Company: SDSYA
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001163609-25-000023
Chunk: 27

Company: SOUTH DAKOTA SOYBEAN PROCESSORS LLC
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 8
Chunk 27
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 on any funds not borrowed. The principal balance outstanding on the revolving term loan was $61.8 million and $50.5 million as of June 30, 2025 and December 31, 2024, respectively. Under this loan, there were no additional funds available to borrow as of June 30, 2025.

The second credit line is a revolving working capital (seasonal) loan. The primary purpose of this loan is to finance our operating needs. We may borrow up to $70.0 million until the loan's maturity on December 1, 2025. We pay a 0.20% annual commitment fee on any funds not borrowed; however, we have the option to reduce the credit line during any given commitment period listed in the credit agreement to avoid the commitment fee. As of June 30, 2025 and December 31, 2024, the principal balance outstanding on this credit line was $4.6 million and $0, respectively. Under this loan, there were $65.4 million of additional funds available to borrow as of June 30, 2025.

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The third line of credit is a delayed-draw term loan. Under this loan, our subsidiary may borrow funds, as needed up to $254.0 million until March 31, 2026. Principal payments of $4.5 million are made quarterly beginning six months after the completion date of the High Plains Processing facility. The quarterly principal payments will increase by $1.0 million on the anniversary date and continue until the maturity date of December 31, 2029. Our subsidiary pays a 0.50% annual commitment fee on any funds not borrowed;. The principal balance outstanding on this note was $131.8 million and $18.7 million as of June 30, 2025 and December 31, 2024, respectively. Under this note, there were $122.2 million of funds available to borrow as of June 30, 2025.

The fourth credit line is a revolving long-term loan. Under this loan, our subsidiary may borrow funds, as needed, up to the credit line maximum, or $40.0 million, and then pay down the principal whenever excess cash is available. Repaid amounts may be borrowed up to the available credit line until the credit line’s maturity on December 31, 2029 at which time a balloon payment for the remaining balance is due. Our subsidiary pays a 0.50% annual