Made is an Indonesian artisan who crafts beautiful Balinese-style silver and gemstone jewelry. She would like to invest in silver and gemstones for her designs. She has been selling through NOVICA since 2002. This is her story:
"I come from a village long renowned as Bali's center of silver production. My father was one of the senior silversmiths, well-trained in the jewelry arts. He taught me from when I was 12 years old until I got married. Though I graduated in anthropology, I decided to set up a workshop with my husband. We are able to offer employment to more silversmiths in our village, and we specialize in traditional motifs and designs."
"I am so happy and want to say many thanks for helping me improve my work and better our lifestyle. The microcredit loan is really helpful to be able to increase our production. I appreciate this so much!"
Important information about Novica
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.