SELECT AN ARTIST
Choose from a list of artisans who are looking to expand their business and need your help!
MAKE A LOAN
Lend $10, $25, $50 or more through our simple, secure interface and make an artist smile
Once repaid, why not recycle the funds and make another loan? Your funds can impact many artisans over time.
Artisans are not charged any interest, making it easier for them to repay their loan on time.
MICROFINANCE - WHY LEND TO ARTISANS?
NOVICA CUTS OUT THE FINANCIAL MIDDLEMEN
In a climate where the world's most challenged entrepreneurs are subjected to painfully high interest rates, we've cut out all the financial middlemen and, in true NOVICA fashion, taken matters into our own hands.
We are proud to have launched the first-ever microfinance website where customers can purchase products and lend money directly to artisans, with loans at 0% interest!
GOOD FOR LENDERS
Providing microfinance to the very same artisans from whom we can also purchase gives us a a very strong feeling of connection.
Once repaid, you can lend again, withdraw your funds, or convert them into NOVICA online store credits. When converting loan credit to store credit, you earn a 15% bonus - giving you more funds to purchase from your favorite artisan.
GOOD FOR ARTISANS
Having access to microcredit with 0% interest is a real boost to the business of an artisan.
Their payback period is guided by their sales on the website, so if they have a slow month - their repayment for that month is less.
With extra funds, they now have the cashflow to purchase larger quantities of materials, and are able to produce more, and sell more.
In 2012 we became one of Kiva's official field partners - opening up our artisan microcredit program to almost 1 million lenders on Kiva's microfinance platform.
Running alongside the loans currently funded on our own website, this partnership means we are able to fund a larger number of artisans at a greater speed, and introduce more people to NOVICA artisans.