Gerardo Ramón Sequeira Ruiz

Gerardo Ramón Sequeira Ruiz is originally from the city of Grenada, which is called “The Great Sultan” by Nicaraguans because of its ancient volcano known as “the Sultan”.

Gerardo has managed two businesses in order to get ahead, survive, and improve his quality of life. His first business is in agriculture, which he started more than 15 years ago. He owns 5 plots of land for planting corn, beans, and cassava. This is his long-term business that serves as his primary source of income. He took the initiative to start another business out of necessity, buying timber used for firewood. Originally he started with 5 shipments of wood, but loans have helped him acquire up to 20 shipments at a time. His goal is to be able to handle 130 shipments.

Gerardo has already taken out 25 loans from ADIM over a 6 year relationship with the Institution. He is very happy and proud of his accomplishments. He believes he will reach his goals soon because he keeps telling himself, “You can do this.”

Translated from Spanish by Ronan Reodica, Kiva Volunteer

Gerardo Ramón Sequeira Ruiz es originario de la ciudad de Granada, llamada por los nicaragüenses “La Gran Sultana”, por su volcán, antiguamente conocido como “El Sultán”.

Gerardo posee dos tipos de negocios que le han permitido salir adelante, subsistir y mejorar sus condiciones de vida. El primero es la agricultura, que realiza desde hace más de quince años; Posee 5 manzanas de tierra y siembra Maíz, frijoles y yuca. En este tipo de negocio la ganancia se mira a largo plazo, por lo tanto como el mismo dice “Por la necesidad” tomó la iniciativa de invertir en otro tipo de negocio a menor plazo, éste es la compra de arboles para leña.

Inició con 5 fletes de leña; pero con los créditos que se le han proporcionado y el trabajo que el realiza, actualmente trabaja hasta con 20 fletes de leña. Su meta es llegar a los 130 fletes.

Leva 25 ciclos de crédito con ADIM, más de 6 años de trabajar con la institución y se siente muy satisfecho, orgulloso de sus logros y cree que va a alcanzar sus metas pronto, puesto que como el mismo dice “Me ha ido bonito”.



Important Information About This Loan
In mid 2008, a movement began in Nicaragua called “Movimiento No Pago” (a movement for non-payment of loans). This movement, supported mostly by farmers of the north of Nicaragua with ties to the left-wing party in Nicaragua, has been organizing protests and making it difficult for some branches of microfinance institutions to operate normally. This movement has been fed by the global the economic crisis, which has made it more difficult for Nicaraguans to pay back their loans. This group has submitted a law to the government to create a moratorium on debt repayment. If passed, the law could have a severe effect on the microfinance industry and banking sector in Nicaragua. Recent information indicates that the situation may be improving as the President of Nicaragua has spoken out against this law and would not support its passage in its current form. The network of microfinance institutions in Nicaragua (ASOMIF) has been negotiating with the government in support of an alternative proposal. Kiva, along with 25 other funders from 9 countries, has signed onto a letter to the Nicaraguan government urging a resolution to this situation without enacting a moratorium on debt repayment. The potential passage of the debt moratorium increases the risk of lending in Nicaragua. For more information, please see the following articles: http://impreso.elnuevodiario.com.ni/2009/09/24/nacionales/110236; http://www.laprensa.com.ni/archivo/2009/octubre/16/noticias/economia/355010.shtml

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