Company: SDSYA
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001163609-25-000032
Chunk: 14

Company: SOUTH DAKOTA SOYBEAN PROCESSORS LLC
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 8
Chunk 14
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 31, 2024. The remaining available funds to borrow under the terms of the revolving credit agreement were approximately $82.3 million as of September 30, 2025.

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South Dakota Soybean Processors, LLCNotes to Condensed Consolidated Financial Statements

Note 5 -         Long-Term Debt

The following is a summary of the Company's long-term debt on September 30, 2025 and December 31, 2024: September 30,2025December 31,2024Revolving term loans$34,588,635 $50,500,000 Delayed-draw term loan171,255,552 18,715,135 Promissory note12,600,000 — 218,444,187 69,215,135 Less current maturities— (9,000,000)Less unamortized debt issuance costs(2,175,793)(2,541,955)Totals$216,268,394 $57,673,180 The Company has a credit agreement with a lending institution that includes a revolving term loan and a seasonal loan. The credit agreements are secured by substantially all business assets of South Dakota Soybean Processors, LLC. The revolving term loan provides for a maximum borrowing of $65.0 million and the amount available for borrowing on the revolving term loan will decrease by $3.25 million every six months until the loan's maturity date of March 20, 2030. Interest accrues under the agreement at a rate equal to (i) the daily Secured Overnight Financing Rate, plus (ii) a specified applicable margin. The interest rate as of September 30, 2025 was 6.67%. The Company pays a 0.40% annual commitment fee on any funds not borrowed. There were $23.9 million remaining commitments available to borrow on the revolving term loan as of September 30, 2025.The Company has a credit facilities agreement with a lending institution that includes a delayed-draw term loan, a revolving term loan, and a revolving seasonal loan. The credit facilities agreement is secured by substantially all business assets of the High Plains Processing, LLC. The delayed-draw term loan provides borrowing up to $254.0 million until March 31, 2026 to finance the construction of the operating facility in Mitchell, South Dakota. The Company will make quarterly principal payments of $4.50 million plus interest