Kwadwo is a Ghanaian artisan who creates hand-carved wood items, such as masks and sculptures. He would like to stock up on wood, polish and sandpaper for his wood carvings.
Kwadwo has been selling through NOVICA since 2013. This is his story:
"I developed a love for carving at a tender age. My late uncle was a very skillful carver. I used to sit with him at his workshop to observe how he went about his carving, when I returned from school. I just loved the beautiful items he carved along with other carvers at his workshop. He would sometimes give me pieces of wood to try my hand at sandpapering and I worked with him for 15 years. Before he passed on, he handed over his workshop to me and, since then, I have continued to produce quality items just as I was trained. It took hard work, determination and consistent practice to become a master of this art. Now I train people."
"I will be very thankful to all of you for helping me get money to produce my designs. Thank you so much!"
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.