Stimulus Loan Creating 'Green' Jobs in Southwest

SCOTTSDALE, Ariz., March 19 /PRNewswire/ -- As President Obama signed the HIRE act, Scottsdale-based REEIS Inc is poised for growth. The SBA loan guarantee program, which provides banks extra security necessary to underwrite loans and free up capital for small businesses needed to begin hiring and expand operation, has allowed REEIS to secure a $350,000 SBA 7A loan from Wells Fargo Bank.

The loan will allow REEIS Inc. to expand and meet increasing demand and will add as many as 25 – 40 permanent "Green Collar" construction jobs. REEIS is also utilizing a portion of the loan to open a division in a new market in Riverside, Calif.

"It was important Wells Fargo understand our business model, the growth prospects of the industry, and feel confident with the management staff's ability to execute the expansion strategy," said Todd Russo, REEIS principal & CEO. "They took the time to work through the closing a business expansion loan in this climate, the loan will allow us to nearly double in size and become more dominant player in the industry."

The company specializes in auditing and retrofitting homes to transform them into more energy efficient structures. REEIS, an acronym for Residential Energy Efficiency Improvement Specialists, has developed an Integrated Solution process assessing construction defects in a home and fixing them.

"Our loans are an investment in the community," said Aaron Holas, Wells Fargo SBA loan executive. "We understand the importance of small business growth and creating jobs, but we look at a company like REEIS and we see a long term business relationship with a great company."

For more information about REEIS and questions about energy efficiency products and policy please visit www.REEISinc.com or contact company representative Steven Rawls ([email protected]).

About REEIS

REEIS, Inc., founded in March 2009, is focused on identifying and executing the most appropriate package of energy efficiency improvements for homeowners. REEIS works closely with local utility companies and municipalities to implement rebate programs and educate the public of the most important energy efficiency steps. Visit www.REEIShome.com.

About Wells Fargo

Wells Fargo & Company is the leading SBA lender in Phoenix originating more than $167 million in loans in 2009; more than the next 3 largest SBA lenders combined. Visit wellsfargo.com.

SOURCE REEIS, Inc.