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Miguel
Peruvian artisan Miguel recycles metal pieces into sculptures. He would like to invest in new tools and equipment to design and shape his sculptures and also to increase the physical space of his workshop.

Miguel has been selling through NOVICA since 2007. This is his story:

"I'm a self-taught and impassioned artist. I was only 13 years old when I began to make my own toys. I used to tear apart other toys and use their components to create my own versions. That's how I got into making sculptures, but this time by recycling mechanical parts."

A message from Miguel: "With this microcredit I'll be able to continue working and developing as an artist, so thank you so much for your support."

Additional Information

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.

About Peru

  • $12,000
    Average annual income
  • 103
    View loans »
    Peru Loans Fundraising
  • $57,342,125
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $500 helped Miguel to buy new tools and equipment to design and shape his sculptures and also to increase the physical space of his workshop.
100% repaid
Repayment Term
12 months (Additional Information)
Repayment Schedule
At end of term
Disbursed:
Oct 23, 2013
Listed
Sep 25, 2013
Currency Exchange Loss:
N/A
Ended:
Aug 17, 2014