Alfredo is an artisan from Mexico who specializes in hand-woven Zapotec rugs. He would like to purchase wool, natural dyes, and new looms.
Alfredo has been selling through NOVICA since 2011. This is his story:
"I was born in Oaxaca and, along with my brothers and sisters, learned to weave from my parents. I was 12 when I created my first rug and I haven't stopped. I now have my own workshop. I believe the art of weaving Zapotec rugs is unique. My inspiration comes from everything I see around me – the landscapes, nature, people and animals."
"This microcredit will help me expand my workshop and increase production, as well as bring on more weavers. Thank 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.