Author Archives: gurustu

Tom Seth Smith, REI President & CEO and Kenny Simpson, Executive Vice President prepare to step into Stilettos for REI’s March of Dimes campaign, the Stiletto Sprint. The one with the least amount of money raised will slip into high heels on Friday, September 26 to start the race. If you want to see the President & CEO in Stilettos the day of the race, you will want to donate money to the “Kenny Simpson jar” and vice versa. Simply stop by REI headquarters at 2912 Enterprise Blvd. to make your donation. You may also call 800-658-2823 or 924-5094 to … Continue reading →

Kyle D. Hughbanks has been appointed to the Board of Directors of Durant-based Rural Enterprises of Oklahoma, Inc. (REI). He joined Central National Bank of Alva in 1999 and served as Executive Vice President and Chief Lending Officer prior to his appointment as President & CEO. Hughbanks has extensive experience in chattel, inventory and real estate appraisal and as Chief Lending Officer, he had oversight of a portfolio of more than $100 million, as well as personally servicing a portfolio of more than $20 million. He earned a bachelor’s degree in Agricultural Economics with a minor in Accounting from Oklahoma … Continue reading →

Two Durant women had a once-in-a-lifetime experience when they were invited to meet with President George W. Bush in a roundtable discussion about health savings accounts for small businesses. Durant residents, Dr. Barbara Rackley, coordinator of REI’s Women’s Business Center (WBC) in Durant and Kathy Robinson, President & CEO, Schoolware, Inc. ,located in an REI-managed business incubator, were among those invited to meet with President Bush at the Presbyterian Health Foundation Research Park Conference Center in Oklahoma City. “It was certainly an honor I never expected to come my way,” Rackley said, “and it’s an experience I will never forget.” … Continue reading →

REI has released its mid-year report on activities and impact from January through June, 2008. The financial impact from REI’s business financing, tax credit and housing programs currently tops $46 million. Compared to the organization’s mid-year report last year, REI reports a 263 percent increase in business financing. The organization’s down payment and closing cost assistance program for homebuyers showed a 17 percent increase and an increase of over 200 percent in the number of families assisted through its Employer-Assisted Housing Incentive. REI’s Women’s Business Center reported a 78 percent increase in persons trained and counseled. Also during this reporting … Continue reading →

There were no employees, no vendors and only a few open purchase orders when William Moskwa started AERO Component Repair, LLC in Durant, OK. In April 2004, Moskwa purchased the real estate and fixed assets of a business that was no longer in operation. Currently, AERO Component Repair, LLC employs 15 and has expansion plans on the drawing board. AERO Component Repair, LLC performs repairs on turbine engine aircraft parts as well as manufacturing and repair of locomotive turbo charger parts and large diesel engines. The company’s market extends across the United States. Moskwa, with an engineering degree from Northrop … Continue reading →

Debbie Partin, financial services director, Rural Enterprises of Oklahoma, Inc. (REI) has been elected to serve on the board of directors of the National Association of Development Companies (NADCO) for Region 6 which includes Oklahoma, Texas, New Mexico, Louisiana and Arkansas. Partin began her REI career in 1992 serving as a Financial Services Specialists followed by promotions to Sr. Loan Officer and to the position she currently holds as Financial Services Director. She also serves as Executive Vice President of REI New Markets Investment, LLC. A graduate of Cameron University, Lawton, OK with a B. A. in Business Administration, Partin … Continue reading →

The relocation of the Stigler Wellness Center to the vacated Wal-Mart building is being accomplished through a great combination of financing programs and partnerships. It is also the first pilot project in the nation to combine the Community Facilities Guaranteed Loan Program of USDA Rural Development and the New Markets Tax Credit Program administered by REI. A statewide economic development organization, REI was chosen from all others across the U. S. to launch this pilot project. Both programs are targeted to serve rural communities like Stigler to meet essential needs, such as health care, and to energize the local economy. … Continue reading →

What began as a home based business is now a successful, job-creating electrical contracting company. In 2002, Chris Farris, set up shop in his garage at home but he’s not home anymore. Today, Farris Electric, LLC is located in an REI-managed business incubator in Suite A 4 at 2912 Enterprise Blvd., Durant. As the business grew, Farris knew he needed to establish a point of presence in the community while expanding the business operations. The business serves southeastern Oklahoma and North Texas. Farris is a licensed contractor in both Oklahoma and Texas and also holds a heating and air conditioning … Continue reading →

A partnership between Conners State College, Warner, OK and Rural Enterprises of Oklahoma, Inc. (REI) has accomplished the first business incubator on the college campus. Business incubators are spaces to help start-up or expanding businesses develop and grow into job-creating entities. Ideal for a service or technology-based business, the incubator consists of office space up to 1,880 square feet in two suites. The office space was recently remodeled and has been certified by the Oklahoma Department of Commerce. The certification provides tax incentives to the business. According to Kenneth Norris, REI incubator manager, Oklahoma is the only state offering state … Continue reading →

Rural Enterprises of Oklahoma (REI) announces that the organization’s full range of services are now available in Tulsa and surrounding communities. The most recent expansions include the services of the Women’s Business Center and the opening of the Native American Business Enterprise Center. The recent expansion of activities rounds out the full line of economic development products and services available from REI’s Tulsa office located at Memorial Place Center. Sponsored by the U S Small Business Administration, REI’s Women’s Business Center (WBC) has been providing training and counseling to women entrepreneurs and other businesses through workshops in the southeast quadrant … Continue reading →