Company: SDSYA
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001163609-25-000017
Chunk: 13

Company: SOUTH DAKOTA SOYBEAN PROCESSORS LLC
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 8
Chunk 13
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’s long-term credit facilities.

Note 4 -         Note Payable – Seasonal Loan

The Company entered into a revolving credit agreement with a lending institution which expires on December 1, 2025. The purpose of the credit agreement is to finance the operating needs of the Company. Under this agreement, the Company could borrow up to $70 million, with all advances secured. Interest accrues at a variable rate (6.56% as of March 31, 2025). The Company pays a 0.20% annual commitment fee on any funds not borrowed.  Outstanding advances totaled $7,352,079 and $0 as of March 31, 2025 and December 31, 2024, respectively. The remaining available funds to borrow under the terms of the revolving credit agreement were approximately $62.6 million as of March 31, 2025.Beginning July 1, 2025, the credit facilities agreement will provide the Company a revolving seasonal loan which expires on September 1, 2026. The purpose of the credit agreement is to finance the operating needs of High Plains Processing, LLC. Under this agreement, the Company could borrow up to $85 million, and advances on the revolving credit agreement are secured. Interest accrues at a variable rate (7.76% at March 31, 2025). The Company pays a 0.20% annual commitment fee on any funds not borrowed. There were no advances outstanding as of March 31, 2025 and December 31, 2024

11

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 March 31, 2025 and December 31, 2024: March 31,2025December 31,2024Revolving term loans$61,750,000 $50,500,000 Delayed-draw term loan80,252,312 18,715,135 142,002,312 69,215,135 Less current maturities(6,500,000)(9,000,000)Less unamortized debt issuance costs(2,415,830)(2,541,955)$133,086,482 $57,673,180 The Company has a credit agreement with a lending institution that includes a revolving