WASHINGTON, June 02, 2023 (GLOBE NEWSWIRE) — At the moment, Administrator Isabella Casillas Guzmanhead of the US Small Enterprise Administration (SBA) and the voice in President Biden’s Cupboard for America’s 33.2 million small companies, acknowledges 4 award winners for his or her distinctive work serving to small companies purchase surety bonds, which permit them to acquire federal, state, and personal contracts. These awards acknowledge surety bonds assure corporations for his or her dedication and important contributions to fostering enterprise progress and success. The overall awarded contract worth to small companies in fiscal yr 2022 was over $2 billion.

“Congratulations to this yr’s Surety Assure award winners and to all of the surety corporations who helped us facilitate over $2 billion in contracting awards to American small companies. SBA’s distinctive Surety Bond Program companions are instrumental in serving to companies which have struggled to get bonded within the business market,” mentioned Isabella Casillas Guzman, SBA Administrator. “And our awardees’ dedication to leveling the taking part in discipline for small companies making an attempt to develop by means of federal, state, native, and personal contracts is what fuels our financial progress and creates jobs in communities throughout the nation.”

This yr’s winners are as follows:

  • Surety of the 12 months: Retailers Nationwide Bonding, Inc.
  • Surety Company of the 12 months: Allstar Surety Firm, Inc.
  • Surety Agent of the 12 months: Amanda Quigley of CCI Surety, Inc.
  • Small Enterprise of the 12 months: Jones Masonry Restoration Company

“The Surety Bond Assure Program is a novel public-private partnership that helps small companies safe federal, state, non-public, and native contracts,” mentioned Jermaine B. Perry, Director of SBA’s Workplace of Surety Ensures. “For over 50 years, this system has relied on the robust help of the surety corporations and businesses. I want to commend Retailers Bonding Firm, Allstar Surety Firm, Inc., and Amanda Quigley for his or her glorious efficiency and help to our small enterprise contractors. I additionally wish to congratulate Jones Masonry Restoration Company, a profitable participant of this system, for his or her spectacular progress and resilience.”

Surety of the 12 months award recipient, Retailers Bonding Firm, joined the SBA’s Surety Bond Assure (SBG) Most well-liked Surety Bond program in 2022. Retailers Bonding Firm’s exercise exceeded 500 bond ensures in its first yr of partnership with SBA, helping greater than 125 small and rising companies in partnership with SBA.

“We’re honored to have Retailers Bonding Firm acknowledged for supporting the SBA and creating bonding alternatives for historically underserved, usually deprived companies,” mentioned Larry Taylor, Chairman of the Board and President. “We’re grateful for all of our agent companions who’ve taken benefit of Retailers and our partnership with Peter Gibbs to pursue SBA surety enterprise. It provides Retailers Bonding a novel alternative to supply variety and inclusion in methods with actual impression, and we’re pleased with our rising management on this effort.”

Jeff Sales space, Chief Underwriting Officer for Allstar Surety Firm, Inc., winner of the Surety Company of the 12 months, mentioned, “Allstar Surety want to thank the SBG Program and employees for his or her help and excellent service by means of the years. Allstar values ​​this relationship because it has allowed our workforce to supply surety bond applications to numerous smaller contractors, serving to them develop and change into profitable. Allstar can be very grateful to our surety companions for his or her help in offering surety options to small and rising contractors by means of the SBG Program. Your entire Allstar Surety workforce is honored to obtain this award, and we sit up for many extra years of success with the SBG Program.”

Surety Agent of the 12 months, Amanda Quigley, joined CCI Surety, Inc. in 2016 and has labored with the SBA’s Surety Bond Assure Program since day one. The SBG Program has helped Amanda present bonding for small and rising contractors whereas grooming them for the standard bonding program sooner or later. The SBG Program’s developments and efforts to streamline the bond assure software course of by means of the acceptance of digital signatures and paperwork discount have made it much less cumbersome and thus extra enticing to each brokers and contractors. The SBG Program has been a staple at CCI Surety, Inc. for many years and has helped to supply bonding options for innumerable contractors through the years.

Small Enterprise of the 12 months, Jones Masonry Restoration Company, grew their bonding capability from $595,000 to $4.3 million over 10 years within the Surety Bond Assure Program, supported six jobs within the Harrisburg, PA native financial system in fiscal yr 2022, and actively works with the Metropolis of Philadelphia rehabilitating Metropolis buildings and public colleges. Jones Masonry Company graduated from the Surety Bond Assure Program in June 2022 and is now capable of get hold of bonding with out SBA help.

The SBA Surety Bond Assure program has 40 surety companions, 150 licensed brokers nationwide, and assured greater than 8,000 bonds with a contract worth of over $6 billion in fiscal yr 2022. Extra details about the SBA’s Surety Bond Assure Program is obtainable at www.sba .gov. Questions from surety corporations could also be directed to Jermaine B. Perry, Director of the Workplace of Surety Ensures, at [email protected].

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Concerning the US Small Enterprise Administration
The US Small Enterprise Administration helps energy the American dream of enterprise possession. As the one go-to useful resource and voice for small companies backed by the energy of the federal authorities, the SBA empowers entrepreneurs and small enterprise house owners with the sources and help they should begin, develop, develop their companies, or get better from a declared catastrophe. It delivers companies by means of an in depth community of SBA discipline workplaces and partnerships with private and non-private organizations. To study extra, go to www.sba.gov.


        

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