<?xml version="1.0" encoding="US-ASCII" standalone="no"?>
    <!-- Field: Doc-Info; Name: Generator; Value: GoFiler Complete; Version: 6.4b -->
    <!-- Field: Doc-Info; Name: VendorURI; Value: https://www.novaworks.com -->
    <!-- Field: Doc-Info; Name: Status; Value: 0x00000000 -->
<link:linkbase xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:xbrli="http://www.xbrl.org/2003/instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#Cover" roleURI="http://shepherdsfinance.com/role/Cover" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#BalanceSheets" roleURI="http://shepherdsfinance.com/role/BalanceSheets" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#BalanceSheetsParenthetical" roleURI="http://shepherdsfinance.com/role/BalanceSheetsParenthetical" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#StatementsOfOperations" roleURI="http://shepherdsfinance.com/role/StatementsOfOperations" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#StatementsOfChangesInMembersCapital" roleURI="http://shepherdsfinance.com/role/StatementsOfChangesInMembersCapital" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#StatementsOfCashFlows" roleURI="http://shepherdsfinance.com/role/StatementsOfCashFlows" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#StatementsOfCashFlowsParenthetical" roleURI="http://shepherdsfinance.com/role/StatementsOfCashFlowsParenthetical" />
    <link:roleRef xlink:type="simple" xlink:href="https://xbrl.sec.gov/cyd/2025/cyd-2025.xsd#CybersecurityRiskManagementAndStrategyDisclosure" roleURI="http://xbrl.sec.gov/cyd/role/CybersecurityRiskManagementAndStrategyDisclosure" />
    <link:roleRef xlink:type="simple" xlink:href="https://xbrl.sec.gov/cyd/2025/cyd-2025.xsd#MaterialCybersecurityIncidentDisclosure" roleURI="http://xbrl.sec.gov/cyd/role/MaterialCybersecurityIncidentDisclosure" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#DescriptionOfBusiness" roleURI="http://shepherdsfinance.com/role/DescriptionOfBusiness" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#SummaryOfSignificantAccountingPolicies" roleURI="http://shepherdsfinance.com/role/SummaryOfSignificantAccountingPolicies" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#AcquisitionAndDisposal" roleURI="http://shepherdsfinance.com/role/AcquisitionAndDisposal" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#FairValue" roleURI="http://shepherdsfinance.com/role/FairValue" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#SegmentReporting" roleURI="http://shepherdsfinance.com/role/SegmentReporting" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#RealEstateInvestmentAssets" roleURI="http://shepherdsfinance.com/role/RealEstateInvestmentAssets" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#LoansReceivablesNet" roleURI="http://shepherdsfinance.com/role/LoansReceivablesNet" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#ForeclosedAssets" roleURI="http://shepherdsfinance.com/role/ForeclosedAssets" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#Borrowings" roleURI="http://shepherdsfinance.com/role/Borrowings" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#RefundablePrepaidInterest" roleURI="http://shepherdsfinance.com/role/RefundablePrepaidInterest" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#SeriesCPreferredEquity" roleURI="http://shepherdsfinance.com/role/SeriesCPreferredEquity" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#MembersCapital" roleURI="http://shepherdsfinance.com/role/MembersCapital" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#RelatedPartyTransactions" roleURI="http://shepherdsfinance.com/role/RelatedPartyTransactions" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#CommitmentsAndContingencies" roleURI="http://shepherdsfinance.com/role/CommitmentsAndContingencies" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#Non-interestExpenseDetail" roleURI="http://shepherdsfinance.com/role/Non-interestExpenseDetail" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#PremisesAndEquipment" roleURI="http://shepherdsfinance.com/role/PremisesAndEquipment" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#SummaryOfSignificantAccountingPoliciesPolicies" roleURI="http://shepherdsfinance.com/role/SummaryOfSignificantAccountingPoliciesPolicies" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#SummaryOfSignificantAccountingPoliciesTables" roleURI="http://shepherdsfinance.com/role/SummaryOfSignificantAccountingPoliciesTables" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#AcquisitionAndDisposalTables" roleURI="http://shepherdsfinance.com/role/AcquisitionAndDisposalTables" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#FairValueTables" roleURI="http://shepherdsfinance.com/role/FairValueTables" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#SegmentReportingTables" roleURI="http://shepherdsfinance.com/role/SegmentReportingTables" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#RealEstateInvestmentAssetsTables" roleURI="http://shepherdsfinance.com/role/RealEstateInvestmentAssetsTables" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#LoansReceivablesNetTables" roleURI="http://shepherdsfinance.com/role/LoansReceivablesNetTables" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#ForeclosedAssetsTables" roleURI="http://shepherdsfinance.com/role/ForeclosedAssetsTables" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#BorrowingsTables" roleURI="http://shepherdsfinance.com/role/BorrowingsTables" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#RefundablePrepaidInterestTables" roleURI="http://shepherdsfinance.com/role/RefundablePrepaidInterestTables" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#SeriesCPreferredEquityTables" roleURI="http://shepherdsfinance.com/role/SeriesCPreferredEquityTables" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#RelatedPartyTransactionsTables" roleURI="http://shepherdsfinance.com/role/RelatedPartyTransactionsTables" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#Non-interestExpenseDetailTables" roleURI="http://shepherdsfinance.com/role/Non-interestExpenseDetailTables" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#PremisesAndEquipmentTables" roleURI="http://shepherdsfinance.com/role/PremisesAndEquipmentTables" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#SummaryOfConcentrationRisksDetails" roleURI="http://shepherdsfinance.com/role/SummaryOfConcentrationRisksDetails" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#SummaryOfSignificantAccountingPoliciesDetailsNarrative" roleURI="http://shepherdsfinance.com/role/SummaryOfSignificantAccountingPoliciesDetailsNarrative" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#ScheduleOfPurchasePriceToAssetsAndLiabilitiesDetails" roleURI="http://shepherdsfinance.com/role/ScheduleOfPurchasePriceToAssetsAndLiabilitiesDetails" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#ScheduleOfAcquiredAssetsAndAssumedLiabilitiesDetails" roleURI="http://shepherdsfinance.com/role/ScheduleOfAcquiredAssetsAndAssumedLiabilitiesDetails" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#AcquisitionAndDisposalDetailsNarrative" roleURI="http://shepherdsfinance.com/role/AcquisitionAndDisposalDetailsNarrative" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#ScheduleOfNon-financialInstrumentsMeasuredAtFairValueOnNon-recurringBasisDetails" roleURI="http://shepherdsfinance.com/role/ScheduleOfNon-financialInstrumentsMeasuredAtFairValueOnNon-recurringBasisDetails" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#ScheduleOfEstimatingFairValueOfAssetsAndLiabilitiesValuedOnNonrecurringBasisDetails" roleURI="http://shepherdsfinance.com/role/ScheduleOfEstimatingFairValueOfAssetsAndLiabilitiesValuedOnNonrecurringBasisDetails" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#ScheduleOfFairValueEstimatesForFinancialInstrumentsDetails" roleURI="http://shepherdsfinance.com/role/ScheduleOfFairValueEstimatesForFinancialInstrumentsDetails" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#SegmentReportingDetailsNarrative" roleURI="http://shepherdsfinance.com/role/SegmentReportingDetailsNarrative" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#ScheduleOfInformationAboutReportableSegmentsAndReconciliationsOfConsolidatedFinancialStatementsDetails" roleURI="http://shepherdsfinance.com/role/ScheduleOfInformationAboutReportableSegmentsAndReconciliationsOfConsolidatedFinancialStatementsDetails" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#ScheduleOfRollForwardOfRealEstateInvestmentAssetsDetails" roleURI="http://shepherdsfinance.com/role/ScheduleOfRollForwardOfRealEstateInvestmentAssetsDetails" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#ScheduleOfCapitalizedInterestForConstructiondevelopmentRealEstateInvestmentAssetsDetails" roleURI="http://shepherdsfinance.com/role/ScheduleOfCapitalizedInterestForConstructiondevelopmentRealEstateInvestmentAssetsDetails" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#RealEstateInvestmentAssetsDetailsNarrative" roleURI="http://shepherdsfinance.com/role/RealEstateInvestmentAssetsDetailsNarrative" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#ScheduleOfFinancingReceivablesDetails" roleURI="http://shepherdsfinance.com/role/ScheduleOfFinancingReceivablesDetails" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#ScheduleOfCommercialLoans-ConstructionLoanPortfolioSummaryDetails" roleURI="http://shepherdsfinance.com/role/ScheduleOfCommercialLoans-ConstructionLoanPortfolioSummaryDetails" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#ScheduleOfCommercialLoans-RealEstateDevelopmentLoanPortfolioSummaryDetails" roleURI="http://shepherdsfinance.com/role/ScheduleOfCommercialLoans-RealEstateDevelopmentLoanPortfolioSummaryDetails" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#ScheduleOfConstructionAndDevelopmentLoanPortfolioDetails" roleURI="http://shepherdsfinance.com/role/ScheduleOfConstructionAndDevelopmentLoanPortfolioDetails" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#ScheduleOfGrossLoanReceivableCommitmentValueAndAclCreditRankLoanPoolCategoryDetails" roleURI="http://shepherdsfinance.com/role/ScheduleOfGrossLoanReceivableCommitmentValueAndAclCreditRankLoanPoolCategoryDetails" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#ScheduleOfAmortizedCostBasisOfLoansOnNonaccrualStatusAndLoansDetails" roleURI="http://shepherdsfinance.com/role/ScheduleOfAmortizedCostBasisOfLoansOnNonaccrualStatusAndLoansDetails" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#ScheduleOfAgingOfGrossLoanPortfolioDetails" roleURI="http://shepherdsfinance.com/role/ScheduleOfAgingOfGrossLoanPortfolioDetails" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#SummaryOfAgingScheduleOfLoansReceivablesOnRecencyBasisDetails" roleURI="http://shepherdsfinance.com/role/SummaryOfAgingScheduleOfLoansReceivablesOnRecencyBasisDetails" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#ScheduleOfAgingScheduleOfLoansReceivablesOnContractualBasisDetails" roleURI="http://shepherdsfinance.com/role/ScheduleOfAgingScheduleOfLoansReceivablesOnContractualBasisDetails" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#ScheduleOfAllowanceForCreditLossesDetails" roleURI="http://shepherdsfinance.com/role/ScheduleOfAllowanceForCreditLossesDetails" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#ScheduleOfLoanPortfolioByYearOfOriginationCategoryAndCreditQualityIndicatorDetails" roleURI="http://shepherdsfinance.com/role/ScheduleOfLoanPortfolioByYearOfOriginationCategoryAndCreditQualityIndicatorDetails" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#ScheduleOfConcentrationRisksDetails" roleURI="http://shepherdsfinance.com/role/ScheduleOfConcentrationRisksDetails" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#LoansReceivablesNetDetailsNarrative" roleURI="http://shepherdsfinance.com/role/LoansReceivablesNetDetailsNarrative" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#ScheduleOfRollForwardOfForeclosedAssetsDetails" roleURI="http://shepherdsfinance.com/role/ScheduleOfRollForwardOfForeclosedAssetsDetails" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#ScheduleOfBorrowingsDetails" roleURI="http://shepherdsfinance.com/role/ScheduleOfBorrowingsDetails" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#ScheduleOfMaturityOfDebtDetails" roleURI="http://shepherdsfinance.com/role/ScheduleOfMaturityOfDebtDetails" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#ScheduleOfRollForwardOfNotesOutstandingDetails" roleURI="http://shepherdsfinance.com/role/ScheduleOfRollForwardOfNotesOutstandingDetails" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#ScheduleOfRollForwardOfDeferredFinancingCostsDetails" roleURI="http://shepherdsfinance.com/role/ScheduleOfRollForwardOfDeferredFinancingCostsDetails" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#ScheduleOfRollForwardOfAccumulatedAmortizationOfDeferredFinancingCostsDetails" roleURI="http://shepherdsfinance.com/role/ScheduleOfRollForwardOfAccumulatedAmortizationOfDeferredFinancingCostsDetails" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#ScheduleOfOtherUnsecuredLoansDetails" roleURI="http://shepherdsfinance.com/role/ScheduleOfOtherUnsecuredLoansDetails" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#ScheduleOfOtherUnsecuredLoansDetailsParenthetical" roleURI="http://shepherdsfinance.com/role/ScheduleOfOtherUnsecuredLoansDetailsParenthetical" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#BorrowingsDetailsNarrative" roleURI="http://shepherdsfinance.com/role/BorrowingsDetailsNarrative" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#ScheduleOfRefundablePrepaidInterestDetails" roleURI="http://shepherdsfinance.com/role/ScheduleOfRefundablePrepaidInterestDetails" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#ScheduleOfRollForwardOfSeriesCPreferredEquityDetails" roleURI="http://shepherdsfinance.com/role/ScheduleOfRollForwardOfSeriesCPreferredEquityDetails" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#ScheduleOfConversionOptionsForInvestorsInSeriesCPreferredEquityDetails" roleURI="http://shepherdsfinance.com/role/ScheduleOfConversionOptionsForInvestorsInSeriesCPreferredEquityDetails" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#SeriesCPreferredEquityDetailsNarrative" roleURI="http://shepherdsfinance.com/role/SeriesCPreferredEquityDetailsNarrative" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#MembersCapitalDetailsNarrative" roleURI="http://shepherdsfinance.com/role/MembersCapitalDetailsNarrative" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#ScheduleOfRelatedPartyTransactionsDetails" roleURI="http://shepherdsfinance.com/role/ScheduleOfRelatedPartyTransactionsDetails" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#RelatedPartyTransactionsDetailsNarrative" roleURI="http://shepherdsfinance.com/role/RelatedPartyTransactionsDetailsNarrative" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#CommitmentsAndContingenciesDetailsNarrative" roleURI="http://shepherdsfinance.com/role/CommitmentsAndContingenciesDetailsNarrative" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#ScheduleOfSellingGeneralAndAdministrativeExpensesDetails" roleURI="http://shepherdsfinance.com/role/ScheduleOfSellingGeneralAndAdministrativeExpensesDetails" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#ScheduleOfPremisesAndEquipmentDetails" roleURI="http://shepherdsfinance.com/role/ScheduleOfPremisesAndEquipmentDetails" />
    <link:roleRef xlink:type="simple" xlink:href="sheph-20251231.xsd#PremisesAndEquipmentDetailsNarrative" roleURI="http://shepherdsfinance.com/role/PremisesAndEquipmentDetailsNarrative" />
    <link:roleRef xlink:type="simple" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#PvpExecutiveCategoriesOnly" roleURI="http://xbrl.sec.gov/ecd/role/PvpExecutiveCategoriesOnly" />
    <link:roleRef xlink:type="simple" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#PvpAdjustmentsOnly" roleURI="http://xbrl.sec.gov/ecd/role/PvpAdjustmentsOnly" />
    <link:roleRef xlink:type="simple" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#IndividualsOnly" roleURI="http://xbrl.sec.gov/ecd/role/IndividualsOnly" />
    <link:roleRef xlink:type="simple" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#AwardTypeOnly" roleURI="http://xbrl.sec.gov/ecd/AwardTypeOnly" />
    <link:roleRef xlink:type="simple" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#TradingArrangmentsOnly" roleURI="http://xbrl.sec.gov/ecd/role/TradingArrangementsOnly" />
    <link:arcroleRef xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#hypercube-dimension" arcroleURI="http://xbrl.org/int/dim/arcrole/hypercube-dimension" />
    <link:arcroleRef xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#dimension-domain" arcroleURI="http://xbrl.org/int/dim/arcrole/dimension-domain" />
    <link:arcroleRef xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#domain-member" arcroleURI="http://xbrl.org/int/dim/arcrole/domain-member" />
    <link:arcroleRef xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#all" arcroleURI="http://xbrl.org/int/dim/arcrole/all" />
    <link:arcroleRef xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#notAll" arcroleURI="http://xbrl.org/int/dim/arcrole/notAll" />
    <link:arcroleRef xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#dimension-default" arcroleURI="http://xbrl.org/int/dim/arcrole/dimension-default" />
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/Cover" xlink:title="00000001 - Document - Cover" />
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/BalanceSheets" xlink:title="00000002 - Statement - Consolidated Balance Sheets" />
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/BalanceSheetsParenthetical" xlink:title="00000003 - Statement - Consolidated Balance Sheets (Parenthetical)" />
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/StatementsOfOperations" xlink:title="00000004 - Statement - Consolidated Statements of Operations" />
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/StatementsOfChangesInMembersCapital" xlink:title="00000005 - Statement - Consolidated Statements of Changes in Members&apos; Capital">
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_StatementLineItems" xlink:label="loc_us-gaapStatementLineItems" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_StatementTable" xlink:label="loc_us-gaapStatementTable" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xbrldt:contextElement="segment" xlink:from="loc_us-gaapStatementLineItems" xlink:to="loc_us-gaapStatementTable" xlink:type="arc" order="10" xbrldt:closed="true" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_StatementEquityComponentsAxis" xlink:label="loc_us-gaapStatementEquityComponentsAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapStatementTable" xlink:to="loc_us-gaapStatementEquityComponentsAxis" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_EquityComponentDomain" xlink:label="loc_us-gaapEquityComponentDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaapStatementEquityComponentsAxis" xlink:to="loc_us-gaapEquityComponentDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_EquityComponentDomain" xlink:label="loc_us-gaapEquityComponentDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_us-gaapStatementEquityComponentsAxis" xlink:to="loc_us-gaapEquityComponentDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PreferredStockMember" xlink:label="loc_us-gaapPreferredStockMember_0" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapEquityComponentDomain" xlink:to="loc_us-gaapPreferredStockMember_0" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_CommonStockMember" xlink:label="loc_us-gaapCommonStockMember_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapEquityComponentDomain" xlink:to="loc_us-gaapCommonStockMember_10" xlink:type="arc" order="11" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_StatementClassOfStockAxis" xlink:label="loc_us-gaapStatementClassOfStockAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapStatementTable" xlink:to="loc_us-gaapStatementClassOfStockAxis" xlink:type="arc" order="2" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ClassOfStockDomain" xlink:label="loc_us-gaapClassOfStockDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaapStatementClassOfStockAxis" xlink:to="loc_us-gaapClassOfStockDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ClassOfStockDomain" xlink:label="loc_us-gaapClassOfStockDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_us-gaapStatementClassOfStockAxis" xlink:to="loc_us-gaapClassOfStockDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_PreferredClassCMember" xlink:label="loc_SHEPHPreferredClassCMember_0" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapClassOfStockDomain" xlink:to="loc_SHEPHPreferredClassCMember_0" xlink:type="arc" order="2" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_CommonClassAMember" xlink:label="loc_us-gaapCommonClassAMember_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapClassOfStockDomain" xlink:to="loc_us-gaapCommonClassAMember_10" xlink:type="arc" order="12" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_MembersCapital" xlink:label="loc_us-gaapMembersCapital_160" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapStatementLineItems" xlink:to="loc_us-gaapMembersCapital_160" xlink:type="arc" order="0" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_NetIncomeLossAvailableToCommonStockEquityholders" xlink:label="loc_SHEPHNetIncomeLossAvailableToCommonStockEquityholders_160" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapStatementLineItems" xlink:to="loc_SHEPHNetIncomeLossAvailableToCommonStockEquityholders_160" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ReclassificationsOfTemporaryToPermanentEquity" xlink:label="loc_us-gaapReclassificationsOfTemporaryToPermanentEquity_160" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapStatementLineItems" xlink:to="loc_us-gaapReclassificationsOfTemporaryToPermanentEquity_160" xlink:type="arc" order="2" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PartnersCapitalAccountExchangesAndConversions" xlink:label="loc_us-gaapPartnersCapitalAccountExchangesAndConversions_160" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapStatementLineItems" xlink:to="loc_us-gaapPartnersCapitalAccountExchangesAndConversions_160" xlink:type="arc" order="3" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PartnersCapitalAccountDistributions" xlink:label="loc_us-gaapPartnersCapitalAccountDistributions_160" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapStatementLineItems" xlink:to="loc_us-gaapPartnersCapitalAccountDistributions_160" xlink:type="arc" order="4" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_PartnersCapitalUnitBasedCompensationExpense" xlink:label="loc_SHEPHPartnersCapitalUnitBasedCompensationExpense_160" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapStatementLineItems" xlink:to="loc_SHEPHPartnersCapitalUnitBasedCompensationExpense_160" xlink:type="arc" order="5" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants" xlink:label="loc_us-gaapStockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants_160" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapStatementLineItems" xlink:to="loc_us-gaapStockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants_160" xlink:type="arc" order="6" />
    </link:definitionLink>
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/StatementsOfCashFlows" xlink:title="00000006 - Statement - Consolidated Statements of Cash Flows" />
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/StatementsOfCashFlowsParenthetical" xlink:title="00000007 - Statement - Consolidated Statements of Cash Flows (Parenthetical)" />
    <link:definitionLink xlink:type="extended" xlink:role="http://xbrl.sec.gov/cyd/role/CybersecurityRiskManagementAndStrategyDisclosure" xlink:title="00000013 - Disclosure - Cybersecurity Risk Management and Strategy Disclosure" />
    <link:definitionLink xlink:type="extended" xlink:role="http://xbrl.sec.gov/cyd/role/MaterialCybersecurityIncidentDisclosure" xlink:title="00000014 - Disclosure - Material Cybersecurity Incident Disclosure" />
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/DescriptionOfBusiness" xlink:title="999015 - Disclosure - Description of Business" />
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/SummaryOfSignificantAccountingPolicies" xlink:title="999016 - Disclosure - Summary of Significant Accounting Policies" />
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/AcquisitionAndDisposal" xlink:title="999017 - Disclosure - Acquisition and Disposal" />
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/FairValue" xlink:title="999018 - Disclosure - Fair Value" />
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/SegmentReporting" xlink:title="999019 - Disclosure - Segment Reporting" />
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/RealEstateInvestmentAssets" xlink:title="999020 - Disclosure - Real Estate Investment Assets" />
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/LoansReceivablesNet" xlink:title="999021 - Disclosure - Loans Receivables, net" />
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/ForeclosedAssets" xlink:title="999022 - Disclosure - Foreclosed Assets" />
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/Borrowings" xlink:title="999023 - Disclosure - Borrowings" />
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/RefundablePrepaidInterest" xlink:title="999024 - Disclosure - Refundable Prepaid Interest" />
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/SeriesCPreferredEquity" xlink:title="999025 - Disclosure - Series C Preferred Equity" />
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/MembersCapital" xlink:title="999026 - Disclosure - Members&#8217; Capital" />
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/RelatedPartyTransactions" xlink:title="999027 - Disclosure - Related Party Transactions" />
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/CommitmentsAndContingencies" xlink:title="999028 - Disclosure - Commitments and Contingencies" />
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/Non-interestExpenseDetail" xlink:title="999029 - Disclosure - Non-Interest Expense Detail" />
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/PremisesAndEquipment" xlink:title="999030 - Disclosure - Premises and Equipment" />
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/SummaryOfSignificantAccountingPoliciesPolicies" xlink:title="999031 - Disclosure - Summary of Significant Accounting Policies (Policies)" />
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/SummaryOfSignificantAccountingPoliciesTables" xlink:title="999032 - Disclosure - Summary of Significant Accounting Policies (Tables)" />
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/AcquisitionAndDisposalTables" xlink:title="999033 - Disclosure - Acquisition and Disposal (Tables)" />
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/FairValueTables" xlink:title="999034 - Disclosure - Fair Value (Tables)" />
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/SegmentReportingTables" xlink:title="999035 - Disclosure - Segment Reporting (Tables)" />
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/RealEstateInvestmentAssetsTables" xlink:title="999036 - Disclosure - Real Estate Investment Assets (Tables)" />
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/LoansReceivablesNetTables" xlink:title="999037 - Disclosure - Loans Receivables, net (Tables)" />
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/ForeclosedAssetsTables" xlink:title="999038 - Disclosure - Foreclosed Assets (Tables)" />
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/BorrowingsTables" xlink:title="999039 - Disclosure - Borrowings (Tables)" />
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/RefundablePrepaidInterestTables" xlink:title="999040 - Disclosure - Refundable Prepaid Interest (Tables)" />
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/SeriesCPreferredEquityTables" xlink:title="999041 - Disclosure - Series C Preferred Equity (Tables)" />
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/RelatedPartyTransactionsTables" xlink:title="999042 - Disclosure - Related Party Transactions (Tables)" />
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/Non-interestExpenseDetailTables" xlink:title="999043 - Disclosure - Non-Interest Expense Detail (Tables)" />
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/PremisesAndEquipmentTables" xlink:title="999044 - Disclosure - Premises and Equipment (Tables)" />
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/SummaryOfConcentrationRisksDetails" xlink:title="999045 - Disclosure - Summary of Concentration Risks (Details)">
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ProductInformationLineItems" xlink:label="loc_us-gaapProductInformationLineItems" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ScheduleOfProductInformationTable" xlink:label="loc_us-gaapScheduleOfProductInformationTable" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xbrldt:contextElement="segment" xlink:from="loc_us-gaapProductInformationLineItems" xlink:to="loc_us-gaapScheduleOfProductInformationTable" xlink:type="arc" order="10" xbrldt:closed="true" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_MajorCustomersAxis" xlink:label="loc_srtMajorCustomersAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapScheduleOfProductInformationTable" xlink:to="loc_srtMajorCustomersAxis" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_NameOfMajorCustomerDomain" xlink:label="loc_srtNameOfMajorCustomerDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_srtMajorCustomersAxis" xlink:to="loc_srtNameOfMajorCustomerDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_NameOfMajorCustomerDomain" xlink:label="loc_srtNameOfMajorCustomerDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_srtMajorCustomersAxis" xlink:to="loc_srtNameOfMajorCustomerDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_HighestConcentrationRiskMember" xlink:label="loc_SHEPHHighestConcentrationRiskMember_0" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srtNameOfMajorCustomerDomain" xlink:to="loc_SHEPHHighestConcentrationRiskMember_0" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_SecondHighestConcentrationRiskMember" xlink:label="loc_SHEPHSecondHighestConcentrationRiskMember_20" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srtNameOfMajorCustomerDomain" xlink:to="loc_SHEPHSecondHighestConcentrationRiskMember_20" xlink:type="arc" order="21" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_ThirdHighestConcentrationRiskMember" xlink:label="loc_SHEPHThirdHighestConcentrationRiskMember_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srtNameOfMajorCustomerDomain" xlink:to="loc_SHEPHThirdHighestConcentrationRiskMember_40" xlink:type="arc" order="41" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ConcentrationRiskByBenchmarkAxis" xlink:label="loc_us-gaapConcentrationRiskByBenchmarkAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapScheduleOfProductInformationTable" xlink:to="loc_us-gaapConcentrationRiskByBenchmarkAxis" xlink:type="arc" order="2" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ConcentrationRiskBenchmarkDomain" xlink:label="loc_us-gaapConcentrationRiskBenchmarkDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaapConcentrationRiskByBenchmarkAxis" xlink:to="loc_us-gaapConcentrationRiskBenchmarkDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ConcentrationRiskBenchmarkDomain" xlink:label="loc_us-gaapConcentrationRiskBenchmarkDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_us-gaapConcentrationRiskByBenchmarkAxis" xlink:to="loc_us-gaapConcentrationRiskBenchmarkDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LoansReceivableMember" xlink:label="loc_us-gaapLoansReceivableMember_0" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapConcentrationRiskBenchmarkDomain" xlink:to="loc_us-gaapLoansReceivableMember_0" xlink:type="arc" order="2" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ConcentrationRiskByTypeAxis" xlink:label="loc_us-gaapConcentrationRiskByTypeAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapScheduleOfProductInformationTable" xlink:to="loc_us-gaapConcentrationRiskByTypeAxis" xlink:type="arc" order="3" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ConcentrationRiskTypeDomain" xlink:label="loc_us-gaapConcentrationRiskTypeDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaapConcentrationRiskByTypeAxis" xlink:to="loc_us-gaapConcentrationRiskTypeDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ConcentrationRiskTypeDomain" xlink:label="loc_us-gaapConcentrationRiskTypeDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_us-gaapConcentrationRiskByTypeAxis" xlink:to="loc_us-gaapConcentrationRiskTypeDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_CustomerConcentrationRiskMember" xlink:label="loc_us-gaapCustomerConcentrationRiskMember_0" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapConcentrationRiskTypeDomain" xlink:to="loc_us-gaapCustomerConcentrationRiskMember_0" xlink:type="arc" order="3" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ConcentrationRiskGeographic" xlink:label="loc_us-gaapConcentrationRiskGeographic_70" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapProductInformationLineItems" xlink:to="loc_us-gaapConcentrationRiskGeographic_70" xlink:type="arc" order="0" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ConcentrationRiskPercentage1" xlink:label="loc_us-gaapConcentrationRiskPercentage1_70" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapProductInformationLineItems" xlink:to="loc_us-gaapConcentrationRiskPercentage1_70" xlink:type="arc" order="1" />
    </link:definitionLink>
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/SummaryOfSignificantAccountingPoliciesDetailsNarrative" xlink:title="999046 - Disclosure - Summary of Significant Accounting Policies (Details Narrative)">
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PropertyPlantAndEquipmentLineItems" xlink:label="loc_us-gaapPropertyPlantAndEquipmentLineItems" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ScheduleOfPropertyPlantAndEquipmentTable" xlink:label="loc_us-gaapScheduleOfPropertyPlantAndEquipmentTable" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xbrldt:contextElement="segment" xlink:from="loc_us-gaapPropertyPlantAndEquipmentLineItems" xlink:to="loc_us-gaapScheduleOfPropertyPlantAndEquipmentTable" xlink:type="arc" order="10" xbrldt:closed="true" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_ConsolidatedEntitiesAxis" xlink:label="loc_srtConsolidatedEntitiesAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapScheduleOfPropertyPlantAndEquipmentTable" xlink:to="loc_srtConsolidatedEntitiesAxis" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_ConsolidatedEntitiesDomain" xlink:label="loc_srtConsolidatedEntitiesDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_srtConsolidatedEntitiesAxis" xlink:to="loc_srtConsolidatedEntitiesDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_ConsolidatedEntitiesDomain" xlink:label="loc_srtConsolidatedEntitiesDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_srtConsolidatedEntitiesAxis" xlink:to="loc_srtConsolidatedEntitiesDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_ThreeThirtyNineJustaboutLandCompanyLLCMember" xlink:label="loc_SHEPHThreeThirtyNineJustaboutLandCompanyLLCMember_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srtConsolidatedEntitiesDomain" xlink:to="loc_SHEPHThreeThirtyNineJustaboutLandCompanyLLCMember_10" xlink:type="arc" order="11" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_TypeOfArrangementAxis" xlink:label="loc_us-gaapTypeOfArrangementAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapScheduleOfPropertyPlantAndEquipmentTable" xlink:to="loc_us-gaapTypeOfArrangementAxis" xlink:type="arc" order="2" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ArrangementsAndNonarrangementTransactionsMember" xlink:label="loc_us-gaapArrangementsAndNonarrangementTransactionsMember" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaapTypeOfArrangementAxis" xlink:to="loc_us-gaapArrangementsAndNonarrangementTransactionsMember" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ArrangementsAndNonarrangementTransactionsMember" xlink:label="loc_us-gaapArrangementsAndNonarrangementTransactionsMember_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_us-gaapTypeOfArrangementAxis" xlink:to="loc_us-gaapArrangementsAndNonarrangementTransactionsMember_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_CreditAgreementMember" xlink:label="loc_SHEPHCreditAgreementMember_30" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapArrangementsAndNonarrangementTransactionsMember" xlink:to="loc_SHEPHCreditAgreementMember_30" xlink:type="arc" order="32" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_RangeAxis" xlink:label="loc_srtRangeAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapScheduleOfPropertyPlantAndEquipmentTable" xlink:to="loc_srtRangeAxis" xlink:type="arc" order="3" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_RangeMember" xlink:label="loc_srtRangeMember" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_srtRangeAxis" xlink:to="loc_srtRangeMember" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_RangeMember" xlink:label="loc_srtRangeMember_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_srtRangeAxis" xlink:to="loc_srtRangeMember_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_MinimumMember" xlink:label="loc_srtMinimumMember_60" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srtRangeMember" xlink:to="loc_srtMinimumMember_60" xlink:type="arc" order="61" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_MaximumMember" xlink:label="loc_srtMaximumMember_70" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srtRangeMember" xlink:to="loc_srtMaximumMember_70" xlink:type="arc" order="71" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_NumberOfReportableSegments" xlink:label="loc_us-gaapNumberOfReportableSegments_100" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapPropertyPlantAndEquipmentLineItems" xlink:to="loc_us-gaapNumberOfReportableSegments_100" xlink:type="arc" order="0" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_GainLossOnSaleOfStockInSubsidiaryOrEquityMethodInvestee" xlink:label="loc_us-gaapGainLossOnSaleOfStockInSubsidiaryOrEquityMethodInvestee_100" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapPropertyPlantAndEquipmentLineItems" xlink:to="loc_us-gaapGainLossOnSaleOfStockInSubsidiaryOrEquityMethodInvestee_100" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_GainLossOnSaleOfOtherAssets" xlink:label="loc_us-gaapGainLossOnSaleOfOtherAssets_100" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapPropertyPlantAndEquipmentLineItems" xlink:to="loc_us-gaapGainLossOnSaleOfOtherAssets_100" xlink:type="arc" order="2" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_SettlementLiabilitiesCurrent" xlink:label="loc_us-gaapSettlementLiabilitiesCurrent_100" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapPropertyPlantAndEquipmentLineItems" xlink:to="loc_us-gaapSettlementLiabilitiesCurrent_100" xlink:type="arc" order="3" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DeferredRevenue" xlink:label="loc_us-gaapDeferredRevenue_100" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapPropertyPlantAndEquipmentLineItems" xlink:to="loc_us-gaapDeferredRevenue_100" xlink:type="arc" order="4" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_GainLossOnDispositionOfAssets1" xlink:label="loc_us-gaapGainLossOnDispositionOfAssets1_100" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapPropertyPlantAndEquipmentLineItems" xlink:to="loc_us-gaapGainLossOnDispositionOfAssets1_100" xlink:type="arc" order="5" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_IncreaseDecreaseInSecuritiesBorrowed" xlink:label="loc_us-gaapIncreaseDecreaseInSecuritiesBorrowed_100" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapPropertyPlantAndEquipmentLineItems" xlink:to="loc_us-gaapIncreaseDecreaseInSecuritiesBorrowed_100" xlink:type="arc" order="6" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_EscrowDeposit" xlink:label="loc_us-gaapEscrowDeposit_100" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapPropertyPlantAndEquipmentLineItems" xlink:to="loc_us-gaapEscrowDeposit_100" xlink:type="arc" order="7" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_SettleOutstandingPayables" xlink:label="loc_SHEPHSettleOutstandingPayables_100" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapPropertyPlantAndEquipmentLineItems" xlink:to="loc_SHEPHSettleOutstandingPayables_100" xlink:type="arc" order="8" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AdvertisingExpense" xlink:label="loc_us-gaapAdvertisingExpense_100" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapPropertyPlantAndEquipmentLineItems" xlink:to="loc_us-gaapAdvertisingExpense_100" xlink:type="arc" order="9" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PercentageOfInterestBearingDomesticDepositsToDeposits" xlink:label="loc_us-gaapPercentageOfInterestBearingDomesticDepositsToDeposits_100" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapPropertyPlantAndEquipmentLineItems" xlink:to="loc_us-gaapPercentageOfInterestBearingDomesticDepositsToDeposits_100" xlink:type="arc" order="10" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_CostOfFundsRate" xlink:label="loc_SHEPHCostOfFundsRate_100" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapPropertyPlantAndEquipmentLineItems" xlink:to="loc_SHEPHCostOfFundsRate_100" xlink:type="arc" order="11" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PaymentsToAcquireProductiveAssets" xlink:label="loc_us-gaapPaymentsToAcquireProductiveAssets_100" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapPropertyPlantAndEquipmentLineItems" xlink:to="loc_us-gaapPaymentsToAcquireProductiveAssets_100" xlink:type="arc" order="12" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PropertyPlantAndEquipmentUsefulLife" xlink:label="loc_us-gaapPropertyPlantAndEquipmentUsefulLife_100" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapPropertyPlantAndEquipmentLineItems" xlink:to="loc_us-gaapPropertyPlantAndEquipmentUsefulLife_100" xlink:type="arc" order="13" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_EquipmentExpense" xlink:label="loc_us-gaapEquipmentExpense_100" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapPropertyPlantAndEquipmentLineItems" xlink:to="loc_us-gaapEquipmentExpense_100" xlink:type="arc" order="14" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_IncomeTaxInterestPenaltiesExpense" xlink:label="loc_SHEPHIncomeTaxInterestPenaltiesExpense_100" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapPropertyPlantAndEquipmentLineItems" xlink:to="loc_SHEPHIncomeTaxInterestPenaltiesExpense_100" xlink:type="arc" order="15" />
    </link:definitionLink>
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/ScheduleOfPurchasePriceToAssetsAndLiabilitiesDetails" xlink:title="999047 - Disclosure - Schedule of Purchase Price to Assets and Liabilities (Details)">
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_BusinessAcquisitionLineItems" xlink:label="loc_us-gaapBusinessAcquisitionLineItems" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable" xlink:label="loc_us-gaapScheduleOfBusinessAcquisitionsByAcquisitionTable" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xbrldt:contextElement="segment" xlink:from="loc_us-gaapBusinessAcquisitionLineItems" xlink:to="loc_us-gaapScheduleOfBusinessAcquisitionsByAcquisitionTable" xlink:type="arc" order="10" xbrldt:closed="true" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_BusinessAcquisitionAxis" xlink:label="loc_us-gaapBusinessAcquisitionAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapScheduleOfBusinessAcquisitionsByAcquisitionTable" xlink:to="loc_us-gaapBusinessAcquisitionAxis" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_BusinessAcquisitionAcquireeDomain" xlink:label="loc_us-gaapBusinessAcquisitionAcquireeDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaapBusinessAcquisitionAxis" xlink:to="loc_us-gaapBusinessAcquisitionAcquireeDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_BusinessAcquisitionAcquireeDomain" xlink:label="loc_us-gaapBusinessAcquisitionAcquireeDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_us-gaapBusinessAcquisitionAxis" xlink:to="loc_us-gaapBusinessAcquisitionAcquireeDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_JustaboutLandCoLLCMember" xlink:label="loc_SHEPHJustaboutLandCoLLCMember_0" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapBusinessAcquisitionAcquireeDomain" xlink:to="loc_SHEPHJustaboutLandCoLLCMember_0" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PaymentsToAcquireBusinessesGross" xlink:label="loc_us-gaapPaymentsToAcquireBusinessesGross_20" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapBusinessAcquisitionLineItems" xlink:to="loc_us-gaapPaymentsToAcquireBusinessesGross_20" xlink:type="arc" order="0" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_BusinessCombinationConsiderationTransferredLiabilitiesIncurred" xlink:label="loc_us-gaapBusinessCombinationConsiderationTransferredLiabilitiesIncurred_20" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapBusinessAcquisitionLineItems" xlink:to="loc_us-gaapBusinessCombinationConsiderationTransferredLiabilitiesIncurred_20" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_BusinessCombinationConsiderationTransferredRepaymentsOfDebt" xlink:label="loc_SHEPHBusinessCombinationConsiderationTransferredRepaymentsOfDebt_20" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapBusinessAcquisitionLineItems" xlink:to="loc_SHEPHBusinessCombinationConsiderationTransferredRepaymentsOfDebt_20" xlink:type="arc" order="2" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_BusinessCombinationConsiderationTransferred1" xlink:label="loc_us-gaapBusinessCombinationConsiderationTransferred1_20" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapBusinessAcquisitionLineItems" xlink:to="loc_us-gaapBusinessCombinationConsiderationTransferred1_20" xlink:type="arc" order="3" />
    </link:definitionLink>
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/ScheduleOfAcquiredAssetsAndAssumedLiabilitiesDetails" xlink:title="999048 - Disclosure - Schedule of Acquired Assets and Assumed Liabilities (Details)">
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_BusinessAcquisitionLineItems" xlink:label="loc_us-gaapBusinessAcquisitionLineItems" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable" xlink:label="loc_us-gaapScheduleOfBusinessAcquisitionsByAcquisitionTable" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xbrldt:contextElement="segment" xlink:from="loc_us-gaapBusinessAcquisitionLineItems" xlink:to="loc_us-gaapScheduleOfBusinessAcquisitionsByAcquisitionTable" xlink:type="arc" order="10" xbrldt:closed="true" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_BusinessAcquisitionAxis" xlink:label="loc_us-gaapBusinessAcquisitionAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapScheduleOfBusinessAcquisitionsByAcquisitionTable" xlink:to="loc_us-gaapBusinessAcquisitionAxis" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_BusinessAcquisitionAcquireeDomain" xlink:label="loc_us-gaapBusinessAcquisitionAcquireeDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaapBusinessAcquisitionAxis" xlink:to="loc_us-gaapBusinessAcquisitionAcquireeDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_BusinessAcquisitionAcquireeDomain" xlink:label="loc_us-gaapBusinessAcquisitionAcquireeDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_us-gaapBusinessAcquisitionAxis" xlink:to="loc_us-gaapBusinessAcquisitionAcquireeDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_JustaboutLandCoLLCMember" xlink:label="loc_SHEPHJustaboutLandCoLLCMember_0" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapBusinessAcquisitionAcquireeDomain" xlink:to="loc_SHEPHJustaboutLandCoLLCMember_0" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_BusinessCombinationConsiderationTransferred1" xlink:label="loc_us-gaapBusinessCombinationConsiderationTransferred1_30" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapBusinessAcquisitionLineItems" xlink:to="loc_us-gaapBusinessCombinationConsiderationTransferred1_30" xlink:type="arc" order="0" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents" xlink:label="loc_us-gaapBusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents_30" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapBusinessAcquisitionLineItems" xlink:to="loc_us-gaapBusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents_30" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedRealEstateInvestments" xlink:label="loc_SHEPHBusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedRealEstateInvestments_30" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapBusinessAcquisitionLineItems" xlink:to="loc_SHEPHBusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedRealEstateInvestments_30" xlink:type="arc" order="2" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets" xlink:label="loc_us-gaapBusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets_30" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapBusinessAcquisitionLineItems" xlink:to="loc_us-gaapBusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets_30" xlink:type="arc" order="3" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilities" xlink:label="loc_us-gaapBusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilities_30" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapBusinessAcquisitionLineItems" xlink:to="loc_us-gaapBusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilities_30" xlink:type="arc" order="4" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilities" xlink:label="loc_us-gaapBusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilities_30" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapBusinessAcquisitionLineItems" xlink:to="loc_us-gaapBusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilities_30" xlink:type="arc" order="5" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities" xlink:label="loc_us-gaapBusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities_30" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapBusinessAcquisitionLineItems" xlink:to="loc_us-gaapBusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities_30" xlink:type="arc" order="6" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet" xlink:label="loc_us-gaapBusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_30" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapBusinessAcquisitionLineItems" xlink:to="loc_us-gaapBusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_30" xlink:type="arc" order="7" />
    </link:definitionLink>
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/AcquisitionAndDisposalDetailsNarrative" xlink:title="999049 - Disclosure - Acquisition and Disposal (Details Narrative)">
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_BusinessAcquisitionLineItems" xlink:label="loc_us-gaapBusinessAcquisitionLineItems" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable" xlink:label="loc_us-gaapScheduleOfBusinessAcquisitionsByAcquisitionTable" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xbrldt:contextElement="segment" xlink:from="loc_us-gaapBusinessAcquisitionLineItems" xlink:to="loc_us-gaapScheduleOfBusinessAcquisitionsByAcquisitionTable" xlink:type="arc" order="10" xbrldt:closed="true" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_BusinessAcquisitionAxis" xlink:label="loc_us-gaapBusinessAcquisitionAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapScheduleOfBusinessAcquisitionsByAcquisitionTable" xlink:to="loc_us-gaapBusinessAcquisitionAxis" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_BusinessAcquisitionAcquireeDomain" xlink:label="loc_us-gaapBusinessAcquisitionAcquireeDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaapBusinessAcquisitionAxis" xlink:to="loc_us-gaapBusinessAcquisitionAcquireeDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_BusinessAcquisitionAcquireeDomain" xlink:label="loc_us-gaapBusinessAcquisitionAcquireeDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_us-gaapBusinessAcquisitionAxis" xlink:to="loc_us-gaapBusinessAcquisitionAcquireeDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_JustaboutLandCoLLCMember" xlink:label="loc_SHEPHJustaboutLandCoLLCMember_0" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapBusinessAcquisitionAcquireeDomain" xlink:to="loc_SHEPHJustaboutLandCoLLCMember_0" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_BenjaminMarcusHomesLLCMember" xlink:label="loc_SHEPHBenjaminMarcusHomesLLCMember_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapBusinessAcquisitionAcquireeDomain" xlink:to="loc_SHEPHBenjaminMarcusHomesLLCMember_10" xlink:type="arc" order="11" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_ConsolidatedEntitiesAxis" xlink:label="loc_srtConsolidatedEntitiesAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapScheduleOfBusinessAcquisitionsByAcquisitionTable" xlink:to="loc_srtConsolidatedEntitiesAxis" xlink:type="arc" order="2" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_ConsolidatedEntitiesDomain" xlink:label="loc_srtConsolidatedEntitiesDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_srtConsolidatedEntitiesAxis" xlink:to="loc_srtConsolidatedEntitiesDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_ConsolidatedEntitiesDomain" xlink:label="loc_srtConsolidatedEntitiesDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_srtConsolidatedEntitiesAxis" xlink:to="loc_srtConsolidatedEntitiesDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_ThreeThirtyNineJustaboutLandCompanyLLCMember" xlink:label="loc_SHEPHThreeThirtyNineJustaboutLandCompanyLLCMember_30" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srtConsolidatedEntitiesDomain" xlink:to="loc_SHEPHThreeThirtyNineJustaboutLandCompanyLLCMember_30" xlink:type="arc" order="31" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_TypeOfArrangementAxis" xlink:label="loc_us-gaapTypeOfArrangementAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapScheduleOfBusinessAcquisitionsByAcquisitionTable" xlink:to="loc_us-gaapTypeOfArrangementAxis" xlink:type="arc" order="3" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ArrangementsAndNonarrangementTransactionsMember" xlink:label="loc_us-gaapArrangementsAndNonarrangementTransactionsMember" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaapTypeOfArrangementAxis" xlink:to="loc_us-gaapArrangementsAndNonarrangementTransactionsMember" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ArrangementsAndNonarrangementTransactionsMember" xlink:label="loc_us-gaapArrangementsAndNonarrangementTransactionsMember_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_us-gaapTypeOfArrangementAxis" xlink:to="loc_us-gaapArrangementsAndNonarrangementTransactionsMember_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_CreditAgreementMember" xlink:label="loc_SHEPHCreditAgreementMember_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapArrangementsAndNonarrangementTransactionsMember" xlink:to="loc_SHEPHCreditAgreementMember_50" xlink:type="arc" order="52" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_BusinessAcquisitionEffectiveDateOfAcquisition1" xlink:label="loc_us-gaapBusinessAcquisitionEffectiveDateOfAcquisition1_80" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapBusinessAcquisitionLineItems" xlink:to="loc_us-gaapBusinessAcquisitionEffectiveDateOfAcquisition1_80" xlink:type="arc" order="0" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_BusinessAcquisitionNameOfAcquiredEntity" xlink:label="loc_us-gaapBusinessAcquisitionNameOfAcquiredEntity_80" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapBusinessAcquisitionLineItems" xlink:to="loc_us-gaapBusinessAcquisitionNameOfAcquiredEntity_80" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_BusinessCombinationConsiderationTransferred1" xlink:label="loc_us-gaapBusinessCombinationConsiderationTransferred1_80" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapBusinessAcquisitionLineItems" xlink:to="loc_us-gaapBusinessCombinationConsiderationTransferred1_80" xlink:type="arc" order="2" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired" xlink:label="loc_us-gaapPaymentsToAcquireBusinessesNetOfCashAcquired_80" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapBusinessAcquisitionLineItems" xlink:to="loc_us-gaapPaymentsToAcquireBusinessesNetOfCashAcquired_80" xlink:type="arc" order="3" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_OptionFee" xlink:label="loc_SHEPHOptionFee_80" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapBusinessAcquisitionLineItems" xlink:to="loc_SHEPHOptionFee_80" xlink:type="arc" order="4" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DeferredRevenue" xlink:label="loc_us-gaapDeferredRevenue_80" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapBusinessAcquisitionLineItems" xlink:to="loc_us-gaapDeferredRevenue_80" xlink:type="arc" order="5" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_GainLossOnSaleOfStockInSubsidiaryOrEquityMethodInvestee" xlink:label="loc_us-gaapGainLossOnSaleOfStockInSubsidiaryOrEquityMethodInvestee_80" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapBusinessAcquisitionLineItems" xlink:to="loc_us-gaapGainLossOnSaleOfStockInSubsidiaryOrEquityMethodInvestee_80" xlink:type="arc" order="6" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_GainLossOnSaleOfOtherAssets" xlink:label="loc_us-gaapGainLossOnSaleOfOtherAssets_80" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapBusinessAcquisitionLineItems" xlink:to="loc_us-gaapGainLossOnSaleOfOtherAssets_80" xlink:type="arc" order="7" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_SettlementLiabilitiesCurrent" xlink:label="loc_us-gaapSettlementLiabilitiesCurrent_80" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapBusinessAcquisitionLineItems" xlink:to="loc_us-gaapSettlementLiabilitiesCurrent_80" xlink:type="arc" order="8" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_GainLossOnDispositionOfAssets1" xlink:label="loc_us-gaapGainLossOnDispositionOfAssets1_80" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapBusinessAcquisitionLineItems" xlink:to="loc_us-gaapGainLossOnDispositionOfAssets1_80" xlink:type="arc" order="9" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_IncreaseDecreaseInSecuritiesBorrowed" xlink:label="loc_us-gaapIncreaseDecreaseInSecuritiesBorrowed_80" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapBusinessAcquisitionLineItems" xlink:to="loc_us-gaapIncreaseDecreaseInSecuritiesBorrowed_80" xlink:type="arc" order="10" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_EscrowDeposit" xlink:label="loc_us-gaapEscrowDeposit_80" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapBusinessAcquisitionLineItems" xlink:to="loc_us-gaapEscrowDeposit_80" xlink:type="arc" order="11" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_SettleOutstandingPayables" xlink:label="loc_SHEPHSettleOutstandingPayables_80" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapBusinessAcquisitionLineItems" xlink:to="loc_SHEPHSettleOutstandingPayables_80" xlink:type="arc" order="12" />
    </link:definitionLink>
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/ScheduleOfNon-financialInstrumentsMeasuredAtFairValueOnNon-recurringBasisDetails" xlink:title="999050 - Disclosure - Schedule of Non-financial Instruments Measured at Fair Value on Non-recurring Basis (Details)">
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems" xlink:label="loc_us-gaapFairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FairValueByBalanceSheetGroupingTable" xlink:label="loc_us-gaapFairValueByBalanceSheetGroupingTable" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xbrldt:contextElement="segment" xlink:from="loc_us-gaapFairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems" xlink:to="loc_us-gaapFairValueByBalanceSheetGroupingTable" xlink:type="arc" order="10" xbrldt:closed="true" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FairValueByMeasurementBasisAxis" xlink:label="loc_us-gaapFairValueByMeasurementBasisAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapFairValueByBalanceSheetGroupingTable" xlink:to="loc_us-gaapFairValueByMeasurementBasisAxis" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PortionAtFairValueFairValueDisclosureMember" xlink:label="loc_us-gaapPortionAtFairValueFairValueDisclosureMember" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaapFairValueByMeasurementBasisAxis" xlink:to="loc_us-gaapPortionAtFairValueFairValueDisclosureMember" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PortionAtFairValueFairValueDisclosureMember" xlink:label="loc_us-gaapPortionAtFairValueFairValueDisclosureMember_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_us-gaapFairValueByMeasurementBasisAxis" xlink:to="loc_us-gaapPortionAtFairValueFairValueDisclosureMember_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_CarryingReportedAmountFairValueDisclosureMember" xlink:label="loc_us-gaapCarryingReportedAmountFairValueDisclosureMember_0" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapPortionAtFairValueFairValueDisclosureMember" xlink:to="loc_us-gaapCarryingReportedAmountFairValueDisclosureMember_0" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_EstimateOfFairValueFairValueDisclosureMember" xlink:label="loc_us-gaapEstimateOfFairValueFairValueDisclosureMember_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapPortionAtFairValueFairValueDisclosureMember" xlink:to="loc_us-gaapEstimateOfFairValueFairValueDisclosureMember_10" xlink:type="arc" order="11" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FairValueByFairValueHierarchyLevelAxis" xlink:label="loc_us-gaapFairValueByFairValueHierarchyLevelAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapFairValueByBalanceSheetGroupingTable" xlink:to="loc_us-gaapFairValueByFairValueHierarchyLevelAxis" xlink:type="arc" order="2" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xlink:label="loc_us-gaapFairValueMeasurementsFairValueHierarchyDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaapFairValueByFairValueHierarchyLevelAxis" xlink:to="loc_us-gaapFairValueMeasurementsFairValueHierarchyDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xlink:label="loc_us-gaapFairValueMeasurementsFairValueHierarchyDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_us-gaapFairValueByFairValueHierarchyLevelAxis" xlink:to="loc_us-gaapFairValueMeasurementsFairValueHierarchyDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FairValueInputsLevel1Member" xlink:label="loc_us-gaapFairValueInputsLevel1Member_20" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFairValueMeasurementsFairValueHierarchyDomain" xlink:to="loc_us-gaapFairValueInputsLevel1Member_20" xlink:type="arc" order="21" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FairValueInputsLevel2Member" xlink:label="loc_us-gaapFairValueInputsLevel2Member_30" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFairValueMeasurementsFairValueHierarchyDomain" xlink:to="loc_us-gaapFairValueInputsLevel2Member_30" xlink:type="arc" order="31" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FairValueInputsLevel3Member" xlink:label="loc_us-gaapFairValueInputsLevel3Member_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFairValueMeasurementsFairValueHierarchyDomain" xlink:to="loc_us-gaapFairValueInputsLevel3Member_40" xlink:type="arc" order="41" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ForeclosedAssets" xlink:label="loc_us-gaapForeclosedAssets_110" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems" xlink:to="loc_us-gaapForeclosedAssets_110" xlink:type="arc" order="0" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_OtherImpairedLoansNet" xlink:label="loc_SHEPHOtherImpairedLoansNet_110" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems" xlink:to="loc_SHEPHOtherImpairedLoansNet_110" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AssetsFairValueDisclosure" xlink:label="loc_us-gaapAssetsFairValueDisclosure_110" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems" xlink:to="loc_us-gaapAssetsFairValueDisclosure_110" xlink:type="arc" order="2" />
    </link:definitionLink>
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/ScheduleOfEstimatingFairValueOfAssetsAndLiabilitiesValuedOnNonrecurringBasisDetails" xlink:title="999051 - Disclosure - Schedule of Estimating the Fair Value of Assets and Liabilities Valued on a Nonrecurring basis (Details)">
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesLineItems" xlink:label="loc_us-gaapFairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesLineItems" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTable" xlink:label="loc_us-gaapFairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTable" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xbrldt:contextElement="segment" xlink:from="loc_us-gaapFairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesLineItems" xlink:to="loc_us-gaapFairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTable" xlink:type="arc" order="10" xbrldt:closed="true" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FairValueByMeasurementBasisAxis" xlink:label="loc_us-gaapFairValueByMeasurementBasisAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapFairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTable" xlink:to="loc_us-gaapFairValueByMeasurementBasisAxis" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PortionAtFairValueFairValueDisclosureMember" xlink:label="loc_us-gaapPortionAtFairValueFairValueDisclosureMember" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaapFairValueByMeasurementBasisAxis" xlink:to="loc_us-gaapPortionAtFairValueFairValueDisclosureMember" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PortionAtFairValueFairValueDisclosureMember" xlink:label="loc_us-gaapPortionAtFairValueFairValueDisclosureMember_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_us-gaapFairValueByMeasurementBasisAxis" xlink:to="loc_us-gaapPortionAtFairValueFairValueDisclosureMember_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_EstimateOfFairValueFairValueDisclosureMember" xlink:label="loc_us-gaapEstimateOfFairValueFairValueDisclosureMember_0" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapPortionAtFairValueFairValueDisclosureMember" xlink:to="loc_us-gaapEstimateOfFairValueFairValueDisclosureMember_0" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ValuationTechniqueAxis" xlink:label="loc_us-gaapValuationTechniqueAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapFairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTable" xlink:to="loc_us-gaapValuationTechniqueAxis" xlink:type="arc" order="2" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ValuationTechniqueDomain" xlink:label="loc_us-gaapValuationTechniqueDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaapValuationTechniqueAxis" xlink:to="loc_us-gaapValuationTechniqueDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ValuationTechniqueDomain" xlink:label="loc_us-gaapValuationTechniqueDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_us-gaapValuationTechniqueAxis" xlink:to="loc_us-gaapValuationTechniqueDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ValuationTechniqueDiscountedCashFlowMember" xlink:label="loc_us-gaapValuationTechniqueDiscountedCashFlowMember_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapValuationTechniqueDomain" xlink:to="loc_us-gaapValuationTechniqueDiscountedCashFlowMember_10" xlink:type="arc" order="11" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_MeasurementInputTypeAxis" xlink:label="loc_us-gaapMeasurementInputTypeAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapFairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTable" xlink:to="loc_us-gaapMeasurementInputTypeAxis" xlink:type="arc" order="3" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_MeasurementInputTypeDomain" xlink:label="loc_us-gaapMeasurementInputTypeDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaapMeasurementInputTypeAxis" xlink:to="loc_us-gaapMeasurementInputTypeDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_MeasurementInputTypeDomain" xlink:label="loc_us-gaapMeasurementInputTypeDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_us-gaapMeasurementInputTypeAxis" xlink:to="loc_us-gaapMeasurementInputTypeDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_MeasurementInputCollateralDiscountsAndEstimatedCostsToSellMember" xlink:label="loc_SHEPHMeasurementInputCollateralDiscountsAndEstimatedCostsToSellMember_20" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapMeasurementInputTypeDomain" xlink:to="loc_SHEPHMeasurementInputCollateralDiscountsAndEstimatedCostsToSellMember_20" xlink:type="arc" order="21" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_MeasurementInputDiscountRateMember" xlink:label="loc_us-gaapMeasurementInputDiscountRateMember_30" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapMeasurementInputTypeDomain" xlink:to="loc_us-gaapMeasurementInputDiscountRateMember_30" xlink:type="arc" order="31" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_MeasurementInputWeightedAverageDiscountMember" xlink:label="loc_SHEPHMeasurementInputWeightedAverageDiscountMember_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapMeasurementInputTypeDomain" xlink:to="loc_SHEPHMeasurementInputWeightedAverageDiscountMember_50" xlink:type="arc" order="51" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_MeasurementInputCollateralDiscountsMember" xlink:label="loc_SHEPHMeasurementInputCollateralDiscountsMember_60" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapMeasurementInputTypeDomain" xlink:to="loc_SHEPHMeasurementInputCollateralDiscountsMember_60" xlink:type="arc" order="61" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_RangeAxis" xlink:label="loc_srtRangeAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapFairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTable" xlink:to="loc_srtRangeAxis" xlink:type="arc" order="4" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_RangeMember" xlink:label="loc_srtRangeMember" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_srtRangeAxis" xlink:to="loc_srtRangeMember" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_RangeMember" xlink:label="loc_srtRangeMember_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_srtRangeAxis" xlink:to="loc_srtRangeMember_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_MinimumMember" xlink:label="loc_srtMinimumMember_30" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srtRangeMember" xlink:to="loc_srtMinimumMember_30" xlink:type="arc" order="32" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_MaximumMember" xlink:label="loc_srtMaximumMember_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srtRangeMember" xlink:to="loc_srtMaximumMember_40" xlink:type="arc" order="42" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_OtherImpairedLoansNet" xlink:label="loc_SHEPHOtherImpairedLoansNet_160" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesLineItems" xlink:to="loc_SHEPHOtherImpairedLoansNet_160" xlink:type="arc" order="0" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_OtherImpairedLoansDescription" xlink:label="loc_SHEPHOtherImpairedLoansDescription_160" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesLineItems" xlink:to="loc_SHEPHOtherImpairedLoansDescription_160" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DerivativeLiabilityMeasurementInput" xlink:label="loc_us-gaapDerivativeLiabilityMeasurementInput_160" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesLineItems" xlink:to="loc_us-gaapDerivativeLiabilityMeasurementInput_160" xlink:type="arc" order="2" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ForeclosedAssets" xlink:label="loc_us-gaapForeclosedAssets_160" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesLineItems" xlink:to="loc_us-gaapForeclosedAssets_160" xlink:type="arc" order="3" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_ForeclosedAssetsDescription" xlink:label="loc_SHEPHForeclosedAssetsDescription_160" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesLineItems" xlink:to="loc_SHEPHForeclosedAssetsDescription_160" xlink:type="arc" order="4" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DerivativeAssetMeasurementInput" xlink:label="loc_us-gaapDerivativeAssetMeasurementInput_160" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesLineItems" xlink:to="loc_us-gaapDerivativeAssetMeasurementInput_160" xlink:type="arc" order="5" />
    </link:definitionLink>
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/ScheduleOfFairValueEstimatesForFinancialInstrumentsDetails" xlink:title="999052 - Disclosure - Schedule of Fair Value Estimates for Financial Instruments (Details)">
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems" xlink:label="loc_us-gaapFairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FairValueByBalanceSheetGroupingTable" xlink:label="loc_us-gaapFairValueByBalanceSheetGroupingTable" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xbrldt:contextElement="segment" xlink:from="loc_us-gaapFairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems" xlink:to="loc_us-gaapFairValueByBalanceSheetGroupingTable" xlink:type="arc" order="10" xbrldt:closed="true" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FairValueByMeasurementBasisAxis" xlink:label="loc_us-gaapFairValueByMeasurementBasisAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapFairValueByBalanceSheetGroupingTable" xlink:to="loc_us-gaapFairValueByMeasurementBasisAxis" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PortionAtFairValueFairValueDisclosureMember" xlink:label="loc_us-gaapPortionAtFairValueFairValueDisclosureMember" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaapFairValueByMeasurementBasisAxis" xlink:to="loc_us-gaapPortionAtFairValueFairValueDisclosureMember" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PortionAtFairValueFairValueDisclosureMember" xlink:label="loc_us-gaapPortionAtFairValueFairValueDisclosureMember_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_us-gaapFairValueByMeasurementBasisAxis" xlink:to="loc_us-gaapPortionAtFairValueFairValueDisclosureMember_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_CarryingReportedAmountFairValueDisclosureMember" xlink:label="loc_us-gaapCarryingReportedAmountFairValueDisclosureMember_0" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapPortionAtFairValueFairValueDisclosureMember" xlink:to="loc_us-gaapCarryingReportedAmountFairValueDisclosureMember_0" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_EstimateOfFairValueFairValueDisclosureMember" xlink:label="loc_us-gaapEstimateOfFairValueFairValueDisclosureMember_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapPortionAtFairValueFairValueDisclosureMember" xlink:to="loc_us-gaapEstimateOfFairValueFairValueDisclosureMember_10" xlink:type="arc" order="11" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FairValueByFairValueHierarchyLevelAxis" xlink:label="loc_us-gaapFairValueByFairValueHierarchyLevelAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapFairValueByBalanceSheetGroupingTable" xlink:to="loc_us-gaapFairValueByFairValueHierarchyLevelAxis" xlink:type="arc" order="2" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xlink:label="loc_us-gaapFairValueMeasurementsFairValueHierarchyDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaapFairValueByFairValueHierarchyLevelAxis" xlink:to="loc_us-gaapFairValueMeasurementsFairValueHierarchyDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xlink:label="loc_us-gaapFairValueMeasurementsFairValueHierarchyDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_us-gaapFairValueByFairValueHierarchyLevelAxis" xlink:to="loc_us-gaapFairValueMeasurementsFairValueHierarchyDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FairValueInputsLevel1Member" xlink:label="loc_us-gaapFairValueInputsLevel1Member_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFairValueMeasurementsFairValueHierarchyDomain" xlink:to="loc_us-gaapFairValueInputsLevel1Member_40" xlink:type="arc" order="42" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FairValueInputsLevel2Member" xlink:label="loc_us-gaapFairValueInputsLevel2Member_80" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFairValueMeasurementsFairValueHierarchyDomain" xlink:to="loc_us-gaapFairValueInputsLevel2Member_80" xlink:type="arc" order="82" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FairValueInputsLevel3Member" xlink:label="loc_us-gaapFairValueInputsLevel3Member_120" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFairValueMeasurementsFairValueHierarchyDomain" xlink:to="loc_us-gaapFairValueInputsLevel3Member_120" xlink:type="arc" order="122" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LongtermDebtTypeAxis" xlink:label="loc_us-gaapLongtermDebtTypeAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapFairValueByBalanceSheetGroupingTable" xlink:to="loc_us-gaapLongtermDebtTypeAxis" xlink:type="arc" order="3" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LongtermDebtTypeDomain" xlink:label="loc_us-gaapLongtermDebtTypeDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaapLongtermDebtTypeAxis" xlink:to="loc_us-gaapLongtermDebtTypeDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LongtermDebtTypeDomain" xlink:label="loc_us-gaapLongtermDebtTypeDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_us-gaapLongtermDebtTypeAxis" xlink:to="loc_us-gaapLongtermDebtTypeDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_SecuredDebtMember" xlink:label="loc_us-gaapSecuredDebtMember_160" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapLongtermDebtTypeDomain" xlink:to="loc_us-gaapSecuredDebtMember_160" xlink:type="arc" order="162" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_UnsecuredDebtMember" xlink:label="loc_us-gaapUnsecuredDebtMember_200" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapLongtermDebtTypeDomain" xlink:to="loc_us-gaapUnsecuredDebtMember_200" xlink:type="arc" order="202" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AssetsFairValueDisclosureAbstract" xlink:label="loc_us-gaapAssetsFairValueDisclosureAbstract_250" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems" xlink:to="loc_us-gaapAssetsFairValueDisclosureAbstract_250" xlink:type="arc" order="0" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_CashAndCashEquivalentsFairValueDisclosure" xlink:label="loc_us-gaapCashAndCashEquivalentsFairValueDisclosure_250" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapAssetsFairValueDisclosureAbstract_250" xlink:to="loc_us-gaapCashAndCashEquivalentsFairValueDisclosure_250" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_OtherInvestments" xlink:label="loc_us-gaapOtherInvestments_250" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapAssetsFairValueDisclosureAbstract_250" xlink:to="loc_us-gaapOtherInvestments_250" xlink:type="arc" order="2" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LoansReceivableFairValueDisclosure" xlink:label="loc_us-gaapLoansReceivableFairValueDisclosure_250" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapAssetsFairValueDisclosureAbstract_250" xlink:to="loc_us-gaapLoansReceivableFairValueDisclosure_250" xlink:type="arc" order="3" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_InterestReceivableFairValueDisclosure" xlink:label="loc_SHEPHInterestReceivableFairValueDisclosure_250" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapAssetsFairValueDisclosureAbstract_250" xlink:to="loc_SHEPHInterestReceivableFairValueDisclosure_250" xlink:type="arc" order="4" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LiabilitiesFairValueDisclosureAbstract" xlink:label="loc_us-gaapLiabilitiesFairValueDisclosureAbstract_250" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapAssetsFairValueDisclosureAbstract_250" xlink:to="loc_us-gaapLiabilitiesFairValueDisclosureAbstract_250" xlink:type="arc" order="5" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_RefundablePrepaidInterest" xlink:label="loc_SHEPHRefundablePrepaidInterest_250" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapAssetsFairValueDisclosureAbstract_250" xlink:to="loc_SHEPHRefundablePrepaidInterest_250" xlink:type="arc" order="6" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DepositsFairValueDisclosure" xlink:label="loc_us-gaapDepositsFairValueDisclosure_250" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapAssetsFairValueDisclosureAbstract_250" xlink:to="loc_us-gaapDepositsFairValueDisclosure_250" xlink:type="arc" order="7" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_NotesPayableFairValueDisclosure" xlink:label="loc_us-gaapNotesPayableFairValueDisclosure_250" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapAssetsFairValueDisclosureAbstract_250" xlink:to="loc_us-gaapNotesPayableFairValueDisclosure_250" xlink:type="arc" order="8" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_InterestPayableFairValueDisclosure" xlink:label="loc_SHEPHInterestPayableFairValueDisclosure_250" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapAssetsFairValueDisclosureAbstract_250" xlink:to="loc_SHEPHInterestPayableFairValueDisclosure_250" xlink:type="arc" order="9" />
    </link:definitionLink>
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/SegmentReportingDetailsNarrative" xlink:title="999053 - Disclosure - Segment Reporting (Details Narrative)">
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_SegmentReportingInformationLineItems" xlink:label="loc_us-gaapSegmentReportingInformationLineItems" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable" xlink:label="loc_us-gaapScheduleOfSegmentReportingInformationBySegmentTable" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xbrldt:contextElement="segment" xlink:from="loc_us-gaapSegmentReportingInformationLineItems" xlink:to="loc_us-gaapScheduleOfSegmentReportingInformationBySegmentTable" xlink:type="arc" order="10" xbrldt:closed="true" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_ConsolidatedEntitiesAxis" xlink:label="loc_srtConsolidatedEntitiesAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapScheduleOfSegmentReportingInformationBySegmentTable" xlink:to="loc_srtConsolidatedEntitiesAxis" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_ConsolidatedEntitiesDomain" xlink:label="loc_srtConsolidatedEntitiesDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_srtConsolidatedEntitiesAxis" xlink:to="loc_srtConsolidatedEntitiesDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_ConsolidatedEntitiesDomain" xlink:label="loc_srtConsolidatedEntitiesDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_srtConsolidatedEntitiesAxis" xlink:to="loc_srtConsolidatedEntitiesDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_ThreeThirtyNineJustaboutLandCompanyLLCMember" xlink:label="loc_SHEPHThreeThirtyNineJustaboutLandCompanyLLCMember_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srtConsolidatedEntitiesDomain" xlink:to="loc_SHEPHThreeThirtyNineJustaboutLandCompanyLLCMember_10" xlink:type="arc" order="11" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_TypeOfArrangementAxis" xlink:label="loc_us-gaapTypeOfArrangementAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapScheduleOfSegmentReportingInformationBySegmentTable" xlink:to="loc_us-gaapTypeOfArrangementAxis" xlink:type="arc" order="2" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ArrangementsAndNonarrangementTransactionsMember" xlink:label="loc_us-gaapArrangementsAndNonarrangementTransactionsMember" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaapTypeOfArrangementAxis" xlink:to="loc_us-gaapArrangementsAndNonarrangementTransactionsMember" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ArrangementsAndNonarrangementTransactionsMember" xlink:label="loc_us-gaapArrangementsAndNonarrangementTransactionsMember_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_us-gaapTypeOfArrangementAxis" xlink:to="loc_us-gaapArrangementsAndNonarrangementTransactionsMember_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_CreditAgreementMember" xlink:label="loc_SHEPHCreditAgreementMember_30" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapArrangementsAndNonarrangementTransactionsMember" xlink:to="loc_SHEPHCreditAgreementMember_30" xlink:type="arc" order="32" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_NumberOfReportableSegments" xlink:label="loc_us-gaapNumberOfReportableSegments_60" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapSegmentReportingInformationLineItems" xlink:to="loc_us-gaapNumberOfReportableSegments_60" xlink:type="arc" order="0" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_GainLossOnSaleOfStockInSubsidiaryOrEquityMethodInvestee" xlink:label="loc_us-gaapGainLossOnSaleOfStockInSubsidiaryOrEquityMethodInvestee_60" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapSegmentReportingInformationLineItems" xlink:to="loc_us-gaapGainLossOnSaleOfStockInSubsidiaryOrEquityMethodInvestee_60" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_GainLossOnSaleOfOtherAssets" xlink:label="loc_us-gaapGainLossOnSaleOfOtherAssets_60" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapSegmentReportingInformationLineItems" xlink:to="loc_us-gaapGainLossOnSaleOfOtherAssets_60" xlink:type="arc" order="2" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_SettlementLiabilitiesCurrent" xlink:label="loc_us-gaapSettlementLiabilitiesCurrent_60" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapSegmentReportingInformationLineItems" xlink:to="loc_us-gaapSettlementLiabilitiesCurrent_60" xlink:type="arc" order="3" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DeferredRevenue" xlink:label="loc_us-gaapDeferredRevenue_60" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapSegmentReportingInformationLineItems" xlink:to="loc_us-gaapDeferredRevenue_60" xlink:type="arc" order="4" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_GainLossOnDispositionOfAssets1" xlink:label="loc_us-gaapGainLossOnDispositionOfAssets1_60" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapSegmentReportingInformationLineItems" xlink:to="loc_us-gaapGainLossOnDispositionOfAssets1_60" xlink:type="arc" order="5" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_IncreaseDecreaseInSecuritiesBorrowed" xlink:label="loc_us-gaapIncreaseDecreaseInSecuritiesBorrowed_60" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapSegmentReportingInformationLineItems" xlink:to="loc_us-gaapIncreaseDecreaseInSecuritiesBorrowed_60" xlink:type="arc" order="6" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_EscrowDeposit" xlink:label="loc_us-gaapEscrowDeposit_60" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapSegmentReportingInformationLineItems" xlink:to="loc_us-gaapEscrowDeposit_60" xlink:type="arc" order="7" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_SettleOutstandingPayables" xlink:label="loc_SHEPHSettleOutstandingPayables_60" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapSegmentReportingInformationLineItems" xlink:to="loc_SHEPHSettleOutstandingPayables_60" xlink:type="arc" order="8" />
    </link:definitionLink>
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/ScheduleOfInformationAboutReportableSegmentsAndReconciliationsOfConsolidatedFinancialStatementsDetails" xlink:title="999054 - Disclosure - Schedule of Information about Reportable Segments and Reconciliations of Consolidated Financial Statements (Details)">
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_SegmentReportingInformationLineItems" xlink:label="loc_us-gaapSegmentReportingInformationLineItems" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable" xlink:label="loc_us-gaapScheduleOfSegmentReportingInformationBySegmentTable" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xbrldt:contextElement="segment" xlink:from="loc_us-gaapSegmentReportingInformationLineItems" xlink:to="loc_us-gaapScheduleOfSegmentReportingInformationBySegmentTable" xlink:type="arc" order="10" xbrldt:closed="true" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_StatementBusinessSegmentsAxis" xlink:label="loc_us-gaapStatementBusinessSegmentsAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapScheduleOfSegmentReportingInformationBySegmentTable" xlink:to="loc_us-gaapStatementBusinessSegmentsAxis" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_SegmentDomain" xlink:label="loc_us-gaapSegmentDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaapStatementBusinessSegmentsAxis" xlink:to="loc_us-gaapSegmentDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_SegmentDomain" xlink:label="loc_us-gaapSegmentDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_us-gaapStatementBusinessSegmentsAxis" xlink:to="loc_us-gaapSegmentDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_JustaboutLandCoLLCMember" xlink:label="loc_SHEPHJustaboutLandCoLLCMember_0" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapSegmentDomain" xlink:to="loc_SHEPHJustaboutLandCoLLCMember_0" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_ShepherdsFinanceLLCMember" xlink:label="loc_SHEPHShepherdsFinanceLLCMember_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapSegmentDomain" xlink:to="loc_SHEPHShepherdsFinanceLLCMember_10" xlink:type="arc" order="11" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_ConsolidationItemsAxis" xlink:label="loc_srtConsolidationItemsAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapScheduleOfSegmentReportingInformationBySegmentTable" xlink:to="loc_srtConsolidationItemsAxis" xlink:type="arc" order="2" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_ConsolidationItemsDomain" xlink:label="loc_srtConsolidationItemsDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_srtConsolidationItemsAxis" xlink:to="loc_srtConsolidationItemsDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_ConsolidationItemsDomain" xlink:label="loc_srtConsolidationItemsDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_srtConsolidationItemsAxis" xlink:to="loc_srtConsolidationItemsDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_ConsolidationEliminationsMember" xlink:label="loc_srtConsolidationEliminationsMember_80" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srtConsolidationItemsDomain" xlink:to="loc_srtConsolidationEliminationsMember_80" xlink:type="arc" order="81" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_InterestIncomeExpenseNetAbstract" xlink:label="loc_us-gaapInterestIncomeExpenseNetAbstract_150" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapSegmentReportingInformationLineItems" xlink:to="loc_us-gaapInterestIncomeExpenseNetAbstract_150" xlink:type="arc" order="0" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_InterestAndFeeIncomeLoansCommercial" xlink:label="loc_us-gaapInterestAndFeeIncomeLoansCommercial_150" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapInterestIncomeExpenseNetAbstract_150" xlink:to="loc_us-gaapInterestAndFeeIncomeLoansCommercial_150" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_InterestExpenseAbstract" xlink:label="loc_us-gaapInterestExpenseAbstract_150" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapSegmentReportingInformationLineItems" xlink:to="loc_us-gaapInterestExpenseAbstract_150" xlink:type="arc" order="2" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_InterestRelatedToSecuredDebt" xlink:label="loc_SHEPHInterestRelatedToSecuredDebt_150" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapInterestExpenseAbstract_150" xlink:to="loc_SHEPHInterestRelatedToSecuredDebt_150" xlink:type="arc" order="3" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_InterestExpenseUnsecuredDebt" xlink:label="loc_SHEPHInterestExpenseUnsecuredDebt_150" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapInterestExpenseAbstract_150" xlink:to="loc_SHEPHInterestExpenseUnsecuredDebt_150" xlink:type="arc" order="4" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_InterestExpenseOperating" xlink:label="loc_us-gaapInterestExpenseOperating_150" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapSegmentReportingInformationLineItems" xlink:to="loc_us-gaapInterestExpenseOperating_150" xlink:type="arc" order="5" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_InterestIncomeExpenseNet" xlink:label="loc_us-gaapInterestIncomeExpenseNet_150" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapSegmentReportingInformationLineItems" xlink:to="loc_us-gaapInterestIncomeExpenseNet_150" xlink:type="arc" order="6" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ProvisionForOtherCreditLosses" xlink:label="loc_us-gaapProvisionForOtherCreditLosses_150" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapSegmentReportingInformationLineItems" xlink:to="loc_us-gaapProvisionForOtherCreditLosses_150" xlink:type="arc" order="7" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_InterestIncomeExpenseAfterProvisionForLoanLoss" xlink:label="loc_us-gaapInterestIncomeExpenseAfterProvisionForLoanLoss_150" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapSegmentReportingInformationLineItems" xlink:to="loc_us-gaapInterestIncomeExpenseAfterProvisionForLoanLoss_150" xlink:type="arc" order="8" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_NoninterestIncomeAbstract" xlink:label="loc_us-gaapNoninterestIncomeAbstract_150" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapSegmentReportingInformationLineItems" xlink:to="loc_us-gaapNoninterestIncomeAbstract_150" xlink:type="arc" order="9" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_GainsLossesOnSalesOfAssets" xlink:label="loc_us-gaapGainsLossesOnSalesOfAssets_150" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapNoninterestIncomeAbstract_150" xlink:to="loc_us-gaapGainsLossesOnSalesOfAssets_150" xlink:type="arc" order="10" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_RevenueFromSaleOfLandParcels" xlink:label="loc_SHEPHRevenueFromSaleOfLandParcels_150" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapNoninterestIncomeAbstract_150" xlink:to="loc_SHEPHRevenueFromSaleOfLandParcels_150" xlink:type="arc" order="11" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_OptionFeeIncome" xlink:label="loc_SHEPHOptionFeeIncome_150" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapNoninterestIncomeAbstract_150" xlink:to="loc_SHEPHOptionFeeIncome_150" xlink:type="arc" order="12" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_NoninterestIncomeOther" xlink:label="loc_us-gaapNoninterestIncomeOther_150" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapNoninterestIncomeAbstract_150" xlink:to="loc_us-gaapNoninterestIncomeOther_150" xlink:type="arc" order="13" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_NoninterestIncome" xlink:label="loc_us-gaapNoninterestIncome_150" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapNoninterestIncomeAbstract_150" xlink:to="loc_us-gaapNoninterestIncome_150" xlink:type="arc" order="14" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_OtherNonoperatingIncomeExpense" xlink:label="loc_us-gaapOtherNonoperatingIncomeExpense_150" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapSegmentReportingInformationLineItems" xlink:to="loc_us-gaapOtherNonoperatingIncomeExpense_150" xlink:type="arc" order="15" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_NoninterestExpenseAbstract" xlink:label="loc_us-gaapNoninterestExpenseAbstract_150" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapSegmentReportingInformationLineItems" xlink:to="loc_us-gaapNoninterestExpenseAbstract_150" xlink:type="arc" order="16" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_SellingGeneralAndAdministrativeExpense" xlink:label="loc_us-gaapSellingGeneralAndAdministrativeExpense_150" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapNoninterestExpenseAbstract_150" xlink:to="loc_us-gaapSellingGeneralAndAdministrativeExpense_150" xlink:type="arc" order="17" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DepreciationDepletionAndAmortization" xlink:label="loc_us-gaapDepreciationDepletionAndAmortization_150" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapNoninterestExpenseAbstract_150" xlink:to="loc_us-gaapDepreciationDepletionAndAmortization_150" xlink:type="arc" order="18" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_LossOnSaleOfForeclosedAssets" xlink:label="loc_SHEPHLossOnSaleOfForeclosedAssets_150" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapNoninterestExpenseAbstract_150" xlink:to="loc_SHEPHLossOnSaleOfForeclosedAssets_150" xlink:type="arc" order="19" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_CostOfLandParcelsSold" xlink:label="loc_SHEPHCostOfLandParcelsSold_150" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapNoninterestExpenseAbstract_150" xlink:to="loc_SHEPHCostOfLandParcelsSold_150" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_NoninterestExpense" xlink:label="loc_us-gaapNoninterestExpense_150" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapNoninterestExpenseAbstract_150" xlink:to="loc_us-gaapNoninterestExpense_150" xlink:type="arc" order="21" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_NetIncomeLoss" xlink:label="loc_us-gaapNetIncomeLoss_150" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapSegmentReportingInformationLineItems" xlink:to="loc_us-gaapNetIncomeLoss_150" xlink:type="arc" order="22" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_Assets" xlink:label="loc_us-gaapAssets_150" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapSegmentReportingInformationLineItems" xlink:to="loc_us-gaapAssets_150" xlink:type="arc" order="23" />
    </link:definitionLink>
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/ScheduleOfRollForwardOfRealEstateInvestmentAssetsDetails" xlink:title="999055 - Disclosure - Schedule of Roll Forward of Real Estate Investment Assets (Details)" />
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/ScheduleOfCapitalizedInterestForConstructiondevelopmentRealEstateInvestmentAssetsDetails" xlink:title="999056 - Disclosure - Schedule of Capitalized Interest for Construction/Development Real Estate Investment Assets (Details)" />
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/RealEstateInvestmentAssetsDetailsNarrative" xlink:title="999057 - Disclosure - Real Estate Investment Assets (Details Narrative)">
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RestructuringCostAndReserveLineItems" xlink:label="loc_us-gaapRestructuringCostAndReserveLineItems" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ScheduleOfRestructuringAndRelatedCostsTable" xlink:label="loc_us-gaapScheduleOfRestructuringAndRelatedCostsTable" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xbrldt:contextElement="segment" xlink:from="loc_us-gaapRestructuringCostAndReserveLineItems" xlink:to="loc_us-gaapScheduleOfRestructuringAndRelatedCostsTable" xlink:type="arc" order="10" xbrldt:closed="true" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_BusinessAcquisitionAxis" xlink:label="loc_us-gaapBusinessAcquisitionAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapScheduleOfRestructuringAndRelatedCostsTable" xlink:to="loc_us-gaapBusinessAcquisitionAxis" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_BusinessAcquisitionAcquireeDomain" xlink:label="loc_us-gaapBusinessAcquisitionAcquireeDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaapBusinessAcquisitionAxis" xlink:to="loc_us-gaapBusinessAcquisitionAcquireeDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_BusinessAcquisitionAcquireeDomain" xlink:label="loc_us-gaapBusinessAcquisitionAcquireeDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_us-gaapBusinessAcquisitionAxis" xlink:to="loc_us-gaapBusinessAcquisitionAcquireeDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_JustaboutLandCoLLCMember" xlink:label="loc_SHEPHJustaboutLandCoLLCMember_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapBusinessAcquisitionAcquireeDomain" xlink:to="loc_SHEPHJustaboutLandCoLLCMember_10" xlink:type="arc" order="11" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_BenjaminMarcusHomesLLCMember" xlink:label="loc_SHEPHBenjaminMarcusHomesLLCMember_20" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapBusinessAcquisitionAcquireeDomain" xlink:to="loc_SHEPHBenjaminMarcusHomesLLCMember_20" xlink:type="arc" order="21" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_ConsolidatedEntitiesAxis" xlink:label="loc_srtConsolidatedEntitiesAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapScheduleOfRestructuringAndRelatedCostsTable" xlink:to="loc_srtConsolidatedEntitiesAxis" xlink:type="arc" order="2" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_ConsolidatedEntitiesDomain" xlink:label="loc_srtConsolidatedEntitiesDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_srtConsolidatedEntitiesAxis" xlink:to="loc_srtConsolidatedEntitiesDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_ConsolidatedEntitiesDomain" xlink:label="loc_srtConsolidatedEntitiesDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_srtConsolidatedEntitiesAxis" xlink:to="loc_srtConsolidatedEntitiesDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_ThreeThirtyNineJustaboutLandCompanyLLCMember" xlink:label="loc_SHEPHThreeThirtyNineJustaboutLandCompanyLLCMember_60" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srtConsolidatedEntitiesDomain" xlink:to="loc_SHEPHThreeThirtyNineJustaboutLandCompanyLLCMember_60" xlink:type="arc" order="61" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:label="loc_us-gaapRelatedPartyTransactionsByRelatedPartyAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapScheduleOfRestructuringAndRelatedCostsTable" xlink:to="loc_us-gaapRelatedPartyTransactionsByRelatedPartyAxis" xlink:type="arc" order="3" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RelatedPartyDomain" xlink:label="loc_us-gaapRelatedPartyDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaapRelatedPartyTransactionsByRelatedPartyAxis" xlink:to="loc_us-gaapRelatedPartyDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RelatedPartyDomain" xlink:label="loc_us-gaapRelatedPartyDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_us-gaapRelatedPartyTransactionsByRelatedPartyAxis" xlink:to="loc_us-gaapRelatedPartyDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_DBLCapitalRealEstateFundOneLLCMember" xlink:label="loc_SHEPHDBLCapitalRealEstateFundOneLLCMember_80" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapRelatedPartyDomain" xlink:to="loc_SHEPHDBLCapitalRealEstateFundOneLLCMember_80" xlink:type="arc" order="81" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ExtinguishmentOfDebtAmount" xlink:label="loc_us-gaapExtinguishmentOfDebtAmount_110" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapRestructuringCostAndReserveLineItems" xlink:to="loc_us-gaapExtinguishmentOfDebtAmount_110" xlink:type="arc" order="0" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_CarryingFee" xlink:label="loc_SHEPHCarryingFee_110" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapRestructuringCostAndReserveLineItems" xlink:to="loc_SHEPHCarryingFee_110" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_BusinessAcquisitionEffectiveDateOfAcquisition1" xlink:label="loc_us-gaapBusinessAcquisitionEffectiveDateOfAcquisition1_110" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapRestructuringCostAndReserveLineItems" xlink:to="loc_us-gaapBusinessAcquisitionEffectiveDateOfAcquisition1_110" xlink:type="arc" order="2" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_BusinessAcquisitionNameOfAcquiredEntity" xlink:label="loc_us-gaapBusinessAcquisitionNameOfAcquiredEntity_110" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapRestructuringCostAndReserveLineItems" xlink:to="loc_us-gaapBusinessAcquisitionNameOfAcquiredEntity_110" xlink:type="arc" order="3" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_BusinessCombinationConsiderationTransferred1" xlink:label="loc_us-gaapBusinessCombinationConsiderationTransferred1_110" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapRestructuringCostAndReserveLineItems" xlink:to="loc_us-gaapBusinessCombinationConsiderationTransferred1_110" xlink:type="arc" order="4" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_OptionFee" xlink:label="loc_SHEPHOptionFee_110" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapRestructuringCostAndReserveLineItems" xlink:to="loc_SHEPHOptionFee_110" xlink:type="arc" order="5" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DeferredRevenue" xlink:label="loc_us-gaapDeferredRevenue_110" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapRestructuringCostAndReserveLineItems" xlink:to="loc_us-gaapDeferredRevenue_110" xlink:type="arc" order="6" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_RevenueFromSaleOfLandParcels" xlink:label="loc_SHEPHRevenueFromSaleOfLandParcels_110" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapRestructuringCostAndReserveLineItems" xlink:to="loc_SHEPHRevenueFromSaleOfLandParcels_110" xlink:type="arc" order="7" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_GainLossOnSaleOfStockInSubsidiaryOrEquityMethodInvestee" xlink:label="loc_us-gaapGainLossOnSaleOfStockInSubsidiaryOrEquityMethodInvestee_110" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapRestructuringCostAndReserveLineItems" xlink:to="loc_us-gaapGainLossOnSaleOfStockInSubsidiaryOrEquityMethodInvestee_110" xlink:type="arc" order="8" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_GainLossOnSaleOfOtherAssets" xlink:label="loc_us-gaapGainLossOnSaleOfOtherAssets_110" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapRestructuringCostAndReserveLineItems" xlink:to="loc_us-gaapGainLossOnSaleOfOtherAssets_110" xlink:type="arc" order="9" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_SettlementLiabilitiesCurrent" xlink:label="loc_us-gaapSettlementLiabilitiesCurrent_110" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapRestructuringCostAndReserveLineItems" xlink:to="loc_us-gaapSettlementLiabilitiesCurrent_110" xlink:type="arc" order="10" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_GainLossOnDispositionOfAssets1" xlink:label="loc_us-gaapGainLossOnDispositionOfAssets1_110" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapRestructuringCostAndReserveLineItems" xlink:to="loc_us-gaapGainLossOnDispositionOfAssets1_110" xlink:type="arc" order="11" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_PaymentsToInvestmentsInMinorityNonControllingInterest" xlink:label="loc_SHEPHPaymentsToInvestmentsInMinorityNonControllingInterest_110" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapRestructuringCostAndReserveLineItems" xlink:to="loc_SHEPHPaymentsToInvestmentsInMinorityNonControllingInterest_110" xlink:type="arc" order="12" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_Investments" xlink:label="loc_us-gaapInvestments_110" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapRestructuringCostAndReserveLineItems" xlink:to="loc_us-gaapInvestments_110" xlink:type="arc" order="13" />
    </link:definitionLink>
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/ScheduleOfFinancingReceivablesDetails" xlink:title="999058 - Disclosure - Schedule of Financing Receivables (Details)" />
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/ScheduleOfCommercialLoans-ConstructionLoanPortfolioSummaryDetails" xlink:title="999059 - Disclosure - Schedule of Commercial Loans - Construction Loan Portfolio Summary (Details)">
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivableRecordedInvestmentPastDueLineItems" xlink:label="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ScheduleOfFinancingReceivablesPastDueTable" xlink:label="loc_us-gaapScheduleOfFinancingReceivablesPastDueTable" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xbrldt:contextElement="segment" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" xlink:to="loc_us-gaapScheduleOfFinancingReceivablesPastDueTable" xlink:type="arc" order="10" xbrldt:closed="true" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_CollateralAxis" xlink:label="loc_us-gaapCollateralAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapScheduleOfFinancingReceivablesPastDueTable" xlink:to="loc_us-gaapCollateralAxis" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_CollateralDomain" xlink:label="loc_us-gaapCollateralDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaapCollateralAxis" xlink:to="loc_us-gaapCollateralDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_CollateralDomain" xlink:label="loc_us-gaapCollateralDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_us-gaapCollateralAxis" xlink:to="loc_us-gaapCollateralDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_HomeConstructionLoansMember" xlink:label="loc_SHEPHHomeConstructionLoansMember_0" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapCollateralDomain" xlink:to="loc_SHEPHHomeConstructionLoansMember_0" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_NumberOfStatesInWhichEntityOperates" xlink:label="loc_us-gaapNumberOfStatesInWhichEntityOperates_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" xlink:to="loc_us-gaapNumberOfStatesInWhichEntityOperates_50" xlink:type="arc" order="0" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_NumberOfBorrowers" xlink:label="loc_SHEPHNumberOfBorrowers_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" xlink:to="loc_SHEPHNumberOfBorrowers_50" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_MortgageLoansOnRealEstateNumberOfLoans" xlink:label="loc_srtMortgageLoansOnRealEstateNumberOfLoans_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" xlink:to="loc_srtMortgageLoansOnRealEstateNumberOfLoans_50" xlink:type="arc" order="2" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ContractualObligation" xlink:label="loc_us-gaapContractualObligation_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" xlink:to="loc_us-gaapContractualObligation_50" xlink:type="arc" order="3" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LoansAndLeasesReceivableGrossCarryingAmountCovered" xlink:label="loc_us-gaapLoansAndLeasesReceivableGrossCarryingAmountCovered_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" xlink:to="loc_us-gaapLoansAndLeasesReceivableGrossCarryingAmountCovered_50" xlink:type="arc" order="4" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_LoanToValueRatio" xlink:label="loc_SHEPHLoanToValueRatio_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" xlink:to="loc_SHEPHLoanToValueRatio_50" xlink:type="arc" order="5" />
    </link:definitionLink>
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/ScheduleOfCommercialLoans-RealEstateDevelopmentLoanPortfolioSummaryDetails" xlink:title="999060 - Disclosure - Schedule of Commercial Loans - Real Estate Development Loan Portfolio Summary (Details)">
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivableRecordedInvestmentPastDueLineItems" xlink:label="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ScheduleOfFinancingReceivablesPastDueTable" xlink:label="loc_us-gaapScheduleOfFinancingReceivablesPastDueTable" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xbrldt:contextElement="segment" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" xlink:to="loc_us-gaapScheduleOfFinancingReceivablesPastDueTable" xlink:type="arc" order="10" xbrldt:closed="true" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_CollateralAxis" xlink:label="loc_us-gaapCollateralAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapScheduleOfFinancingReceivablesPastDueTable" xlink:to="loc_us-gaapCollateralAxis" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_CollateralDomain" xlink:label="loc_us-gaapCollateralDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaapCollateralAxis" xlink:to="loc_us-gaapCollateralDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_CollateralDomain" xlink:label="loc_us-gaapCollateralDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_us-gaapCollateralAxis" xlink:to="loc_us-gaapCollateralDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RealEstateMember" xlink:label="loc_us-gaapRealEstateMember_0" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapCollateralDomain" xlink:to="loc_us-gaapRealEstateMember_0" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_NumberOfStatesInWhichEntityOperates" xlink:label="loc_us-gaapNumberOfStatesInWhichEntityOperates_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" xlink:to="loc_us-gaapNumberOfStatesInWhichEntityOperates_50" xlink:type="arc" order="0" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_NumberOfBorrowers" xlink:label="loc_SHEPHNumberOfBorrowers_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" xlink:to="loc_SHEPHNumberOfBorrowers_50" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_MortgageLoansOnRealEstateNumberOfLoans" xlink:label="loc_srtMortgageLoansOnRealEstateNumberOfLoans_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" xlink:to="loc_srtMortgageLoansOnRealEstateNumberOfLoans_50" xlink:type="arc" order="2" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ContractualObligation" xlink:label="loc_us-gaapContractualObligation_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" xlink:to="loc_us-gaapContractualObligation_50" xlink:type="arc" order="3" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LoansAndLeasesReceivableGrossCarryingAmountCovered" xlink:label="loc_us-gaapLoansAndLeasesReceivableGrossCarryingAmountCovered_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" xlink:to="loc_us-gaapLoansAndLeasesReceivableGrossCarryingAmountCovered_50" xlink:type="arc" order="4" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_LoanToValueRatio" xlink:label="loc_SHEPHLoanToValueRatio_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" xlink:to="loc_SHEPHLoanToValueRatio_50" xlink:type="arc" order="5" />
    </link:definitionLink>
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/ScheduleOfConstructionAndDevelopmentLoanPortfolioDetails" xlink:title="999061 - Disclosure - Schedule of Construction and Development Loan Portfolio (Details)" />
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/ScheduleOfGrossLoanReceivableCommitmentValueAndAclCreditRankLoanPoolCategoryDetails" xlink:title="999062 - Disclosure - Schedule of Gross Loan Receivable, Commitment Value and ACL Credit Rank Loan Pool Category (Details)">
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivableRecordedInvestmentPastDueLineItems" xlink:label="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ScheduleOfFinancingReceivablesPastDueTable" xlink:label="loc_us-gaapScheduleOfFinancingReceivablesPastDueTable" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xbrldt:contextElement="segment" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" xlink:to="loc_us-gaapScheduleOfFinancingReceivablesPastDueTable" xlink:type="arc" order="10" xbrldt:closed="true" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis" xlink:label="loc_us-gaapFinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapScheduleOfFinancingReceivablesPastDueTable" xlink:to="loc_us-gaapFinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain" xlink:label="loc_us-gaapFinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis" xlink:to="loc_us-gaapFinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain" xlink:label="loc_us-gaapFinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis" xlink:to="loc_us-gaapFinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ConstructionLoansMember" xlink:label="loc_us-gaapConstructionLoansMember_0" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain" xlink:to="loc_us-gaapConstructionLoansMember_0" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_DevelopmentLoansMember" xlink:label="loc_SHEPHDevelopmentLoansMember_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain" xlink:to="loc_SHEPHDevelopmentLoansMember_40" xlink:type="arc" order="41" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ManagingRisksInherentInServicingAssetsAndServicingLiabilitiesByTypeOfRiskAxis" xlink:label="loc_us-gaapManagingRisksInherentInServicingAssetsAndServicingLiabilitiesByTypeOfRiskAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapScheduleOfFinancingReceivablesPastDueTable" xlink:to="loc_us-gaapManagingRisksInherentInServicingAssetsAndServicingLiabilitiesByTypeOfRiskAxis" xlink:type="arc" order="2" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RisksInherentInServicingAssetsAndServicingLiabilitiesTypeDomain" xlink:label="loc_us-gaapRisksInherentInServicingAssetsAndServicingLiabilitiesTypeDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaapManagingRisksInherentInServicingAssetsAndServicingLiabilitiesByTypeOfRiskAxis" xlink:to="loc_us-gaapRisksInherentInServicingAssetsAndServicingLiabilitiesTypeDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RisksInherentInServicingAssetsAndServicingLiabilitiesTypeDomain" xlink:label="loc_us-gaapRisksInherentInServicingAssetsAndServicingLiabilitiesTypeDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_us-gaapManagingRisksInherentInServicingAssetsAndServicingLiabilitiesByTypeOfRiskAxis" xlink:to="loc_us-gaapRisksInherentInServicingAssetsAndServicingLiabilitiesTypeDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_ACreditRiskMember" xlink:label="loc_SHEPHACreditRiskMember_0" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapRisksInherentInServicingAssetsAndServicingLiabilitiesTypeDomain" xlink:to="loc_SHEPHACreditRiskMember_0" xlink:type="arc" order="2" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_BCreditRiskMember" xlink:label="loc_SHEPHBCreditRiskMember_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapRisksInherentInServicingAssetsAndServicingLiabilitiesTypeDomain" xlink:to="loc_SHEPHBCreditRiskMember_10" xlink:type="arc" order="12" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_CCreditRiskMember" xlink:label="loc_SHEPHCCreditRiskMember_20" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapRisksInherentInServicingAssetsAndServicingLiabilitiesTypeDomain" xlink:to="loc_SHEPHCCreditRiskMember_20" xlink:type="arc" order="22" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_IndividuallyEvaluatedMember" xlink:label="loc_SHEPHIndividuallyEvaluatedMember_30" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapRisksInherentInServicingAssetsAndServicingLiabilitiesTypeDomain" xlink:to="loc_SHEPHIndividuallyEvaluatedMember_30" xlink:type="arc" order="32" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LoansAndLeasesReceivableGrossCarryingAmountCovered" xlink:label="loc_us-gaapLoansAndLeasesReceivableGrossCarryingAmountCovered_190" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" xlink:to="loc_us-gaapLoansAndLeasesReceivableGrossCarryingAmountCovered_190" xlink:type="arc" order="0" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ContractualObligation" xlink:label="loc_us-gaapContractualObligation_190" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" xlink:to="loc_us-gaapContractualObligation_190" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivableAllowanceForCreditLosses" xlink:label="loc_us-gaapFinancingReceivableAllowanceForCreditLosses_190" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" xlink:to="loc_us-gaapFinancingReceivableAllowanceForCreditLosses_190" xlink:type="arc" order="2" />
    </link:definitionLink>
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/ScheduleOfAmortizedCostBasisOfLoansOnNonaccrualStatusAndLoansDetails" xlink:title="999063 - Disclosure - Schedule of Amortized Cost Basis of Loans on Nonaccrual Status and Loans (Details)">
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivableRecordedInvestmentPastDueLineItems" xlink:label="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ScheduleOfFinancingReceivablesPastDueTable" xlink:label="loc_us-gaapScheduleOfFinancingReceivablesPastDueTable" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xbrldt:contextElement="segment" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" xlink:to="loc_us-gaapScheduleOfFinancingReceivablesPastDueTable" xlink:type="arc" order="10" xbrldt:closed="true" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis" xlink:label="loc_us-gaapFinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapScheduleOfFinancingReceivablesPastDueTable" xlink:to="loc_us-gaapFinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain" xlink:label="loc_us-gaapFinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis" xlink:to="loc_us-gaapFinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain" xlink:label="loc_us-gaapFinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis" xlink:to="loc_us-gaapFinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ConstructionLoansMember" xlink:label="loc_us-gaapConstructionLoansMember_0" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain" xlink:to="loc_us-gaapConstructionLoansMember_0" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_DevelopmentLoansMember" xlink:label="loc_SHEPHDevelopmentLoansMember_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain" xlink:to="loc_SHEPHDevelopmentLoansMember_10" xlink:type="arc" order="11" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ManagingRisksInherentInServicingAssetsAndServicingLiabilitiesByTypeOfRiskAxis" xlink:label="loc_us-gaapManagingRisksInherentInServicingAssetsAndServicingLiabilitiesByTypeOfRiskAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapScheduleOfFinancingReceivablesPastDueTable" xlink:to="loc_us-gaapManagingRisksInherentInServicingAssetsAndServicingLiabilitiesByTypeOfRiskAxis" xlink:type="arc" order="2" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RisksInherentInServicingAssetsAndServicingLiabilitiesTypeDomain" xlink:label="loc_us-gaapRisksInherentInServicingAssetsAndServicingLiabilitiesTypeDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaapManagingRisksInherentInServicingAssetsAndServicingLiabilitiesByTypeOfRiskAxis" xlink:to="loc_us-gaapRisksInherentInServicingAssetsAndServicingLiabilitiesTypeDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RisksInherentInServicingAssetsAndServicingLiabilitiesTypeDomain" xlink:label="loc_us-gaapRisksInherentInServicingAssetsAndServicingLiabilitiesTypeDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_us-gaapManagingRisksInherentInServicingAssetsAndServicingLiabilitiesByTypeOfRiskAxis" xlink:to="loc_us-gaapRisksInherentInServicingAssetsAndServicingLiabilitiesTypeDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_IndividuallyEvaluatedMember" xlink:label="loc_SHEPHIndividuallyEvaluatedMember_0" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapRisksInherentInServicingAssetsAndServicingLiabilitiesTypeDomain" xlink:to="loc_SHEPHIndividuallyEvaluatedMember_0" xlink:type="arc" order="2" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_NotesReceivableGross" xlink:label="loc_us-gaapNotesReceivableGross_70" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" xlink:to="loc_us-gaapNotesReceivableGross_70" xlink:type="arc" order="0" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivableRecordedInvestmentNonaccrualStatus" xlink:label="loc_us-gaapFinancingReceivableRecordedInvestmentNonaccrualStatus_70" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" xlink:to="loc_us-gaapFinancingReceivableRecordedInvestmentNonaccrualStatus_70" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivableRecordedInvestment90DaysPastDueAndStillAccruing" xlink:label="loc_us-gaapFinancingReceivableRecordedInvestment90DaysPastDueAndStillAccruing_70" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" xlink:to="loc_us-gaapFinancingReceivableRecordedInvestment90DaysPastDueAndStillAccruing_70" xlink:type="arc" order="2" />
    </link:definitionLink>
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/ScheduleOfAgingOfGrossLoanPortfolioDetails" xlink:title="999064 - Disclosure - Schedule of Aging of Gross Loan Portfolio (Details)">
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RisksInherentInServicingAssetsAndServicingLiabilitiesLineItems" xlink:label="loc_us-gaapRisksInherentInServicingAssetsAndServicingLiabilitiesLineItems" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ManagingOfRisksInherentInServicingAssetsAndServicingLiabilitiesTable" xlink:label="loc_us-gaapManagingOfRisksInherentInServicingAssetsAndServicingLiabilitiesTable" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xbrldt:contextElement="segment" xlink:from="loc_us-gaapRisksInherentInServicingAssetsAndServicingLiabilitiesLineItems" xlink:to="loc_us-gaapManagingOfRisksInherentInServicingAssetsAndServicingLiabilitiesTable" xlink:type="arc" order="10" xbrldt:closed="true" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ManagingRisksInherentInServicingAssetsAndServicingLiabilitiesByTypeOfRiskAxis" xlink:label="loc_us-gaapManagingRisksInherentInServicingAssetsAndServicingLiabilitiesByTypeOfRiskAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapManagingOfRisksInherentInServicingAssetsAndServicingLiabilitiesTable" xlink:to="loc_us-gaapManagingRisksInherentInServicingAssetsAndServicingLiabilitiesByTypeOfRiskAxis" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RisksInherentInServicingAssetsAndServicingLiabilitiesTypeDomain" xlink:label="loc_us-gaapRisksInherentInServicingAssetsAndServicingLiabilitiesTypeDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaapManagingRisksInherentInServicingAssetsAndServicingLiabilitiesByTypeOfRiskAxis" xlink:to="loc_us-gaapRisksInherentInServicingAssetsAndServicingLiabilitiesTypeDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RisksInherentInServicingAssetsAndServicingLiabilitiesTypeDomain" xlink:label="loc_us-gaapRisksInherentInServicingAssetsAndServicingLiabilitiesTypeDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_us-gaapManagingRisksInherentInServicingAssetsAndServicingLiabilitiesByTypeOfRiskAxis" xlink:to="loc_us-gaapRisksInherentInServicingAssetsAndServicingLiabilitiesTypeDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_ACreditRiskMember" xlink:label="loc_SHEPHACreditRiskMember_0" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapRisksInherentInServicingAssetsAndServicingLiabilitiesTypeDomain" xlink:to="loc_SHEPHACreditRiskMember_0" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_BCreditRiskMember" xlink:label="loc_SHEPHBCreditRiskMember_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapRisksInherentInServicingAssetsAndServicingLiabilitiesTypeDomain" xlink:to="loc_SHEPHBCreditRiskMember_50" xlink:type="arc" order="51" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_CCreditRiskMember" xlink:label="loc_SHEPHCCreditRiskMember_100" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapRisksInherentInServicingAssetsAndServicingLiabilitiesTypeDomain" xlink:to="loc_SHEPHCCreditRiskMember_100" xlink:type="arc" order="101" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AwardDateAxis" xlink:label="loc_us-gaapAwardDateAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapManagingOfRisksInherentInServicingAssetsAndServicingLiabilitiesTable" xlink:to="loc_us-gaapAwardDateAxis" xlink:type="arc" order="2" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AwardDateDomain" xlink:label="loc_us-gaapAwardDateDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaapAwardDateAxis" xlink:to="loc_us-gaapAwardDateDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AwardDateDomain" xlink:label="loc_us-gaapAwardDateDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_us-gaapAwardDateAxis" xlink:to="loc_us-gaapAwardDateDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_CurrentZeroToFiftyNineMember" xlink:label="loc_SHEPHCurrentZeroToFiftyNineMember_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapAwardDateDomain" xlink:to="loc_SHEPHCurrentZeroToFiftyNineMember_10" xlink:type="arc" order="11" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_PastDueNinetyToOneSeventyNineMember" xlink:label="loc_SHEPHPastDueNinetyToOneSeventyNineMember_20" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapAwardDateDomain" xlink:to="loc_SHEPHPastDueNinetyToOneSeventyNineMember_20" xlink:type="arc" order="21" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_PastDueOneEightyToTwoSixtynineMember" xlink:label="loc_SHEPHPastDueOneEightyToTwoSixtynineMember_30" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapAwardDateDomain" xlink:to="loc_SHEPHPastDueOneEightyToTwoSixtynineMember_30" xlink:type="arc" order="31" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_PastDueGreaterThanTwoSeventyMember" xlink:label="loc_SHEPHPastDueGreaterThanTwoSeventyMember_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapAwardDateDomain" xlink:to="loc_SHEPHPastDueGreaterThanTwoSeventyMember_40" xlink:type="arc" order="41" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_PerformingLoans" xlink:label="loc_SHEPHPerformingLoans_410" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapRisksInherentInServicingAssetsAndServicingLiabilitiesLineItems" xlink:to="loc_SHEPHPerformingLoans_410" xlink:type="arc" order="0" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_LoansIndividuallyEvaluated" xlink:label="loc_SHEPHLoansIndividuallyEvaluated_410" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapRisksInherentInServicingAssetsAndServicingLiabilitiesLineItems" xlink:to="loc_SHEPHLoansIndividuallyEvaluated_410" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_ForbearanceLoans" xlink:label="loc_SHEPHForbearanceLoans_410" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapRisksInherentInServicingAssetsAndServicingLiabilitiesLineItems" xlink:to="loc_SHEPHForbearanceLoans_410" xlink:type="arc" order="2" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_ForbearanceLoansIndividuallyEvaluated" xlink:label="loc_SHEPHForbearanceLoansIndividuallyEvaluated_410" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapRisksInherentInServicingAssetsAndServicingLiabilitiesLineItems" xlink:to="loc_SHEPHForbearanceLoansIndividuallyEvaluated_410" xlink:type="arc" order="3" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LoansAndLeasesReceivableGrossCarryingAmountCovered" xlink:label="loc_us-gaapLoansAndLeasesReceivableGrossCarryingAmountCovered_410" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapRisksInherentInServicingAssetsAndServicingLiabilitiesLineItems" xlink:to="loc_us-gaapLoansAndLeasesReceivableGrossCarryingAmountCovered_410" xlink:type="arc" order="4" />
    </link:definitionLink>
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/SummaryOfAgingScheduleOfLoansReceivablesOnRecencyBasisDetails" xlink:title="999065 - Disclosure - Summary of Aging Schedule of Loans Receivables on a Recency Basis (Details)">
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivableRecordedInvestmentPastDueLineItems" xlink:label="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ScheduleOfFinancingReceivablesPastDueTable" xlink:label="loc_us-gaapScheduleOfFinancingReceivablesPastDueTable" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xbrldt:contextElement="segment" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" xlink:to="loc_us-gaapScheduleOfFinancingReceivablesPastDueTable" xlink:type="arc" order="10" xbrldt:closed="true" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivablesPeriodPastDueAxis" xlink:label="loc_us-gaapFinancingReceivablesPeriodPastDueAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapScheduleOfFinancingReceivablesPastDueTable" xlink:to="loc_us-gaapFinancingReceivablesPeriodPastDueAxis" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivablesPeriodPastDueDomain" xlink:label="loc_us-gaapFinancingReceivablesPeriodPastDueDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaapFinancingReceivablesPeriodPastDueAxis" xlink:to="loc_us-gaapFinancingReceivablesPeriodPastDueDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivablesPeriodPastDueDomain" xlink:label="loc_us-gaapFinancingReceivablesPeriodPastDueDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_us-gaapFinancingReceivablesPeriodPastDueAxis" xlink:to="loc_us-gaapFinancingReceivablesPeriodPastDueDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancialAssetNotPastDueMember" xlink:label="loc_us-gaapFinancialAssetNotPastDueMember_0" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivablesPeriodPastDueDomain" xlink:to="loc_us-gaapFinancialAssetNotPastDueMember_0" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivables60To89DaysPastDueMember" xlink:label="loc_us-gaapFinancingReceivables60To89DaysPastDueMember_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivablesPeriodPastDueDomain" xlink:to="loc_us-gaapFinancingReceivables60To89DaysPastDueMember_10" xlink:type="arc" order="11" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_FinancingReceivables90DaysTo179DaysPastDueMember" xlink:label="loc_SHEPHFinancingReceivables90DaysTo179DaysPastDueMember_20" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivablesPeriodPastDueDomain" xlink:to="loc_SHEPHFinancingReceivables90DaysTo179DaysPastDueMember_20" xlink:type="arc" order="21" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_FinancingReceivables180To269DaysPastDueMember" xlink:label="loc_SHEPHFinancingReceivables180To269DaysPastDueMember_30" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivablesPeriodPastDueDomain" xlink:to="loc_SHEPHFinancingReceivables180To269DaysPastDueMember_30" xlink:type="arc" order="31" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_FinancingReceivablesGreaterThan270DaysPastDueMember" xlink:label="loc_SHEPHFinancingReceivablesGreaterThan270DaysPastDueMember_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivablesPeriodPastDueDomain" xlink:to="loc_SHEPHFinancingReceivablesGreaterThan270DaysPastDueMember_40" xlink:type="arc" order="41" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_FinancialReceivablesSubtotalMember" xlink:label="loc_SHEPHFinancialReceivablesSubtotalMember_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivablesPeriodPastDueDomain" xlink:to="loc_SHEPHFinancialReceivablesSubtotalMember_50" xlink:type="arc" order="51" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis" xlink:label="loc_us-gaapAccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapScheduleOfFinancingReceivablesPastDueTable" xlink:to="loc_us-gaapAccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis" xlink:type="arc" order="2" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ReceivableTypeDomain" xlink:label="loc_us-gaapReceivableTypeDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaapAccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis" xlink:to="loc_us-gaapReceivableTypeDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ReceivableTypeDomain" xlink:label="loc_us-gaapReceivableTypeDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_us-gaapAccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis" xlink:to="loc_us-gaapReceivableTypeDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LoansReceivableMember" xlink:label="loc_us-gaapLoansReceivableMember_0" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapReceivableTypeDomain" xlink:to="loc_us-gaapLoansReceivableMember_0" xlink:type="arc" order="2" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ClassOfFinancingReceivableTypeOfBorrowerAxis" xlink:label="loc_us-gaapClassOfFinancingReceivableTypeOfBorrowerAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapScheduleOfFinancingReceivablesPastDueTable" xlink:to="loc_us-gaapClassOfFinancingReceivableTypeOfBorrowerAxis" xlink:type="arc" order="3" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ClassOfFinancingReceivableTypeOfBorrowerDomain" xlink:label="loc_us-gaapClassOfFinancingReceivableTypeOfBorrowerDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaapClassOfFinancingReceivableTypeOfBorrowerAxis" xlink:to="loc_us-gaapClassOfFinancingReceivableTypeOfBorrowerDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ClassOfFinancingReceivableTypeOfBorrowerDomain" xlink:label="loc_us-gaapClassOfFinancingReceivableTypeOfBorrowerDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_us-gaapClassOfFinancingReceivableTypeOfBorrowerAxis" xlink:to="loc_us-gaapClassOfFinancingReceivableTypeOfBorrowerDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_RecencyBasisMember" xlink:label="loc_SHEPHRecencyBasisMember_0" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapClassOfFinancingReceivableTypeOfBorrowerDomain" xlink:to="loc_SHEPHRecencyBasisMember_0" xlink:type="arc" order="3" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_NumberOfLoans" xlink:label="loc_SHEPHNumberOfLoans_150" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" xlink:to="loc_SHEPHNumberOfLoans_150" xlink:type="arc" order="0" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_NotesReceivableNet" xlink:label="loc_us-gaapNotesReceivableNet_150" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" xlink:to="loc_us-gaapNotesReceivableNet_150" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivablePercentPastDue1" xlink:label="loc_us-gaapFinancingReceivablePercentPastDue1_150" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" xlink:to="loc_us-gaapFinancingReceivablePercentPastDue1_150" xlink:type="arc" order="2" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_NumberOfInterestOnlyAccounts" xlink:label="loc_SHEPHNumberOfInterestOnlyAccounts_150" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" xlink:to="loc_SHEPHNumberOfInterestOnlyAccounts_150" xlink:type="arc" order="3" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_FinancingReceivableInterestIncomeReceivedInPast" xlink:label="loc_SHEPHFinancingReceivableInterestIncomeReceivedInPast_150" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" xlink:to="loc_SHEPHFinancingReceivableInterestIncomeReceivedInPast_150" xlink:type="arc" order="4" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_FinancingReceivablesPercentageOfInterestOnlyAccounts" xlink:label="loc_SHEPHFinancingReceivablesPercentageOfInterestOnlyAccounts_150" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" xlink:to="loc_SHEPHFinancingReceivablesPercentageOfInterestOnlyAccounts_150" xlink:type="arc" order="5" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_NumberOfPartialPaymentAccounts" xlink:label="loc_SHEPHNumberOfPartialPaymentAccounts_150" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" xlink:to="loc_SHEPHNumberOfPartialPaymentAccounts_150" xlink:type="arc" order="6" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_FinancingReceivablePartialPaymentAccounts" xlink:label="loc_SHEPHFinancingReceivablePartialPaymentAccounts_150" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" xlink:to="loc_SHEPHFinancingReceivablePartialPaymentAccounts_150" xlink:type="arc" order="7" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_FinancingReceivablesPercentageOfPartialPaymentAccounts" xlink:label="loc_SHEPHFinancingReceivablesPercentageOfPartialPaymentAccounts_150" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" xlink:to="loc_SHEPHFinancingReceivablesPercentageOfPartialPaymentAccounts_150" xlink:type="arc" order="8" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_NumberOfLoansOutstanding" xlink:label="loc_SHEPHNumberOfLoansOutstanding_150" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" xlink:to="loc_SHEPHNumberOfLoansOutstanding_150" xlink:type="arc" order="9" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_FinancingReceivableNonaccrualToOutstandingPercent" xlink:label="loc_srtFinancingReceivableNonaccrualToOutstandingPercent_150" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" xlink:to="loc_srtFinancingReceivableNonaccrualToOutstandingPercent_150" xlink:type="arc" order="10" />
    </link:definitionLink>
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/ScheduleOfAgingScheduleOfLoansReceivablesOnContractualBasisDetails" xlink:title="999066 - Disclosure - Schedule of Aging Schedule of Loans Receivables on a Contractual Basis (Details)">
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivableRecordedInvestmentPastDueLineItems" xlink:label="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ScheduleOfFinancingReceivablesPastDueTable" xlink:label="loc_us-gaapScheduleOfFinancingReceivablesPastDueTable" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xbrldt:contextElement="segment" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" xlink:to="loc_us-gaapScheduleOfFinancingReceivablesPastDueTable" xlink:type="arc" order="10" xbrldt:closed="true" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivablesPeriodPastDueAxis" xlink:label="loc_us-gaapFinancingReceivablesPeriodPastDueAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapScheduleOfFinancingReceivablesPastDueTable" xlink:to="loc_us-gaapFinancingReceivablesPeriodPastDueAxis" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivablesPeriodPastDueDomain" xlink:label="loc_us-gaapFinancingReceivablesPeriodPastDueDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaapFinancingReceivablesPeriodPastDueAxis" xlink:to="loc_us-gaapFinancingReceivablesPeriodPastDueDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivablesPeriodPastDueDomain" xlink:label="loc_us-gaapFinancingReceivablesPeriodPastDueDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_us-gaapFinancingReceivablesPeriodPastDueAxis" xlink:to="loc_us-gaapFinancingReceivablesPeriodPastDueDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancialAssetNotPastDueMember" xlink:label="loc_us-gaapFinancialAssetNotPastDueMember_0" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivablesPeriodPastDueDomain" xlink:to="loc_us-gaapFinancialAssetNotPastDueMember_0" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivables60To89DaysPastDueMember" xlink:label="loc_us-gaapFinancingReceivables60To89DaysPastDueMember_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivablesPeriodPastDueDomain" xlink:to="loc_us-gaapFinancingReceivables60To89DaysPastDueMember_10" xlink:type="arc" order="11" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_FinancingReceivables90DaysTo179DaysPastDueMember" xlink:label="loc_SHEPHFinancingReceivables90DaysTo179DaysPastDueMember_20" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivablesPeriodPastDueDomain" xlink:to="loc_SHEPHFinancingReceivables90DaysTo179DaysPastDueMember_20" xlink:type="arc" order="21" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_FinancingReceivables180To269DaysPastDueMember" xlink:label="loc_SHEPHFinancingReceivables180To269DaysPastDueMember_30" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivablesPeriodPastDueDomain" xlink:to="loc_SHEPHFinancingReceivables180To269DaysPastDueMember_30" xlink:type="arc" order="31" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_FinancingReceivablesGreaterThan270DaysPastDueMember" xlink:label="loc_SHEPHFinancingReceivablesGreaterThan270DaysPastDueMember_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivablesPeriodPastDueDomain" xlink:to="loc_SHEPHFinancingReceivablesGreaterThan270DaysPastDueMember_40" xlink:type="arc" order="41" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_FinancialReceivablesSubtotalMember" xlink:label="loc_SHEPHFinancialReceivablesSubtotalMember_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivablesPeriodPastDueDomain" xlink:to="loc_SHEPHFinancialReceivablesSubtotalMember_50" xlink:type="arc" order="51" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis" xlink:label="loc_us-gaapAccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapScheduleOfFinancingReceivablesPastDueTable" xlink:to="loc_us-gaapAccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis" xlink:type="arc" order="2" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ReceivableTypeDomain" xlink:label="loc_us-gaapReceivableTypeDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaapAccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis" xlink:to="loc_us-gaapReceivableTypeDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ReceivableTypeDomain" xlink:label="loc_us-gaapReceivableTypeDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_us-gaapAccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis" xlink:to="loc_us-gaapReceivableTypeDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LoansReceivableMember" xlink:label="loc_us-gaapLoansReceivableMember_0" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapReceivableTypeDomain" xlink:to="loc_us-gaapLoansReceivableMember_0" xlink:type="arc" order="2" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ClassOfFinancingReceivableTypeOfBorrowerAxis" xlink:label="loc_us-gaapClassOfFinancingReceivableTypeOfBorrowerAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapScheduleOfFinancingReceivablesPastDueTable" xlink:to="loc_us-gaapClassOfFinancingReceivableTypeOfBorrowerAxis" xlink:type="arc" order="3" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ClassOfFinancingReceivableTypeOfBorrowerDomain" xlink:label="loc_us-gaapClassOfFinancingReceivableTypeOfBorrowerDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaapClassOfFinancingReceivableTypeOfBorrowerAxis" xlink:to="loc_us-gaapClassOfFinancingReceivableTypeOfBorrowerDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ClassOfFinancingReceivableTypeOfBorrowerDomain" xlink:label="loc_us-gaapClassOfFinancingReceivableTypeOfBorrowerDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_us-gaapClassOfFinancingReceivableTypeOfBorrowerAxis" xlink:to="loc_us-gaapClassOfFinancingReceivableTypeOfBorrowerDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_ContractualBasisMember" xlink:label="loc_SHEPHContractualBasisMember_0" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapClassOfFinancingReceivableTypeOfBorrowerDomain" xlink:to="loc_SHEPHContractualBasisMember_0" xlink:type="arc" order="3" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_RecencyBasisMember" xlink:label="loc_SHEPHRecencyBasisMember_70" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapClassOfFinancingReceivableTypeOfBorrowerDomain" xlink:to="loc_SHEPHRecencyBasisMember_70" xlink:type="arc" order="72" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_NumberOfLoans" xlink:label="loc_SHEPHNumberOfLoans_160" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" xlink:to="loc_SHEPHNumberOfLoans_160" xlink:type="arc" order="0" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_NotesReceivableNet" xlink:label="loc_us-gaapNotesReceivableNet_160" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" xlink:to="loc_us-gaapNotesReceivableNet_160" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivablePercentPastDue1" xlink:label="loc_us-gaapFinancingReceivablePercentPastDue1_160" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" xlink:to="loc_us-gaapFinancingReceivablePercentPastDue1_160" xlink:type="arc" order="2" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_NumberOfInterestOnlyAccounts" xlink:label="loc_SHEPHNumberOfInterestOnlyAccounts_160" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" xlink:to="loc_SHEPHNumberOfInterestOnlyAccounts_160" xlink:type="arc" order="3" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_FinancingReceivableInterestIncomeReceivedInPast" xlink:label="loc_SHEPHFinancingReceivableInterestIncomeReceivedInPast_160" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" xlink:to="loc_SHEPHFinancingReceivableInterestIncomeReceivedInPast_160" xlink:type="arc" order="4" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_FinancingReceivablesPercentageOfInterestOnlyAccounts" xlink:label="loc_SHEPHFinancingReceivablesPercentageOfInterestOnlyAccounts_160" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" xlink:to="loc_SHEPHFinancingReceivablesPercentageOfInterestOnlyAccounts_160" xlink:type="arc" order="5" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_NumberOfPartialPaymentAccounts" xlink:label="loc_SHEPHNumberOfPartialPaymentAccounts_160" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" xlink:to="loc_SHEPHNumberOfPartialPaymentAccounts_160" xlink:type="arc" order="6" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_FinancingReceivablePartialPaymentAccounts" xlink:label="loc_SHEPHFinancingReceivablePartialPaymentAccounts_160" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" xlink:to="loc_SHEPHFinancingReceivablePartialPaymentAccounts_160" xlink:type="arc" order="7" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_FinancingReceivablesPercentageOfPartialPaymentAccounts" xlink:label="loc_SHEPHFinancingReceivablesPercentageOfPartialPaymentAccounts_160" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" xlink:to="loc_SHEPHFinancingReceivablesPercentageOfPartialPaymentAccounts_160" xlink:type="arc" order="8" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_NumberOfLoansOutstanding" xlink:label="loc_SHEPHNumberOfLoansOutstanding_160" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" xlink:to="loc_SHEPHNumberOfLoansOutstanding_160" xlink:type="arc" order="9" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_FinancingReceivableNonaccrualToOutstandingPercent" xlink:label="loc_srtFinancingReceivableNonaccrualToOutstandingPercent_160" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" xlink:to="loc_srtFinancingReceivableNonaccrualToOutstandingPercent_160" xlink:type="arc" order="10" />
    </link:definitionLink>
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/ScheduleOfAllowanceForCreditLossesDetails" xlink:title="999067 - Disclosure - Schedule of Allowance for Credit Losses (Details)">
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivableRecordedInvestmentPastDueLineItems" xlink:label="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ScheduleOfFinancingReceivablesPastDueTable" xlink:label="loc_us-gaapScheduleOfFinancingReceivablesPastDueTable" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xbrldt:contextElement="segment" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" xlink:to="loc_us-gaapScheduleOfFinancingReceivablesPastDueTable" xlink:type="arc" order="10" xbrldt:closed="true" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancialInstrumentPerformanceStatusAxis" xlink:label="loc_us-gaapFinancialInstrumentPerformanceStatusAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapScheduleOfFinancingReceivablesPastDueTable" xlink:to="loc_us-gaapFinancialInstrumentPerformanceStatusAxis" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancialInstrumentPerformanceStatusDomain" xlink:label="loc_us-gaapFinancialInstrumentPerformanceStatusDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaapFinancialInstrumentPerformanceStatusAxis" xlink:to="loc_us-gaapFinancialInstrumentPerformanceStatusDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancialInstrumentPerformanceStatusDomain" xlink:label="loc_us-gaapFinancialInstrumentPerformanceStatusDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_us-gaapFinancialInstrumentPerformanceStatusAxis" xlink:to="loc_us-gaapFinancialInstrumentPerformanceStatusDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PerformingFinancingReceivableMember" xlink:label="loc_us-gaapPerformingFinancingReceivableMember_0" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancialInstrumentPerformanceStatusDomain" xlink:to="loc_us-gaapPerformingFinancingReceivableMember_0" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivablePortfolioSegmentAxis" xlink:label="loc_us-gaapFinancingReceivablePortfolioSegmentAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapScheduleOfFinancingReceivablesPastDueTable" xlink:to="loc_us-gaapFinancingReceivablePortfolioSegmentAxis" xlink:type="arc" order="2" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivablePortfolioSegmentDomain" xlink:label="loc_us-gaapFinancingReceivablePortfolioSegmentDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaapFinancingReceivablePortfolioSegmentAxis" xlink:to="loc_us-gaapFinancingReceivablePortfolioSegmentDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivablePortfolioSegmentDomain" xlink:label="loc_us-gaapFinancingReceivablePortfolioSegmentDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_us-gaapFinancingReceivablePortfolioSegmentAxis" xlink:to="loc_us-gaapFinancingReceivablePortfolioSegmentDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_ConstructionLoansACreditRiskMember" xlink:label="loc_SHEPHConstructionLoansACreditRiskMember_0" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivablePortfolioSegmentDomain" xlink:to="loc_SHEPHConstructionLoansACreditRiskMember_0" xlink:type="arc" order="2" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_ConstructionLoansBCreditRiskMember" xlink:label="loc_SHEPHConstructionLoansBCreditRiskMember_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivablePortfolioSegmentDomain" xlink:to="loc_SHEPHConstructionLoansBCreditRiskMember_10" xlink:type="arc" order="12" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_ConstructionLoansCCreditRiskMember" xlink:label="loc_SHEPHConstructionLoansCCreditRiskMember_20" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivablePortfolioSegmentDomain" xlink:to="loc_SHEPHConstructionLoansCCreditRiskMember_20" xlink:type="arc" order="22" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ConstructionLoansMember" xlink:label="loc_us-gaapConstructionLoansMember_30" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivablePortfolioSegmentDomain" xlink:to="loc_us-gaapConstructionLoansMember_30" xlink:type="arc" order="32" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_DevelopmentLoansACreditRiskMember" xlink:label="loc_SHEPHDevelopmentLoansACreditRiskMember_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivablePortfolioSegmentDomain" xlink:to="loc_SHEPHDevelopmentLoansACreditRiskMember_40" xlink:type="arc" order="42" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_DevelopmentLoansBCreditRiskMember" xlink:label="loc_SHEPHDevelopmentLoansBCreditRiskMember_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivablePortfolioSegmentDomain" xlink:to="loc_SHEPHDevelopmentLoansBCreditRiskMember_50" xlink:type="arc" order="52" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_DevelopmentLoansCCreditRiskMember" xlink:label="loc_SHEPHDevelopmentLoansCCreditRiskMember_60" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivablePortfolioSegmentDomain" xlink:to="loc_SHEPHDevelopmentLoansCCreditRiskMember_60" xlink:type="arc" order="62" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_DevelopmentLoansMember" xlink:label="loc_SHEPHDevelopmentLoansMember_70" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivablePortfolioSegmentDomain" xlink:to="loc_SHEPHDevelopmentLoansMember_70" xlink:type="arc" order="72" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis" xlink:label="loc_us-gaapFinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapScheduleOfFinancingReceivablesPastDueTable" xlink:to="loc_us-gaapFinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis" xlink:type="arc" order="3" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain" xlink:label="loc_us-gaapFinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis" xlink:to="loc_us-gaapFinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain" xlink:label="loc_us-gaapFinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis" xlink:to="loc_us-gaapFinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_UnfundedLoanCommitmentMember" xlink:label="loc_us-gaapUnfundedLoanCommitmentMember_270" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain" xlink:to="loc_us-gaapUnfundedLoanCommitmentMember_270" xlink:type="arc" order="271" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AdjustmentsForNewAccountingPronouncementsAxis" xlink:label="loc_us-gaapAdjustmentsForNewAccountingPronouncementsAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapScheduleOfFinancingReceivablesPastDueTable" xlink:to="loc_us-gaapAdjustmentsForNewAccountingPronouncementsAxis" xlink:type="arc" order="4" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_TypeOfAdoptionMember" xlink:label="loc_us-gaapTypeOfAdoptionMember" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaapAdjustmentsForNewAccountingPronouncementsAxis" xlink:to="loc_us-gaapTypeOfAdoptionMember" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_TypeOfAdoptionMember" xlink:label="loc_us-gaapTypeOfAdoptionMember_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_us-gaapAdjustmentsForNewAccountingPronouncementsAxis" xlink:to="loc_us-gaapTypeOfAdoptionMember_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AccountingStandardsUpdate201613Member" xlink:label="loc_us-gaapAccountingStandardsUpdate201613Member_720" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapTypeOfAdoptionMember" xlink:to="loc_us-gaapAccountingStandardsUpdate201613Member_720" xlink:type="arc" order="723" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_CumulativeEffectPeriodOfAdoptionAxis" xlink:label="loc_srtCumulativeEffectPeriodOfAdoptionAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapScheduleOfFinancingReceivablesPastDueTable" xlink:to="loc_srtCumulativeEffectPeriodOfAdoptionAxis" xlink:type="arc" order="5" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_CumulativeEffectPeriodOfAdoptionDomain" xlink:label="loc_srtCumulativeEffectPeriodOfAdoptionDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_srtCumulativeEffectPeriodOfAdoptionAxis" xlink:to="loc_srtCumulativeEffectPeriodOfAdoptionDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_CumulativeEffectPeriodOfAdoptionDomain" xlink:label="loc_srtCumulativeEffectPeriodOfAdoptionDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_srtCumulativeEffectPeriodOfAdoptionAxis" xlink:to="loc_srtCumulativeEffectPeriodOfAdoptionDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_CumulativeEffectPeriodOfAdoptionAdjustmentMember" xlink:label="loc_srtCumulativeEffectPeriodOfAdoptionAdjustmentMember_720" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srtCumulativeEffectPeriodOfAdoptionDomain" xlink:to="loc_srtCumulativeEffectPeriodOfAdoptionAdjustmentMember_720" xlink:type="arc" order="724" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivableAllowanceForCreditLosses" xlink:label="loc_us-gaapFinancingReceivableAllowanceForCreditLosses_1000" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" xlink:to="loc_us-gaapFinancingReceivableAllowanceForCreditLosses_1000" xlink:type="arc" order="0" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivableAllowanceForCreditLossesWriteOffs" xlink:label="loc_us-gaapFinancingReceivableAllowanceForCreditLossesWriteOffs_1000" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" xlink:to="loc_us-gaapFinancingReceivableAllowanceForCreditLossesWriteOffs_1000" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivableAllowanceForCreditLossesRecovery" xlink:label="loc_us-gaapFinancingReceivableAllowanceForCreditLossesRecovery_1000" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" xlink:to="loc_us-gaapFinancingReceivableAllowanceForCreditLossesRecovery_1000" xlink:type="arc" order="2" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ProvisionForOtherLosses" xlink:label="loc_us-gaapProvisionForOtherLosses_1000" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" xlink:to="loc_us-gaapProvisionForOtherLosses_1000" xlink:type="arc" order="3" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ProvisionForLoanLeaseAndOtherLosses" xlink:label="loc_us-gaapProvisionForLoanLeaseAndOtherLosses_1000" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" xlink:to="loc_us-gaapProvisionForLoanLeaseAndOtherLosses_1000" xlink:type="arc" order="5" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_FinancingReceivableAllowanceForCreditLossesReclassificationOfUnfundedCommitments" xlink:label="loc_SHEPHFinancingReceivableAllowanceForCreditLossesReclassificationOfUnfundedCommitments_1000" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" xlink:to="loc_SHEPHFinancingReceivableAllowanceForCreditLossesReclassificationOfUnfundedCommitments_1000" xlink:type="arc" order="6" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_AllowanceForNotesAndLoansReceivableCurrentImpactOfAdoption" xlink:label="loc_SHEPHAllowanceForNotesAndLoansReceivableCurrentImpactOfAdoption_1000" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" xlink:to="loc_SHEPHAllowanceForNotesAndLoansReceivableCurrentImpactOfAdoption_1000" xlink:type="arc" order="7" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivableAllowanceForCreditLossLoanSold" xlink:label="loc_us-gaapFinancingReceivableAllowanceForCreditLossLoanSold_1000" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" xlink:to="loc_us-gaapFinancingReceivableAllowanceForCreditLossLoanSold_1000" xlink:type="arc" order="8" />
    </link:definitionLink>
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/ScheduleOfLoanPortfolioByYearOfOriginationCategoryAndCreditQualityIndicatorDetails" xlink:title="999068 - Disclosure - Schedule of Loan Portfolio by Year of Origination, Category, and Credit Quality Indicator (Details)">
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivableRecordedInvestmentPastDueLineItems" xlink:label="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ScheduleOfFinancingReceivablesPastDueTable" xlink:label="loc_us-gaapScheduleOfFinancingReceivablesPastDueTable" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xbrldt:contextElement="segment" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" xlink:to="loc_us-gaapScheduleOfFinancingReceivablesPastDueTable" xlink:type="arc" order="10" xbrldt:closed="true" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis" xlink:label="loc_us-gaapFinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapScheduleOfFinancingReceivablesPastDueTable" xlink:to="loc_us-gaapFinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain" xlink:label="loc_us-gaapFinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis" xlink:to="loc_us-gaapFinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain" xlink:label="loc_us-gaapFinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis" xlink:to="loc_us-gaapFinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ConstructionLoansMember" xlink:label="loc_us-gaapConstructionLoansMember_0" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain" xlink:to="loc_us-gaapConstructionLoansMember_0" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_DevelopmentLoansMember" xlink:label="loc_SHEPHDevelopmentLoansMember_60" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain" xlink:to="loc_SHEPHDevelopmentLoansMember_60" xlink:type="arc" order="61" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ManagingRisksInherentInServicingAssetsAndServicingLiabilitiesByTypeOfRiskAxis" xlink:label="loc_us-gaapManagingRisksInherentInServicingAssetsAndServicingLiabilitiesByTypeOfRiskAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapScheduleOfFinancingReceivablesPastDueTable" xlink:to="loc_us-gaapManagingRisksInherentInServicingAssetsAndServicingLiabilitiesByTypeOfRiskAxis" xlink:type="arc" order="2" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RisksInherentInServicingAssetsAndServicingLiabilitiesTypeDomain" xlink:label="loc_us-gaapRisksInherentInServicingAssetsAndServicingLiabilitiesTypeDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaapManagingRisksInherentInServicingAssetsAndServicingLiabilitiesByTypeOfRiskAxis" xlink:to="loc_us-gaapRisksInherentInServicingAssetsAndServicingLiabilitiesTypeDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RisksInherentInServicingAssetsAndServicingLiabilitiesTypeDomain" xlink:label="loc_us-gaapRisksInherentInServicingAssetsAndServicingLiabilitiesTypeDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_us-gaapManagingRisksInherentInServicingAssetsAndServicingLiabilitiesByTypeOfRiskAxis" xlink:to="loc_us-gaapRisksInherentInServicingAssetsAndServicingLiabilitiesTypeDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_ACreditRiskMember" xlink:label="loc_SHEPHACreditRiskMember_0" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapRisksInherentInServicingAssetsAndServicingLiabilitiesTypeDomain" xlink:to="loc_SHEPHACreditRiskMember_0" xlink:type="arc" order="2" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_BCreditRiskMember" xlink:label="loc_SHEPHBCreditRiskMember_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapRisksInherentInServicingAssetsAndServicingLiabilitiesTypeDomain" xlink:to="loc_SHEPHBCreditRiskMember_10" xlink:type="arc" order="12" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_CCreditRiskMember" xlink:label="loc_SHEPHCCreditRiskMember_20" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapRisksInherentInServicingAssetsAndServicingLiabilitiesTypeDomain" xlink:to="loc_SHEPHCCreditRiskMember_20" xlink:type="arc" order="22" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_IndividuallyEvaluatedMember" xlink:label="loc_SHEPHIndividuallyEvaluatedMember_30" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapRisksInherentInServicingAssetsAndServicingLiabilitiesTypeDomain" xlink:to="loc_SHEPHIndividuallyEvaluatedMember_30" xlink:type="arc" order="32" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivableOriginatedInCurrentFiscalYear" xlink:label="loc_us-gaapFinancingReceivableOriginatedInCurrentFiscalYear_270" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" xlink:to="loc_us-gaapFinancingReceivableOriginatedInCurrentFiscalYear_270" xlink:type="arc" order="0" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivableOriginatedInFiscalYearBeforeLatestFiscalYear" xlink:label="loc_us-gaapFinancingReceivableOriginatedInFiscalYearBeforeLatestFiscalYear_270" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" xlink:to="loc_us-gaapFinancingReceivableOriginatedInFiscalYearBeforeLatestFiscalYear_270" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivableOriginatedTwoYearsBeforeLatestFiscalYear" xlink:label="loc_us-gaapFinancingReceivableOriginatedTwoYearsBeforeLatestFiscalYear_270" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" xlink:to="loc_us-gaapFinancingReceivableOriginatedTwoYearsBeforeLatestFiscalYear_270" xlink:type="arc" order="2" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivableOriginatedThreeYearsBeforeLatestFiscalYear" xlink:label="loc_us-gaapFinancingReceivableOriginatedThreeYearsBeforeLatestFiscalYear_270" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" xlink:to="loc_us-gaapFinancingReceivableOriginatedThreeYearsBeforeLatestFiscalYear_270" xlink:type="arc" order="3" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivableOriginatedFourYearsBeforeLatestFiscalYear" xlink:label="loc_us-gaapFinancingReceivableOriginatedFourYearsBeforeLatestFiscalYear_270" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" xlink:to="loc_us-gaapFinancingReceivableOriginatedFourYearsBeforeLatestFiscalYear_270" xlink:type="arc" order="4" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivableOriginatedFiveOrMoreYearsBeforeLatestFiscalYear" xlink:label="loc_us-gaapFinancingReceivableOriginatedFiveOrMoreYearsBeforeLatestFiscalYear_270" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" xlink:to="loc_us-gaapFinancingReceivableOriginatedFiveOrMoreYearsBeforeLatestFiscalYear_270" xlink:type="arc" order="5" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivableRevolving" xlink:label="loc_us-gaapFinancingReceivableRevolving_270" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" xlink:to="loc_us-gaapFinancingReceivableRevolving_270" xlink:type="arc" order="6" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivableYearOneOriginatedCurrentFiscalYearWriteoff" xlink:label="loc_us-gaapFinancingReceivableYearOneOriginatedCurrentFiscalYearWriteoff_270" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" xlink:to="loc_us-gaapFinancingReceivableYearOneOriginatedCurrentFiscalYearWriteoff_270" xlink:type="arc" order="7" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivableYearTwoOriginatedFiscalYearBeforeCurrentFiscalYearWriteoff" xlink:label="loc_us-gaapFinancingReceivableYearTwoOriginatedFiscalYearBeforeCurrentFiscalYearWriteoff_270" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" xlink:to="loc_us-gaapFinancingReceivableYearTwoOriginatedFiscalYearBeforeCurrentFiscalYearWriteoff_270" xlink:type="arc" order="8" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivableYearThreeOriginatedTwoYearsBeforeCurrentFiscalYearWriteoff" xlink:label="loc_us-gaapFinancingReceivableYearThreeOriginatedTwoYearsBeforeCurrentFiscalYearWriteoff_270" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" xlink:to="loc_us-gaapFinancingReceivableYearThreeOriginatedTwoYearsBeforeCurrentFiscalYearWriteoff_270" xlink:type="arc" order="9" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivableYearFourOriginatedThreeYearsBeforeCurrentFiscalYearWriteoff" xlink:label="loc_us-gaapFinancingReceivableYearFourOriginatedThreeYearsBeforeCurrentFiscalYearWriteoff_270" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" xlink:to="loc_us-gaapFinancingReceivableYearFourOriginatedThreeYearsBeforeCurrentFiscalYearWriteoff_270" xlink:type="arc" order="10" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivableYearFiveOriginatedFourYearsBeforeCurrentFiscalYearWriteoff" xlink:label="loc_us-gaapFinancingReceivableYearFiveOriginatedFourYearsBeforeCurrentFiscalYearWriteoff_270" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" xlink:to="loc_us-gaapFinancingReceivableYearFiveOriginatedFourYearsBeforeCurrentFiscalYearWriteoff_270" xlink:type="arc" order="11" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivableOriginatedMoreThanFiveYearsBeforeCurrentFiscalYearWriteoff" xlink:label="loc_us-gaapFinancingReceivableOriginatedMoreThanFiveYearsBeforeCurrentFiscalYearWriteoff_270" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" xlink:to="loc_us-gaapFinancingReceivableOriginatedMoreThanFiveYearsBeforeCurrentFiscalYearWriteoff_270" xlink:type="arc" order="12" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivableAllowanceForCreditLossesWriteOffs" xlink:label="loc_us-gaapFinancingReceivableAllowanceForCreditLossesWriteOffs_270" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" xlink:to="loc_us-gaapFinancingReceivableAllowanceForCreditLossesWriteOffs_270" xlink:type="arc" order="13" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_FinancingReceivableOriginatedFiveYearsBeforeLatestFiscalYear" xlink:label="loc_SHEPHFinancingReceivableOriginatedFiveYearsBeforeLatestFiscalYear_270" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" xlink:to="loc_SHEPHFinancingReceivableOriginatedFiveYearsBeforeLatestFiscalYear_270" xlink:type="arc" order="14" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_FinancingReceivableOriginatedFiveYearBeforeCurrentFiscalYearWriteoff" xlink:label="loc_SHEPHFinancingReceivableOriginatedFiveYearBeforeCurrentFiscalYearWriteoff_270" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableRecordedInvestmentPastDueLineItems" xlink:to="loc_SHEPHFinancingReceivableOriginatedFiveYearBeforeCurrentFiscalYearWriteoff_270" xlink:type="arc" order="15" />
    </link:definitionLink>
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/ScheduleOfConcentrationRisksDetails" xlink:title="999069 - Disclosure - Schedule of Concentration Risks (Details)">
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AccountsNotesAndLoansReceivableLineItems" xlink:label="loc_us-gaapAccountsNotesAndLoansReceivableLineItems" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTable" xlink:label="loc_us-gaapScheduleOfAccountsNotesLoansAndFinancingReceivableTable" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xbrldt:contextElement="segment" xlink:from="loc_us-gaapAccountsNotesAndLoansReceivableLineItems" xlink:to="loc_us-gaapScheduleOfAccountsNotesLoansAndFinancingReceivableTable" xlink:type="arc" order="10" xbrldt:closed="true" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_MajorCustomersAxis" xlink:label="loc_srtMajorCustomersAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapScheduleOfAccountsNotesLoansAndFinancingReceivableTable" xlink:to="loc_srtMajorCustomersAxis" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_NameOfMajorCustomerDomain" xlink:label="loc_srtNameOfMajorCustomerDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_srtMajorCustomersAxis" xlink:to="loc_srtNameOfMajorCustomerDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_NameOfMajorCustomerDomain" xlink:label="loc_srtNameOfMajorCustomerDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_srtMajorCustomersAxis" xlink:to="loc_srtNameOfMajorCustomerDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_HighestConcentrationRiskMember" xlink:label="loc_SHEPHHighestConcentrationRiskMember_0" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srtNameOfMajorCustomerDomain" xlink:to="loc_SHEPHHighestConcentrationRiskMember_0" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_SecondHighestConcentrationRiskMember" xlink:label="loc_SHEPHSecondHighestConcentrationRiskMember_20" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srtNameOfMajorCustomerDomain" xlink:to="loc_SHEPHSecondHighestConcentrationRiskMember_20" xlink:type="arc" order="21" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_ThirdHighestConcentrationRiskMember" xlink:label="loc_SHEPHThirdHighestConcentrationRiskMember_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srtNameOfMajorCustomerDomain" xlink:to="loc_SHEPHThirdHighestConcentrationRiskMember_40" xlink:type="arc" order="41" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ConcentrationRiskByBenchmarkAxis" xlink:label="loc_us-gaapConcentrationRiskByBenchmarkAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapScheduleOfAccountsNotesLoansAndFinancingReceivableTable" xlink:to="loc_us-gaapConcentrationRiskByBenchmarkAxis" xlink:type="arc" order="2" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ConcentrationRiskBenchmarkDomain" xlink:label="loc_us-gaapConcentrationRiskBenchmarkDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaapConcentrationRiskByBenchmarkAxis" xlink:to="loc_us-gaapConcentrationRiskBenchmarkDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ConcentrationRiskBenchmarkDomain" xlink:label="loc_us-gaapConcentrationRiskBenchmarkDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_us-gaapConcentrationRiskByBenchmarkAxis" xlink:to="loc_us-gaapConcentrationRiskBenchmarkDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LoansReceivableMember" xlink:label="loc_us-gaapLoansReceivableMember_0" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapConcentrationRiskBenchmarkDomain" xlink:to="loc_us-gaapLoansReceivableMember_0" xlink:type="arc" order="2" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ConcentrationRiskByTypeAxis" xlink:label="loc_us-gaapConcentrationRiskByTypeAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapScheduleOfAccountsNotesLoansAndFinancingReceivableTable" xlink:to="loc_us-gaapConcentrationRiskByTypeAxis" xlink:type="arc" order="3" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ConcentrationRiskTypeDomain" xlink:label="loc_us-gaapConcentrationRiskTypeDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaapConcentrationRiskByTypeAxis" xlink:to="loc_us-gaapConcentrationRiskTypeDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ConcentrationRiskTypeDomain" xlink:label="loc_us-gaapConcentrationRiskTypeDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_us-gaapConcentrationRiskByTypeAxis" xlink:to="loc_us-gaapConcentrationRiskTypeDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_CustomerConcentrationRiskMember" xlink:label="loc_us-gaapCustomerConcentrationRiskMember_0" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapConcentrationRiskTypeDomain" xlink:to="loc_us-gaapCustomerConcentrationRiskMember_0" xlink:type="arc" order="3" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ConcentrationRiskGeographic" xlink:label="loc_us-gaapConcentrationRiskGeographic_70" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapAccountsNotesAndLoansReceivableLineItems" xlink:to="loc_us-gaapConcentrationRiskGeographic_70" xlink:type="arc" order="0" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ConcentrationRiskPercentage1" xlink:label="loc_us-gaapConcentrationRiskPercentage1_70" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapAccountsNotesAndLoansReceivableLineItems" xlink:to="loc_us-gaapConcentrationRiskPercentage1_70" xlink:type="arc" order="1" />
    </link:definitionLink>
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/LoansReceivablesNetDetailsNarrative" xlink:title="999070 - Disclosure - Loans Receivables, net (Details Narrative)">
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivableModificationsLineItems" xlink:label="loc_us-gaapFinancingReceivableModificationsLineItems" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ScheduleOfFinancingReceivableTroubledDebtRestructuringsTable" xlink:label="loc_us-gaapScheduleOfFinancingReceivableTroubledDebtRestructuringsTable" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xbrldt:contextElement="segment" xlink:from="loc_us-gaapFinancingReceivableModificationsLineItems" xlink:to="loc_us-gaapScheduleOfFinancingReceivableTroubledDebtRestructuringsTable" xlink:type="arc" order="10" xbrldt:closed="true" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_RangeAxis" xlink:label="loc_srtRangeAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapScheduleOfFinancingReceivableTroubledDebtRestructuringsTable" xlink:to="loc_srtRangeAxis" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_RangeMember" xlink:label="loc_srtRangeMember" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_srtRangeAxis" xlink:to="loc_srtRangeMember" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_RangeMember" xlink:label="loc_srtRangeMember_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_srtRangeAxis" xlink:to="loc_srtRangeMember_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_MinimumMember" xlink:label="loc_srtMinimumMember_0" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srtRangeMember" xlink:to="loc_srtMinimumMember_0" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_MaximumMember" xlink:label="loc_srtMaximumMember_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srtRangeMember" xlink:to="loc_srtMaximumMember_10" xlink:type="arc" order="11" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_TypeOfArrangementAxis" xlink:label="loc_us-gaapTypeOfArrangementAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapScheduleOfFinancingReceivableTroubledDebtRestructuringsTable" xlink:to="loc_us-gaapTypeOfArrangementAxis" xlink:type="arc" order="2" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ArrangementsAndNonarrangementTransactionsMember" xlink:label="loc_us-gaapArrangementsAndNonarrangementTransactionsMember" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaapTypeOfArrangementAxis" xlink:to="loc_us-gaapArrangementsAndNonarrangementTransactionsMember" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ArrangementsAndNonarrangementTransactionsMember" xlink:label="loc_us-gaapArrangementsAndNonarrangementTransactionsMember_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_us-gaapTypeOfArrangementAxis" xlink:to="loc_us-gaapArrangementsAndNonarrangementTransactionsMember_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_ForbearanceAgreementMember" xlink:label="loc_SHEPHForbearanceAgreementMember_30" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapArrangementsAndNonarrangementTransactionsMember" xlink:to="loc_SHEPHForbearanceAgreementMember_30" xlink:type="arc" order="31" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_PercentageOnPortionOfConstructionCosts" xlink:label="loc_SHEPHPercentageOnPortionOfConstructionCosts_90" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableModificationsLineItems" xlink:to="loc_SHEPHPercentageOnPortionOfConstructionCosts_90" xlink:type="arc" order="0" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DebtInstrumentInterestRateEffectivePercentage" xlink:label="loc_us-gaapDebtInstrumentInterestRateEffectivePercentage_90" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableModificationsLineItems" xlink:to="loc_us-gaapDebtInstrumentInterestRateEffectivePercentage_90" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DebtDefaultLongtermDebtAmount" xlink:label="loc_us-gaapDebtDefaultLongtermDebtAmount_90" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableModificationsLineItems" xlink:to="loc_us-gaapDebtDefaultLongtermDebtAmount_90" xlink:type="arc" order="2" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DebtInstrumentIncreaseAccruedInterest" xlink:label="loc_us-gaapDebtInstrumentIncreaseAccruedInterest_90" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableModificationsLineItems" xlink:to="loc_us-gaapDebtInstrumentIncreaseAccruedInterest_90" xlink:type="arc" order="3" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LoansPayable" xlink:label="loc_us-gaapLoansPayable_90" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableModificationsLineItems" xlink:to="loc_us-gaapLoansPayable_90" xlink:type="arc" order="4" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_UnfundedLoanCommitments" xlink:label="loc_SHEPHUnfundedLoanCommitments_90" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableModificationsLineItems" xlink:to="loc_SHEPHUnfundedLoanCommitments_90" xlink:type="arc" order="5" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_AllowanceForCreditLossesOnUnfundedLoanCommitments" xlink:label="loc_SHEPHAllowanceForCreditLossesOnUnfundedLoanCommitments_90" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapFinancingReceivableModificationsLineItems" xlink:to="loc_SHEPHAllowanceForCreditLossesOnUnfundedLoanCommitments_90" xlink:type="arc" order="6" />
    </link:definitionLink>
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/ScheduleOfRollForwardOfForeclosedAssetsDetails" xlink:title="999071 - Disclosure - Schedule of Roll Forward of Foreclosed Assets (Details)" />
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/ScheduleOfBorrowingsDetails" xlink:title="999072 - Disclosure - Schedule of Borrowings (Details)">
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DebtSecuritiesHeldtomaturityAllowanceForCreditLossLineItems" xlink:label="loc_us-gaapDebtSecuritiesHeldtomaturityAllowanceForCreditLossLineItems" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DebtSecuritiesHeldToMaturityAllowanceForCreditLossTable" xlink:label="loc_us-gaapDebtSecuritiesHeldToMaturityAllowanceForCreditLossTable" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xbrldt:contextElement="segment" xlink:from="loc_us-gaapDebtSecuritiesHeldtomaturityAllowanceForCreditLossLineItems" xlink:to="loc_us-gaapDebtSecuritiesHeldToMaturityAllowanceForCreditLossTable" xlink:type="arc" order="10" xbrldt:closed="true" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancialInstrumentAxis" xlink:label="loc_us-gaapFinancialInstrumentAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapDebtSecuritiesHeldToMaturityAllowanceForCreditLossTable" xlink:to="loc_us-gaapFinancialInstrumentAxis" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xlink:label="loc_us-gaapTransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaapFinancialInstrumentAxis" xlink:to="loc_us-gaapTransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xlink:label="loc_us-gaapTransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_us-gaapFinancialInstrumentAxis" xlink:to="loc_us-gaapTransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LongTermDebtMember" xlink:label="loc_us-gaapLongTermDebtMember_0" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapTransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xlink:to="loc_us-gaapLongTermDebtMember_0" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ShortTermBorrowings" xlink:label="loc_us-gaapShortTermBorrowings_30" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtSecuritiesHeldtomaturityAllowanceForCreditLossLineItems" xlink:to="loc_us-gaapShortTermBorrowings_30" xlink:type="arc" order="0" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_SecuredLineOfCreditFromAffiliates" xlink:label="loc_SHEPHSecuredLineOfCreditFromAffiliates_30" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtSecuritiesHeldtomaturityAllowanceForCreditLossLineItems" xlink:to="loc_SHEPHSecuredLineOfCreditFromAffiliates_30" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_SecuredDeferredFinanceCostsNet" xlink:label="loc_SHEPHSecuredDeferredFinanceCostsNet_30" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtSecuritiesHeldtomaturityAllowanceForCreditLossLineItems" xlink:to="loc_SHEPHSecuredDeferredFinanceCostsNet_30" xlink:type="arc" order="2" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_SecuredDebt" xlink:label="loc_us-gaapSecuredDebt_30" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtSecuritiesHeldtomaturityAllowanceForCreditLossLineItems" xlink:to="loc_us-gaapSecuredDebt_30" xlink:type="arc" order="3" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_UnsecuredLineOfCreditSenior" xlink:label="loc_SHEPHUnsecuredLineOfCreditSenior_30" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtSecuritiesHeldtomaturityAllowanceForCreditLossLineItems" xlink:to="loc_SHEPHUnsecuredLineOfCreditSenior_30" xlink:type="arc" order="4" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_OtherUnsecuredBorrowingsSeniorSubordinated" xlink:label="loc_SHEPHOtherUnsecuredBorrowingsSeniorSubordinated_30" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtSecuritiesHeldtomaturityAllowanceForCreditLossLineItems" xlink:to="loc_SHEPHOtherUnsecuredBorrowingsSeniorSubordinated_30" xlink:type="arc" order="5" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_UnsecuredNotesThroughOurPublicOfferingGross" xlink:label="loc_SHEPHUnsecuredNotesThroughOurPublicOfferingGross_30" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtSecuritiesHeldtomaturityAllowanceForCreditLossLineItems" xlink:to="loc_SHEPHUnsecuredNotesThroughOurPublicOfferingGross_30" xlink:type="arc" order="6" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_SubordinatedDebt" xlink:label="loc_us-gaapSubordinatedDebt_30" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtSecuritiesHeldtomaturityAllowanceForCreditLossLineItems" xlink:to="loc_us-gaapSubordinatedDebt_30" xlink:type="arc" order="7" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_JuniorSubordinatedNotes" xlink:label="loc_us-gaapJuniorSubordinatedNotes_30" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtSecuritiesHeldtomaturityAllowanceForCreditLossLineItems" xlink:to="loc_us-gaapJuniorSubordinatedNotes_30" xlink:type="arc" order="8" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_UnsecuredDeferredFinanceCostsNet" xlink:label="loc_SHEPHUnsecuredDeferredFinanceCostsNet_30" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtSecuritiesHeldtomaturityAllowanceForCreditLossLineItems" xlink:to="loc_SHEPHUnsecuredDeferredFinanceCostsNet_30" xlink:type="arc" order="9" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_UnsecuredDebt" xlink:label="loc_us-gaapUnsecuredDebt_30" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtSecuritiesHeldtomaturityAllowanceForCreditLossLineItems" xlink:to="loc_us-gaapUnsecuredDebt_30" xlink:type="arc" order="10" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LongTermDebt" xlink:label="loc_us-gaapLongTermDebt_30" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtSecuritiesHeldtomaturityAllowanceForCreditLossLineItems" xlink:to="loc_us-gaapLongTermDebt_30" xlink:type="arc" order="11" />
    </link:definitionLink>
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/ScheduleOfMaturityOfDebtDetails" xlink:title="999073 - Disclosure - Schedule of Maturity of Debt (Details)">
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ShortTermDebtLineItems" xlink:label="loc_us-gaapShortTermDebtLineItems" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ScheduleOfShortTermDebtTable" xlink:label="loc_us-gaapScheduleOfShortTermDebtTable" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xbrldt:contextElement="segment" xlink:from="loc_us-gaapShortTermDebtLineItems" xlink:to="loc_us-gaapScheduleOfShortTermDebtTable" xlink:type="arc" order="10" xbrldt:closed="true" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DebtInstrumentAxis" xlink:label="loc_us-gaapDebtInstrumentAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapScheduleOfShortTermDebtTable" xlink:to="loc_us-gaapDebtInstrumentAxis" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DebtInstrumentNameDomain" xlink:label="loc_us-gaapDebtInstrumentNameDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaapDebtInstrumentAxis" xlink:to="loc_us-gaapDebtInstrumentNameDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DebtInstrumentNameDomain" xlink:label="loc_us-gaapDebtInstrumentNameDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_us-gaapDebtInstrumentAxis" xlink:to="loc_us-gaapDebtInstrumentNameDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_PublicOfferingMember" xlink:label="loc_SHEPHPublicOfferingMember_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtInstrumentNameDomain" xlink:to="loc_SHEPHPublicOfferingMember_10" xlink:type="arc" order="11" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_UnsecuredDebtMember" xlink:label="loc_us-gaapUnsecuredDebtMember_20" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtInstrumentNameDomain" xlink:to="loc_us-gaapUnsecuredDebtMember_20" xlink:type="arc" order="21" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_SecuredBorrowingsMember" xlink:label="loc_SHEPHSecuredBorrowingsMember_30" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtInstrumentNameDomain" xlink:to="loc_SHEPHSecuredBorrowingsMember_30" xlink:type="arc" order="31" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xlink:label="loc_us-gaapLongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapShortTermDebtLineItems" xlink:to="loc_us-gaapLongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_50" xlink:type="arc" order="0" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" xlink:label="loc_us-gaapLongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapShortTermDebtLineItems" xlink:to="loc_us-gaapLongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_50" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:label="loc_us-gaapLongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapShortTermDebtLineItems" xlink:to="loc_us-gaapLongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_50" xlink:type="arc" order="2" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:label="loc_us-gaapLongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapShortTermDebtLineItems" xlink:to="loc_us-gaapLongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_50" xlink:type="arc" order="3" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFiveAndThereafter" xlink:label="loc_SHEPHLongTermDebtMaturitiesRepaymentsOfPrincipalInYearFiveAndThereafter_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapShortTermDebtLineItems" xlink:to="loc_SHEPHLongTermDebtMaturitiesRepaymentsOfPrincipalInYearFiveAndThereafter_50" xlink:type="arc" order="4" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LongTermDebt" xlink:label="loc_us-gaapLongTermDebt_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapShortTermDebtLineItems" xlink:to="loc_us-gaapLongTermDebt_50" xlink:type="arc" order="5" />
    </link:definitionLink>
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/ScheduleOfRollForwardOfNotesOutstandingDetails" xlink:title="999074 - Disclosure - Schedule of Roll Forward of Notes Outstanding (Details)" />
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/ScheduleOfRollForwardOfDeferredFinancingCostsDetails" xlink:title="999075 - Disclosure - Schedule of Roll Forward of Deferred Financing Costs (Details)" />
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/ScheduleOfRollForwardOfAccumulatedAmortizationOfDeferredFinancingCostsDetails" xlink:title="999076 - Disclosure - Schedule of Roll Forward of Accumulated Amortization of Deferred Financing Costs (Details)" />
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/ScheduleOfOtherUnsecuredLoansDetails" xlink:title="999077 - Disclosure - Schedule of Other Unsecured Loans (Details)">
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ShortTermDebtLineItems" xlink:label="loc_us-gaapShortTermDebtLineItems" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ScheduleOfShortTermDebtTable" xlink:label="loc_us-gaapScheduleOfShortTermDebtTable" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xbrldt:contextElement="segment" xlink:from="loc_us-gaapShortTermDebtLineItems" xlink:to="loc_us-gaapScheduleOfShortTermDebtTable" xlink:type="arc" order="10" xbrldt:closed="true" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DebtInstrumentAxis" xlink:label="loc_us-gaapDebtInstrumentAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapScheduleOfShortTermDebtTable" xlink:to="loc_us-gaapDebtInstrumentAxis" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DebtInstrumentNameDomain" xlink:label="loc_us-gaapDebtInstrumentNameDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaapDebtInstrumentAxis" xlink:to="loc_us-gaapDebtInstrumentNameDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DebtInstrumentNameDomain" xlink:label="loc_us-gaapDebtInstrumentNameDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_us-gaapDebtInstrumentAxis" xlink:to="loc_us-gaapDebtInstrumentNameDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_UnsecuredLineofCreditMember" xlink:label="loc_SHEPHUnsecuredLineofCreditMember_0" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtInstrumentNameDomain" xlink:to="loc_SHEPHUnsecuredLineofCreditMember_0" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_UnsecuredLineofCreditOneMember" xlink:label="loc_SHEPHUnsecuredLineofCreditOneMember_30" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtInstrumentNameDomain" xlink:to="loc_SHEPHUnsecuredLineofCreditOneMember_30" xlink:type="arc" order="31" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_SeniorSubordinatedUnsecuredLineofCreditMember" xlink:label="loc_SHEPHSeniorSubordinatedUnsecuredLineofCreditMember_60" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtInstrumentNameDomain" xlink:to="loc_SHEPHSeniorSubordinatedUnsecuredLineofCreditMember_60" xlink:type="arc" order="61" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_SubordinatedPromissoryNoteMember" xlink:label="loc_SHEPHSubordinatedPromissoryNoteMember_90" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtInstrumentNameDomain" xlink:to="loc_SHEPHSubordinatedPromissoryNoteMember_90" xlink:type="arc" order="91" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_SubordinatedPromissoryNoteOneMember" xlink:label="loc_SHEPHSubordinatedPromissoryNoteOneMember_120" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtInstrumentNameDomain" xlink:to="loc_SHEPHSubordinatedPromissoryNoteOneMember_120" xlink:type="arc" order="121" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_SubordinatedPromissoryNoteTwoMember" xlink:label="loc_SHEPHSubordinatedPromissoryNoteTwoMember_150" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtInstrumentNameDomain" xlink:to="loc_SHEPHSubordinatedPromissoryNoteTwoMember_150" xlink:type="arc" order="151" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_SubordinatedPromissoryNoteThreeMember" xlink:label="loc_SHEPHSubordinatedPromissoryNoteThreeMember_180" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtInstrumentNameDomain" xlink:to="loc_SHEPHSubordinatedPromissoryNoteThreeMember_180" xlink:type="arc" order="181" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_SubordinatedPromissoryNoteFourMember" xlink:label="loc_SHEPHSubordinatedPromissoryNoteFourMember_210" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtInstrumentNameDomain" xlink:to="loc_SHEPHSubordinatedPromissoryNoteFourMember_210" xlink:type="arc" order="211" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_SubordinatedPromissoryNoteFiveMember" xlink:label="loc_SHEPHSubordinatedPromissoryNoteFiveMember_240" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtInstrumentNameDomain" xlink:to="loc_SHEPHSubordinatedPromissoryNoteFiveMember_240" xlink:type="arc" order="241" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_SubordinatedPromissoryNoteSixMember" xlink:label="loc_SHEPHSubordinatedPromissoryNoteSixMember_270" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtInstrumentNameDomain" xlink:to="loc_SHEPHSubordinatedPromissoryNoteSixMember_270" xlink:type="arc" order="271" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_SubordinatedPromissoryNoteSevenMember" xlink:label="loc_SHEPHSubordinatedPromissoryNoteSevenMember_300" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtInstrumentNameDomain" xlink:to="loc_SHEPHSubordinatedPromissoryNoteSevenMember_300" xlink:type="arc" order="301" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_SubordinatedPromissoryNoteEightMember" xlink:label="loc_SHEPHSubordinatedPromissoryNoteEightMember_330" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtInstrumentNameDomain" xlink:to="loc_SHEPHSubordinatedPromissoryNoteEightMember_330" xlink:type="arc" order="331" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_SubordinatedPromissoryNoteNineMember" xlink:label="loc_SHEPHSubordinatedPromissoryNoteNineMember_360" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtInstrumentNameDomain" xlink:to="loc_SHEPHSubordinatedPromissoryNoteNineMember_360" xlink:type="arc" order="361" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_SubordinatedPromissoryNoteTenMember" xlink:label="loc_SHEPHSubordinatedPromissoryNoteTenMember_390" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtInstrumentNameDomain" xlink:to="loc_SHEPHSubordinatedPromissoryNoteTenMember_390" xlink:type="arc" order="391" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_SubordinatedPromissoryNoteElevenMember" xlink:label="loc_SHEPHSubordinatedPromissoryNoteElevenMember_420" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtInstrumentNameDomain" xlink:to="loc_SHEPHSubordinatedPromissoryNoteElevenMember_420" xlink:type="arc" order="421" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_SubordinatedPromissoryNoteTwelveMember" xlink:label="loc_SHEPHSubordinatedPromissoryNoteTwelveMember_450" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtInstrumentNameDomain" xlink:to="loc_SHEPHSubordinatedPromissoryNoteTwelveMember_450" xlink:type="arc" order="451" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_SubordinatedPromissoryNoteThirteenMember" xlink:label="loc_SHEPHSubordinatedPromissoryNoteThirteenMember_480" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtInstrumentNameDomain" xlink:to="loc_SHEPHSubordinatedPromissoryNoteThirteenMember_480" xlink:type="arc" order="481" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_SubordinatedPromissoryNoteFourteenMember" xlink:label="loc_SHEPHSubordinatedPromissoryNoteFourteenMember_510" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtInstrumentNameDomain" xlink:to="loc_SHEPHSubordinatedPromissoryNoteFourteenMember_510" xlink:type="arc" order="511" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_SeniorSubordinatedPromissoryNoteMember" xlink:label="loc_SHEPHSeniorSubordinatedPromissoryNoteMember_540" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtInstrumentNameDomain" xlink:to="loc_SHEPHSeniorSubordinatedPromissoryNoteMember_540" xlink:type="arc" order="541" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_JuniorSubordinatedPromissoryNoteMember" xlink:label="loc_SHEPHJuniorSubordinatedPromissoryNoteMember_570" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtInstrumentNameDomain" xlink:to="loc_SHEPHJuniorSubordinatedPromissoryNoteMember_570" xlink:type="arc" order="571" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_SeniorSubordinatedPromissoryNoteOneMember" xlink:label="loc_SHEPHSeniorSubordinatedPromissoryNoteOneMember_600" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtInstrumentNameDomain" xlink:to="loc_SHEPHSeniorSubordinatedPromissoryNoteOneMember_600" xlink:type="arc" order="601" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_JuniorSubordinatedPromissoryNoteOneMember" xlink:label="loc_SHEPHJuniorSubordinatedPromissoryNoteOneMember_630" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtInstrumentNameDomain" xlink:to="loc_SHEPHJuniorSubordinatedPromissoryNoteOneMember_630" xlink:type="arc" order="631" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_SubordinatedPromissoryNoteFifteenMember" xlink:label="loc_SHEPHSubordinatedPromissoryNoteFifteenMember_660" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtInstrumentNameDomain" xlink:to="loc_SHEPHSubordinatedPromissoryNoteFifteenMember_660" xlink:type="arc" order="661" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_SubordinatedPromissoryNoteSixteenMember" xlink:label="loc_SHEPHSubordinatedPromissoryNoteSixteenMember_690" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtInstrumentNameDomain" xlink:to="loc_SHEPHSubordinatedPromissoryNoteSixteenMember_690" xlink:type="arc" order="691" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_SubordinatedPromissoryNoteSeventeenMember" xlink:label="loc_SHEPHSubordinatedPromissoryNoteSeventeenMember_720" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtInstrumentNameDomain" xlink:to="loc_SHEPHSubordinatedPromissoryNoteSeventeenMember_720" xlink:type="arc" order="721" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_SubordinatedPromissoryNoteEighteenMember" xlink:label="loc_SHEPHSubordinatedPromissoryNoteEighteenMember_750" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtInstrumentNameDomain" xlink:to="loc_SHEPHSubordinatedPromissoryNoteEighteenMember_750" xlink:type="arc" order="751" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_SubordinatedPromissoryNoteNineteenMember" xlink:label="loc_SHEPHSubordinatedPromissoryNoteNineteenMember_780" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtInstrumentNameDomain" xlink:to="loc_SHEPHSubordinatedPromissoryNoteNineteenMember_780" xlink:type="arc" order="781" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_SubordinatedPromissoryNoteTwentyMember" xlink:label="loc_SHEPHSubordinatedPromissoryNoteTwentyMember_810" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtInstrumentNameDomain" xlink:to="loc_SHEPHSubordinatedPromissoryNoteTwentyMember_810" xlink:type="arc" order="811" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_SubordinatedPromissoryNoteTwentyOneMember" xlink:label="loc_SHEPHSubordinatedPromissoryNoteTwentyOneMember_840" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtInstrumentNameDomain" xlink:to="loc_SHEPHSubordinatedPromissoryNoteTwentyOneMember_840" xlink:type="arc" order="841" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_SubordinatedPromissoryNoteTwentyTwoMember" xlink:label="loc_SHEPHSubordinatedPromissoryNoteTwentyTwoMember_870" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtInstrumentNameDomain" xlink:to="loc_SHEPHSubordinatedPromissoryNoteTwentyTwoMember_870" xlink:type="arc" order="871" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_SubordinatedPromissoryNoteTwentyThreeMember" xlink:label="loc_SHEPHSubordinatedPromissoryNoteTwentyThreeMember_900" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtInstrumentNameDomain" xlink:to="loc_SHEPHSubordinatedPromissoryNoteTwentyThreeMember_900" xlink:type="arc" order="901" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_SubordinatedPromissoryNoteTwentyFourMember" xlink:label="loc_SHEPHSubordinatedPromissoryNoteTwentyFourMember_930" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtInstrumentNameDomain" xlink:to="loc_SHEPHSubordinatedPromissoryNoteTwentyFourMember_930" xlink:type="arc" order="931" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_SubordinatedPromissoryNoteTwentyFiveMember" xlink:label="loc_SHEPHSubordinatedPromissoryNoteTwentyFiveMember_960" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtInstrumentNameDomain" xlink:to="loc_SHEPHSubordinatedPromissoryNoteTwentyFiveMember_960" xlink:type="arc" order="961" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_SubordinatedPromissoryNoteTwentySixMember" xlink:label="loc_SHEPHSubordinatedPromissoryNoteTwentySixMember_990" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtInstrumentNameDomain" xlink:to="loc_SHEPHSubordinatedPromissoryNoteTwentySixMember_990" xlink:type="arc" order="991" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_SubordinatedPromissoryNoteTwentySevenMember" xlink:label="loc_SHEPHSubordinatedPromissoryNoteTwentySevenMember_1020" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtInstrumentNameDomain" xlink:to="loc_SHEPHSubordinatedPromissoryNoteTwentySevenMember_1020" xlink:type="arc" order="1021" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_SubordinatedPromissoryNoteTwentyEightMember" xlink:label="loc_SHEPHSubordinatedPromissoryNoteTwentyEightMember_1050" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtInstrumentNameDomain" xlink:to="loc_SHEPHSubordinatedPromissoryNoteTwentyEightMember_1050" xlink:type="arc" order="1051" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_SubordinatedPromissoryNoteTwentyNineMember" xlink:label="loc_SHEPHSubordinatedPromissoryNoteTwentyNineMember_1080" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtInstrumentNameDomain" xlink:to="loc_SHEPHSubordinatedPromissoryNoteTwentyNineMember_1080" xlink:type="arc" order="1081" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_OtherUnsecuredLoans" xlink:label="loc_SHEPHOtherUnsecuredLoans_1140" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapShortTermDebtLineItems" xlink:to="loc_SHEPHOtherUnsecuredLoans_1140" xlink:type="arc" order="0" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DebtInstrumentMaturityDateDescription" xlink:label="loc_us-gaapDebtInstrumentMaturityDateDescription_1140" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapShortTermDebtLineItems" xlink:to="loc_us-gaapDebtInstrumentMaturityDateDescription_1140" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DebtInstrumentInterestRateDuringPeriod" xlink:label="loc_us-gaapDebtInstrumentInterestRateDuringPeriod_1140" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapShortTermDebtLineItems" xlink:to="loc_us-gaapDebtInstrumentInterestRateDuringPeriod_1140" xlink:type="arc" order="2" />
    </link:definitionLink>
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/ScheduleOfOtherUnsecuredLoansDetailsParenthetical" xlink:title="999078 - Disclosure - Schedule of Other Unsecured Loans (Details) (Parenthetical)">
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ShortTermDebtLineItems" xlink:label="loc_us-gaapShortTermDebtLineItems" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ScheduleOfShortTermDebtTable" xlink:label="loc_us-gaapScheduleOfShortTermDebtTable" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xbrldt:contextElement="segment" xlink:from="loc_us-gaapShortTermDebtLineItems" xlink:to="loc_us-gaapScheduleOfShortTermDebtTable" xlink:type="arc" order="10" xbrldt:closed="true" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DebtInstrumentAxis" xlink:label="loc_us-gaapDebtInstrumentAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapScheduleOfShortTermDebtTable" xlink:to="loc_us-gaapDebtInstrumentAxis" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DebtInstrumentNameDomain" xlink:label="loc_us-gaapDebtInstrumentNameDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaapDebtInstrumentAxis" xlink:to="loc_us-gaapDebtInstrumentNameDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DebtInstrumentNameDomain" xlink:label="loc_us-gaapDebtInstrumentNameDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_us-gaapDebtInstrumentAxis" xlink:to="loc_us-gaapDebtInstrumentNameDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_SeniorSubordinatedPromissoryNoteMember" xlink:label="loc_SHEPHSeniorSubordinatedPromissoryNoteMember_0" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtInstrumentNameDomain" xlink:to="loc_SHEPHSeniorSubordinatedPromissoryNoteMember_0" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_DebtYieldReturnPercentage" xlink:label="loc_SHEPHDebtYieldReturnPercentage_20" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapShortTermDebtLineItems" xlink:to="loc_SHEPHDebtYieldReturnPercentage_20" xlink:type="arc" order="0" />
    </link:definitionLink>
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/BorrowingsDetailsNarrative" xlink:title="999079 - Disclosure - Borrowings (Details Narrative)">
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DebtInstrumentLineItems" xlink:label="loc_us-gaapDebtInstrumentLineItems" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DebtInstrumentTable" xlink:label="loc_us-gaapDebtInstrumentTable" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xbrldt:contextElement="segment" xlink:from="loc_us-gaapDebtInstrumentLineItems" xlink:to="loc_us-gaapDebtInstrumentTable" xlink:type="arc" order="10" xbrldt:closed="true" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_TypeOfArrangementAxis" xlink:label="loc_us-gaapTypeOfArrangementAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapDebtInstrumentTable" xlink:to="loc_us-gaapTypeOfArrangementAxis" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ArrangementsAndNonarrangementTransactionsMember" xlink:label="loc_us-gaapArrangementsAndNonarrangementTransactionsMember" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaapTypeOfArrangementAxis" xlink:to="loc_us-gaapArrangementsAndNonarrangementTransactionsMember" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ArrangementsAndNonarrangementTransactionsMember" xlink:label="loc_us-gaapArrangementsAndNonarrangementTransactionsMember_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_us-gaapTypeOfArrangementAxis" xlink:to="loc_us-gaapArrangementsAndNonarrangementTransactionsMember_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_LoanPurchaseAndSaleAgreementMember" xlink:label="loc_SHEPHLoanPurchaseAndSaleAgreementMember_0" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapArrangementsAndNonarrangementTransactionsMember" xlink:to="loc_SHEPHLoanPurchaseAndSaleAgreementMember_0" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_ShumanLineOfCreditAgreementMember" xlink:label="loc_SHEPHShumanLineOfCreditAgreementMember_130" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapArrangementsAndNonarrangementTransactionsMember" xlink:to="loc_SHEPHShumanLineOfCreditAgreementMember_130" xlink:type="arc" order="132" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_SwansonModificationAgreementMember" xlink:label="loc_SHEPHSwansonModificationAgreementMember_190" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapArrangementsAndNonarrangementTransactionsMember" xlink:to="loc_SHEPHSwansonModificationAgreementMember_190" xlink:type="arc" order="192" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_RangeAxis" xlink:label="loc_srtRangeAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapDebtInstrumentTable" xlink:to="loc_srtRangeAxis" xlink:type="arc" order="2" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_RangeMember" xlink:label="loc_srtRangeMember" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_srtRangeAxis" xlink:to="loc_srtRangeMember" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_RangeMember" xlink:label="loc_srtRangeMember_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_srtRangeAxis" xlink:to="loc_srtRangeMember_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_MinimumMember" xlink:label="loc_srtMinimumMember_0" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srtRangeMember" xlink:to="loc_srtMinimumMember_0" xlink:type="arc" order="2" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_MaximumMember" xlink:label="loc_srtMaximumMember_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srtRangeMember" xlink:to="loc_srtMaximumMember_10" xlink:type="arc" order="12" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_LegalEntityAxis" xlink:label="loc_deiLegalEntityAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapDebtInstrumentTable" xlink:to="loc_deiLegalEntityAxis" xlink:type="arc" order="3" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityDomain" xlink:label="loc_deiEntityDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_deiLegalEntityAxis" xlink:to="loc_deiEntityDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityDomain" xlink:label="loc_deiEntityDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_deiLegalEntityAxis" xlink:to="loc_deiEntityDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_SKFundingLLCMember" xlink:label="loc_SHEPHSKFundingLLCMember_0" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiEntityDomain" xlink:to="loc_SHEPHSKFundingLLCMember_0" xlink:type="arc" order="3" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_SKFundingLineMember" xlink:label="loc_SHEPHSKFundingLineMember_70" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiEntityDomain" xlink:to="loc_SHEPHSKFundingLineMember_70" xlink:type="arc" order="72" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DebtInstrumentAxis" xlink:label="loc_us-gaapDebtInstrumentAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapDebtInstrumentTable" xlink:to="loc_us-gaapDebtInstrumentAxis" xlink:type="arc" order="4" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DebtInstrumentNameDomain" xlink:label="loc_us-gaapDebtInstrumentNameDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaapDebtInstrumentAxis" xlink:to="loc_us-gaapDebtInstrumentNameDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DebtInstrumentNameDomain" xlink:label="loc_us-gaapDebtInstrumentNameDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_us-gaapDebtInstrumentAxis" xlink:to="loc_us-gaapDebtInstrumentNameDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_SecuredBorrowingsMember" xlink:label="loc_SHEPHSecuredBorrowingsMember_90" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtInstrumentNameDomain" xlink:to="loc_SHEPHSecuredBorrowingsMember_90" xlink:type="arc" order="91" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_NotesProgramMember" xlink:label="loc_SHEPHNotesProgramMember_460" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtInstrumentNameDomain" xlink:to="loc_SHEPHNotesProgramMember_460" xlink:type="arc" order="461" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_TitleOfIndividualAxis" xlink:label="loc_srtTitleOfIndividualAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapDebtInstrumentTable" xlink:to="loc_srtTitleOfIndividualAxis" xlink:type="arc" order="5" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_TitleOfIndividualWithRelationshipToEntityDomain" xlink:label="loc_srtTitleOfIndividualWithRelationshipToEntityDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_srtTitleOfIndividualAxis" xlink:to="loc_srtTitleOfIndividualWithRelationshipToEntityDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_TitleOfIndividualWithRelationshipToEntityDomain" xlink:label="loc_srtTitleOfIndividualWithRelationshipToEntityDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_srtTitleOfIndividualAxis" xlink:to="loc_srtTitleOfIndividualWithRelationshipToEntityDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_DanielMWallachMember" xlink:label="loc_SHEPHDanielMWallachMember_110" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srtTitleOfIndividualWithRelationshipToEntityDomain" xlink:to="loc_SHEPHDanielMWallachMember_110" xlink:type="arc" order="111" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:label="loc_us-gaapRelatedPartyTransactionsByRelatedPartyAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapDebtInstrumentTable" xlink:to="loc_us-gaapRelatedPartyTransactionsByRelatedPartyAxis" xlink:type="arc" order="6" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RelatedPartyDomain" xlink:label="loc_us-gaapRelatedPartyDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaapRelatedPartyTransactionsByRelatedPartyAxis" xlink:to="loc_us-gaapRelatedPartyDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RelatedPartyDomain" xlink:label="loc_us-gaapRelatedPartyDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_us-gaapRelatedPartyTransactionsByRelatedPartyAxis" xlink:to="loc_us-gaapRelatedPartyDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_ShumanMember" xlink:label="loc_SHEPHShumanMember_130" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapRelatedPartyDomain" xlink:to="loc_SHEPHShumanMember_130" xlink:type="arc" order="131" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_JudithSwansonMember" xlink:label="loc_SHEPHJudithSwansonMember_190" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapRelatedPartyDomain" xlink:to="loc_SHEPHJudithSwansonMember_190" xlink:type="arc" order="191" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_NewLineOfCreditAgreementsMember" xlink:label="loc_SHEPHNewLineOfCreditAgreementsMember_320" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapRelatedPartyDomain" xlink:to="loc_SHEPHNewLineOfCreditAgreementsMember_320" xlink:type="arc" order="321" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_HannaHoldingsIncMember" xlink:label="loc_SHEPHHannaHoldingsIncMember_380" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapRelatedPartyDomain" xlink:to="loc_SHEPHHannaHoldingsIncMember_380" xlink:type="arc" order="381" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AwardDateAxis" xlink:label="loc_us-gaapAwardDateAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapDebtInstrumentTable" xlink:to="loc_us-gaapAwardDateAxis" xlink:type="arc" order="7" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AwardDateDomain" xlink:label="loc_us-gaapAwardDateDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaapAwardDateAxis" xlink:to="loc_us-gaapAwardDateDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AwardDateDomain" xlink:label="loc_us-gaapAwardDateDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_us-gaapAwardDateAxis" xlink:to="loc_us-gaapAwardDateDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_January2027Member" xlink:label="loc_SHEPHJanuary2027Member_250" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapAwardDateDomain" xlink:to="loc_SHEPHJanuary2027Member_250" xlink:type="arc" order="251" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_January2040Member" xlink:label="loc_SHEPHJanuary2040Member_280" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapAwardDateDomain" xlink:to="loc_SHEPHJanuary2040Member_280" xlink:type="arc" order="281" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_CreditFacilityAxis" xlink:label="loc_us-gaapCreditFacilityAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapDebtInstrumentTable" xlink:to="loc_us-gaapCreditFacilityAxis" xlink:type="arc" order="8" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_CreditFacilityDomain" xlink:label="loc_us-gaapCreditFacilityDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaapCreditFacilityAxis" xlink:to="loc_us-gaapCreditFacilityDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_CreditFacilityDomain" xlink:label="loc_us-gaapCreditFacilityDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_us-gaapCreditFacilityAxis" xlink:to="loc_us-gaapCreditFacilityDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RevolvingCreditFacilityMember" xlink:label="loc_us-gaapRevolvingCreditFacilityMember_250" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapCreditFacilityDomain" xlink:to="loc_us-gaapRevolvingCreditFacilityMember_250" xlink:type="arc" order="252" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_PercentageOnLoansSoldToPruchaser" xlink:label="loc_SHEPHPercentageOnLoansSoldToPruchaser_490" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtInstrumentLineItems" xlink:to="loc_SHEPHPercentageOnLoansSoldToPruchaser_490" xlink:type="arc" order="0" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:label="loc_us-gaapDebtInstrumentInterestRateStatedPercentage_490" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtInstrumentLineItems" xlink:to="loc_us-gaapDebtInstrumentInterestRateStatedPercentage_490" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DebtInstrumentFaceAmount" xlink:label="loc_us-gaapDebtInstrumentFaceAmount_490" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtInstrumentLineItems" xlink:to="loc_us-gaapDebtInstrumentFaceAmount_490" xlink:type="arc" order="2" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_InterestExpenseOperating" xlink:label="loc_us-gaapInterestExpenseOperating_490" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtInstrumentLineItems" xlink:to="loc_us-gaapInterestExpenseOperating_490" xlink:type="arc" order="3" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LongTermDebt" xlink:label="loc_us-gaapLongTermDebt_490" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtInstrumentLineItems" xlink:to="loc_us-gaapLongTermDebt_490" xlink:type="arc" order="4" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_UnsecuredDebt" xlink:label="loc_us-gaapUnsecuredDebt_490" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtInstrumentLineItems" xlink:to="loc_us-gaapUnsecuredDebt_490" xlink:type="arc" order="5" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LineOfCredit" xlink:label="loc_us-gaapLineOfCredit_490" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtInstrumentLineItems" xlink:to="loc_us-gaapLineOfCredit_490" xlink:type="arc" order="6" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:label="loc_us-gaapLineOfCreditFacilityMaximumBorrowingCapacity_490" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtInstrumentLineItems" xlink:to="loc_us-gaapLineOfCreditFacilityMaximumBorrowingCapacity_490" xlink:type="arc" order="7" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RepaymentsOfLinesOfCredit" xlink:label="loc_us-gaapRepaymentsOfLinesOfCredit_490" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtInstrumentLineItems" xlink:to="loc_us-gaapRepaymentsOfLinesOfCredit_490" xlink:type="arc" order="8" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ProceedsFromLinesOfCredit" xlink:label="loc_us-gaapProceedsFromLinesOfCredit_490" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtInstrumentLineItems" xlink:to="loc_us-gaapProceedsFromLinesOfCredit_490" xlink:type="arc" order="9" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LineOfCreditFacilityCommitmentFeePercentage" xlink:label="loc_us-gaapLineOfCreditFacilityCommitmentFeePercentage_490" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtInstrumentLineItems" xlink:to="loc_us-gaapLineOfCreditFacilityCommitmentFeePercentage_490" xlink:type="arc" order="10" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LineOfCreditFacilityDescription" xlink:label="loc_us-gaapLineOfCreditFacilityDescription_490" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtInstrumentLineItems" xlink:to="loc_us-gaapLineOfCreditFacilityDescription_490" xlink:type="arc" order="11" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_InterestExpenseDebt" xlink:label="loc_us-gaapInterestExpenseDebt_490" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtInstrumentLineItems" xlink:to="loc_us-gaapInterestExpenseDebt_490" xlink:type="arc" order="12" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_SecuredDebt" xlink:label="loc_us-gaapSecuredDebt_490" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtInstrumentLineItems" xlink:to="loc_us-gaapSecuredDebt_490" xlink:type="arc" order="13" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DebtInstrumentPaymentTerms" xlink:label="loc_us-gaapDebtInstrumentPaymentTerms_490" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtInstrumentLineItems" xlink:to="loc_us-gaapDebtInstrumentPaymentTerms_490" xlink:type="arc" order="14" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DebtInstrumentDescription" xlink:label="loc_us-gaapDebtInstrumentDescription_490" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtInstrumentLineItems" xlink:to="loc_us-gaapDebtInstrumentDescription_490" xlink:type="arc" order="15" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LoansPayable" xlink:label="loc_us-gaapLoansPayable_490" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtInstrumentLineItems" xlink:to="loc_us-gaapLoansPayable_490" xlink:type="arc" order="16" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DebtInstrumentCollateralFee" xlink:label="loc_us-gaapDebtInstrumentCollateralFee_490" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtInstrumentLineItems" xlink:to="loc_us-gaapDebtInstrumentCollateralFee_490" xlink:type="arc" order="17" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_SecuredDebtCurrent" xlink:label="loc_us-gaapSecuredDebtCurrent_490" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtInstrumentLineItems" xlink:to="loc_us-gaapSecuredDebtCurrent_490" xlink:type="arc" order="18" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DebtInstrumentInterestRateEffectivePercentage" xlink:label="loc_us-gaapDebtInstrumentInterestRateEffectivePercentage_490" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtInstrumentLineItems" xlink:to="loc_us-gaapDebtInstrumentInterestRateEffectivePercentage_490" xlink:type="arc" order="19" />
    </link:definitionLink>
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/ScheduleOfRefundablePrepaidInterestDetails" xlink:title="999080 - Disclosure - Schedule of Refundable Prepaid Interest (Details)" />
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/ScheduleOfRollForwardOfSeriesCPreferredEquityDetails" xlink:title="999081 - Disclosure - Schedule of Roll Forward of Series C Preferred Equity (Details)">
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossLineItems" xlink:label="loc_us-gaapAccumulatedOtherComprehensiveIncomeLossLineItems" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossTable" xlink:label="loc_us-gaapAccumulatedOtherComprehensiveIncomeLossTable" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xbrldt:contextElement="segment" xlink:from="loc_us-gaapAccumulatedOtherComprehensiveIncomeLossLineItems" xlink:to="loc_us-gaapAccumulatedOtherComprehensiveIncomeLossTable" xlink:type="arc" order="10" xbrldt:closed="true" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_StatementEquityComponentsAxis" xlink:label="loc_us-gaapStatementEquityComponentsAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapAccumulatedOtherComprehensiveIncomeLossTable" xlink:to="loc_us-gaapStatementEquityComponentsAxis" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_EquityComponentDomain" xlink:label="loc_us-gaapEquityComponentDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaapStatementEquityComponentsAxis" xlink:to="loc_us-gaapEquityComponentDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_EquityComponentDomain" xlink:label="loc_us-gaapEquityComponentDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_us-gaapStatementEquityComponentsAxis" xlink:to="loc_us-gaapEquityComponentDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_SeriesCPreferredUnitsMember" xlink:label="loc_SHEPHSeriesCPreferredUnitsMember_0" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapEquityComponentDomain" xlink:to="loc_SHEPHSeriesCPreferredUnitsMember_0" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_RedeemableAndTemporaryPreferredStockValue" xlink:label="loc_SHEPHRedeemableAndTemporaryPreferredStockValue_60" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapAccumulatedOtherComprehensiveIncomeLossLineItems" xlink:to="loc_SHEPHRedeemableAndTemporaryPreferredStockValue_60" xlink:type="arc" order="0" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PartnersCapitalAccountContributions" xlink:label="loc_us-gaapPartnersCapitalAccountContributions_60" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapAccumulatedOtherComprehensiveIncomeLossLineItems" xlink:to="loc_us-gaapPartnersCapitalAccountContributions_60" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PartnersCapitalAccountDistributions" xlink:label="loc_us-gaapPartnersCapitalAccountDistributions_60" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapAccumulatedOtherComprehensiveIncomeLossLineItems" xlink:to="loc_us-gaapPartnersCapitalAccountDistributions_60" xlink:type="arc" order="2" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_NetIncomeAttributableToSeriesCEquity" xlink:label="loc_SHEPHNetIncomeAttributableToSeriesCEquity_60" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapAccumulatedOtherComprehensiveIncomeLossLineItems" xlink:to="loc_SHEPHNetIncomeAttributableToSeriesCEquity_60" xlink:type="arc" order="3" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PartnersCapitalAccountExchangesAndConversions" xlink:label="loc_us-gaapPartnersCapitalAccountExchangesAndConversions_60" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapAccumulatedOtherComprehensiveIncomeLossLineItems" xlink:to="loc_us-gaapPartnersCapitalAccountExchangesAndConversions_60" xlink:type="arc" order="4" />
    </link:definitionLink>
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/ScheduleOfConversionOptionsForInvestorsInSeriesCPreferredEquityDetails" xlink:title="999082 - Disclosure - Schedule of Conversion Options for Investors in Series C Preferred Equity (Details)">
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:label="loc_us-gaapShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:label="loc_us-gaapScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xbrldt:contextElement="segment" xlink:from="loc_us-gaapShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:to="loc_us-gaapScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:type="arc" order="10" xbrldt:closed="true" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AwardDateAxis" xlink:label="loc_us-gaapAwardDateAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:to="loc_us-gaapAwardDateAxis" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AwardDateDomain" xlink:label="loc_us-gaapAwardDateDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaapAwardDateAxis" xlink:to="loc_us-gaapAwardDateDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AwardDateDomain" xlink:label="loc_us-gaapAwardDateDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_us-gaapAwardDateAxis" xlink:to="loc_us-gaapAwardDateDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_CurrentlyConvertibleMember" xlink:label="loc_SHEPHCurrentlyConvertibleMember_0" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapAwardDateDomain" xlink:to="loc_SHEPHCurrentlyConvertibleMember_0" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_RedemptionOptionsMaturityYearTwoThousandTwentySixMember" xlink:label="loc_SHEPHRedemptionOptionsMaturityYearTwoThousandTwentySixMember_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapAwardDateDomain" xlink:to="loc_SHEPHRedemptionOptionsMaturityYearTwoThousandTwentySixMember_10" xlink:type="arc" order="11" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_RedemptionOptionsMaturityYearTwoThousandTwentySevenMember" xlink:label="loc_SHEPHRedemptionOptionsMaturityYearTwoThousandTwentySevenMember_20" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapAwardDateDomain" xlink:to="loc_SHEPHRedemptionOptionsMaturityYearTwoThousandTwentySevenMember_20" xlink:type="arc" order="21" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_RedemptionOptionsMaturityYearTwoThousandTwentyEightMember" xlink:label="loc_SHEPHRedemptionOptionsMaturityYearTwoThousandTwentyEightMember_30" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapAwardDateDomain" xlink:to="loc_SHEPHRedemptionOptionsMaturityYearTwoThousandTwentyEightMember_30" xlink:type="arc" order="31" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_RedemptionOptionsMaturityYearTwoThousandTwentyNineMember" xlink:label="loc_SHEPHRedemptionOptionsMaturityYearTwoThousandTwentyNineMember_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapAwardDateDomain" xlink:to="loc_SHEPHRedemptionOptionsMaturityYearTwoThousandTwentyNineMember_40" xlink:type="arc" order="41" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_RedemptionOptionsMaturityYearTwoThousandThirtyAndThereafterMember" xlink:label="loc_SHEPHRedemptionOptionsMaturityYearTwoThousandThirtyAndThereafterMember_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapAwardDateDomain" xlink:to="loc_SHEPHRedemptionOptionsMaturityYearTwoThousandThirtyAndThereafterMember_50" xlink:type="arc" order="51" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LimitedLiabilityCompanyLLCPreferredUnitIssuanceValue" xlink:label="loc_us-gaapLimitedLiabilityCompanyLLCPreferredUnitIssuanceValue_80" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:to="loc_us-gaapLimitedLiabilityCompanyLLCPreferredUnitIssuanceValue_80" xlink:type="arc" order="0" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_LimitedLiabilityCompanyLLCPreferredUnitIssuanceGrossValue" xlink:label="loc_SHEPHLimitedLiabilityCompanyLLCPreferredUnitIssuanceGrossValue_80" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:to="loc_SHEPHLimitedLiabilityCompanyLLCPreferredUnitIssuanceGrossValue_80" xlink:type="arc" order="1" />
    </link:definitionLink>
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/SeriesCPreferredEquityDetailsNarrative" xlink:title="999083 - Disclosure - Series C Preferred Equity (Details Narrative)">
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossLineItems" xlink:label="loc_us-gaapAccumulatedOtherComprehensiveIncomeLossLineItems" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossTable" xlink:label="loc_us-gaapAccumulatedOtherComprehensiveIncomeLossTable" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xbrldt:contextElement="segment" xlink:from="loc_us-gaapAccumulatedOtherComprehensiveIncomeLossLineItems" xlink:to="loc_us-gaapAccumulatedOtherComprehensiveIncomeLossTable" xlink:type="arc" order="10" xbrldt:closed="true" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_StatementEquityComponentsAxis" xlink:label="loc_us-gaapStatementEquityComponentsAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapAccumulatedOtherComprehensiveIncomeLossTable" xlink:to="loc_us-gaapStatementEquityComponentsAxis" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_EquityComponentDomain" xlink:label="loc_us-gaapEquityComponentDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaapStatementEquityComponentsAxis" xlink:to="loc_us-gaapEquityComponentDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_EquityComponentDomain" xlink:label="loc_us-gaapEquityComponentDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_us-gaapStatementEquityComponentsAxis" xlink:to="loc_us-gaapEquityComponentDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_SeriesCPreferredUnitsMember" xlink:label="loc_SHEPHSeriesCPreferredUnitsMember_30" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapEquityComponentDomain" xlink:to="loc_SHEPHSeriesCPreferredUnitsMember_30" xlink:type="arc" order="31" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_StatementClassOfStockAxis" xlink:label="loc_us-gaapStatementClassOfStockAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapAccumulatedOtherComprehensiveIncomeLossTable" xlink:to="loc_us-gaapStatementClassOfStockAxis" xlink:type="arc" order="2" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ClassOfStockDomain" xlink:label="loc_us-gaapClassOfStockDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaapStatementClassOfStockAxis" xlink:to="loc_us-gaapClassOfStockDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ClassOfStockDomain" xlink:label="loc_us-gaapClassOfStockDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_us-gaapStatementClassOfStockAxis" xlink:to="loc_us-gaapClassOfStockDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_CommonClassAMember" xlink:label="loc_us-gaapCommonClassAMember_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapClassOfStockDomain" xlink:to="loc_us-gaapCommonClassAMember_40" xlink:type="arc" order="41" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_SeriesCPreferredStockMember" xlink:label="loc_us-gaapSeriesCPreferredStockMember_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapClassOfStockDomain" xlink:to="loc_us-gaapSeriesCPreferredStockMember_50" xlink:type="arc" order="51" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_TitleOfIndividualAxis" xlink:label="loc_srtTitleOfIndividualAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapAccumulatedOtherComprehensiveIncomeLossTable" xlink:to="loc_srtTitleOfIndividualAxis" xlink:type="arc" order="3" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_TitleOfIndividualWithRelationshipToEntityDomain" xlink:label="loc_srtTitleOfIndividualWithRelationshipToEntityDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_srtTitleOfIndividualAxis" xlink:to="loc_srtTitleOfIndividualWithRelationshipToEntityDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_TitleOfIndividualWithRelationshipToEntityDomain" xlink:label="loc_srtTitleOfIndividualWithRelationshipToEntityDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_srtTitleOfIndividualAxis" xlink:to="loc_srtTitleOfIndividualWithRelationshipToEntityDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_ChiefExecutiveOfficerMember" xlink:label="loc_srtChiefExecutiveOfficerMember_70" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srtTitleOfIndividualWithRelationshipToEntityDomain" xlink:to="loc_srtChiefExecutiveOfficerMember_70" xlink:type="arc" order="72" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_StockholdersEquityNoteStockSplit" xlink:label="loc_us-gaapStockholdersEquityNoteStockSplit_90" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapAccumulatedOtherComprehensiveIncomeLossLineItems" xlink:to="loc_us-gaapStockholdersEquityNoteStockSplit_90" xlink:type="arc" order="0" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_FourthAmendmentDescription" xlink:label="loc_SHEPHFourthAmendmentDescription_90" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapAccumulatedOtherComprehensiveIncomeLossLineItems" xlink:to="loc_SHEPHFourthAmendmentDescription_90" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_TemporaryEquityCarryingAmountAttributableToParent" xlink:label="loc_us-gaapTemporaryEquityCarryingAmountAttributableToParent_90" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapAccumulatedOtherComprehensiveIncomeLossLineItems" xlink:to="loc_us-gaapTemporaryEquityCarryingAmountAttributableToParent_90" xlink:type="arc" order="2" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_EquityDividendDistributionDescription" xlink:label="loc_SHEPHEquityDividendDistributionDescription_90" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapAccumulatedOtherComprehensiveIncomeLossLineItems" xlink:to="loc_SHEPHEquityDividendDistributionDescription_90" xlink:type="arc" order="3" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_LimitedLiabilityCompanyLLCUndiscountedSeriesCPreferredEquity" xlink:label="loc_SHEPHLimitedLiabilityCompanyLLCUndiscountedSeriesCPreferredEquity_90" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapAccumulatedOtherComprehensiveIncomeLossLineItems" xlink:to="loc_SHEPHLimitedLiabilityCompanyLLCUndiscountedSeriesCPreferredEquity_90" xlink:type="arc" order="4" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_StockIssuedDuringPeriodSharesOther" xlink:label="loc_us-gaapStockIssuedDuringPeriodSharesOther_90" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapAccumulatedOtherComprehensiveIncomeLossLineItems" xlink:to="loc_us-gaapStockIssuedDuringPeriodSharesOther_90" xlink:type="arc" order="5" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_StockIssuedDuringPeriodValueOther" xlink:label="loc_us-gaapStockIssuedDuringPeriodValueOther_90" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapAccumulatedOtherComprehensiveIncomeLossLineItems" xlink:to="loc_us-gaapStockIssuedDuringPeriodValueOther_90" xlink:type="arc" order="6" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PreferredStockDiscountOnShares" xlink:label="loc_us-gaapPreferredStockDiscountOnShares_90" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapAccumulatedOtherComprehensiveIncomeLossLineItems" xlink:to="loc_us-gaapPreferredStockDiscountOnShares_90" xlink:type="arc" order="7" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_StockRedeemedOrCalledDuringPeriodShares" xlink:label="loc_us-gaapStockRedeemedOrCalledDuringPeriodShares_90" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapAccumulatedOtherComprehensiveIncomeLossLineItems" xlink:to="loc_us-gaapStockRedeemedOrCalledDuringPeriodShares_90" xlink:type="arc" order="8" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_StockRedeemedOrCalledDuringPeriodValue" xlink:label="loc_us-gaapStockRedeemedOrCalledDuringPeriodValue_90" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapAccumulatedOtherComprehensiveIncomeLossLineItems" xlink:to="loc_us-gaapStockRedeemedOrCalledDuringPeriodValue_90" xlink:type="arc" order="9" />
    </link:definitionLink>
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/MembersCapitalDetailsNarrative" xlink:title="999084 - Disclosure - Members&#8217; Capital (Details Narrative)">
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ClassOfStockLineItems" xlink:label="loc_us-gaapClassOfStockLineItems" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ScheduleOfStockByClassTable" xlink:label="loc_us-gaapScheduleOfStockByClassTable" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xbrldt:contextElement="segment" xlink:from="loc_us-gaapClassOfStockLineItems" xlink:to="loc_us-gaapScheduleOfStockByClassTable" xlink:type="arc" order="10" xbrldt:closed="true" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_StatementClassOfStockAxis" xlink:label="loc_us-gaapStatementClassOfStockAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapScheduleOfStockByClassTable" xlink:to="loc_us-gaapStatementClassOfStockAxis" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ClassOfStockDomain" xlink:label="loc_us-gaapClassOfStockDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaapStatementClassOfStockAxis" xlink:to="loc_us-gaapClassOfStockDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ClassOfStockDomain" xlink:label="loc_us-gaapClassOfStockDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_us-gaapStatementClassOfStockAxis" xlink:to="loc_us-gaapClassOfStockDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_ClassACommonUnitsMember" xlink:label="loc_SHEPHClassACommonUnitsMember_0" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapClassOfStockDomain" xlink:to="loc_SHEPHClassACommonUnitsMember_0" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_TitleOfIndividualAxis" xlink:label="loc_srtTitleOfIndividualAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapScheduleOfStockByClassTable" xlink:to="loc_srtTitleOfIndividualAxis" xlink:type="arc" order="2" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_TitleOfIndividualWithRelationshipToEntityDomain" xlink:label="loc_srtTitleOfIndividualWithRelationshipToEntityDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_srtTitleOfIndividualAxis" xlink:to="loc_srtTitleOfIndividualWithRelationshipToEntityDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_TitleOfIndividualWithRelationshipToEntityDomain" xlink:label="loc_srtTitleOfIndividualWithRelationshipToEntityDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_srtTitleOfIndividualAxis" xlink:to="loc_srtTitleOfIndividualWithRelationshipToEntityDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_MarkReynoldsMember" xlink:label="loc_SHEPHMarkReynoldsMember_20" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srtTitleOfIndividualWithRelationshipToEntityDomain" xlink:to="loc_SHEPHMarkReynoldsMember_20" xlink:type="arc" order="21" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_CatherineLeslieMember" xlink:label="loc_SHEPHCatherineLeslieMember_30" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srtTitleOfIndividualWithRelationshipToEntityDomain" xlink:to="loc_SHEPHCatherineLeslieMember_30" xlink:type="arc" order="31" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AwardTypeAxis" xlink:label="loc_us-gaapAwardTypeAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapScheduleOfStockByClassTable" xlink:to="loc_us-gaapAwardTypeAxis" xlink:type="arc" order="3" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:label="loc_us-gaapShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaapAwardTypeAxis" xlink:to="loc_us-gaapShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:label="loc_us-gaapShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_us-gaapAwardTypeAxis" xlink:to="loc_us-gaapShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RestrictedStockMember" xlink:label="loc_us-gaapRestrictedStockMember_20" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:to="loc_us-gaapRestrictedStockMember_20" xlink:type="arc" order="22" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_CommonUnitOutstanding" xlink:label="loc_us-gaapCommonUnitOutstanding_90" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapClassOfStockLineItems" xlink:to="loc_us-gaapCommonUnitOutstanding_90" xlink:type="arc" order="0" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_CommonUnitIssued" xlink:label="loc_us-gaapCommonUnitIssued_90" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapClassOfStockLineItems" xlink:to="loc_us-gaapCommonUnitIssued_90" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_CommonUnitsVested" xlink:label="loc_SHEPHCommonUnitsVested_90" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapClassOfStockLineItems" xlink:to="loc_SHEPHCommonUnitsVested_90" xlink:type="arc" order="2" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AllocatedShareBasedCompensationExpense" xlink:label="loc_us-gaapAllocatedShareBasedCompensationExpense_90" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapClassOfStockLineItems" xlink:to="loc_us-gaapAllocatedShareBasedCompensationExpense_90" xlink:type="arc" order="3" />
    </link:definitionLink>
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/ScheduleOfRelatedPartyTransactionsDetails" xlink:title="999085 - Disclosure - Schedule of Related Party Transactions (Details)">
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RelatedPartyTransactionLineItems" xlink:label="loc_us-gaapRelatedPartyTransactionLineItems" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:label="loc_us-gaapScheduleOfRelatedPartyTransactionsByRelatedPartyTable" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xbrldt:contextElement="segment" xlink:from="loc_us-gaapRelatedPartyTransactionLineItems" xlink:to="loc_us-gaapScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:type="arc" order="10" xbrldt:closed="true" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:label="loc_us-gaapRelatedPartyTransactionsByRelatedPartyAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:to="loc_us-gaapRelatedPartyTransactionsByRelatedPartyAxis" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RelatedPartyDomain" xlink:label="loc_us-gaapRelatedPartyDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaapRelatedPartyTransactionsByRelatedPartyAxis" xlink:to="loc_us-gaapRelatedPartyDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RelatedPartyDomain" xlink:label="loc_us-gaapRelatedPartyDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_us-gaapRelatedPartyTransactionsByRelatedPartyAxis" xlink:to="loc_us-gaapRelatedPartyDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_EricARauscherMember" xlink:label="loc_SHEPHEricARauscherMember_0" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapRelatedPartyDomain" xlink:to="loc_SHEPHEricARauscherMember_0" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_JosephRauscherMember" xlink:label="loc_SHEPHJosephRauscherMember_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapRelatedPartyDomain" xlink:to="loc_SHEPHJosephRauscherMember_40" xlink:type="arc" order="41" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_DanielAndJoyceWallachMember" xlink:label="loc_SHEPHDanielAndJoyceWallachMember_80" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapRelatedPartyDomain" xlink:to="loc_SHEPHDanielAndJoyceWallachMember_80" xlink:type="arc" order="81" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_GregoryLSheldonMember" xlink:label="loc_SHEPHGregoryLSheldonMember_120" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapRelatedPartyDomain" xlink:to="loc_SHEPHGregoryLSheldonMember_120" xlink:type="arc" order="121" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_LamerSheldonMember" xlink:label="loc_SHEPHLamerSheldonMember_160" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapRelatedPartyDomain" xlink:to="loc_SHEPHLamerSheldonMember_160" xlink:type="arc" order="161" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_KennethSummersMember" xlink:label="loc_SHEPHKennethSummersMember_200" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapRelatedPartyDomain" xlink:to="loc_SHEPHKennethSummersMember_200" xlink:type="arc" order="201" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_SchultzFamilyRevocableLivingTrustMember" xlink:label="loc_SHEPHSchultzFamilyRevocableLivingTrustMember_240" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapRelatedPartyDomain" xlink:to="loc_SHEPHSchultzFamilyRevocableLivingTrustMember_240" xlink:type="arc" order="241" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_BarbaraHarshmanMember" xlink:label="loc_SHEPHBarbaraHarshmanMember_280" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapRelatedPartyDomain" xlink:to="loc_SHEPHBarbaraHarshmanMember_280" xlink:type="arc" order="281" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_KimberlyBedfordMember" xlink:label="loc_SHEPHKimberlyBedfordMember_320" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapRelatedPartyDomain" xlink:to="loc_SHEPHKimberlyBedfordMember_320" xlink:type="arc" order="321" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_ThomasSpatolaMember" xlink:label="loc_SHEPHThomasSpatolaMember_360" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapRelatedPartyDomain" xlink:to="loc_SHEPHThomasSpatolaMember_360" xlink:type="arc" order="361" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_ScottAndLeahSummersMember" xlink:label="loc_SHEPHScottAndLeahSummersMember_400" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapRelatedPartyDomain" xlink:to="loc_SHEPHScottAndLeahSummersMember_400" xlink:type="arc" order="401" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_JeffreyEppingerMember" xlink:label="loc_SHEPHJeffreyEppingerMember_440" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapRelatedPartyDomain" xlink:to="loc_SHEPHJeffreyEppingerMember_440" xlink:type="arc" order="441" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_BruceAndJeanEppingerMember" xlink:label="loc_SHEPHBruceAndJeanEppingerMember_480" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapRelatedPartyDomain" xlink:to="loc_SHEPHBruceAndJeanEppingerMember_480" xlink:type="arc" order="481" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_PaulaEppingerMember" xlink:label="loc_SHEPHPaulaEppingerMember_520" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapRelatedPartyDomain" xlink:to="loc_SHEPHPaulaEppingerMember_520" xlink:type="arc" order="521" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_NotesPayable" xlink:label="loc_us-gaapNotesPayable_570" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapRelatedPartyTransactionLineItems" xlink:to="loc_us-gaapNotesPayable_570" xlink:type="arc" order="0" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DebtWeightedAverageInterestRate" xlink:label="loc_us-gaapDebtWeightedAverageInterestRate_570" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapRelatedPartyTransactionLineItems" xlink:to="loc_us-gaapDebtWeightedAverageInterestRate_570" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_InterestExpense" xlink:label="loc_us-gaapInterestExpense_570" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapRelatedPartyTransactionLineItems" xlink:to="loc_us-gaapInterestExpense_570" xlink:type="arc" order="2" />
    </link:definitionLink>
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/RelatedPartyTransactionsDetailsNarrative" xlink:title="999086 - Disclosure - Related Party Transactions (Details Narrative)">
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RelatedPartyTransactionLineItems" xlink:label="loc_us-gaapRelatedPartyTransactionLineItems" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:label="loc_us-gaapScheduleOfRelatedPartyTransactionsByRelatedPartyTable" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xbrldt:contextElement="segment" xlink:from="loc_us-gaapRelatedPartyTransactionLineItems" xlink:to="loc_us-gaapScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:type="arc" order="10" xbrldt:closed="true" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:label="loc_us-gaapRelatedPartyTransactionsByRelatedPartyAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:to="loc_us-gaapRelatedPartyTransactionsByRelatedPartyAxis" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RelatedPartyDomain" xlink:label="loc_us-gaapRelatedPartyDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaapRelatedPartyTransactionsByRelatedPartyAxis" xlink:to="loc_us-gaapRelatedPartyDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RelatedPartyDomain" xlink:label="loc_us-gaapRelatedPartyDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_us-gaapRelatedPartyTransactionsByRelatedPartyAxis" xlink:to="loc_us-gaapRelatedPartyDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_WallachLOCMember" xlink:label="loc_SHEPHWallachLOCMember_0" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapRelatedPartyDomain" xlink:to="loc_SHEPHWallachLOCMember_0" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_WallachTrustLOCMember" xlink:label="loc_SHEPHWallachTrustLOCMember_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapRelatedPartyDomain" xlink:to="loc_SHEPHWallachTrustLOCMember_10" xlink:type="arc" order="11" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_MyrickLOCAgreementMember" xlink:label="loc_SHEPHMyrickLOCAgreementMember_30" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapRelatedPartyDomain" xlink:to="loc_SHEPHMyrickLOCAgreementMember_30" xlink:type="arc" order="31" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_MrSummersSonMember" xlink:label="loc_SHEPHMrSummersSonMember_120" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapRelatedPartyDomain" xlink:to="loc_SHEPHMrSummersSonMember_120" xlink:type="arc" order="121" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_Mr.SpatolaMember" xlink:label="loc_SHEPHMr.SpatolaMember_130" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapRelatedPartyDomain" xlink:to="loc_SHEPHMr.SpatolaMember_130" xlink:type="arc" order="131" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis" xlink:label="loc_srtScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:to="loc_srtScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis" xlink:type="arc" order="2" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_EquityMethodInvesteeNameDomain" xlink:label="loc_srtEquityMethodInvesteeNameDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_srtScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis" xlink:to="loc_srtEquityMethodInvesteeNameDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_EquityMethodInvesteeNameDomain" xlink:label="loc_srtEquityMethodInvesteeNameDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_srtScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis" xlink:to="loc_srtEquityMethodInvesteeNameDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_MrsCatherineLeslieMember" xlink:label="loc_SHEPHMrsCatherineLeslieMember_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srtEquityMethodInvesteeNameDomain" xlink:to="loc_SHEPHMrsCatherineLeslieMember_40" xlink:type="arc" order="41" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_MrMarkReynoldsMember" xlink:label="loc_SHEPHMrMarkReynoldsMember_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srtEquityMethodInvesteeNameDomain" xlink:to="loc_SHEPHMrMarkReynoldsMember_50" xlink:type="arc" order="51" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_MrsBarbaraHarshmanMember" xlink:label="loc_SHEPHMrsBarbaraHarshmanMember_60" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srtEquityMethodInvesteeNameDomain" xlink:to="loc_SHEPHMrsBarbaraHarshmanMember_60" xlink:type="arc" order="61" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_MrGregoryLSheldonMember" xlink:label="loc_SHEPHMrGregoryLSheldonMember_80" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srtEquityMethodInvesteeNameDomain" xlink:to="loc_SHEPHMrGregoryLSheldonMember_80" xlink:type="arc" order="81" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_MrKennethRSummersMember" xlink:label="loc_SHEPHMrKennethRSummersMember_90" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srtEquityMethodInvesteeNameDomain" xlink:to="loc_SHEPHMrKennethRSummersMember_90" xlink:type="arc" order="91" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_MrEricARauscherMember" xlink:label="loc_SHEPHMrEricARauscherMember_100" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srtEquityMethodInvesteeNameDomain" xlink:to="loc_SHEPHMrEricARauscherMember_100" xlink:type="arc" order="101" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_StatementClassOfStockAxis" xlink:label="loc_us-gaapStatementClassOfStockAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:to="loc_us-gaapStatementClassOfStockAxis" xlink:type="arc" order="3" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ClassOfStockDomain" xlink:label="loc_us-gaapClassOfStockDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaapStatementClassOfStockAxis" xlink:to="loc_us-gaapClassOfStockDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ClassOfStockDomain" xlink:label="loc_us-gaapClassOfStockDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_us-gaapStatementClassOfStockAxis" xlink:to="loc_us-gaapClassOfStockDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_ClassACommonUnitsMember" xlink:label="loc_SHEPHClassACommonUnitsMember_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapClassOfStockDomain" xlink:to="loc_SHEPHClassACommonUnitsMember_40" xlink:type="arc" order="42" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_SeriesCPreferredUnitsMember" xlink:label="loc_SHEPHSeriesCPreferredUnitsMember_110" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapClassOfStockDomain" xlink:to="loc_SHEPHSeriesCPreferredUnitsMember_110" xlink:type="arc" order="111" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_TitleOfIndividualAxis" xlink:label="loc_srtTitleOfIndividualAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:to="loc_srtTitleOfIndividualAxis" xlink:type="arc" order="4" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_TitleOfIndividualWithRelationshipToEntityDomain" xlink:label="loc_srtTitleOfIndividualWithRelationshipToEntityDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_srtTitleOfIndividualAxis" xlink:to="loc_srtTitleOfIndividualWithRelationshipToEntityDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_TitleOfIndividualWithRelationshipToEntityDomain" xlink:label="loc_srtTitleOfIndividualWithRelationshipToEntityDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_srtTitleOfIndividualAxis" xlink:to="loc_srtTitleOfIndividualWithRelationshipToEntityDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_ChiefExecutiveOfficerMember" xlink:label="loc_srtChiefExecutiveOfficerMember_70" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srtTitleOfIndividualWithRelationshipToEntityDomain" xlink:to="loc_srtChiefExecutiveOfficerMember_70" xlink:type="arc" order="71" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_NotesProgramFromEmployeesManagersMembersAndRelativesOfManagersAndMembersMember" xlink:label="loc_SHEPHNotesProgramFromEmployeesManagersMembersAndRelativesOfManagersAndMembersMember_140" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srtTitleOfIndividualWithRelationshipToEntityDomain" xlink:to="loc_SHEPHNotesProgramFromEmployeesManagersMembersAndRelativesOfManagersAndMembersMember_140" xlink:type="arc" order="141" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:label="loc_us-gaapDebtInstrumentBasisSpreadOnVariableRate1_170" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapRelatedPartyTransactionLineItems" xlink:to="loc_us-gaapDebtInstrumentBasisSpreadOnVariableRate1_170" xlink:type="arc" order="0" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LineOfCredit" xlink:label="loc_us-gaapLineOfCredit_170" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapRelatedPartyTransactionLineItems" xlink:to="loc_us-gaapLineOfCredit_170" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_EquityMethodInvestmentOwnershipPercentage" xlink:label="loc_us-gaapEquityMethodInvestmentOwnershipPercentage_170" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapRelatedPartyTransactionLineItems" xlink:to="loc_us-gaapEquityMethodInvestmentOwnershipPercentage_170" xlink:type="arc" order="2" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_CommonUnitsDescription" xlink:label="loc_SHEPHCommonUnitsDescription_170" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapRelatedPartyTransactionLineItems" xlink:to="loc_SHEPHCommonUnitsDescription_170" xlink:type="arc" order="3" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_PreferredUnitDescription" xlink:label="loc_SHEPHPreferredUnitDescription_170" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapRelatedPartyTransactionLineItems" xlink:to="loc_SHEPHPreferredUnitDescription_170" xlink:type="arc" order="4" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_LoanPrincipalAmountNotExceed" xlink:label="loc_SHEPHLoanPrincipalAmountNotExceed_170" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapRelatedPartyTransactionLineItems" xlink:to="loc_SHEPHLoanPrincipalAmountNotExceed_170" xlink:type="arc" order="5" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DebtInstrumentFaceAmount" xlink:label="loc_us-gaapDebtInstrumentFaceAmount_170" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapRelatedPartyTransactionLineItems" xlink:to="loc_us-gaapDebtInstrumentFaceAmount_170" xlink:type="arc" order="6" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:label="loc_us-gaapDebtInstrumentInterestRateStatedPercentage_170" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapRelatedPartyTransactionLineItems" xlink:to="loc_us-gaapDebtInstrumentInterestRateStatedPercentage_170" xlink:type="arc" order="7" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_OtherLiabilities" xlink:label="loc_us-gaapOtherLiabilities_170" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapRelatedPartyTransactionLineItems" xlink:to="loc_us-gaapOtherLiabilities_170" xlink:type="arc" order="8" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_InvestmentOwnedAtFairValue" xlink:label="loc_us-gaapInvestmentOwnedAtFairValue_170" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapRelatedPartyTransactionLineItems" xlink:to="loc_us-gaapInvestmentOwnedAtFairValue_170" xlink:type="arc" order="9" />
    </link:definitionLink>
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/CommitmentsAndContingenciesDetailsNarrative" xlink:title="999087 - Disclosure - Commitments and Contingencies (Details Narrative)">
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DebtSecuritiesHeldtomaturityAllowanceForCreditLossLineItems" xlink:label="loc_us-gaapDebtSecuritiesHeldtomaturityAllowanceForCreditLossLineItems" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DebtSecuritiesHeldToMaturityAllowanceForCreditLossTable" xlink:label="loc_us-gaapDebtSecuritiesHeldToMaturityAllowanceForCreditLossTable" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xbrldt:contextElement="segment" xlink:from="loc_us-gaapDebtSecuritiesHeldtomaturityAllowanceForCreditLossLineItems" xlink:to="loc_us-gaapDebtSecuritiesHeldToMaturityAllowanceForCreditLossTable" xlink:type="arc" order="10" xbrldt:closed="true" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancialInstrumentAxis" xlink:label="loc_us-gaapFinancialInstrumentAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapDebtSecuritiesHeldToMaturityAllowanceForCreditLossTable" xlink:to="loc_us-gaapFinancialInstrumentAxis" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xlink:label="loc_us-gaapTransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaapFinancialInstrumentAxis" xlink:to="loc_us-gaapTransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xlink:label="loc_us-gaapTransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_us-gaapFinancialInstrumentAxis" xlink:to="loc_us-gaapTransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_CommitmentsToExtendCreditMember" xlink:label="loc_us-gaapCommitmentsToExtendCreditMember_0" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapTransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xlink:to="loc_us-gaapCommitmentsToExtendCreditMember_0" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LineOfCreditFacilityFairValueOfAmountOutstanding" xlink:label="loc_us-gaapLineOfCreditFacilityFairValueOfAmountOutstanding_30" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtSecuritiesHeldtomaturityAllowanceForCreditLossLineItems" xlink:to="loc_us-gaapLineOfCreditFacilityFairValueOfAmountOutstanding_30" xlink:type="arc" order="0" />
    </link:definitionLink>
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/ScheduleOfSellingGeneralAndAdministrativeExpensesDetails" xlink:title="999088 - Disclosure - Schedule of Selling General and Administrative Expenses (Details)" />
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/ScheduleOfPremisesAndEquipmentDetails" xlink:title="999089 - Disclosure - Schedule of Premises and Equipment (Details)">
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PropertyPlantAndEquipmentLineItems" xlink:label="loc_us-gaapPropertyPlantAndEquipmentLineItems" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ScheduleOfPropertyPlantAndEquipmentTable" xlink:label="loc_us-gaapScheduleOfPropertyPlantAndEquipmentTable" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xbrldt:contextElement="segment" xlink:from="loc_us-gaapPropertyPlantAndEquipmentLineItems" xlink:to="loc_us-gaapScheduleOfPropertyPlantAndEquipmentTable" xlink:type="arc" order="10" xbrldt:closed="true" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:label="loc_us-gaapPropertyPlantAndEquipmentByTypeAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapScheduleOfPropertyPlantAndEquipmentTable" xlink:to="loc_us-gaapPropertyPlantAndEquipmentByTypeAxis" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:label="loc_us-gaapPropertyPlantAndEquipmentTypeDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaapPropertyPlantAndEquipmentByTypeAxis" xlink:to="loc_us-gaapPropertyPlantAndEquipmentTypeDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:label="loc_us-gaapPropertyPlantAndEquipmentTypeDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_us-gaapPropertyPlantAndEquipmentByTypeAxis" xlink:to="loc_us-gaapPropertyPlantAndEquipmentTypeDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LandMember" xlink:label="loc_us-gaapLandMember_0" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapPropertyPlantAndEquipmentTypeDomain" xlink:to="loc_us-gaapLandMember_0" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_OfficeMember" xlink:label="loc_SHEPHOfficeMember_20" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapPropertyPlantAndEquipmentTypeDomain" xlink:to="loc_SHEPHOfficeMember_20" xlink:type="arc" order="21" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_EquipmentMember" xlink:label="loc_us-gaapEquipmentMember_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapPropertyPlantAndEquipmentTypeDomain" xlink:to="loc_us-gaapEquipmentMember_40" xlink:type="arc" order="41" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PropertyPlantAndEquipmentGross" xlink:label="loc_us-gaapPropertyPlantAndEquipmentGross_90" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapPropertyPlantAndEquipmentLineItems" xlink:to="loc_us-gaapPropertyPlantAndEquipmentGross_90" xlink:type="arc" order="0" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" xlink:label="loc_us-gaapAccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_90" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapPropertyPlantAndEquipmentLineItems" xlink:to="loc_us-gaapAccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_90" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PropertyPlantAndEquipmentNet" xlink:label="loc_us-gaapPropertyPlantAndEquipmentNet_90" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapPropertyPlantAndEquipmentLineItems" xlink:to="loc_us-gaapPropertyPlantAndEquipmentNet_90" xlink:type="arc" order="2" />
    </link:definitionLink>
    <link:definitionLink xlink:type="extended" xlink:role="http://shepherdsfinance.com/role/PremisesAndEquipmentDetailsNarrative" xlink:title="999090 - Disclosure - Premises and Equipment (Details Narrative)">
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PropertyPlantAndEquipmentLineItems" xlink:label="loc_us-gaapPropertyPlantAndEquipmentLineItems" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ScheduleOfPropertyPlantAndEquipmentTable" xlink:label="loc_us-gaapScheduleOfPropertyPlantAndEquipmentTable" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xbrldt:contextElement="segment" xlink:from="loc_us-gaapPropertyPlantAndEquipmentLineItems" xlink:to="loc_us-gaapScheduleOfPropertyPlantAndEquipmentTable" xlink:type="arc" order="10" xbrldt:closed="true" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:label="loc_us-gaapPropertyPlantAndEquipmentByTypeAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapScheduleOfPropertyPlantAndEquipmentTable" xlink:to="loc_us-gaapPropertyPlantAndEquipmentByTypeAxis" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:label="loc_us-gaapPropertyPlantAndEquipmentTypeDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaapPropertyPlantAndEquipmentByTypeAxis" xlink:to="loc_us-gaapPropertyPlantAndEquipmentTypeDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:label="loc_us-gaapPropertyPlantAndEquipmentTypeDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_us-gaapPropertyPlantAndEquipmentByTypeAxis" xlink:to="loc_us-gaapPropertyPlantAndEquipmentTypeDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="sheph-20251231.xsd#SHEPH_PremisesAndEquipmentMember" xlink:label="loc_SHEPHPremisesAndEquipmentMember_0" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapPropertyPlantAndEquipmentTypeDomain" xlink:to="loc_SHEPHPremisesAndEquipmentMember_0" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DepreciationAndAmortization" xlink:label="loc_us-gaapDepreciationAndAmortization_30" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapPropertyPlantAndEquipmentLineItems" xlink:to="loc_us-gaapDepreciationAndAmortization_30" xlink:type="arc" order="0" />
    </link:definitionLink>
    <link:definitionLink xlink:type="extended" xlink:role="http://xbrl.sec.gov/ecd/role/PvpExecutiveCategoriesOnly" />
    <link:definitionLink xlink:type="extended" xlink:role="http://xbrl.sec.gov/ecd/role/PvpAdjustmentsOnly" />
    <link:definitionLink xlink:type="extended" xlink:role="http://xbrl.sec.gov/ecd/role/IndividualsOnly" />
    <link:definitionLink xlink:type="extended" xlink:role="http://xbrl.sec.gov/ecd/AwardTypeOnly" />
    <link:definitionLink xlink:type="extended" xlink:role="http://xbrl.sec.gov/ecd/role/TradingArrangementsOnly" />
</link:linkbase>
