Nii Noi is a Ghanaian artisan who specializes in traditional hand-carved masks and sculptures. He would like to invest in the purchase of wood, potassium, calico and other fabrics to increase production.
Nii Noi has been selling through NOVICA since 2000. This is his story:
"I specialize in the carvings of antiquity. My collections are purely African, concentrating on West Africa and Central Africa, Congo in particular. These areas are heavily influenced by the spiritual power of objects, especially fetish items. I restore collected antiques, as well as create new carvings."
"I am so grateful for your support. Please believe that by granting me this microcredit my business will grow significantly."
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.