A family fun park, eye care service and home health agency all knew exactly where to go when they needed financing the second-time-around to expand their businesses. Rural Enterprises of Oklahoma, Inc. (REI) provided financial assistance the first time for capital so when it was time to expand their businesses they again called on REI.
“There’s nothing we like better than hearing from our clients a second time, when they have a need to expand,” Tom Seth Smith, President/CEO said. “We value the confidence our repeat clients have in us to help them to expand their businesses and create jobs.”
Five years ago, REI in partnership with 1st Bank & Trust, assisted Andy Alligator’s Fun Park in Norman with financing through the SBA 504 lending program for real estate, construction, equipment and other business needs. The Fun Park was launched and families began enjoying mini bowling, bumper cars, redemption games, miniature golf course, batting cages, go carts and other wholesome entertainment. It didn’t take long for corporations to see the uniqueness and great atmosphere of the Fun Park for special events. Now it’s time to add a water park and the business is again receiving assistance from REI in partnership with 1st Bank & Trust. When the water park is complete, families will have even more fun on water slides, a lazy river, a child’s play structure and a variety of concessions.
An eye clinic in Tecumseh needed to purchase a building to expand services and REI had just the right combination of lending programs to move the business forward. When the eye clinic needed to expand again, REI was the lender of choice. This time, the eye clinic made renovations and purchased a system for maintaining electronic medical records.
REI assisted a private-pay homecare business with start-up capital utilizing the SBA microloan program. The business now needs machinery and equipment to serve Medicare and Medicaid clients. REI is utilizing a direct lending program to assist in the expansion.
“Every business owner will tell you that repeat customers are the best kind because this speaks volumes about your products, capabilities and personal service and REI has many repeat clients,” said Karen James, REI board chair. “And, it speaks well of REI’s leadership and economic development professionals who put such a high priority on meeting the needs of Oklahoma entrepreneurs. I’m proud to serve on the board of directors of such a high performance organization.”