NLPA Lowers Interest Rate on Loans

February 8, 2008 - The National Livestock Producers Association's (NLPA) Sheep and 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 and Goat Fund focuses solely on the sheep and goat industries and is strictly directed by people who understand that industry," Richard Drake, chairman of the NLPA Sheep and 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 a goat processing plant in the state of Kentucky," Drake said.

Also during the January meeting, NLPA appointed Clark Willis of Logan, Utah, to its executive committee.

For more information or an application, contact NLPA at 800-237-7193 or go to the Web site at www.nlpa.org.

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