Jennifer Nowicki’s early introduction to tea came at her Grandmother’s knee. She carries fond memories of drinking tea with Grandma following delicious homemade family meals. As a young adult, Jennifer discovered loose-leaf teas that developed her palate even more. In 2005 she enrolled in the Specialty Tea Institute in New York City and immersed herself in the world of tea. Jennifer had found her passion and became acquainted with owners of tea estates, tasted teas not available in the United States, and learned from the experts. Jennifer is the only Certified Tea Specialist in Wisconsin since 2009 and continues to pursue her education with the Institute.
Jennifer owned and operated a teahouse in Milwaukee for three years before relocating to Northeast Wisconsin. Having visited a plantation in South Carolina, witness the Japanese tea ceremony, saw the Korean women’s ceremony, and having enjoyed a samovar in Russia, her dream is to travel the world visiting plantations in India, China, Taiwan, and Japan. She has contacts with small farms in origin countries and gets many of her teas directly from them with a focus on procuring high-quality teas that are organic, fair trade and ethically sourced.
Jennifer says, “I’ve been lucky enough to sample many great teas and meet wonderful people on my journey. Now I want to share my knowledge and appreciation for a good cup of tea.”
– 30 years in the natural gourmet food industry.
-almost 25 years in the tea industry
– Avid gardener preferring local, organic, and heirloom varieties.
– Leadership team Eagles Heights Community Garden, Madison WI, one of the oldest and largest – organic community gardens in the United States.
– Graduated from the Specialty Tea Institute
Adding to basket
Funded
A loan helped increase my inventory, provide working capital, upgrade some equipment, and any left would be used t.
Jennifer's story
This loan is special because:
More about this loan
Business Description
Hello, my name is Jennifer Nowicki and I source loose leaf teas direct from the farms in origin countries and blend most myself. I am Wisconsin's only certified tea specialist from the Speciality Tea Insitute in NYC since 2009. I have a three-prong part of my business with online sales, wholesale, and a Pop-Up retail location. I am looking for a loan to help to get a permanent retail location and eventually want a tea room again. I have been in the tea business for 25 years. March 2019 I was one of eight people to represent the USA tea industry in two world conferences in China with the Chinese government paying the bill once I arrived in China. I was asked again in September 2019, but my Pop Up was opening less than a week after I would arrive home. For the last 7 to 8 years I have been invited by the Japanese government to events related to Japanese teas. Money really what I lack.
What is the purpose of this loan?
I am in the process of looking for a space to have retail and eventually have a tea room again. I would use $5000 to expand the inventory that I already have, $1000 would be used to fully update to a Square POS, $3000 would be used for upgrades to building and furniture, and $1000 for advertising for most of the first year
Loan details
Loan length:
Repayment schedule
Monthly: One repayment made per month
End of term: One repayment made at the end of the loan term
Irregular: Any other repayment schedule
To see a detailed repayment schedule for a specific loan, click the "Repayment schedule" link on the loan profile under "Loan details."
What is the disbursed date?
In the case of partner loans, many of our Lending Partners choose to disburse loan funds before the loan request is posted on Kiva. We allow pre-disbursal because it ensures that the funds reach the borrower as soon as they are needed. Loan funds from Kiva lenders then go to backfill that amount and as a lender you assume the risk of the loan. By doing this, our Lending Partners assume the risk that, if the loan isn't funded by lenders, they will have to fund the loan without any funds from Kiva.
If a partner loan is not pre-disbursed, it will be listed on Kiva with an expected "post-disbursed" date. If a post-disbursed loan is not funded on Kiva, there is a chance that the borrower may not receive their loan. Some Lending Partners choose to disburse loans with other sources of funding, while other partners don't have the resources available to fund loans without Kiva lenders' support. No direct loans will be disbursed unless they fully fundraise on Kiva.
Funding model
What does "Partner covers currency loss" mean & how could it affect my Kiva loans?
Potential for currency exchange loss is noted on every loan profile under the loan details:
"Yes" means the Lending Partner will cover any currency loss. Lenders will not bear losses due to currency fluctuation
"Partial" means that the Lending Partner has opted to cover losses only up to 10%. If the U.S. dollar appreciates more than 10% against the local currency, those losses will be passed onto lenders.
"No" means that the Lending Partner is not covering any currency losses and all losses will be passed onto lenders.
"N/A" means the Lending Partner disburses loans to borrowers in USD so their loans are not subject to any currency fluctuation.
Do Kiva borrowers pay any interest on their loans?
Our partners collect interest from borrowers because there are many operational expenses associated with microfinance in developing markets, especially in rural areas. Many of Kiva's Lending Partners also provide additional services alongside their loan products such as business training, financial literacy lessons, or health services.
Kiva will not partner with an organization that charges unreasonable interest rates, and we require Lending Partners to fully disclose their rates. In addition, we only partner with microfinance institutions and organizations that have a social mission to serve the poor, unbanked, and underserved.
There are some 0% interest loans on Kiva, including all direct loans in the United States. To learn more about the interest rates Kiva borrowers pay, you can review the "Average cost to borrower" field on a loan profile.
We also encourage you to read the following articles if you are interested in further educating yourself on the topic: Microfinance 101 (https://www.kiva.org/microfinance), Top 10 things to know about microfinance (https://www.kiva.org/blog/top-10-things-to-know-about-microfinance), Microfinance interest rates explained (https://www.kiva.org/blog/whats-up-with-microfinance-interest-rates)
What is a risk rating?
The Lending Partner risk rating reflects the risk of institutional default associated with each of Kiva’s Lending Partners. A 0.5-star rating means the organization has a relatively higher risk of institutional default, while a 5-star rating indicates the organization is at a relatively lower risk of default, based on Kiva's analysis and the available information displayed in the Lending Partner section of every loan. Lending Partners with the lowest credit tier undergo a lighter level of due diligence and do not receive a risk rating; instead, in places where a risk rating would normally appear, these partners are labeled as “Experimental.” For more information, see "What is an Experimental Lending Partner?"
Direct loans also do not receive a formal risk rating. Instead, these loans are approved through “social underwriting”, where trustworthiness is determined by friends & family lending a portion of the loan request, or by a Kiva approved Trustee vouching for the borrower. Direct loans will appear as "Unrated" and lenders should always assume these loans represent the highest level of repayment risk on Kiva.
How are loans facilitated?
Kiva loans are facilitated through 2 models, partner and direct, that enable us to reach the greatest number of people around the world.
For partner loans, borrowers apply to a local Lending Partner, which manages the loan on the ground. Lending Partners are responsible for screening borrowers, disbursing loans, posting borrowers to the Kiva website for funding, collecting repayments and otherwise administering Kiva loans on the ground to borrowers.
For direct loans, borrowers apply through the Kiva website and may or may not be endorsed by a Trustee. Unlike Lending Partners, Trustees don't handle any financial transactions or have any duty to repay loans on behalf of their borrowers. Instead, Trustees take the role of providing support and business advice to their borrowers throughout the term of the loan.
More information about successive and concurrent loans
Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Lending Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These additional loans are typically smaller than the borrower's primary loan and serve a different purpose. We trust our partners to determine whether a borrower has the means to be able to repay a successive or concurrent loan.
About Cultivate Taste
Lenders and lending teams
Country: United States
Trustee: Wisconsin WEDC Main Street
What are Trustee tiers?
For for more information about Trustee tiers, visit: kivaushub.org/trustee-tiers
Why are you endorsing Jennifer?
Jennifer was one the three finalists in the City and Harbor Centre Business Improvement Districtâs Popup Shop Initiative in 2019. A total of eleven popup applications were received as part of an open call for applications to the community. A local review team interviewed six semi-finalists and Jennifer and her shop called Cultivate Taste was one of the three finalists. Cultivate Taste is a loose leaf retail shop specializing in unique blends and tasting of teas. Cultivate Taste is currently in space that the City acquired for the popup shops in the Cityâs downtown on 8th Street and has been operating a retail shop since October 1 through December 31, 2019. I strongly endorse Jennifer for the Kiva loan as she will be a great retail shop in our downtown based on her knowledge as a certified tea expert. Chad
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Loan tags help lenders find loans that match certain areas of interest.
Loan details
Loan length:
Repayment schedule
Monthly: One repayment made per month
End of term: One repayment made at the end of the loan term
Irregular: Any other repayment schedule
To see a detailed repayment schedule for a specific loan, click the "Repayment schedule" link on the loan profile under "Loan details."
What is the disbursed date?
In the case of partner loans, many of our Lending Partners choose to disburse loan funds before the loan request is posted on Kiva. We allow pre-disbursal because it ensures that the funds reach the borrower as soon as they are needed. Loan funds from Kiva lenders then go to backfill that amount and as a lender you assume the risk of the loan. By doing this, our Lending Partners assume the risk that, if the loan isn't funded by lenders, they will have to fund the loan without any funds from Kiva.
If a partner loan is not pre-disbursed, it will be listed on Kiva with an expected "post-disbursed" date. If a post-disbursed loan is not funded on Kiva, there is a chance that the borrower may not receive their loan. Some Lending Partners choose to disburse loans with other sources of funding, while other partners don't have the resources available to fund loans without Kiva lenders' support. No direct loans will be disbursed unless they fully fundraise on Kiva.
Funding model
What does "Partner covers currency loss" mean & how could it affect my Kiva loans?
Potential for currency exchange loss is noted on every loan profile under the loan details:
"Yes" means the Lending Partner will cover any currency loss. Lenders will not bear losses due to currency fluctuation
"Partial" means that the Lending Partner has opted to cover losses only up to 10%. If the U.S. dollar appreciates more than 10% against the local currency, those losses will be passed onto lenders.
"No" means that the Lending Partner is not covering any currency losses and all losses will be passed onto lenders.
"N/A" means the Lending Partner disburses loans to borrowers in USD so their loans are not subject to any currency fluctuation.
Do Kiva borrowers pay any interest on their loans?
Our partners collect interest from borrowers because there are many operational expenses associated with microfinance in developing markets, especially in rural areas. Many of Kiva's Lending Partners also provide additional services alongside their loan products such as business training, financial literacy lessons, or health services.
Kiva will not partner with an organization that charges unreasonable interest rates, and we require Lending Partners to fully disclose their rates. In addition, we only partner with microfinance institutions and organizations that have a social mission to serve the poor, unbanked, and underserved.
There are some 0% interest loans on Kiva, including all direct loans in the United States. To learn more about the interest rates Kiva borrowers pay, you can review the "Average cost to borrower" field on a loan profile.
We also encourage you to read the following articles if you are interested in further educating yourself on the topic: Microfinance 101 (https://www.kiva.org/microfinance), Top 10 things to know about microfinance (https://www.kiva.org/blog/top-10-things-to-know-about-microfinance), Microfinance interest rates explained (https://www.kiva.org/blog/whats-up-with-microfinance-interest-rates)
What is a risk rating?
The Lending Partner risk rating reflects the risk of institutional default associated with each of Kiva’s Lending Partners. A 0.5-star rating means the organization has a relatively higher risk of institutional default, while a 5-star rating indicates the organization is at a relatively lower risk of default, based on Kiva's analysis and the available information displayed in the Lending Partner section of every loan. Lending Partners with the lowest credit tier undergo a lighter level of due diligence and do not receive a risk rating; instead, in places where a risk rating would normally appear, these partners are labeled as “Experimental.” For more information, see "What is an Experimental Lending Partner?"
Direct loans also do not receive a formal risk rating. Instead, these loans are approved through “social underwriting”, where trustworthiness is determined by friends & family lending a portion of the loan request, or by a Kiva approved Trustee vouching for the borrower. Direct loans will appear as "Unrated" and lenders should always assume these loans represent the highest level of repayment risk on Kiva.
How are loans facilitated?
Kiva loans are facilitated through 2 models, partner and direct, that enable us to reach the greatest number of people around the world.
For partner loans, borrowers apply to a local Lending Partner, which manages the loan on the ground. Lending Partners are responsible for screening borrowers, disbursing loans, posting borrowers to the Kiva website for funding, collecting repayments and otherwise administering Kiva loans on the ground to borrowers.
For direct loans, borrowers apply through the Kiva website and may or may not be endorsed by a Trustee. Unlike Lending Partners, Trustees don't handle any financial transactions or have any duty to repay loans on behalf of their borrowers. Instead, Trustees take the role of providing support and business advice to their borrowers throughout the term of the loan.
More information about successive and concurrent loans
Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Lending Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These additional loans are typically smaller than the borrower's primary loan and serve a different purpose. We trust our partners to determine whether a borrower has the means to be able to repay a successive or concurrent loan.
Trustee: Wisconsin WEDC Main Street
What are Trustee tiers?
For for more information about Trustee tiers, visit: kivaushub.org/trustee-tiers
Why are you endorsing Jennifer?
Jennifer was one the three finalists in the City and Harbor Centre Business Improvement Districtâs Popup Shop Initiative in 2019. A total of eleven popup applications were received as part of an open call for applications to the community. A local review team interviewed six semi-finalists and Jennifer and her shop called Cultivate Taste was one of the three finalists. Cultivate Taste is a loose leaf retail shop specializing in unique blends and tasting of teas. Cultivate Taste is currently in space that the City acquired for the popup shops in the Cityâs downtown on 8th Street and has been operating a retail shop since October 1 through December 31, 2019. I strongly endorse Jennifer for the Kiva loan as she will be a great retail shop in our downtown based on her knowledge as a certified tea expert. Chad
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