Yan Fredy is a Peruvian artisan who specializes in handcrafted silver and gemstone jewelry. He would like to purchase silver for his jewelry designs as well as some new tools for his workshop.
Yan Fredy has been selling through NOVICA since 2012. This is his story:
"My father designs and crafts jewelry, and he taught me to love the art of silver. I always loved being in his workshop with him. The old designs, with their infinite forms, icons and the techniques used by our ancestors… these are very interesting and special, due to our country's history and what this means for us Peruvians. The new designs have the versatility and perfect craftsmanship of a piece of jewelry. We must always seek innovation."
A message from Yan Fredy: "I'm grateful for your collaboration in this wonderful opportunity you're giving me. In this way, I can increase my production and be ready for the holiday sales. My thanks to each and every one of you."
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.