Our Office

  • Phone: (605) 882-5115
  • Fax: (605) 882-5049
  • Email:
  • Physical Address:
    418 18th Ave NE, 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

Executive Vice President
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, SD, and a Masters of Business Administration from Mount Marty College, Yankton, SD.

Amy Waite

Amy Waite

Loan Officer
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, SD.


 Shelby Kraemer

Loan Officer
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, SD.


Brittany Rost

Assistant Loan Officer
Brittany has been with FDDC since October, 2020. Before FDDC, Brittany worked for other lending institutions.  She completed her Associates degree in Financial Services at Lake Area Technical Institute in Watertown, SD.

Grace Tschakert

Assistant Loan Officer
Grace has been with FDDC since June, 2021. She completed her Bachelor of Science degree in Business Administration with a Finance emphasis at Dakota Wesleyan University in Mitchell, 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 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 $159 million in SBA 504 financing to over 400 new or expanding businesses resulting in the creation of over 2,200 jobs. Types of SBA 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.