Godfred is an artisan from Ghana who specializes in traditional African masks. He would like to invest in making improvements to his workshop.
Godfred has been selling through NOVICA since 2010. This is his story:
"Due to financial constraints, my parents could not further my education and so I had to drop out of school and join my uncle, who was a wood carver. I have trained about 30 people to carve and some of them have now set up their own workshops. I currently have five people working with me. In addition, some university students have spent their vacations with me as interns. Thanks to the woodcarving, I've been able to educate my four children and I know that with constant sales, I'll be able to give them a brighter future than I had. This motivates me to wake up each day to carve!"
"I pray that you receive Allah's blessings to enable you to continue supporting people like us with your microcredits."
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.