ASI notes new lending tool for sheep producers
DENVER, COLO. – Sheep producers looking to expand their flocks now have a new financing tool to assist them.
“A major hindrance for producers looking to expand is financing,” said Clint Krebs, American Sheep Industry Association president, announcing that in the spirit of the association’s Let’s Grow initiative, ASI teamed up with the National Livestock Producers Association’s Sheep and Goat Fund Committee to find a solution.
The purpose of the fund has been to assist in financing projects beyond the farm gate; however, this is the first time the fund has had the ability to make term loans to sheep producers for the purpose of flock expansion.
Mike Corn, ASI’s secretary/ASI will be working with NLPA in identifying potential loan applicants and provide the necessary educational resources to borrowers to help them become successful producers.
Conditions of the lending program include:
- A minimum loan amount of $35,000 with the maximum loan amount based on credit worthiness of the borrower;
- A five-year maturity date;
- Proceeds may only be used for the purchase of breeding animals and may not be used for other operating expenses; and
- Prospective borrowers must demonstrate their ability to successfully produce sheep in a production setting, which may include the establishment of a mentor relationship, participation in educational programming for sheep and financial management and the development of a marketing plan for the enterprise.
For additional information visit www.SheepandGoatFund.com or contact Scharee Atchison at NLPA at (800) 237-7193, ext. 10 or email at NLPA@NLPA.org.
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