Rendah is an artisan from Bali who specializes in hand-carved sculptures. He would like to invest in a bulk purchase of raw wood.
Rendah has been selling through NOVICA since 2000. This is his story:
Rendah's father began teaching him to sculpt when he was a young boy. "Balinese woodcarving touches me very deeply. I have learned a variety of arts in Bali, such as gamelan dance, but carving a piece of wood gives me an incomparable sensation. After I finished school, I studied further because I needed more experience, and the tools and materials I needed were beyond my financial reach. Exploring the abstract world refreshes my mind in creating new carvings."
"Thank you, thank you, thank you! Your support through this microcredit means a lot to me because I can increase my work. I hope you'll like my sculptures, too."
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.