Marcos is a Peruvian artisan who specializes in handcrafted mirrors. He would like to stock up on the materials he uses to make mirrors, and also buy tools for his workshop. Marcos has been selling through NOVICA since 2004. This is his story:
"I am a self-taught artist who began to work at the age of 17 at a neighbor's workshop. After only a year, I decided to venture on my own, gradually gaining renown for the beauty and quality of my work. I have been dedicated to this craft for over 35 years but to me it feels like only yesterday when I began. Woodwork makes me feel good about myself because it's a way of preserving an aspect of Peruvian artistry.
"I'd like to thank all of you who are supporting this great work of making capital available to artisans so we can continue creating our art. Every day you inspire us as you make new opportunities possible. In my own case, I especially need this money to buy materials and tools, and to be able to meet the demands of the Christmas holidays. Again, I deeply appreciate your participation."
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.