Company: SDSYA
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001163609-25-000023
Chunk: 41

Company: SOUTH DAKOTA SOYBEAN PROCESSORS LLC
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 2
Chunk 41
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 set daily by CoBank. We also have a fixed rate option on all three loans, allowing us to fix rates for any period between one day and the entire commitment period. The annual interest rate on the loans was range between 6.54% and 7.44% as of June 30, 2025.

On March 19,2025, the State of South Dakota Department of Transportation agreed to loan the Davison Regional Railroad Authority $12.6 million for purposes of making improvements to the railway infrastructure at the operating facility near Mitchell, South Dakota. In consideration of this secured loan, agreed to provide a guarantee to the State of South Dakota Department of Transportation for the full amount of the loan, plus 2.0% interest. This guarantee was converted into a direct obligation of ours on May 27, 2025, when we received the entire loan proceeds and assumed responsibility for the annual principal and interest payments of $987,500, which begins on October 1, 2026. These payments will continue through October 1, 2032, at which time a final balloon payment will be due for the remaining unpaid principal and any accrued interest.

OFF BALANCE SHEET FINANCING ARRANGEMENTS

We do not utilize variable interest entities or other off-balance sheet financial arrangements.

Contractual Obligations

The following table shows our contractual obligations for the periods presented:

Payment due by periodCONTRACTUALOBLIGATIONSTotalLess than1 year1-3 years3-5 yearsMore than5 yearsLong-Term Debt Obligations (1)$258,530,300 $20,700,000 $79,102,000 $148,533,000 $10,195,300 Operating Lease Obligations39,324,000 5,236,000 9,050,000 8,159,000 16,879,000 Totals$297,854,300 $25,936,000 $88,152,000 $156,692,000 $27,074,300 

(1)    Represents principal and interest payments on our notes payable, which are included on our Balance Sheet.

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RECENT ACCOUNTING PRONOUNCEMENTS

See Note 1 of our Financial Statements under Part I, Item 1, for a discussion on the impact, if any, of the recently pronounced accounting standards.

CRITICAL ACCOUNTING POLICIES AND ESTIMATES

There have