BORDENTOWN, N.J.--()--The Minority Business Development Institute (MBDI), a not-for-profit organization dedicated to helping socially and economically challenged businesses prosper through preparedness to obtain surety credit, announced a new national campaign focused on helping emerging construction businesses succeed in today’s challenging construction environment. The campaign coincides with a recent partnership with the Surety & Fidelity Association of America (SFAA) to jointly develop and implement initiatives designed to assist minority-owned construction businesses qualify for and access bonding through education and advisory services.
“There are still thousands of MWBEs (Minority and Women-owned Business Enterprises) and small construction businesses ready to get back to work, yet unable to secure a contract”
“We are honored and delighted to be partners with MBDI,” said SFAA President Lynn Schubert. “The SFAA has partnered with many organizations around the country, but MBDI is one that gets it right. This partnership will allow the surety industry to expand its existing efforts, including the SFAA Model Contractor Development Program®, to reach more contractors.”
“There are still thousands of MWBEs (Minority and Women-owned Business Enterprises) and small construction businesses ready to get back to work, yet unable to secure a contract,” said David Cayemitte, President and Founder of MBDI. “Since they traditionally have a difficult time competing for public projects due to the challenge related to securing required bonding, MBDI has developed a solid program to help with this critical issue. Through our campaign and partnership with SFAA, we will continue to advise these businesses to make them surety bond-ready – greatly improving their future contract prospects and, in turn, creating job opportunities in their local communities.”
The campaign will focus on the following:
- Creating a greater pool of bondable small businesses, including women, minority and local contractors, who would be prequalified and better positioned to bid for local and Federal Government agency projects
- Building long-term sustainable growth for these small businesses
- The increased need to put MWBE contractors to work on local projects
These issues came to light in the aftermath of Hurricane Katrina and motivated David Cayemitte to found MBDI. Their bonding readiness programs have proven successful and through MBDI team’s contract with DASNY (Dormitory Authority of the State of New York) they have helped achieve $36 million worth of bonding. However, the challenge is on-going – especially in the wake of recent infrastructure devastation caused by Hurricane Sandy.
Through this campaign using education, one-on-one consulting, training and advocacy, MBDI will continue positioning disenfranchised minority, veteran and women-owned construction businesses nationally for sustainable economic growth.
MBDI is a not-for-profit organization that focuses on positioning socially and economically disadvantaged construction industry businesses for growth. They do this through strategic consulting, education and training in the areas of infrastructure development, operational efficiency and financial guidance. For more information about MBDI, visit www.minoritybdi.org.