NLPA Sheep & Goat Fund
Lowers Interest Rate to 5%
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
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
- 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
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
- 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
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.
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.