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 because its not part of customary banking services but this is a project that we need and it will make a significant impact on our economy.
The JOBS program is an economic development funding program of the Federal Home Loan Bank that assists bank members in promoting employment growth in their communities.
The expansion of REI services into western Oklahoma will begin in the northwest quadrant. This represents a 16-county area primarily north of I-40 and west of I-35. A physical presence in this sector of the state will increase REIs ability to offer programs that will make an impact on the economy, develop partnerships with community leaders, local lenders and employers in the area.
Western Oklahoma entrepreneurs will now have easy access to REI services including business financing, tax credit programs, international trade assistance, Womens Business Center services and homebuyer assistance programs to help working families achieve homeownership.
We are pleased that REI will be more accessible to the people in western Oklahoma and that it will support existing ag-related industries by creating a stronger business environment and job opportunities for our residents, said Congressman Frank D. Lucas. It was also great to see Alva State Bank & Trust, REI and FHLB partner in this effort. Its a good example of how federal and local entities can work together to foster economic development.
REI is an economic development firm with offices in four locations, Durant (corporate headquarters), Alva, Oklahoma City and Tulsa.
REI field representative Cody Puffinbarger may be reached by calling 580-748-1375.