8-K

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 27, 2022

South Dakota Soybean Processors, LLC

(Exact name of registrant as specified in its charter)

South Dakota	000-50253	46-0462968
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)
100 Caspian Avenue; PO Box 500 Volga, South Dakota		57071
(Address of principal executive offices)		(Zip Code)

(605) 627-9240

(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))

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 27, 2022, we entered into an Amended and Restated Revolving Credit Promissory Note ("Restated Seasonal Note") and an Amended and Restated Revolving Term Promissory Note ("Restated Revolving Term Note") with our lender, CoBank, ACB of Greenwood Village, Colorado. See Item 2.03, the text of which is herein 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 April 27, 2022, we entered into the Restated Seasonal Note and Restated Revolving Term Note with our lender, CoBank, ACB. Under the Restated Seasonal Note, the principal amount that we may borrow is increased from $70 million to $85 million until the loan's maturity on December 1, 2022.

Borrowings under the Seasonal Note will accrue interest at 2.25% plus Daily Simple SOFR, and borrowings under the Revolving Term Note will accrue interest at 2.55% plus Daily Simple SOFR. Daily Simple SOFR is defined under both notes.

All other material items and conditions under the Credit Agreement dated December 28, 2016, and subsequent amendments to such agreement, remain the same following these amendments. The amendments will be filed as exhibits 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 29, 2022	/s/ Mark Hyde
	Mark Hyde, Chief Financial Officer

XML

Cover	Apr. 27, 2022
Cover [Abstract]
Document Type	8-K
Document Period End Date	Apr. 27, 2022
Entity Registrant Name	South Dakota Soybean Processors, LLC
Entity Incorporation, State or Country Code	SD
Entity File Number	000-50253
Entity Tax Identification Number	46-0462968
Entity Address, Address Line One	100 Caspian Avenue
Entity Address, Postal Zip Code	57071
Entity Address, State or Province	SD
Entity Address, City or Town	Volga
Entity Address, Address Line Two	PO Box 500
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
City Area Code	605
Local Phone Number	627-9240
Entity Central Index Key	0001163609
Amendment Flag	false
Entity Emerging Growth Company	false