FDDC Blog

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Benefits of SBA 504 via FDDC

FDDC Experts take the lead from beginning to end on the SBA 504 loan to ensure it is approved, closed, funded and serviced for the life of the 10 or 20 year loan. Day in, day out – the SBA 504 loan is FDDC’s focus.


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Typical SBA 504 Financing Structure

It’s as easy as 1 – 2 – 3…
A bank or other private lender typically finances 50% of the project cost and takes a first lien position on the assets financed.



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Feature 504: Burhenn & Gruenig, Brandon, SD

B & G Heating & Air Conditioning, Inc., dba Burhenn & Gruenig, located in Brandon, South Dakota, is one of First District Development Company’s most recent clients to take advantage of a low, fixed interest rate with an SBA 504 loan.


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Grow More with 504

Lenders grow your customer base. When partnering with First District Development Company on an SBA 504 loan, lenders can assist their customers with larger projects, expand their lending limits and grow their portfolio.


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No Job Creation? No Problem!

SBA 504 is a business economic development loan program. Economic development doesn’t always mean job creation.



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Frequently Asked Questions About the SBA 504 Program

Q. What if my small business expansion includes creating work efficiencies to limit the number of jobs created? Can I still qualify for SBA 504?

A. Most small business projects involve the creation of jobs; however, some involve just a change of ownership, a business that is not labor intensive, or improved technology that eliminates the need for manpower. These situations are still eligible for SBA 504 if they meet one of SBA’s Public Policy goals of Rural Development, Woman/Minority/Veteran Ownership, Expansion of Exports, or Area Development.


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FDDC Makes the SBA 504 Process Easy

FDDC prides themselves on being very organized with continual communication with the lender and the borrower throughout the process. 


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Feature 504: IMED Mobility, Tea, SD

Facing challenges and problem solving is what Bob Lundin practices on a daily basis working at his company, IMED Mobility in Tea, South Dakota. In February, 2015, the IMED building, where they’ve been for the past 12 years, suffered a serious fire and had severe smoke and water damage due to an electrical surge in an unused office. Bob immediately took the steps necessary to temporarily relocate his business to rented space across the street and started working with his lender, Jeremy Keizer at Reliabank in Tea. Through a partnership of SBA 504 loan funds made available through First District Development Company and a conventional loan from Reliabank, IMED Mobility was able to move into its new and impressive building in Tea during the fall of 2016. In fact, the new building sits on the same ground where IMED’s first building once stood.