South Dakota Soybean (SDSYA) boosts seasonal loan capacity to $30M
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
South Dakota Soybean Processors, LLC entered into an Amended and Restated Revolving Credit Promissory Note with lender CoBank, ACB on April 9, 2026. This Restated Note increases the principal available under the Company’s seasonal loan from $20 million to $30 million, providing additional short-term borrowing capacity while leaving all other material terms under the existing Credit Agreement dated March 17, 2025, and its amendments unchanged. The Restated Note will be included as an exhibit in the Company’s next periodic report.
Positive
- None.
Negative
- None.
Insights
Seasonal credit line expanded, terms otherwise unchanged.
South Dakota Soybean Processors, LLC increased the capacity of its revolving seasonal loan with CoBank, ACB from $20 million to $30 million. The agreement is structured as an Amended and Restated Revolving Credit Promissory Note dated April 9, 2026.
The filing states that all other material items and conditions under the existing Credit Agreement dated March 17, 2025, and subsequent amendments, remain the same. This suggests a focus on higher working-capital flexibility rather than a change in pricing or covenants, based on the provided information.
The additional $10 million in seasonal borrowing capacity may help fund inventory and operating needs during peak periods. Future periodic reports that include the Restated Note as an exhibit will give more detail on any specific borrowing activity under this expanded facility.
8-K Event Classification
2 items: 1.01, 2.03
2 items
Item 1.01
Entry into a Material Definitive Agreement
Business
The company signed a significant contract such as a merger agreement, credit facility, or major partnership.
Item 2.03
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement
Financial
The company incurred a new significant debt or off-balance-sheet obligation.
Key Figures
New seasonal loan capacity: $30 million
Prior seasonal loan capacity: $20 million
Increase in capacity: $10 million
+2 more
5 metrics
New seasonal loan capacity
$30 million
Principal available under Restated Note with CoBank, ACB
Prior seasonal loan capacity
$20 million
Principal available under existing revolving credit note
Increase in capacity
$10 million
Difference between new $30M and prior $20M seasonal line
Credit Agreement date
March 17, 2025
Date of underlying Credit Agreement whose terms remain the same
Restated Note date
April 9, 2026
Date company entered into Amended and Restated Note
Key Terms
Amended and Restated Revolving Credit Promissory Note, material definitive agreement, direct financial obligation, seasonal loan, +1 more
5 terms
Amended and Restated Revolving Credit Promissory Note financial
"entered into Amended and Restated Revolving Credit Promissory Note (the "Restated Note") with our lender"
material definitive agreement regulatory
"Item 1.01 Entry into a Material Definitive Agreement."
A material definitive agreement is a legally binding contract that creates major, long‑term obligations or rights for a company, such as loans, asset sales, mergers, or supplier deals. Think of it like a mortgage or lease for a business: it can change future cash flow, risk and control, so investors watch these agreements closely because they can materially affect a company’s value, financial health and stock price.
direct financial obligation regulatory
"Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement"
seasonal loan financial
"the principal available under the Company's seasonal loan increases from $20 million to $30 million"
Credit Agreement financial
"All other material items and conditions under the Credit Agreement dated March 17, 2025"
A credit agreement is a written loan contract between a borrower and a bank or other lender that lays out how much money can be borrowed, the interest rate, repayment schedule, fees, and the rules the borrower must follow. For investors, it matters because those terms affect a company’s cash costs, borrowing flexibility and risk of default — similar to how a mortgage’s rules determine a homeowner’s monthly budget and freedom to make changes.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 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): April 9, 2026
| (Exact name of registrant as specified in its charter) | ||
| (State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||||||
| (Address of principal executive offices) | (Zip Code) | |||||||
( | ||
| (Registrant's telephone number, including area code) | ||
| (Former name or former address, if changed since last report) | ||
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:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | ||||||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | ||||||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | ||||||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | ||||||||
Securities registered pursuant to Section 12(b) of the Act: None
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
| Emerging growth company | ||||||||
Item 1.01 Entry into a Material Definitive Agreement.
On April 9, 2026, South Dakota Soybean Processors, LLC (the "Company") entered into Amended and Restated Revolving Credit Promissory Note (the "Restated Note") with our lender, CoBank, ACB, which amends and restates our existing Revolving Credit Promissory Note dated November 24, 2025.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
On April 9, 2026, we entered into the Restated Note with our lender, CoBank, ACB. Under the Restated Note, the principal available under the Company's seasonal loan increases from $20 million to $30 million.
All other material items and conditions under the Credit Agreement dated March 17, 2025, and subsequent amendments to such agreement, remain the same following the Restated Note. The Restated Note will be filed as an exhibit in our next periodic report.
SIGNATURE
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.
| SOUTH DAKOTA SOYBEAN PROCESSORS, LLC | ||||||||
| Dated: April 13, 2026 | /s/ Mark Hyde | |||||||
| Mark Hyde, Chief Financial Officer | ||||||||
FAQ
What did South Dakota Soybean Processors (SDSYA) change in its credit facility?
South Dakota Soybean Processors increased the principal available under its seasonal revolving credit loan with CoBank, ACB from $20 million to $30 million. The modification is documented in an Amended and Restated Revolving Credit Promissory Note dated April 9, 2026, with other key terms unchanged.
How large is the new seasonal loan for South Dakota Soybean Processors (SDSYA)?
The company’s seasonal loan now has a maximum principal of $30 million. This is an increase from the prior $20 million limit and is provided under an Amended and Restated Revolving Credit Promissory Note entered into with CoBank, ACB on April 9, 2026.
Did South Dakota Soybean Processors (SDSYA) change other terms of its Credit Agreement?
According to the disclosure, all other material items and conditions under the Credit Agreement dated March 17, 2025, and its subsequent amendments, remain the same. Only the principal available under the company’s seasonal loan increased from $20 million to $30 million in the Restated Note.
Why is the South Dakota Soybean Processors (SDSYA) filing described as a material definitive agreement?
The filing reports entry into an Amended and Restated Revolving Credit Promissory Note, which is a binding financing contract. Because it increases the company’s seasonal loan capacity from $20 million to $30 million, it qualifies as a material definitive agreement and a direct financial obligation.
When will details of the Restated Note for South Dakota Soybean Processors (SDSYA) be available?
The company states that the Amended and Restated Revolving Credit Promissory Note will be filed as an exhibit in its next periodic report. That exhibit will provide the full contractual terms beyond the disclosed increase from $20 million to $30 million in seasonal loan capacity.