Kenari is a Balinese artisan who specializes in silver jewelry. She has been selling through NOVICA since 2006. She would like to invest in more sterling silver to create new jewelry designs.
This is her story:
"I come from Celuk, famous for its gold and silversmiths, so I learned to design and craft jewelry from a very young age. In 2003, I married an artist from Gianyar and went to live with his family, like Balinese tradition dictates. However, I obsessed with crafting jewelry and fortunately, my husband understood."
"I am so grateful for the chance to get a micro-credit loan. This will help me to create more stock and also to prepare new designs. I am so thankful for all your support, and hopefully, you would like to collect the jewelry I make. It would also be wonderful if you'd recommend my jewelry to your friends and families. It will mean so much when my designs are known and worn by lovely people everywhere in the world. Thank you so much for your help in making my work sustainable."
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.