-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, JoeFdc6kSkv+QkMv5jBrYJ0djQ8WZRQ1qY4EmD+d0hp/xsZI2Lr/6ttq6Siuy8qJ 3ZHq/NclScOi3pfcor+LFA== 0001104659-07-018263.txt : 20070312 0001104659-07-018263.hdr.sgml : 20070312 20070312171727 ACCESSION NUMBER: 0001104659-07-018263 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20070306 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant FILED AS OF DATE: 20070312 DATE AS OF CHANGE: 20070312 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SOUTH DAKOTA SOYBEAN PROCESSORS LLC CENTRAL INDEX KEY: 0001163609 STANDARD INDUSTRIAL CLASSIFICATION: AGRICULTURE SERVICES [0700] IRS NUMBER: 000000000 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-50253 FILM NUMBER: 07688584 BUSINESS ADDRESS: STREET 1: 100 CASPIAN AVE. STREET 2: P.O. BOX 500 CITY: VOLGA STATE: SD ZIP: 57071 BUSINESS PHONE: 6056279240 MAIL ADDRESS: STREET 1: 100 CASPIAN AVE. STREET 2: P.O. BOX 500 CITY: VOLGA STATE: SD ZIP: 57071 FORMER COMPANY: FORMER CONFORMED NAME: SOYBEAN PROCESSORS LLC DATE OF NAME CHANGE: 20011213 8-K 1 a07-7848_18k.htm 8-K

 

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): March 6, 2007

South Dakota Soybean Processors, LLC

(Exact name of Registrant as specified in its charter)

South Dakota

 

000-50253

 

46-042968

(State or other jurisdiction of

 

(Commission File Number)

 

(I.R.S. Employer

incorporation)

 

Identification No.)

 

 

 

100 Caspian Ave. PO Box 500

 

 

Volga, South Dakota

 

57071

(Address of principal executive offices)

 

(Zip Code)

 

Registrant’s telephone number, including area code: (605) 647-9240

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:

o   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 



Item 1.01  Entry Into a Material Definitive Agreement.

On March 6, 2007, South Dakota Soybean Processors (referred to as “we,” “our,” or “us”) entered into a loan and guaranty agreement with the State of South Dakota Department of Transportation and Brookings County (South Dakota) Regional Railroad Authority. See Item 2.03 below, the details of which are incorporated by reference.

Item 2.03  Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

On March 6, 2007, in connection with a loan agreement entered into with the State of South Dakota Department of Transportation, the Brookings County (South Dakota) Regional Railway Authority and us as the guarantor, we entered into a guaranty agreement with the State of South Dakota Department of Transportation. Under the loan agreement, the State of South Dakota, Department of Transportation agreed to loan the Brookings County Regional Railroad Authority a total sum of $1.81 million for purposes of making improvements to the railway infrastructure near our soybean processing facility in Volga, South Dakota. The interest rate on the loan is 4.857% per year. Principal and interest payments are due annually, with the first payment due on October 1, 2008 and the final payment due at maturity in October 2017. In consideration of this unsecured loan, we agreed to guarantee to the State of South Dakota Department of Transportation the full loan amount, plus interest. Our guaranty obligation is unconditional and without contingencies, such obligation commencing on March 6, 2007.

We plan to file the guaranty agreement, loan agreement and promissory note as an exhibit with 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: March 12, 2007

By:

/s/ Rodney Christianson

 

 

Rodney Christianson, Chief Executive Officer

 

 

 

 

 


 -----END PRIVACY-ENHANCED MESSAGE-----