Category Archives: Uncategorized

Rural Enterprises of Oklahoma, Inc. (REI) has released its year-end report on activities and impact during 2008. “We are very pleased to announce that the financial impact from our services in 2008 was over $300 million and over 6,000 people were served,” said Tom Seth Smith, President & CEO. “This is even more significant in consideration of today’s struggling economy and a lot of the credit for our success goes to our network of partners helping us carry out our programs statewide.” The financial impact of all REI services totaled $341,936,914 for the year and 6,867 clients were assisted through … Continue reading →

Like most entrepreneurs, Jack and Sheri Nicholson needed capital to establish their business, Big C Machine, Inc., a full service machine shop. They visited with their local banker who referred them to Rural Enterprises of Oklahoma, Inc. (REI), a non-profit economic development firm that has been assisting Oklahoma businesses for over 25 years. Big C Machine, Inc. , located in Chattanooga, OK, is the only tool shop in the area with computer numerical control (CNC)capabilities. Chattanooga, OK is centrally located between Lawton and Wichita Falls, TX, placing the business in an ideal market position to serve southwest Oklahoma and North … Continue reading →

The Women’s Business Center (WBC) of Rural Enterprises of Oklahoma, Inc. (REI) has taken some of its training on the road including a trip to the Dallas Market Center, the largest wholesale resource in the world encompassing four buildings totaling more than five million square feet. Over 400,000 people visit the Dallas Market each year including more than 200,000 buyers from all 50 states and 84 countries. Forty-five people participated in the Dallas Market (DMC) bus trip which started in Sulphur, OK and included a stop in Ardmore, OK before heading down to Dallas. Time on the bus wasn’t wasted. … Continue reading →

Freedom, OK, population 271, needed the services of a convenience store that was open seven days a week with extended hours of operation. That need was met when Darrell C. Myers received financial assistance to purchase an existing business with the help of REI and First American Bank, Woodward, OK. REI and First American Bank partnered in the SBA 504 and SBA (7) lending programs to provide the financial assistance Myers needed to purchase Camp Houston Country Store. The business is located on State Highway 50 and U.S. 64, a main passage way serving Woods County. It’s a welcomed sight … Continue reading →

Rural Enterprises of Oklahoma, Inc. (REI) has announced a boundary expansion of Foreign Trade Zone #227, Durant. REI has been granted approval for expansion of the Zone to serve the Ardmore Airpark and Westport Industrial Park. The boundary expansion incorporates a total of 2,900 acres. The FTZ program is the leading federal program being used by companies involved in international trade. The FTZ program lowers the costs of U.S.-based operations engaged in international trade allowing them to store, repackage, repair, manipulate, manufacture or process foreign merchandise in a Zone, free of tariffs and ad valorem taxes, while the merchandise remains … Continue reading →

Foregoing its usual annual staff retreat, Rural Enterprises of Oklahoma, Inc. (REI) has set aside Friday, November 14 to participate in community service projects as a way of giving back to the community which has been home to REI headquarters for over 25 years. When REI contacted the City of Durant and Durant Main Street for projects to work on, the City of Durant suggested participation in the community’s Senior Citizen Safety program. REI staff will assist the local Fire and Police Departments with the installation of beacon porch light bulbs, smoke alarms, installation of door viewers and completing “File … Continue reading →

REI is the number one Certified Development Company (CDC) in the state for U. S. Small Business Administration (SBA) 504 loans and dollar volume approved. Certified Development Companies are nonprofit corporations that work with the SBA and lenders, primarily local banks, in providing financing to small businesses. REI has been a Certified Development Company since 1982. During SBA’s fiscal year from October 1, 2007, to September 30, 2008, REI received SBA approval for 33 loans in 19 Oklahoma counties for a total of $17,817,000 affecting 654 jobs statewide. REI produced 39 percent of all SBA 504 loans processed in Oklahoma … Continue reading →

Atlanta, GA (October 28, 2008) – The Southern Economic Development Council (SEDC), the oldest and largest regional economic development association in North America, is pleased to announce Tom Smith as the newest Honorary Life Member (HLM) of the association. He was recognized recently at the association’s annual conference in Hot Springs, Virginia. Smith serves as the President & CEO of Rural Enterprises of Oklahoma, Inc. in Durant, Oklahoma. The HLM designation is the highest award SEDC bestows and it recognizes individuals that have made significant contribution to the profession in one or more state of SEDC’s region. “Tom is an … Continue reading →

Entrepreneurs young and old alike are invited to enter the New Product and Process Fair to be held December 5 at the Wes Watkins Center on the campus of Oklahoma State University, Stillwater. The application deadline is November 16. Official rules and regulations are available in a clear, easy-to-navigate format at www.newproductsfair.com. For over 20 years, the New Product and Process Fair has been the launching pad for new products and processes. Fair founder and former Congressman Wes Watkins says the annual event is designed to challenge the creativity and inventiveness of people of all ages. There are six divisions of … Continue reading →

The Fifth Annual Holiday Biz Showcase is scheduled to be held in Durant in November, according to Dr. Barbara Rackley, coordinator of the Women’s Business Center of Rural Enterprises of Oklahoma, Inc. (REI). “The showcase will serve to acquaint the community with local businesses and their products,” said Dr. Rackley. The showcase is free to the public. Oklahoma businesses will display a wide range of products and services, including skin care, gourmet foods, monogrammed clothing, purses, jewelry and much more. Customers may purchase or order products and services. Gift certificates for holiday giving will also be available. The showcase is … Continue reading →