Kobina is a Ghanaian artisan who specializes in designing hand-carved African masks. He would like to invest in the purchase of wood and metal plates for production.
Kobina has been selling through NOVICA since 2012. This is his story:
"My father painted, and I also have a flair for drawing and painting. This makes designing masks something that comes naturally to me. What I did to hone my skills was to visit art workshops where I could observe artisans. I was so eager to learn more, that I got a raw mask and started to make designs and paint it with acrylics. The outcome was very good, and that is how I started in this art form.
"I count myself lucky for having the opportunity of this microcredit to enhance my business. I am very grateful to those who contributed."
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.