Borrower shall initially fund 22% of the purchase price of livestock or $100.00 per head (whichever is greater), and provide a detailed description of the livestock being purchased.
In addition to the initial 22% cattle equity margin, a customer may be asked to invest additional cash to maintain a positive equity position of 22% of the net projected value of the cattle on feed.
Interest shall accrue on the unpaid balance of your obligations at a rate equal to the greater of 5% or Prime + 1%. Prime will be based upon the published rate in the Wall Street Journal, adjusted on the 1st day of each month.
*You may also use a financial statement prepared by your bank or accountant.
Upon receiving your personal information and financial documents, we will begin generating your Note, Credit and Security Agreement. At this time, a UCC lien search will be conducted in Kansas and your state of residence. Subordination agreements may be requested from other lien holders of your livestock and we will verify if any of the lien holders must be included as a Joint Payee for payments.
We thank you for your interest in Cattle Empire, LLC and look forward to working with you in the future to meet your cattle feeding needs.
Please contact Whitney Hoskinson, Accounting and Administrative Manager, at (620) 649-2235 if you have any questions or would like more information.