Description
For small business contractors looking to secure larger projects, surety bonds are a critical requirement. A surety bond is a financial guarantee that ensures a contractor will fulfill their contractual obligations. Many government contracts and large private-sector projects require these bonds to protect customers from financial loss. However, securing a surety bond can be a challenge for small businesses due to stringent requirements, financial hurdles, and limited bonding capacity.
This course will provide step-by-step guidance on how to access SBA Surety Bonds—a powerful tool designed to help small businesses qualify for and obtain the bonding they need to compete for lucrative contracts.
You will learn:
- Why surety bonds are crucial for industries like construction and government contracting
- How the SBA Surety Bond Guarantee Program works and its benefits for small businesses
- The step-by-step process to obtain a surety bond and increase your bonding capacity
- Expert tips to overcome common barriers and streamline the application process
- Strategies to improve eligibility and maximize business opportunities
Don’t miss this opportunity to enhance your business potential with SBA-backed surety bonds and gain the competitive edge needed to secure larger projects!
Target Audience:
- Small business owners and contractors looking to grow their businesses and win larger projects
- Startups in need of financing and bond support to scale
- Entrepreneurs interested in understanding how SBA programs can help with bonding challenges
Meet Your Instructor:
PETER GIBBS, President and CEO, Foundation Surety & Insurance Solutions, LLC
Peter Gibbs retired from the SBA after 32 years of service in 2021 and soon founded Foundation Surety & Insurance Solutions, LLC, where he now serves as President and CEO in Bowie, MD. His mission is to establish the firm as the leading surety bond agency for small and underserved businesses in the U.S. As the only minority-owned surety licensed in all 50 states under the SBA Surety Bond Guarantee Program, Foundation Surety has already assisted over 400 businesses with nearly $1 billion in contract value.
Before founding his company, Gibbs served as Director of the Office of Surety Guarantees at the SBA Headquarters in Washington, DC, where he managed teams in multiple regional offices and forged key partnerships with major surety companies. Earlier, he spent 14 years in the SBA Investment Division, rising to Deputy Director and launching the New Markets Venture Capital Program to stimulate economic growth in low-income areas.
A dedicated military veteran, Gibbs served 27 years in the U.S. Army, retiring as a Lieutenant Colonel, and was inducted into the National ROTC Hall of Fame. He holds a Bachelor’s degree in Accounting from Central State University and a Master of Entrepreneurship from Western Carolina University. Born in Trinidad and Tobago and raised in Brooklyn, NY, he now lives in Bowie with his wife, Nikeya, and their five daughters.
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