PALM SPRINGS, Calif., Oct. 25 /PRNewswire-FirstCall/ -- Environmental Service Professionals, Inc. ("ESP") (Pink Sheeks: EVSP), an innovator in environmental home inspections, announced today that the Company has closed a debt financing in the amount of $200 million dollars from a private lender. Proceeds of the financing will be used to launch the Company's Healthy Home Mortgage program designed to create 60,000 jobs for veterans and disabled veterans and provide affordable, environmentally safe and efficient homes for American families. This Receipt of Funds followed a $200 million USD letter of credit from Metropolitan Financial Holdings, filed as an 8K on July 30, 2010 and announced on August 5, 2010.
ESP's Chairman and CEO, Edward L. Torres, stated, "These funds will be used first and foremost to create career training opportunities preparing thousands of Veterans and Disabled Veterans to participate in the Company's Healthy Home Mortgage program, which is dedicated to creating affordable, environmentally safe and efficient homes for hard-working American families. The program is designed for a minimum life span of 10 years and will create needed local jobs that cannot be outsourced. We expect to train and hire over 50,000 Veterans as inspectors and over 10,000 Disabled Veterans as Customer Service Representatives to support the inspectors and customers of the program."
The ESP program consolidates protocols for energy, moisture mold and other indoor air quality programs to allow one inspector to inspect a home on several different protocol levels at the same time, reducing the cost for consumers and stakeholders alike. The Company has been developing this over several years and has earned the cooperation of government agencies, major corporations and insurance companies. The resulting 10-year comprehensive, annual inspection program provides a fully certified national standard to mitigate risk and maintain equity across their entire portfolio, making ESP the first National Residential Inspection Company in the United States.
The annual inspection program assures that health, structural and energy issues are caught early, minimizing repair costs, mitigating risk and maintaining equity for the insurance, mortgage banking, building, real estate, and property management industries. Inspected homes receive the Healthy Green Living Certification seal, showing they have met comprehensive national health, structural and energy standards.
About Environmental Service Professionals, Inc.
ESP (EVSP.PK) offers various inspection services that include energy/efficiency audits addressing mold and moisture intrusion that can have an acute and chronic negative impact on the indoor air quality of commercial and residential buildings. ESP has embarked on a strategy to acquire businesses dealing with environmental issues and resolving environmentally sensitive problems. It has completed four acquisitions and is in various stages of discussion with additional companies that management believes are a good philosophical, operational and economic fit with ESP. For additional information, please visit: www.evsp.com
ESP, through its various wholly owned subsidiaries, has developed a standardized training, certification, inspection, and results reporting analysis program, which forms the foundation for the Company's "suite of services." These services taken together comprise the Certified Environmental Home Inspector™ ("CEHI") program. This program is available to active duty U.S. military and veterans and will meet all required Veterans Affairs requirements. Our Safeguard business unit will provide the EcoCheck Inspection™ as part of the pro-active comprehensive subscription based annual maintenance process called the Healthy Living Maintenance Program™ ("HLMP"), part of ESP's Healthy Home Mortgage Program™ ("HHMP"). Every 12 months a new EcoCheck Inspection™ is conducted. The HLMP is an all inclusive multi-disciplined inspection process focused on adding value to a property by reducing liabilities and mitigating risks for the insurance, mortgage banking, building, real estate, and property management industries by reducing claims, instilling confidence in property safety and efficiency while promoting a positive green image to both residential and commercial clients.
Visit http://www.evsp.com for complete information on the ESP family of services offered and investment information.
Forward-Looking Statements This document contains forward-looking statements that are subject to a number of risks, assumptions and uncertainties that could cause the Company's actual results to differ materially from those projected. These risks, assumptions and uncertainties include: the ability of the Company to raise capital, the ability to compete effectively in a rapidly evolving and price-competitive marketplace, changes in the environmental sector and changes in business strategy, as well as other risks referenced from time to time in the Company's filings with the Securities and Exchange Commission. See www.SEC.gov for additional information about the company.
SOURCE Environmental Service Professionals Inc.