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SBA Recognizes Most Notable Surety Organizations of 2019; Peter Gribbs Quoted

2 mins read

The U.S. Small Business Administration (SBA) has announced its most active surety companies and agencies for fiscal year 2019, the company announced on Thursday. The awardees contributed to increases in the Surety Bond Guarantee (SBG) Program's activity.

"The SBA is very fortunate to partner with sureties and agents with a shared vision of assisting small and emerging businesses," said Peter C. Gibbs, Director, SBA's Office of Surety Guarantees. "Every year I am amazed by the level of commitment from our partners to increase opportunities for the small business community."

The Surety Bond Guarantee Program has provided surety bond guarantees for small businesses on federal, state, local and private projects. Additionally, commercial construction, service and supply contracts and subcontracts are eligible if the contract requires a surety bond.

The SBA's guaranteed bid and final bonds were more than $6.4 billion in total contract value.  With the work of the SBA's top-performing surety partners and bond agencies, over 1,900 small businesses were assisted and over 30,000 jobs were supported.

The standing of each surety partner and agent was determined by the number of bond guarantees they wrote through the SBG Program.

SBA has announced the top five top-performing surety partners for 2019, including American Contractors Indemnity Company, United States Fire Insurance Company, U. S. Specialty Insurance Company, Travelers Casualty & Surety Company and United States Surety Company.

The top-performing bond agencies for 2019 feature CI Surety, Inc., KOG International, Inc., Nielson, Hoover and Company,  The Fedeli Group, Valley Surety Insurance Agency. 

About the U.S. Small Business Administration

The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations.

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