How does SBA calculate a “Small” Business?

SBA’s rule states the applicant business (including Affiliates) must meet the following “Small” Business Size Standard: Maximum tangible net worth may not exceed $15 million; and The average net income after Federal income taxes (excluding any carry-over losses) for the 2 full fiscal years before the application date may not exceed $5 million. Effective May… Read more »

Flourishing Together

YES, we’re looking at you. Our valued lending partner + FDDC via an SBA 504 loan + an amazing South Dakota entrepreneur! Now is the time many small business entrepreneurs are looking to launch into their commercial construction project. For other small business owners, now is the time to freshen up their balance sheet via… Read more »

Think Green – Think 504!

When thinking GREEN – think FDDC and SBA 504 loan program, as there are numerous ways 504 is gaga for GREEN… Agribusiness Projects – think green acres necessary to support agribusiness operations – YES, they’re an eligible 504 project cost! Green Borrower – clients new to their field and wanting to start up their business… Read more »

Partnering with FDDC… What’s not to LOVE?

With FDDC’s specialty being the SBA 504 loan program, it’s easy for the FDDC team to love what they do every day. As listed below, there are so many positives to the 504 program it’s got us questioning… WHAT’S NOT TO LOVE? Fast approval – FDDC Board meets as needed – After Board approval, via… Read more »

FDDC Awarding Five $1,000 Scholarships

Who is eligible to apply: High school seniors attending a South Dakota High School who have been accepted into a business/finance program at an accredited, post-secondary institution in South Dakota and have a GPA of 3.5 or greater. Deadline: March 31, 2023 For more details and to apply: Click Here for Application Form If you… Read more »

Happy New Year!

FDDC will celebrate 40 years of delivering affordable financing to South Dakota businesses in 2023. While the faces of those doing the work of First District have changed over the years, First District’s focus has not – putting the borrower FIRST. We are looking forward to another year of partnering with South Dakota lenders and… Read more »


As the saying goes, “Gratitude is like gravy – put it on everything!” So we pour out our thanks to you for choosing FDDC as your lending partner and resource for South Dakota’s new and expanding business financing. Your patronage and loyalty keeps FDDC thriving and makes our line of work a pleasure each day…. Read more »

We’re Hiring | Loan Officer

The Position: First District Association of Local Governments with an office in Watertown, SD, is seeking an energetic, results-oriented individual for the position of Loan Officer.  Reporting to the Executive Vice President, the Loan Officer will be responsible for identifying, originating and closing loans for First District Development Company’s SBA 504 Program and other loan… Read more »

Tried, True, & Thankful for You

In this time of many uncertainties, you can count on this – Relationships amongst South Dakota’s longstanding economic playmaker’s SBA 504 FIXED interest rates Tried >> Relationships – FDDC has been a Certified Development Company (CDC) since 1983. Currently, combined, our team has over 24 years of experience navigating SBA’s red tape and lending to… Read more »

Something strange with the request on your desk…

Who you gonna call? FIRST DISTRICT! Partnering with FDDC via the SBA 504 loan program will allow all of your credit boxes to be checked. The following are a few examples of issues the partner 504 loan will resolve: ˜˜Client is unable to meet your equity injection requirements With the SBA 504 loan involved, a… Read more »