Raul is a Peruvian artisan who specializes in hand-woven tapestries. He would like to invest in the purchase of alpaca and sheep wool, his principal materials for production.
Raul has been selling through NOVICA since 2000. This is his story:
"After secondary school, I dedicated my energy to painting, finally cultivating the latent talent and skills of a self-taught artist. My father taught me to weave in the San Pedro de las Cajas style. I love to paint, and I love to weave. They are both forms of expression, and often after I explore a theme in my weavings, I will repeat them on the canvas. I sign my pieces after my second name, Angel."
"Thank you all so much for this microcredit - it's a great incentive for us artisans to keep developing our craft."
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.