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
Kiva recently posted a message regarding the “No Pago” movement in Nicaragua (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 had submitted a law to the government to create a moratorium on debt repayment. Initially it was unclear whether this law would pass, which would have had severe effects on the banking and microfinance industry in Nicaragua. However in the last month the executive branch rejected the law in its current form. The No Pago movement still exists but seems to have lost some steam. There is still a possibility that a law encouraging more restructuring of loans could pass next year, and microfinance institutions are voluntarily restructuring loans to delinquent borrowers, still increasing risk of lending in Nicaragua. However indications are that the situation is less dramatic than before.

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