Nyoman is a Balinese wood carver who specializes in masks and sculptures. He hopes to stock up on the materials he needs, such as various woods. He has been selling through NOVICA since 2000. This is his story:
"I was taught to carve by my brother. The traditional forms and poses are of strong beauty and fine workmanship, which inspired me to learn this style. My favorite themes to work on are characters in religious mythology, because they offer a variety of ways for an artist to express creativity and style. What I wish now is to continue upholding the values of those who taught and inspired me, while being able to continue taking very good care of my family and my woodcarving group."
"The microcredit loan will let us produce more and help my workshop grow. Your support also will let us offer work to other talented carvers. Thank you for your support and for the loan."
Important information about Novica
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.