Check out some available loans that are similar to this one!
Luisa
Luisa creates fashionable apparel and accessories using the cotton grown by her family. She would like to purchase additional materials that complement her natural fabrics.

Luisa has been selling through NOVICA since 2010. This is her story:

"My story is really the story of my whole family, beginning with my parents. My father was passionate about growing cotton, a crop that originated with the Maya. We work with only three pure colors. Apart from the crude hue, we use a seed known as 'ixcaco' for the brown cotton. We call our third color jade. All the rest of our colors are a result of combining these three when weaving the fabric."

"I appreciate the opportunity this microcredit provides, as it will let us invest in materials to create new designs and increase the styles we can offer. This will benefit the women of 30 communities who work with us and make it possible for more of them to earn a living."

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.

Tags

About Guatemala

  • $4,155
    Average annual income
  • 68
    View loans »
    Guatemala Loans Fundraising
  • $8,754,075
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,500 helped Luisa to invest in new raw materials and expand variety of product designs.
100% repaid
Repayment Term
13 months (Additional Information)
Repayment Schedule
At end of term
Disbursed:
Nov 4, 2013
Listed
Oct 7, 2013
Currency Exchange Loss:
N/A
Ended:
Sep 17, 2014