SBA Recognizes the Office of Surety Guarantees FY23 Award Winners
March 28 2024 - 5:00PM
Today,
Administrator Isabel Casillas Guzman, head of the
U.S. Small Business Administration (SBA) and the voice in
President Biden’s cabinet for America’s more than 33 million small
businesses, announced the Office of Surety Guarantees award winners
recognized for their continued work to help small contracting
businesses acquire surety bonds.
“SBA’s surety guarantee partners play a crucial role in helping
the SBA facilitate billions of contracting dollars to America’s
small businesses, and our 2024 Surety Guarantee award winners are
delivering above and beyond to advance our economy,” said
Administrator Guzman. “As part of the Biden-Harris
Administration’s Investing in America agenda, there are contract
opportunities for small businesses to rebuild infrastructure,
manufacturing and supply chains, and the clean energy economy of
the future. The SBA, along with these incredible surety companies,
are helping them leverage these revenue growth opportunities to
create jobs and strengthen our communities.”
Three SBA surety bond partners were selected to receive the
Surety of the Year, Surety Agency of the Year, and Surety Agent of
the Year awards based on their participation, activity, claims,
recovery, and their commitment to helping small businesses obtain
contracts with both government and private sector entities. One
small business was also selected to receive an award based on its
growth since entering the Surety Bond Guarantee (SBG) Program and
its work supporting the local economy.
The Gray Casualty & Surety Company was recognized as Surety
of the Year. Pinnacle Surety & Insurance Services was
honored as Surety Agency of the Year, and Kenneth C. Turner of KOG
International, Inc. was chosen as Surety Agent of the Year. IMEC
Group, Inc., was honored as Small Business of the Year.
Surety of the Year award recipient The Gray Casualty
& Surety Company joined the SBA’s Surety Bond Guarantee Prior
Approval Surety Bond program in 2017. Gray Casualty ramped up
its SBA participation in FY 2023, exceeding its prior participation
by more than 80%.
"Gray Surety is honored to be recognized by the SBA for our
shared work in creating bonding opportunities for deserving
businesses. We share this honor with our dedicated agency partners
who have embraced the tools provided by the SBA’s Office of Surety
Guarantees,” said Michael D. Pitre, Gray Surety Chief Operating
Officer.
Surety Agency of the Year award recipient Pinnacle
Surety & Insurance Services is an Alliant company that has been
an SBA-authorized agency since 2011. Pinnacle’s participation in
the SBG Program last year helped their SBA-participating small
business clients retain more than 170 employees, nearly doubling
the SBA-guaranteed bonds issued to those clients in just one
year.
“We are honored to receive the Surety Agency of the Year award.
At Alliant, we are committed to empowering women, veterans,
minorities, and all small and emerging contractors. Through our
partnership with the SBA, we have been able to provide increased
bonding programs that enable our clients to achieve their business
goals. Alliant is committed to driving positive change in our
communities and fostering inclusive economic opportunities for
all,” said Rachelle Rheault, Alliant Vice President.
Surety Agent of the Year award recipient Kenneth C.
Turner of KOG International, Inc., has been active in the surety
industry since 1996. He handles contractors throughout the
Mid-Atlantic Region and beyond with numerous sureties. He has
developed an extensive network of surety contacts and, with years
of expertise, brings these resources together to better serve his
clients. Turner placed his first client in the SBA’s SBG
Program in 2003 and continues to actively promote SBA-backed surety
bonds to numerous small businesses today. Turner will be the
first recipient of this award presented during SBA’s
National Small Business Week in April.
Small Business of the Year award recipient IMEC Group,
LLC grew its bonding capacity from $213,000 to over $6 million over
ten years in the Surety Bond Guarantee Program. IMEC Group is a
minority-owned, 8(a) certified firm supporting the local economy in
the Columbia, MD area and across the Mid-Atlantic states. IMEC
Group continues to utilize the SBG Program to support its bonded
projects, allowing the small business to grow and continue to
access new revenue streams through bonded projects.
The SBA Surety Bond Guarantee program has 38 active surety
partners represented by over 100 authorized agents nationwide and
guaranteed more than 9,000 bonds with a contract value of over $7.3
billion in fiscal year 2023. More information about the SBA’s
Surety Bond Guarantee Program is available
at www.sba.gov.
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Co-sponsorship Authorization # 24-1-C. SBA’s participation in
this Cosponsored Activity is not an endorsement of the views,
opinions, products or services of any Cosponsor or other person or
entity. All SBA programs and services are extended to the public on
a nondiscriminatory basis.
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About National Small Business Week In the spirit of
National Small Business Week, we celebrate the unprecedented growth
of entrepreneurship in the United States, marked by 16.5 million
new business applications since the Biden-Harris Administration
took office. This surge highlights the dynamism and innovation that
America’s entrepreneurs bring to our local communities. The SBA
will continue to champion the endeavors of small businesses and the
vital role they play in driving economic prosperity across the
nation.
About SCORE SCORE, the nation’s largest network of
volunteer, expert business mentors, is dedicated to helping small
businesses get off the ground, grow and achieve their goals. Since
1964, SCORE has provided education and mentorship to more than 11
million entrepreneurs. SCORE is a 501(c)(3) nonprofit organization
and a resource partner of the U.S. Small Business Administration
(SBA).
About the U.S. Small Business Administration The
U.S. Small Business Administration helps power the American dream
of business ownership. 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. To learn more,
visit www.sba.gov.
Christine Saah-Nazer
U.S. Small Business Administration
202-756-0304
Christine.saahnazer@sba.gov
Rebecca Galanti
U.S. Small Business Administration
202-756-0304
rebecca.galanti@sba.gov