Rosario leads a women's cooperative known as To'ooneel Ixoq. They specialize in handwoven accessories and hammocks and would like to invest in a bulk purchase of raw materials, including string and natural dyes. Rosario and the team have been selling through NOVICA since 2010. This is their story:
"We are a group of hard-working, creative and enterprising women with a desire to improve the lives of our family and our community," says Rosario, who serves as president of the association. "Our mothers taught us to weave when we were only little girls, and they also taught us how to dye threads with natural pigments to protect our environment. In fact, that is our specialty – our weaves are done with cotton threads dyed with tree bark, leaves and fruits. We go by the name To'ooneel Ixoq, which in the Tzutujil Maya language means 'Feminine Development.' We are a very united team, and the most beautiful thing about being in this team is that we support each other, and we encourage members to create their own designs. Our dream is to one day have our own store and a community workshop, because at the moment we work from our own homes."
"I am very thankful to those who support us because it is very difficult to have enough capital this time of year to keep up with demand. With this microcredit, we will be able to invest in raw materials and continue working."
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.