Mario is a Oaxacan artisan in Mexico who specializes in handwoven Zapotec textiles. He would like to increase the physical space of his workshop and hire additional weavers from his community. He would also like to purchase new pedal looms, combs, nets, and bulk wool.
Mario has been selling through NOVICA since 2004. This is his story:
"I come from a family of weavers, it is a legacy I inherited from my great-grandfather. My aim is to preserve and promote the beauty of the Zapotec art. We dye the wool with natural colorants and we work on the pedal looms."
A message from Mario: "The only way to preserve the dignity of handcrafted arts is to get to know what artisans like me can do with their hands and creativity. I thank you for your support through this microcredit."
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.