Contact

Our Office

  • Phone: (605) 882-5115
  • Fax: (605) 882-5049
  • Email: FDDC@1stdistrict.org
  • Physical Address:
    124 First Ave NW, Watertown, SD
  • Mailing Address:
    PO Box 1207, Watertown, SD 57201
  • Handicapped_Accessible_sign_small
124 First Ave NW, Watertown, SD 57201

Meet our Team

Paula Hulscher

Paula Hulscher

Executive Vice President

paula@1stdistrict.org
Paula has been employed with FDDC since August 1997. She has prior experience in housing development finance and accounting for private businesses. Paula has a Bachelor of Science degree in Accounting with a minor in Management Information Systems from Northern State University, Aberdeen, and a Masters of Business Administration from Mount Marty College, Yankton.


Amy Waite

Amy Waite

Loan Officer

amy@1stdistrict.org
Amy has been with FDDC since September 2004. Before FDDC, Amy worked in accounting for small businesses. She has a Bachelor of Science degree in Business Administration from Mount Marty College, Watertown.


ShelbyWeb

 Shelby Kraemer

Loan Officer

shelby@1stdistrict.org
Shelby has been with FDDC since December 2018. Before FDDC, Shelby worked for the Federal Government assisting small businesses, banks, and public entities with loans and grants. She has a Bachelor of Business Administration with a major in finance from the University of South Dakota, Vermillion.


Andrea Thyen

Andrea Tesch

Assistant Loan Officer

andrea@1stdistrict.org
Andrea has been with FDDC since February 2015. Before FDDC she completed her Associates degree in Ag-Finance and Consumer Banking at Lake Area Technical Institute in Watertown, SD.


About FDDC

First District Development Company (FDDC) is a non-profit corporation promoting economic development and job creation in Eastern South Dakota. Established in 1983 as a Certified Development Company, First District Development Company is licensed by the Small Business Administration to offer the SBA Real Estate Advantage 504 Loan. Under this program, FDDC provides long-term financing to small businesses for real estate acquisition, construction, and equipment purchases. FDDC originates, packages, processes, closes, and services the 504 loans.

Since 1983, First District Development Company has loaned over $133 million in SBA REAL 504 financing to over 350 new or expanding businesses resulting in the creation of over 2,200 jobs. Types of REAL 504 projects previously financed through FDDC include: motels, convenience stores, assisted living centers, auto dealerships, restaurants, gymnastics studios, manufacturing concerns, dairy operations, veterinary clinics, photography studios, wholesale food concerns, and chiropractic clinics, among others.

First District Development Company also encourages economic growth and business development through Intermediary Relending Programs, Revolving Loan Funds and County Revolving Loan Funds in an eleven county area in Eastern South Dakota. This institution is an equal opportunity provider.