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Fulda Economic Development
The Fulda Economic Development Authority (Fulda EDA) can help you start or expand your business by loaning money to fill the financial gap that exists between what your project will cost and what your lending institution is able to loan.
The Fulda EDA is administered by a 7 member board appointed by the City of Fulda.
The Fulda EDA is not intended to be a substitute of conventional loan financing or to be used in place of other specialized federal, state or local programs.
The majority of the financing will generally come from conventional sources ( ie. lending institutions) while the Fulda EDA will be used to “fill the gap” that may exist between what the project will cost and what the bank is able to loan. This is often called “gap” or subordinate financing.
Business loan application packets are available for the Fulda EDA from: Darwin Kruse or Linda Jacobson.
The Fulda EDA also has “gap” housing financing available for down payment assistance for residential purchases. Please inquire of an EDA board member for the application process.
- Darwin Kruse, President
- Michelle Baumhoefner, Vice President
- Linda Jacobson, Secretary/Treasurer
- Jerry Johnson
- Jenny Winter
- Ann Witzel
- Jim Elsing