Putu Gede is an artist and designer who specializes in handmade jewelry. He would like to invest in a bulk purchase of silver and semiprecious gemstones for his jewelry pieces.
Putu Gede has been selling through NOVICA since 2008. This is his story:
"I love to create something based on traditional styles and combine them with a modern look. I've come to realize the importance of having a skill, so I've made a point of offering free training in silversmith techniques. My hope is that by doing so, people in need will be able to earn a living and support their family.
I need some capital to increase my stock on hand. This microcredit is a great opportunity that will allow me to buy silver and gemstones. I am happy with this, because an increase in my sales will help me to give jobs to the people in my community. From that I can add more new designs, too, and add more jobs for artisans. I am grateful to you who support me with this loan, who support my business and all the people involved in working with me to produce my jewelry."
Use the link below to view Putu Gede's handmade jewelry 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.