Marco and his wife Debora (pictured at left) are Mexican artisans who specialize in dichroic art glass jewelry. They would like to invest in glass and silver for production. They would also like to invest in increasing the physical space of their workshop.
Marco has been selling through NOVICA since 2004. This is his story:
"Dichroic glass is an ultra-thin coating of metal oxides and quartz, grown as a crystal structure on the surface with a highly technical process. Originally produced for the aerospace industry, it now provides a medium for Our designs. Our work is the result of considerable research that we carry out together to create a rainbow of colors. They reflect our love of the art and of each other."
"We've enjoyed sharing our craft with the world so they can see what we can do with our hands. Thanks to you, this microcredit will permit us to make our workshop more spacious so the artisans who have joined us can have a more comfortable space to work. It's also important for us to stock up on our prime materials so it makes it easier to work on new designs and be more efficient in the use of our time."
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.