FDDC Blog

New Leadership at FDDC – Hulscher Resigns

From the Board of Directors –Paula Hulscher has spent 27 years at First District Development Company (FDDC ), and she will be greatly missed by everyone from staff to board members and all of the many businesses she has served and supported over these last many years. Over the course of the last 10 years… Read more »


FDDC Awards Scholarships

As a partner to South Dakota’s small businesses, First District Development Company invests in economic development activities other than lending. Student applicants were evaluated based on their academic achievements, character references, a written essay, and involvement in community, school, extra-curricular, volunteer, work, and special interest activities. The five students, who each are pursuing a post-secondary… Read more »


Need Some Extra Muscle?

Spring marks the timing of new projects and new growth! In the small business world, those two developments require capital. If your lending institution is unable to fulfill your small business client’s request due to the dollar amount of their project, consider partnering with FDDC via the SBA 504 loan program –>> $5 million maximum… Read more »


SBA’s Pot is Full of Green!

Great news for small businesses – just days ago President Biden signed the long-term funding bill, which secures new authorization levels for the SBA 504 program! For FY22 the new SBA 504 authorization levels are:$11 billion for regular 504; and$4 billion for 504 debt refinance without expansion Thanks to the hard work put into this… Read more »


We Love Small Business!

At First District Development Company, small business financing is what we do. We finance dreams that turn into steel and concrete. With multiple financing options, South Dakota small businesses are more likely to find a solution that works for them and stimulate job growth. FDDC offers low, fixed rate loans critical for the needs of… Read more »


First District Development Company Awards Tyler Wenbourne

2021 Lender of the Year Each year First District Development Company selects an individual lender who has frequently partnered with FDDC as their “Lender of the Year”. For 2021, FDDC awarded Tyler Wenbourne, Business Banker at Dacotah Bank in Aberdeen, South Dakota, as the 2021 Lender of the Year. Wenbourne was chosen based on the… Read more »


Revolving Loan Funds – Another Tool to Assist Businesses

FDDC has been a partner of small businesses for 40 years and its experienced staff works to customize a loan product for each of its customers. In addition to the SBA 504 program, First District Development Company offers financial assistance through our Revolving Loan Funds. FDDC’s earliest Revolving Loan Funds (RLFs) were established in 1986… Read more »


Feature 504: Black Hills Vinyl, Rapid City, SD

Michael and Jennifer Calabrese found their passion for vinyl records while living in Boulder, Colorado. Collecting vinyl records started out as a hobby and according to Jennifer, “We just fell in love with vinyl and started collecting in a big way. We picked up albums for a dollar in thrift stores, garage sales, antique stores,… Read more »


How Much Do I Need to Occupy?

SBA 504 is used to directly assist small businesses, which is the reason for SBA’s distinct occupancy guidelines. SBA 504 financing is designed for owner-occupied commercial real estate (and equipment). However, leasing a portion of the commercial space is allowed. To be eligible, the borrower must meet SBA’s requirements below: For New ConstructionBorrower or operating company needs… Read more »


Christmas Wish Granted… SBA Fees Reduced

Happy Holidays! On October 1st, SBA announced a decrease to one of the ongoing monthly servicing fees paid to SBA – the ongoing guarantee fee is reduced from 0.4517% to 0.2475% of the outstanding balance of the loan. December is the first month rates are reported showing this reduction to the ongoing servicing fees. For… Read more »