Alejandro is a Peruvian artisan who specializes in Peru's traditional retablos (dioramas). He would like to invest in the purchase of raw materials such as plaster, ceramic, plywood and paint.
Alejandro has been selling through NOVICA since 2002. This is his story:
"I create retablos – colorful dioramas unique to the Ayacucho region of Peru. Each tiny figure is shaped and painted by hand, and displayed in a delightful tableau. In every one of my works you can find the labors of my wife, who molds the characters, as well as that of my nieces and nephews, whom I currently teach. The customs and traditions of the Andean people emerge in every retablo.
Thank you all for supporting our crafts and promoting traditional arts through your microcredit. I'll be able to stock up on the materials I need to prepare for the holiday season."
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.