Open Supplement 2 dated June 13, 2025
Open Supplement 3 dated August 19, 2025
SUPPLEMENTAL INFORMATION-This document supplements, and should be read in conjunction with, the prospectus of Shepherd’s Finance, LLC (the “Company,” “we,” or “our”) dated May 6, 2025, Supplement No. 1 dated May 21, 2025 and Supplement No. 2 dated June 13, 2025. Supplement No. 3, dated August 19, 2025 includes an update regarding the status of our offering; the disposition of 339 Justabout Land Co., LLC (“339”); an update to the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” section of our prospectus to include information for the three and six months ended June 30, 2025; our unaudited condensed consolidated financial statements as of and for the three and six months ended June 30, 2025; and our pro-forma financial statements that reflect the effects of the disposition of 339.