| Application Process | |
| The Idea | |
| There are many ideas for projects that will benefit the U.S. Sheep or Goat Industries. There are an unlimited number of ideas on better production, marketing, genetics, sales and any other project would benefit the goat or sheep industries. | |
| Financial Feasibility | |
| The entity or group that is interested in pursuing the project needs to explore the financial feasibility of the project. A financial feasibility analysis or study can range from very simple to very complex. There are a lot of resources available through the Extension Service, local development offices, colleges and universities that can help with a financial analysis. If the project is found not to be financially feasible then is needs to be modified or abandoned. If the project is found to be financially feasible then a business plan needs to be developed. The business plan will also range in it's complexity depending on the project and helps identify equity that is available, cash flows and the need to borrow money for capital improvements or for operating. | |
| Need a Loan? | |
| If you determine that you
need a loan you need to look into all of the options to see where you can
get the best terms. If you are reading this page it means you are
considering the NLPA Sheep and Goat Fund. We hope that they can meet
your needs.
To start the loan process you will need to fill out a loan application. The application can be obtained online at http://www.nlpa.org/ or by calling the NLPA Office at 719-538-8843. If you have done the feasibility analysis and a business plan the application will be fairly easy. | |
| Submit Application | |
| Submit your completed application to the NLPA office in Colorado Springs. The address is on the application. | |
| Initial Application Review | |
| NLPA staff will work with
you to make sure that the application is complete.
The application will then be submitted to the members of the NLPA Sheep and Goat Fund Committee for their initial review. In the initial review they will ask two questions: 1. Is the applicant an eligible entity? (See Frequently asked Questions for more information) 2. Does this project benefit the US Sheep or Goat Industries? If the answer to either of these questions is no then the application is declined. | |
| Detailed Analysis | |
| If the answer to both of
the preceding questions is yes, then:
A servicing agent is identified. The servicing agent is the organization that will service the loan once if it is approved. A servicing agent may be a local bank that the applicant uses, it may be an NLPA affiliated member or it may be some other lending institution. The application is then reviewed by a financial expert who collects and verifies credit reports, cash flows, marketing data and any other pertinent information based on the specific nature of the loan. The financial expert may or may not be in contact with the applicant for more information. | |
| The Sheep and Goat Fund Committee Meets | |
| The financial expert gives the findings to the members of the Sheep and Goat Fund Committee for their review. Only the NLPA Sheep and Goat Fund Committee has the authority to make a decision on a loan, the financial expert and staff only provided information asked for by the Committee. The Sheep and Goat Fund Committee then meets to determine if the project is credit worthy and determine what loan terms are appropriate considering the unique nature of each loan. | |
| The Loan | |
| If the Sheep and Goat Fund Committee and the applicant agree on the term of the loan then the proper documents are drawn up and the loan is funded through the servicing agent. | |