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NLPA Sheep & Goat Fund
Lowers Interest Rate to 5%

Colorado Springs, CO (Feb. 1, 2008) -- The National Livestock Producers Association’s Sheep & Goat Fund Committee reduced the interest rate offered to applicants to 5 percent at their most recent meeting in Las Vegas on Jan. 24, 2008.

“We hope that the lowered rate will attract more applicants. The NLPA Sheep & Goat Fund focuses solely on the sheep and goat industry and is strictly directed by people who understand that industry,” Richard Drake, chairman of the NLPA Sheep & Goat Fund Committee said. “The fund has given sheep and goat businesses from across the United States a much needed financial boost at a time when agricultural financing can be difficult to secure.”

Currently the Fund has $9.85 million in loan commitments with 55 loans to 38 entities in 22 states. The Fund Committee continuously reviews applications that serve the goals of this program. Drake said he would like to see a continued variety of applicants in the coming year.“In 2007, the Fund has helped a company making lamb feed, enhanced a meat pie company’s ability to increase its national market share, and has been used to help establish an goat processing plant in the state of Kentucky,” Drake said.

The Sheep & Goat Fund was established in 1999 when an agreement was signed between NLPA and the National Sheep Industry Improvement Center, which is now the American Sheep and Goat Center. The agreement enables funds to be used in the sheep and goat industries through a revolving loan program. The NLPA Sheep & Goat Fund is used exclusively for loans with the following goals:

  • To make capital available for enhancing business methods and services.
  • To improve marketing efficiency and product quality.
  • To promote coordination and cooperation within the industry.
  • To create opportunities for adding value to sheep and goat products.

NLPA has the ability to service and administer this important program and was selected for their ability to provide:

  • expertise with livestock production, processing and marketing-related lending;
  • nationwide capability in urban and rural areas; and
  • the ability to process and service loans from all segments of the sheep and goat industries; from production through the packer/processor/retail level.

According to the terms of the agreement the Sheep and Goat Fund Committee, which consists of members of NLPA and representatives of the sheep and goat industries, is responsible for the oversight of the Fund. The Committee regularly reviews applications and is only allowed to consider loans up to $1 million that are submitted by eligible entities (sole proprietors are not eligible as written into the legislation that established the Sheep & Goat Fund).

For more information or an application please contact the National Livestock Producers Association at (800) 237-7193, ext. 10. More information and the application are also available at www.nlpa.org.

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The National Livestock Producers Association, founded in 1921, is an organization of livestock marketing cooperatives and credit corporations representing more than 215,000 livestock producers nationwide.



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