Over $100,000 in Microcredit Raised!

When we started NOVICA, our dream was to connect artisans with customers all around the world. And by doing so, we hoped we could create a better way for artisans to sell their goods to customers worldwide. We had no idea if it would work, but it did!

Last year, when we launched our Artisan Loans, again we had no idea if it could work. Our goal was to give artisans an option for borrowing money because they really didn’t have any good options, unless they were willing to pay extremely high interest rates. But in our case, there wouldn’t be any interest at all – our lenders would get 0% interest and our artisans would pay 0% interest. Would people support it?

The answer was a resounding YES!

And so after almost one year of testing and improving the system, we set a lofty holiday campaign goal of raising over $100,000 in loans by last Sunday. That was a huge amount. Could it be done?

We’re excited and humbled to report that, because of you, we were able to raise these funds for artisans!

Now, they can purchase more materials and improve their stock of items in time for the busy holiday period. This gives them a vital head start, and ensures you get a wide choice of handcrafted treasures for your gift buying this season.

Here are the heartfelt words of NOVICA artisan Cerapio Vallejo, after he heard his loan was funded:

Novica has greatly impacted my life. When we first met I was working on my own, selling my tapestries and rugs at local markets. Now, thanks to Novica, my products go to different parts of the world, and I’ve also been able to move my family to a new house. 

But the achievement I am most proud of is that I’ve been able to train and offer jobs to people in my community. Many of them are now artisans in their own right, and others have opted to stay with me. 

Has anyone told you, dear Novica customer, that you have become a part of the history of our art?  That’s because you’re contributing to its preservation and growth, and through your comments we innovate. Nowadays my tapestries and rugs have with them a part of you.


Thank you all for your incredible support!

To benefit more artisans like Cerapio you can make a microcredit loan on the Artisan Loans page

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5 years ago

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