Novica is an online marketplace that enables artisans around the world to sell their goods directly to global consumers. Eliminating the middleman ensures a better profit for the artisan and a better price for the consumer -- a win-win.
For the last two years, Novica has offered loans to artisans who need capital to grow their businesses. These zero-interest loans, ranging from $150 to $2,900, are funded and repaid to online lenders who can then re-lend their funds. Sound familiar?
You can see why Kiva is a natural partner for Novica, helping to expand this important loan program. These loans will give Kiva lenders the unique ability to buy goods produced by the entrepreneurs they support, further deepening the lender-borrower connection.
This unprecedented partnership brings new meaning to empowering creative entrepreneurs. To support the ebb and flow of artisans' revenue streams, we have established more flexible loan terms that allow borrowers to build inventories, hire employees and set up shops. By giving artists the financial support and market access they need to grow, you can help preserve cultural traditions and encourage creativity while maximizing their income.
We have always been inspired by the Internet's power to bring people together. Now, through Kiva and Novica, you can be a consumer and financial supporter for entrepreneurs and small businesses in Indonesia, the Andes, Mexico, Brazil, Central America, India, Thailand, and West Africa. Like Bharti Dayal, a painter in Delhi, India: