Edmundo is an artisan who specializes in the traditional Peruvian art of reverse painted glass. He would like to invest in the purchase of raw materials such as high quality wood and glass to expand production of his mirrors and jewelry boxes.
Edmundo has been selling through NOVICA since 2004. This is his story in his words.
"I inherited my interest in art from my mother, a weaver," he says. "As an adolescent, I enjoyed painting and liked to create cartoons as a form of social protest, when terrorists threatened our land. Now I specialize in painted glass and crackled finishes, a technique that is both traditional and modern. My themes include pre-Hispanic, colonial and ethnic as a tribute to the beauty and culture of the Andean world and its wildlife."
"I admit to being an admirer of Peruvian colonial art, and I love being able to express my passion through a traditional art form such as reverse painted glass," he says. "It allows me to capture the colors, shapes, and silver and golden glimmer that is characteristic of this art form. The fact that my products may be arriving at people's homes around the world is very exciting, and all I need to do is to continue crafting items inspired by something I already love to do – what a blessing! I would like to thank you for the opportunity that this interest-free micro-loan provides."
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.