Olimpia and her husband Pepe are Mexican artisans who specialize in creating copper vases, wall art and home décor. They would like to invest in the purchase of raw materials, including copper, paint and enamels. Olimpia has been selling through NOVICA since 2006.
This is her story: "Our families have worked with copper for generations now and we've been around it all our lives. That’s how we learned to create utilitarian and decorative objects from this noble metal. We design and craft casseroles, vases, bells and more. We sometimes apply a layer of gold or silver to make it more beautiful. The love and constancy we put into our work as a couple have yielded incredible fruits as we show the world a bit of our beloved state of Michoacán."
"We thank you for your interest in our art through this microcredit. Above all, thank you for your trust in us."
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.