Eka is an artisan who specializes in wood carvings and masks as well as coconut shell sculptures. She would like to stock up on raw materials.
Eka has been selling through NOVICA since 2010. This is her story:
Eka is inspired by her children and family. "My children are my biggest motivation to work. I always keep my spirit up and go on strong for my children. Thanks to them I do not falter, and I am encouraged to develop new ideas and designs for sculptures."
"I want to express my great thanks for the microcredit. For me, your support is always motivating me to do better, improve my work, and develop my workshop."
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.