Anusara is a Thai artisan who combines colorful gemstones in handcrafted jewelry, often with floral designs. She hopes to purchase materials and also be able to pay assistants to help her.
Anusara has been selling through NOVICA since 2005. This is her story:
"I love crafting jewelry. I'd like to help conserve the natural world and the original Northern Thai culture that I love. I don't want it to disappear. I feel love and pride for all of my artwork. I'm proud of my designs, proud of creating them, proud to wear them and proud to sell them. In the future, I'd like to have a small shop of my own, in which to sell my jewelry."
"To create jewelry at a good price, I need to buy stones and accessories in bulk. In addition, I need to pay my assistants daily, even when I don't have enough orders to give them work at the moment. Thank you for your kind help with this microcredit."
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.