In 2009, GBF provided a loan to NOVICA to finance its expansion to Guatemala. In 2012, GBF committed an additional investment to help NOVICA expand and scale its regional operations, followed by another investment in 2015 to help the company build alliances with partner organizations to help them improve and operate their websites to increase their revenue; and for working capital. In 2016, GBF made another follow on investment to expand their partners program and to finance additional working capital needs.
In 2009, GBF committed a loan to NOVICA for its expansion to Guatemala. In 2012, GBF committed an additional loan to help NOVICA expand and scale operations, followed by another loan in 2015.
GBF BAS & NOVICA:
GBF’s BAS program has focused on improving operations in regional offices, product design, access to information by artisans, and financial management:Financial Management: Implementing a regional management reporting system Operations:
- Developing front tools to give visibility to artisans on the website.
- Developing back‐end tools to manage artisans’ inventory needs more effectively.
- Increasing and enhancing the artisan apparel collection.
- Improving the artisans’ furniture designs
- From January 2019 to December 2019, NOVICA positively impacted almost 20,023 artisans worldwide
- NOVICA directly connects artisans to international buyers
- NOVICA offers a stable market for artisans to organically grow and build stable businesses
- NOVICA designers work with the artisans to help them improve quality and adapt their products to fit new market trends, producing a dramatic difference in the artisans’ ability to sell and grow
Learn more about Our Approach to Measurement.