UNITED STATES ~~SECURITIES AND EXCHANGE COMMISSION~~

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 8-K

CURRENT REPORT ~~Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934~~

~~Date~~Pursuant ofto ~~Report~~Section 13 or 15(~~Date~~d) of ~~earliest~~the ~~event~~Securities ~~reported):~~Exchange ~~April~~Act ~~17,~~of ~~2007~~1934

Date of Report (Date of earliest event reported): May 8, 2007

LITTLE SIOUX CORN PROCESSORS, L.L.C.

(Exact name of small business issuer as specified in its charter)

Iowa	~~0001229899~~	~~42-1510421~~0001229899	42-1510421
(State or other jurisdiction of incorporation or organization)	~~(Commission File Number)~~	(~~I.R.S.~~Commission ~~Employer~~File ~~Identification No.~~Number)	(I.R.S. Employer Identification No.)
4808 F Ave. Marcus, IA 51035
(Address of principal executive offices)
(712) 376-2800
(Issuer’s telephone number)

4808 F Ave.

Marcus, IA 51035

(Address of principal executive offices)

(712) 376-2800

(Issuer’s telephone number)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 72.0103 ~~Regulation~~Creation FDof ~~Disclosure~~a ~~and~~Direct ~~Item~~Financial ~~8.01~~Obligation ~~Other~~or ~~Events~~an Obligation Under an Off-Balance Sheet Arrangement of a Registrant.

OnAmended ~~April~~and ~~17,~~Restated ~~2007, the Registrant’s Board of Directors~~Construction ~~declared~~Loan aAgreement ~~fifteen-for-one~~between ~~membership~~LSCP, ~~unit~~LLLP ~~split~~and toFirst beNational ~~effected~~Bank ~~in the form~~ of a ~~unit distribution of fourteen membership units for each membership unit outstanding. The record date for the membership unit split is February 1~~Omaha, ~~2007~~N. ~~The additional membership units will be distributed in May 2007~~A.

ARegistrant ~~copy~~is of the ~~press~~general ~~release~~partner ~~announcing~~of ~~and describing this distribution was made available on the Registrant’s website on April 19~~LSCP, ~~2007 and is attached hereto as Exhibit 99~~LLLP.1. As ~~Pursuant~~general topartner, ~~the~~Registrant ~~rules~~manages ~~and regulations of~~ the ~~Securities and Exchange~~ ~~Commission,~~business ~~such exhibit~~ and ~~the information set forth therein and herein shall not be deemed~~ day-to-day beoperations ~~filed for purposes~~ of ~~Section 18 of the Securities Exchange Act of 1934~~LSCP, ~~as amended (the “Exchange Act”)~~LLLP, and ~~shall~~Registrant ~~not~~currently ~~be deemed to be~~owns ~~incorporated~~a by60.15% ~~reference~~ownership interest in ~~any filing under the Securities Act of 1933~~LSCP, asLLLP. ~~amended~~Together, orRegistrant ~~the~~and ~~Exchange Act~~LSCP, ~~except~~LLLP asare ~~shall~~referred beto ~~expressly~~as ~~set~~“we” ~~forth~~or ~~by specific reference in such a filing~~“us.”

~~Item~~On May 98, 2007, we borrowed $10,242,146 from First National Bank of Omaha, N.01A. ~~Financial~~(“FNBO”), pursuant ~~Statements~~to an Amended and ~~Exhibits~~Restated Construction Loan Agreement, dated April 5, 2007 (the “Amended Agreement”). Pursuant to the Amended Agreement, FNBO has agreed to loan us up to $73,000,000 (the “Construction Loan”) to be used for expanding our ethanol plant. We used the proceeds of the Construction Loan in connection with the expansion of our ethanol plant to a 92 million gallon per year facility.

During the construction period, interest on the Construction Loan will be payable on a quarterly basis on the outstanding principal amount at a variable rate equal to the 1 month LIBOR Rate, in effect from time to time, plus (da) ~~Exhibits~~310 basis points prior to acceleration or maturity, and (b) an additional 600 basis points after maturity, whether by acceleration or otherwise. On the Construction Loan Termination Date, the Construction Loan will be converted into a term loan.

Exhibit No.		Description
99.1		Press Release dated April 19, 2007.

As of May 25, 2007, we had outstanding borrowings of $10,242,146 under the Construction Loan.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	LITTLE SIOUX CORN PROCESSORS, L.L.C.
Dated: April 19, 2007	By:	/s/ Gary Grotjohn
Dated: May 29, 2007	By:	/s/ Gary Grotjohn
		Gary Grotjohn, Treasurer and Chief Financial Officer
		Gary Grotjohn, Chief Financial Officer

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