Category Archives: Uncategorized

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 →

Rural Enterprises of Oklahoma, Inc. (REI) and Federal Home Loan Bank member Alva State Bank & Trust Company received a $25,000 Joint Opportunities for Building success (JOBS) grant to help establish an REI office in Alva to serve western Oklahoma. Cody Puffinbarger, REI field representative, is heading up the Alva office located at Northwest Technology Center. “We were very pleased to apply for the JOBS grant to help REI establish an office in western Oklahoma,” said Ken Schultz, President, Alva State Bank & Trust. “This was an opportunity to be part of something that we might otherwise not have considered … Continue reading →

Rural Enterprises of Oklahoma, Inc. (REI) has released its 2007 report on activities and impact. “We are pleased to report that 2007 was a very successful year for the organization,” said Tom Seth Smith, President & CEO. “Working with our statewide economic development partners and opening more offices, REI has greatly enhanced the business climate and the lives of Oklahoma citizens.” The financial impact of all REI services totaled $170,424,543 for the year and 6,143 clients were served through the organization’s highly diversified services. “This was a 74 percent increase in financial impact over the previous year and a 19 … Continue reading →

After 22 years as Durant City Manager, Paul Buntz is peddling bike parts on e-Bay. His “retirement” internet business, Blue River Bikes offers parts for the serious bike rider, and Buntz is one of them. The day before this interview, he had peddled 26 miles in one of the strongest, near damaging high-wind days southern Oklahoma had ever experienced. He began riding a bike about five years ago and was always trying to upgrade it, making it lighter. He thought a lot of other bikers were doing the same thing, looking for the same improvements as he was, so starting … Continue reading →

Rural Enterprises of Oklahoma, Inc. (REI) has opened its fifth office at Cameron University in Lawton. Other REI offices are located in Durant, Alva, Oklahoma City and Tulsa. Gilmer J. Capps will be heading up the effort to provide economic development services to the southwestern quadrant of the state. “It has taken a little bit of time, but we are living up to the promise we made to the people in southwestern Oklahoma to make our services more accessible and Gilmer is going to help us do that,” said Tom Seth Smith, REI President & CEO. “We are also very … Continue reading →

Andrea J. Bendele has joined Rural Enterprises of Oklahoma, Inc. (REI) as a loan officer to serve entrepreneurs in Oklahoma City and surrounding areas. A graduate of Oklahoma State University, Bendele is experienced in originating, underwriting, closing and servicing loans. Previously employed with USDA Rural Development, she served as Business and Community Programs Technician which included spreading and analyzing financial statements and working with borrowers and lenders. Previous experience also includes a summer internship at REI five years ago. As an REI loan officer, Bendele will offer all of the lending products of the organization as well as those of … Continue reading →

JRural Enterprises of Oklahoma, Inc. (REI) has announced James Allen Ray as Program Coordinator of the Native American Business Enterprise Center (NABEC) in Tulsa. The Center will provide assistance to minority-owned businesses across the state with a focus on procurement of government contracts. Ray has served in REI’s business development division since 2005. A graduate of Oklahoma State University with a B.S. in Business Administration, Ray is also a Certified Business Retention & Expansion Consultant and a graduate of the Oklahoma Community Institute, Citizens Academy. His work experience includes various service manager positions and he also has experience as a … Continue reading →