Rebecca Kousky is the founder of Nest, a nonprofit with a mission of giving microfinance loans to female artists in developing countries and an online artistic community.
Nest’s microfinance loans allow women to create and/or maintain small arts-and crafts-based businesses. Nest raises funds for loans via its online store. Nest sells clothing, accessories and home merchandise created by successful international artists and designers to discerning customers who want their purchases to make a difference.
ExpatWomen:Rebecca, tell us about your experience living overseas and where you live today? How did this experience influence you to start Nest?
Rebecca: I have had extensive experience working with women both internationally and in the U.S., but two experiences in particular shaped my vision for Nest. In 2002, I worked with Mayan Indian women in Chiapas, Mexico, on agricultural techniques to help them increase yields from small farms, thereby becoming more financially independent. In 2004, I traveled to Delhi, India, to volunteer at an NGO which provided education and training to children and adults afflicted with polio. Through these experiences and others, I was able to see firsthand the plight of women in developing countries who face hardships complicated by lower levels of education, lower social status and talents and abilities that do not always translate into productive employment. I observed that when women are given the opportunity to create their own businesses and earn a steady income, families are strengthened and communities are stabilized. Returning from my travels, I made my entrée into social enterprise in my hometown of St. Louis, MO.
ExpatWomen:Why this name?
Rebecca: I chose the name Nest for several reasons. I love the idea of the "nesting instinct:" that, universally, women have a compelling desire to create a sanctuary for themselves and their families, filled with objects of comfort and joy. Our eclectic line of merchandise reflects this: beautiful, affordable, one-of-a-kind specialty items for women and their homes. But more importantly, our loan program brings this promise to women worldwide.
But Nest is more than the objects each artist has created. It is also a place where women artisans across the globe come together to bring about lasting social change. From the designers, who create special objects, as well as donate their time and share their expertise, to loan recipients, who are now able to provide for their families, to facilitators, who arrange our microfinance loans in countries all over the world, to volunteers, who assist Nest in all its endeavors and to customers, who want their purchases to make a difference in the lives of women, Nest is virtual gathering place and an online artistic community.
ExpatWomen:How do you choose the women who will receive the loans? And when do they need to pay the money back?
Rebecca: We work with facilitators who live in the countries and communities where we operate. They help us locate and process each loan recipient. We provide loans that are used directly for the purchase of a specific item or to implement an idea that will allow our loan recipients to start or expand art- or craft- based businesses. For example, they can use the money for sewing machines, pottery kilns, rent for studio space, etc. Recipients may pay back the loan either by wiring money or in-kind, by providing merchandise they have created which we then sell on our website. This latter option allows women to access the western market and gives them flexibility in how the loans are repaid. Additionally, when we purchase an order, only a percentage of the order is used as repayment, so they have continual orders coming in.
Once loan recipients have been approved, we wire the money, but ask for accountability of its use. We want to make sure the funds are being used appropriately, but we also want to keep track of how the money has changed the lives of women and their families. Through their facilitators, we do follow-up for five years post-loan.
Most of the decisions about the loan, including how and when the money should be returned, is decided by the woman herself. I think this is what Nest is all about—helping women jumpstart their dreams by giving them the capital they need to become self-sufficient business owners. The choice of loans, as opposed to other forms of charitable giving, was intentional. By requiring that each woman be intimately involved in the process—from deciding how much to ask for (creating a business plan), what to use it for, the method and time frame for repayment, and actually being responsible for the repayment—Nest's microcredit loans encourage active participation in each step of the process and encourage self-sustainability.
ExpatWomen:Rebecca, how do you get successful artists and designers to sell their merchandise on your site? (Proceeds from these sales are used to fund the loans-- http://shop.buildanest.com/collections/shop)
Rebecca: We are lucky and have had wonderful press, so artists and designers now find us! It is also a wonderful win-win, because we allow our designers to donate to a cause that supports women like them—who just happen to be slightly less fortunate. Further, Nest designers not only offer exclusive merchandise for sale, with the proceeds used to fund loans, many have also agreed to advise loan recipients on building their businesses. In this way, Nest is a worldwide network of artists helping artists (and largely women helping women).
ExpatWomen:What are some of the challenges you have faced running Nest?
Rebecca: There honestly have not been too many! I am surrounded by a great support network of friends and family and the Nest team is amazing. We face small challenges each day, but we try to get through them one at a time. Maybe one of the biggest challenges has been being too strict with myself. As any entrepreneur can attest, starting a business is an emotional roller coaster. I try to learn from my mistakes, but I also try to keep things in perspective, and above all, to see and appreciate each new learning experience. I am dedicated to my work to the point of obsession, but I also try to enjoy the journey.
ExpatWomen:Please share with us some of your success stories.
Rebecca: Our first loan recipient was a woman named Meral Tuncer, who lives in Izmit, Turkey. She received a Nest microfinance loan to grow her jewelry business by being able to purchase higher quality stones and beads that will allow her to reach new clientele at the bazaar.
Our facilitator in Turkey is Nest designer, Rose Deniz. Rose once told me, and it made me cry, “when we told Meral how much she was going to make from the earring order, she was so happy. (C)ombine that with the loan, in one week she’s making more than she might make in a month. You can imagine her excitement! Thanks does not express it enough.”
But I think Meral's own testimonial speaks most clearly. She wrote: "At the bazaar, I have my own table where I display my goods. I want to stop selling at the bazaars because people do not appreciate quality things. I spend a lot of time setting up my table and am there all day. It is my dream to open my own store where I sell beads and my own jewelry. The Nest loan will help me to create more variety of jewelry with more materials, better sales because I won't only be displaying my jewelry at bazaars, and create a start towards achieving my dreams."
ExpatWomen:Rebecca, any big plans in the future for Nest?
Rebecca: Yes, within the next year we would like to launch a wholesale interior design line created by our loan recipients. This line would be marketed in the U.S. and would allow our women to have stable income. It would be in addition to the microlending services we already provide. We also hope to expand the services we offer each woman to include more intensive training on personal finances, business assistance and product development.
ExpatWomen:What are your Top 3 Tips for women who want to help women in their local communities
Rebecca:
Consider using it as a way to learn the language. By getting involved locally, you can have those you are helping teach you!
Include your family. Volunteering as a family allows you to spend more time together and teach your children the importance of giving back.
Don’t wait to get started. Your “to do” list will never be shorter, your days will never be less full, so just start!
