August 6, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — Environmental Service Professionals, Inc. (OTC: EVSP), firm that provides environmental home inspections, said it has received a $200 million letter of credit from Metropolitan Financial Holdings, which will be pledged to secure a loan in that amount that Environmental Service expects it will receive from a private equity lender.

An 8K regarding the letter of credit was filed on July 30.

Environmental Service said it expects to see net proceeds from the loan of $150.5 million.

The funds will be used to launch the company's Healthy Home Mortgage Program to provide mortgage bankers with a 10-year comprehensive, annual inspection program and a fully certified national standard to mitigate risk and maintain equity across their entire portfolio.

Environmental Service said that this will establish the firm as the first national residential inspection company in the United States.

ESP's 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.

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.

Moreover, the program is designed to create needed local jobs that have a potential minimum life span of 10 years and cannot be outsourced.

California-based Environmental Service Professionals offers various inspection services that include energy/efficiency audits addressing mold and moisture intrusion in commercial and residential buildings.

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