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 »


For your continued business and support this year. Small business success, your financial institution’s success, and FDDC’s success are truly an intertwining of lending instruments working in symphony so the entire network thrives. This past year we have all leaned on each other – and South Dakota’s economic network dove in headfirst to assist business… Read more »

Changes to… SBA 504 Debt REFINANCE Without Expansion

As of July 30, 2021,SBA implemented program changes that significantly affect the eligibility and requirements for the SBA 504 Debt Refinance program. These are permanent changes to the 504 program that make it less restrictive. Eligibility Requirements Recapped Original debt incurred not less than 6 months prior to SBA application 85% or more of the… Read more »

FDDC Celebrates with Open House

First District Development Company held a ribbon cutting and open house to celebrate their new building. Even though the move to the new location was almost two years ago, it was a great day to invite in our lending partners, customers, and the public to take a tour and enjoy refreshments. Thank you to all… Read more »

Feature 504: Nimble Wash, De Smet, SD

Nimble Wash in De Smet, SD, recently opened its doors with the help of an attractive financing package offered by the partnership of Bryant State Bank and FDDC via the SBA 504 loan program. Clinton and Brenda Efraimson, owners of Nimble Wash, were thrilled to utilize the SBA 504 loan program—locking in on a low,… Read more »