Marco is a Peruvian artisan who specializes in metal art for decor as well as function. He would like to purchase tools and a polishing machine for his workshop.
Marco has been selling through NOVICA since 2006. This is his story:
"From the time I was a boy, I was inclined toward design. As a teenager, I studied maintenance mechanics and what I learned there enabled me to work and to depict my own ideas in metal. My specialty is working in cold metal. I try to make the most of materials that others usually discard. Nothing is junk – I can use everything."
A message from Marco: "Thank you all for taking part of this microcredit, and for supporting artisans around the world. With these funds I'll be able get the tools I need to increase production, as well as to work on the new designs I have in mind. Thank you 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.