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 of Report (Date of earliest event reported): May 830, 2007

LITTLE SIOUX CORN PROCESSORS, L.L.C.

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

Iowa		0001229899		42-1510421
(State or other jurisdiction of incorporation or organization)		(Commission File Number)		(I.R.S. Employer Identification No.)

4808 F Ave. Marcus, IA 51035

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 21.0301 ~~Creation~~Entry ofInto a ~~Direct~~Material ~~Financial~~Definitive ~~Obligation or an Obligation Under an Off-Balance Sheet Arrangement of a Registrant~~Agreement.

~~Amended~~Management and ~~Restated Construction~~Operational ~~Loan~~Services Agreement between ~~LSCP,~~Akron ~~LLLP~~Riverview ~~and~~Corn ~~First~~Processors, ~~National~~LLC ~~Bank~~and ofTwin ~~Omaha~~Rivers Management Co., NLLC.A.

Registrant is the general partner of LSCP, LLLP. As general partner, Registrant manages the business and day-to-day operations of LSCP, LLLP, and Registrant currently owns a 60.15% ownership interest in LSCP, LLLP. Akron Riverview Corn Processors, LLC (“ARCP”) ~~Together~~and Twin Rivers Management Co., LLC are both wholly owned subsidiaries of LSCP, LLLP. Registrant’s ~~and~~condensed consolidated financial statements include the accounts of LSCP, LLLP, ~~are~~ARCP ~~referred~~and Twin toRivers asManagement ~~“we”~~Co., ~~or “us~~LLC.”

~~On May~~ARCP 8,entered ~~2007,~~into wea ~~borrowed~~management ~~$10,242,146~~agreement ~~from~~with ~~First~~Twin Rivers ~~National~~Management ~~Bank of Omaha~~Co., ~~N.A.~~LLC (“~~FNBO~~Twin Rivers”)~~, pursuant~~ toon anMay ~~Amended~~30, ~~and~~2007 ~~Restated~~to ~~Construction~~direct, supervise, ~~Loan Agreement~~operate, ~~dated~~maintain ~~April~~and ~~5, 2007~~manage (the ~~“Amended~~100 ~~Agreement”). Pursuant to~~million ~~the~~gallon ~~Amended~~per ~~Agreement,~~year ~~FNBO~~ethanol plant ~~has~~ARCP ~~agreed~~intends to ~~loan~~develop usin upPlymouth toCounty, ~~$73~~near Akron,~~000,000~~ ~~(the~~Iowa. Twin ~~“Construction Loan”)~~Rivers towill bealso ~~used~~perform ~~for~~all ~~expanding~~services necessary ~~our~~for ~~ethanol~~the ~~plant. We~~construction, ~~used~~equipping, ~~the~~start-up ~~proceeds~~and operation of the plant. ARCP ~~Construction~~expects ~~Loan~~to lease inapproximately ~~connection~~40 ~~with~~employees ~~the~~from ~~expansion~~Twin ofRivers. Specifically, ~~our~~Twin ~~ethanol~~Rivers ~~plant~~is expected to aperform 92the ~~million~~following ~~gallon per year facility.~~services:

~~During the~~· Obtain ~~construction~~permits ~~period,~~and ~~interest~~licenses onrequired ~~the~~for ~~Construction Loan will be payable on a quarterly basis on~~ the ~~outstanding~~construction ~~principal amount at a variable rate equal to the 1 month LIBOR Rate, in effect from time to time, plus (a) 310 basis points prior to acceleration or maturity,~~ and ~~(b) an additional 600 basis points after maturity, whether by acceleration~~ /or ~~otherwise.~~ Onoperation ~~the~~of ~~Construction Loan Termination Date,~~ the ~~Construction~~plant ~~Loan~~and ~~will~~ensure ~~be converted~~regulatory ~~into~~compliance awith ~~term~~all ~~loan.~~regulatory matters;

As· Perform ofstart ~~May~~up ~~25, 2007,~~and weoperational ~~had~~monitoring ~~outstanding~~and ~~borrowings~~reporting and conduct review of ~~$10,242,146~~physical ~~under~~performance ~~the~~compared ~~Construction~~to ~~Loan.~~plan and compared to vendor guarantees;

2· Supervise and direct the general operations of the plant and operate it efficiently and effectively;

· Hire, pay, supervise and discharge all employees necessary to properly maintain and operate the plant in accordance with terms and conditions of employment set forth by us;

· Prepare an annual operating budget for the plant;

· Set up and keep separate, accurate and adequate accounting records for ARCP;

· Establish and maintain accounts, collect payments from customers and take any actions necessary to collect payments;

· Comply with all covenants of ARCP under the terms of any mortgage loan affecting the plant;

· Obtain proper insurance for the plant;

· Contract for and purchase all services, grains, supplies and other materials necessary for the plant to produce its products and contract for the marketing and sale of our products;

· Contract for utilities;

· Act in compliance with ARCP’s operating agreement;

· Cooperate with ARCP’s accountants and attorneys in making any disclosures required by securities laws; and

· Cooperate with ARCP’s accountants in filing tax returns.

Beginning in October 2008, ARCP will pay Twin Rivers an annual management fee of $420,000, payable at a monthly rate of $35,000. The management fee will be renegotiated six months after plant operations begin and on an annual basis thereafter. In addition, ARCP will pay Twin Rivers an annual incentive bonus of 3% of ARCP’s Net Income for each year during the agreement. The incentive bonus is capped at $1,500,000 per year. The initial term of this agreement begins when Twin Rivers hires a plant manager for the plant which cannot be earlier than 180 days prior to commencement of substantial operations. The agreement continues for a period of five (5) years thereafter and shall automatically renew for successive periods of five (5) years unless either party gives written notice to the other party of its election not to renew no later than ninety (90) days prior to the expiration of the agreement. If ARCP terminates the agreement during the initial five year term, ARCP is required to pay Twin Rivers a license fee of $250,000 for ARCP’s continued use of proprietary information established by Twin Rivers.

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: May 29, 2007	By:	/s/ Gary Grotjohn
Dated: June 4, 2007	By:	/s / Stephen Roe
		Gary Grotjohn, Chief Financial Officer
	Stephen Roe, President and Chief Executive Officer

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