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SBA 504 SUCCESS STORIES

The following are projects that took advantage of the SBA 504 program through First District Development Company...

Dr. Farnham built a new dental office for his practice using the SBA 504 program for two loans - one for the real estate and one for equipment. This new office has made his business more efficient and enjoyable, compared to the trailer he was previously working in. Dr. Brett Farnham, D.D.S.
Mitchell, SD

Power Brokers, Inc.
Sioux Falls, SD
Power Brokers, Inc., is a story of one man's unusual idea that turned out to be a huge success. After renting a building for three years and busting out of it at the seams, it was apparent Jim LeTendre's idea was a success. The idea that surfaced was to sell motorcycles, ATVs, snowmobiles, watercraft, and related accessories on consignment - matching sellers with buyers. Using the 504 loan program, Power Brokers, Inc. constructed a new building, which their customers are enjoying as there are more units shown on the floor and a wider variety to choose from.

After building a successful retail lumberyard business in Lake Norden, Tom Homola was able to construct the Hamlin Pro Center with the help of the SBA 504 loan, so contractors in Brookings only have a short trip to take advantage of his building expertise. Hamlin Pro Center is a full service lumberyard from completing drafts to estimations. They sell a wide variety of products, such as doors, windows, cabinets, siding, shingles, drywall, paint, tools, equipment rentals, and other materials needed for the construction of homes and businesses. Hamlin Pro Center
Brookings, SD

Real Estate Pro's, Inc.
Watertown, SD
Having an abundance of real estate experience between them, two agents decided to join forces and create Real Estate Pro's, Inc. The two owners and agent operators, along with seven other agents were operating out of a leased space. After gaining approval from their local lender and the SBA 504 loan program, Real Estate Pro's, Inc., was able to construct a new building to increase office space, hire additional agents, and expand their expertise as a real estate agency to more customers.

Tailgator's, Inc. was formerly located in a strip mall and in 2001, started the construction of a new, larger building using the SBA 504 program. The facility, now located next to a hotel and the interstate, has a large sports bar and dining area, video lottery room, and banquet areas. Tailgator's, Inc.
Brandon, SD

HR One Stop, Inc.
Waubay, SD
After many years of running a hardware store and gas station on Main Street of Waubay, a new building was constructed to house both businesses, as well as, a convenience store complete with fishing supplies. With the help of the SBA 504 program, HR One Stop, Inc. is now located next to the new SD Highway 12.

Since the 1950's, Mundwiler Funeral Home of Milbank has been owned by the Mundwiler family, with the current generation operating the funeral home since 1984. The need for a larger work area was apparent to Tim and Tana Mundwiler, as they were declining business simply because they did not have enough space to accommodate additional clients. With the help of the SBA 504 program, they were able to construct a new building to house their business and their home, as it is necessary they be accessible 24 hours, seven days a week in the funeral home industry. Mundwiler Funeral Home
Milbank, SD

Super 8 Hotel
Yankton, SD
SBA 504 loan proceeds were necessary to fund the purchase, remodel, and equipment of the existing Super 8 Hotel in Yankton. Fulfilling the public policy goals of rural development and minority ownership, this project was eligible to receive 504 funds. The remodeling included upgrading the signage, resurfacing the parking lot, handicap accessibility, remodeling the breakfast area, and much more. The Super 8 is a 58 room hotel that was established in Yankton in the 1970s.

The Dluxe Car Wash building and existing equipment was able to change ownership with the help of financing provided by the SBA 504 program. In addition to getting their automobiles cleaned inside and out, customers are able to have their oil changed and gas tank filled. While their vehicles are being maintained by the staff of Dluxe Car Wash, patrons are able to sit down inside and enjoy a beverage and snack or shop for auto accessories. Dluxe Car Wash
Aberdeen, SD

Legend Seeds, Inc.
DeSmet, SD
A full service regional seed company, Legend Seeds, Inc., found themselves expanding so quickly they needed additional warehouse space. With the help of the SBA 504 program, they constructed a 17,400 square foot warehouse, which will allow them maximum flexibility in storing approximately 80,000 bags of seed.

Laser Cut, Inc. took advantage of the SBA 504 program for their equipment financing needs. In order to expand Laser Cut's business, a faster laser machine was necessary to continue manufacturing their custom scoops that are mounted on skid-steer loaders. The new machine uses lasers to make precision cuts on sheet and plate products. In fact, the machine is as efficient as five similar, older laser cutting machines combined. Laser Cut, Inc.
Madison, SD

Southeastern Hair Design & Day Spa
Sioux Falls, SD
To be able to continue taking on new clients and reduce the crowded feel of the salon for the existing clients, Southeastern Hair Design & Day Spa constructed a new building using the SBA 504 program. Southeastern Hair Design & Day Spa is able to provide an array of hair services, including cuts, styling, reconditioning, color, body and texture perms, straightening, and extensions. Spa services offered include: nails, waxing, make-up applications and lessons, facials, massages, and body treatments.
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