Merchants Bonding Company Introduces Specialty Solutions and SBA Partnership

Merchants Bonding Company Introduces Specialty Solutions and SBA Partnership
foundation_6m7tzd

Merchants Bonding Company Introduces Specialty Solutions and SBA Partnership

New Release (pdf)

Merchants Bonding Company introduces Specialty Solutions, a new underwriting division focused on  providing solutions to small and emerging contractors working to qualify for surety credit. Expanded use  of collateral offerings, funds control and subdivision bonding, as well as a new partnership with the  Small Business Administration (SBA) Surety Bond Guarantee program, are enhancing the ways  Merchants can help its agent partners and their contractor clients. 

“At Merchants, we are experts in common sense surety solutions, and we want to use our expertise to  give a hand-up to quality contractors who are working hard to build the character, capacity and capital  needed to qualify for surety credit,” said Steve Dorenkamp, Vice President of Specialty Solutions. 

A primary focus of Merchants’ Specialty Solutions team will be the SBA Surety Bond Guarantee program.  In partnership with the SBA and Foundation Surety & Insurance Solutions, led by Peter C. Gibbs, former  director of the SBA Office of Surety Guarantees, Merchants will issue, monitor and service bonds for  small and diverse contractors who have the knowledge and skills necessary for success, but might not  yet meet all of the criteria other sureties require. Agents and contractors will benefit from rapid  response times and the knowledge and expertise Mr. Gibbs acquired in his 32 years with the SBA. 

“We are excited about this partnership with Foundation Surety & Insurance Solutions and Peter Gibbs as  Merchants makes its entrance into the SBA marketplace,” says Chief Underwriting Officer David Hewett. “With Peter’s expertise and Merchants’ commitment to first-class experiences, we have a unique  opportunity to positively impact how the surety industry helps small and emerging contractors.” 

For more than 30 years, Peter C. Gibbs helped small and emerging businesses achieve their goals  through programs developed by the SBA. With a strong focus in economic development, creation of  wealth, and job opportunities in low-income geographic areas, Peter made a lasting impact on the U.S.  economy while opening the doors to opportunity and prosperity. He is eager to contribute his expertise  in the private sector and expand access to the programs he successfully launched for the SBA. 

### 

Merchants Bonding Company was founded in Des Moines in 1933 and is led by fourth generation family members.  Merchants Bonding is among the top 15 surety companies in the United States with an A.M. Best Rating of “A”  excellent or better since 1958. Merchants Bonding corporate headquarters is in West Des Moines, Iowa, with  underwriting offices in 17 states across the U.S. 

Foundation Surety & Insurance Solutions specializes in simple, timely and stress-free surety bonds through the SBA  Surety Bond Guarantee program. Foundation’s team of experts are focused on helping qualified small businesses  and contractors get approved for bonds that may otherwise be out of reach in the standard surety market.

For More Information: 

Therese Wielage 

Chief Marketing & Communications Officer twielage@merchantsbonding.com 515-822-1194

0 Comments

Leave a reply

Your email address will not be published. Required fields are marked *

*