You can earn a 15% bonus on your Available Balance from your Artisan Loan account when you use it to purchase products on the Novica.com website. At the Novica checkout, you'll be given the option to 'cash in' your new Bonus Balance, and use it towards your purchase!
Example:
| Your Available Balance: | $250.00 |
| Your 15% Bonus: | $37.50 |
| Your Product Credit at Checkout: | $287.50 |
You can use your Product Credit when you use it for retail product purchases on the Novica.com website. Your 15% Bonus does not apply to gift cards or new loans.
0% Interest for artisans.... are we crazy?! It sounds too good to be true, but this concept is only made possible by our unique ability to cut out the financial middlemen. In addition to dispatching all customer orders, our regional offices across the world can now also serve as disbursement centers for Artisan Loans, providing artisans direct access to the credit they need to grow their businesses.
Also, If we're receiving 0% funds from customers and lenders, we feel we should charge 0% to our participating artisans. Our economic incentive is for each artisan to grow their business and be successful.
great reasons to lend:
- Helping artisans succeed is a good feeling!
- Helping artisans preserve ancient techniques enriches future generations.
- Earn 15% bonus if you spend your repayment at Novica.com learn more
- Artisans are charged 0% on their loans learn more
- An Artisan Loan can be withdrawn or re-lent as many times as you like
Welcome to Artisan Loans!
Over the last decade, Novica has impacted many thousands of lives by connecting artisans in developing nations to the global marketplace. We now want to increase our impact and further help artisans expand their businesses by providing access to microfinance.
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, we’ve 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!
0% Interest.... are we crazy?! It sounds too good to be true, but this concept is only possible due to the presence of Novica offices in each of our regions. In addition to distributing all customer orders, these offices now also serve as disbursement centers for Artisan Loans, providing artisans access to the credit they need to grow their business.
Nengah Sudarsana
Hand-carved wood art - Bali and Java
I work with talented, skillful people from my neighborhood and this mircrocredit will help me secure their salaries and continue working together. We would like to increase production and for that we need plenty of good quality materials so that we can ll keep working, and that is how I plan to use part of this mircrocredit.
