Financing a dream: Two teens win interest-free loans to purchase heifers
January 13, 2014
Last November, Dakota Community Bank & Trust (DCB&T) in Dickinson and Bowman, N.D., announced the winners of the DCB&T Foundation Female Program. Iris Dukart of Manning, N.D., and Chance Andrews of Bowman, N.D., were selected as the recipients of the first annual event.
Andrews and Dukart have won the opportunity to win an interest free (0% APR) loan to purchase five bred heifers. Along with the loan, several area business have donated feed, veterinary supplies and services, operating money and commission-free sale of the cattle for the program recipients. Co-sponsors of this opportunity include Steffan Feeds, Stockmen's Livestock Exchange, West Dakota Vet Clinic, Dakota Farm Equipment, Bowman Sales & Service, Bowman Vet Clinic, Bowman Grain and Bowman Auction Market.
To apply, Andrews and Dukart had to fill out an application and answer a serious of questions pertaining to their involvement in the beef industry, school, community and extra curricular activities. Each applicant had to provide three letters of recommendation, as well as an essay on their short and long term goals if selected for the program.
Now that they have received their loans and purchased their five females, Andrews and Dukart shared what their plans are now and what they hope to gain from this experience.
"I am 13-years old and in the seventh grade at Killdeer Public School," said Dukart. "I live in Manning, N.D. I live on a family farm and ranch. I have shown cattle since I was five and have had livestock my whole life. I am in 4-H and show horses and cattle, and I am in livestock judging and consumer choice judging. I am also in FFA, the Bismarck Horse Club, and I am also in band and choir at school."
Dukart purchased five Red Angus heifers from Milk Creek Reds owned by Bruce and Tena Ketchum.
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"The heifers are ultra-sounded and four will have bulls and one will have a heifer," added Dukart. "I will calve them out this coming February and raise them all summer. The bulls will get sold with my parents' bulls at out yearly bull sale. I will keep the heifer. In the spring, I will A.I. breed her."
Dukart hopes to stay in the cattle business in her adult life.
"My long term goals are to continue ranching," she shared. "I would also like to do some Embryo Transfer work with my heifers later on in the program. The cattle business is important to me because we are the next generation of ranchers. It is important that we start early and learn about the cattle business and are introduced to it early. When we make mistakes, we are at an age where we can learn from them and get better at what we do. Winning this opportunity means a lot to me. This is a start to my future, and I am very excited to be a part of the future generation of cattle and ranching."
Andrews agreed with Dukart and is excited about his new heifer investments.
"I am 14 years old and in the eigth grade at Bowman County School," Andrews said. "I have helped my dad and grandpa on our ranch since I was little. I am in 4-H and have shown steers in the Bowman County Fair since I was nine years old.
Andrews purchased five Black Angus heifers at the Bowman Auction Market in December.
"The first thing I will do is pay off the loan, and then I will work on building my herd," he shared. "My long-term goal is to learn the cattle business and to continue to build my herd. Ranching is something I enjoy. My grandpa did it; my dad does it; and I want to do it, too.This gives me the opportunity to start a herd and to learn about the financial aspect of ranching."
Congratulations to Chance Andrews and Iris Dukart on this opportunity to get into the cattle business. For more information on the DCB&T Foundation Female Program, contact Jason Frey at DCB&T.