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Fermin designs and crafts silver jewelry, including some pieces adorned with gemstones. He'd like to purchase silver in bulk and also develop new collections.

Fermin has been selling through NOVICA since 2005. This is his story:

"After school, back when I was young, I'd rush to my father's workshop to practice creating my own jewelry pieces. Design and craft jewelry was all I ever wanted to do. My designs are inspired by everything I see around me and by our ancestors' jewelry."

"I'm really excited about this opportunity. With the microcredit, I'll be able to design new collections, something I have been eager to do. I plan to buy the raw materials that are essential to my work, the most important of which is silver. Thank you very much."

Use the link below to view Fermin's jewelry on the NOVICA site:

Additional Information

Important information about Novica

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.

About Peru

  • $12,000
    Average annual income
  • 60
    View loans »
    Peru Loans Fundraising
  • $63,759,475
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,200 helped Fermin to purchase silver in bulk for his jewelry designs.
100% repaid
Repayment Term
10 months (Additional Information)
Repayment Schedule
At end of term
Aug 17, 2012
Jul 16, 2012
Currency Exchange Loss:
May 17, 2013