Yuni is an artisan from Bali who specializes in batik [a type of cloth] and silk accessories. She would like to invest in the purchase of silk to stock up for the holiday season.
Yuni has been selling through Novica since 2006. This is her story:
"I learned the art of batik from my mother when I was very young. She has been making batik at home in Java for over 23 years, while waiting each day for my father to come home from the sea. We still design together, especially the floral and bird motifs that are typical in Pekalongan batik. My husband, Rieckey, also helps me a lot, but as a local Balinese woman, I'm very proud of the fact that I can have the career that I love and also provide for myself and my family."
A message from Yuni:
"I would like to increase my stock for the holiday season, so I am happy to be able to do it with this microcredit. Thank you for your support. Hopefully my stock and sales will increase! I would be so happy if any of my shawls were to hang beautifully from your shoulders."
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.