a Guatemalan artisan who specializes in hand-carved wood sculptures and puzzle boxes. He would like to invest in the purchase of more granadillo wood for production.
Salvador has been selling through NOVICA since 2011. This is his story:
"My first carving was done with a tree root. I loved discovering images in the natural shape of the wood. I think what I like best about my work is how you can make any kind of figure from an ordinary piece of wood. Images from Maya art are the most difficult to do but they're prettier. It's interesting to work in an area that helps keep our culture alive, the culture of our Maya ancestors and all the animals of our land. Almost all of my carvings are puzzles."
"Dear friends, thank you so much for supporting individual artisans like me, because it's not easy to complete production. Thanks to well-intended people like you who offer microcredits like these, we're able to keep on working and provide for our families, our communities and our countries. Gracias!"
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.