Members Assist DC Area Small Contractors

NASBP Members Assist Small and Emerging Businesses in the DC Area

For the first-time in its history, the U.S. Department of Transportation (DOT) Office of Small & Disadvantaged Business Utilization is conducting a Bonding Education Program (BEP) in the nation’s Capital. Stakeholders in the Program view the Washington, DC area as an ideal place to host this Program due to the enormity of the transportation projects being developed in the Washington DC Metropolitan area that offer small and emerging contractors opportunities to participate as subcontractors on large scale infrastructure projects.

This DOT Program, which will be held over a period of six weeks, will assist small businesses in improving their credit, increasing their bonding capacity, and obtaining access to contract financing. NASBP has been involved with U.S. DOT BEP assistance efforts since 2010. The role of the bond producer in these workshops is vital as participating bond producers offer advice and guidance to the contractors, who often are unfamiliar with the surety product and the process of obtaining surety credit. NASBP Small and Emerging Business Committee Chair, Joshua Etemadi of Construction Bonds, Inc.–A Division of Murray Securus, has been a crucial stakeholder in the Capital Region BEP. At the first Workshop held October 17, Etemadi provided relevant, real world examples and clarified points about the bonding process for these small business owners. On November 14, NASBP Member, Edin Zukanovic, also of Constructions Bonds Inc.–A Division of Murray Securus, will teach a module on “Managing Growth” to the DC BEP participants.

The U.S, DOT BEP is a great opportunity for NASBP members to volunteer their time and expertise to assist small and emerging businesses throughout the country. For more information about participating in an upcoming DOT BEP program, contact Shannon Crawford, Manager of State Relations, at 202-464-1170 or scrawford@nasbp.org.