Rendah is an artisan who specializes in wood sculptures. He is requesting this loan to make a bulk purchase of wood and other materials. He has been selling through NOVICA since 2000, and this is his story: "Balinese woodcarving touches me very deeply. I have learned a variety of arts in Bali, such as gamelan dance, but carving a piece of wood gives me an incomparable sensation. After I finished school, I studied further because I needed more experience, and the tools and materials I needed were beyond my financial reach. Exploring the abstract world refreshes my mind in creating new carvings. I am grateful to all of you who support me with this microcredit. I need this loan to buy the wood and materials needed to prepare new stock. I feel each of you is part of my family and happiness, and I hope you will always be happy."
Use the link below to view Rendah's wood sculptures on the NOVICA site:
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.