Dirga is a Balinese artisan who specializes in hand-carved sculptures. He would like to invest in a bulk purchase of wood in order to prepare a large stock of sculptures for sale during the holiday season.
Dirga has been selling through NOVICA since 2004. This is his story:
"Most of my family members are carvers, for it is a family legacy that has endured several generations. You could say I was born with a talent to carve, which I developed by merely observing my parents and relatives at work every day. My inspiration comes from Balinese customs and traditions. Competition is hard here in Bali, for there are many expert carvers, making the life of a carver a very uncertain one. It means that I must excel, so hopefully my sculptures will be welcomed.
"I work on my own, so the amount of products I can carve is limited and so are my sales. This microcredit will make it easier for me to buy larger amounts of wood and increase my stock. Every piece I carve with my own hands is done with love and happy thoughts. That is why I would like to thank you so much for your support."
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.