slide1 n.
Download
Skip this Video
Loading SlideShow in 5 Seconds..
News From the SBA: Successes, Initiatives, and Future Plans Joshua Etemadi , Construction Bonds Inc., a division of M PowerPoint Presentation
Download Presentation
News From the SBA: Successes, Initiatives, and Future Plans Joshua Etemadi , Construction Bonds Inc., a division of M

Loading in 2 Seconds...

play fullscreen
1 / 17

News From the SBA: Successes, Initiatives, and Future Plans Joshua Etemadi , Construction Bonds Inc., a division of M - PowerPoint PPT Presentation


  • 97 Views
  • Uploaded on

News From the SBA: Successes, Initiatives, and Future Plans Joshua Etemadi , Construction Bonds Inc., a division of Murray Securus Frank Lalumiere , U.S. Small Business Administration Surety Bond Guarantee Program Michael Williams , CCI Surety. BIOGRAPHIES.

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

PowerPoint Slideshow about 'News From the SBA: Successes, Initiatives, and Future Plans Joshua Etemadi , Construction Bonds Inc., a division of M' - tyson


An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript
slide1

News From the SBA:

Successes, Initiatives, and Future Plans

Joshua Etemadi, Construction Bonds Inc., a division of Murray Securus

Frank Lalumiere, U.S. Small Business Administration Surety Bond Guarantee Program

Michael Williams, CCI Surety

biographies
BIOGRAPHIES

Joshua A. Etemadi joined Construction Bonds Inc., a division of Murray Securusin 2007 where he focuses on helping small contractors significantly increase their bonding capacity. He has been very successful in moving contractors from non-standard market/SBA supported bonds to standard market surety credit in short periods of time. Mr. Etemadi serves on a number of NASBP committees including the Automation and Technology Committee, Government Relations, State Government Affairs, 5-15, and he is vice-chair of the Small Business Committee He is a member of the DC Metropolitan Subcontractors Association and serves on the Leadership, Education, Advocacy and Development (LEAD) committee. Joshua Etemadi can be reached at josh@sbabonds.com

Michael Williams is president of CCI Surety, Inc. (CCI). CCI is a Managing General Underwriting Company with significant levels of underwriting authority for several corporate surety companies. CCI has the ability to underwrite nationwide and it utilizes many different tools to approve hard-to-place, non-standard, challenged contractor accounts. These tools consist of the US SBA Surety Bond Guarantee Program, Collateral, Funds Control, Bond Backs, and Third Party Indemnity. He is also president of North American Construction Services, Inc. (NACS). NACS is a nationwide Surety and non-surety Funds Control/Escrow Company. NACS has handled over 3000 construction projects since its inception on over $3 billion dollars in contract price. NACS works with many of the top fifty Surety companies in the US, Captive companies and Financial Institutions. Michael Williams can be reached at MWilliams@NacsEscrow.com

Frank J. Lalumiere is director of the U.S. Small Business Administration Surety Bond Guarantee Program. He began his Government career in 1978 at the Defense Contract Management Command, Defense Logistics Agency. Prior to assuming his present position at Headquarters SBA in September 2005, he served in a number of operational and staff positions, including Deputy Associate Administrator for Government Contracting & Business Development with SBA, and Chairperson of the Defense Acquisition Regulatory Council Subcommittee on Contract Administration, and Executive Director for Major Program Support at the Defense Contract Management Agency. Frank Lalumiere can be reached at Frank.Lalumiere@sba.gov

slide3

Surety Bond Guarantee Program

Frank J. Lalumiere

7 December 2012

slide4

FY 2012-

Most productive year since 1998…

slide5

FY 2012-

          • More bonds and larger contracts
          • More small businesses and 5 new surety companies
          • 31% increase in bond producers
          • New “Quick App”
slide6

FY 2012 at a glance-

        • 9,500 bonds - 10% increase
        • $4 billion in contract value
        • 1,125 small businesses - 26% increase
        • 21 participating surety companies
slide7

New Surety Participants

FCCI Insurance Company, Sarasota, FL

Indemnity Company of California, Irwine, CA

Developers Surety and Indemnity Company, Irwine, CA

Philadelphia Indemnity Insurance Company, BalaCynwyd, CA

Westchester Fire Insurance Company, Philadelphia, PA

slide8

Participating Surety Companies

Prior Approval: Aegis Security Insurance Company

American Contractors Indemnity Company

American Safety Casualty Insurance Company

Bankers Insurance Company

Berkley Regional Insurance Company

Contractors Bonding & Insurance Company

Developers Surety and Indemnity Company

slide9

Participating Surety Companies

Prior Approval: FCCI Insurance Company

First Net Insurance Company

Great American Insurance Company of New York

Indemnity Company of California

Philadelphia Indemnity Insurance Company

The Guarantee Company of North America USA

slide10

Participating Surety Companies

Prior Approval: The Hartford Fire Insurance Company

West Bend Mutual Insurance Company

slide11

Participating Surety Companies

Preferred: CNA: Western Surety Company

Great American Insurance Company

SureTec Insurance Company

Travelers Casualty and Surety Company of America

U. S. Specialty Insurance Company

slide12

Key Performance Measures

  • Prior Approval Application cycle time – 2 days
  • Claims cycle time – 6 days
slide13

Quick Bond App

  • Used for Initial Contract Amounts of $250,000 or less
  • Combines two forms
      • SBA Form 990 – Guarantee Agreement
      • SBA Form 994 – Application for Guarantee Assistance
  • Required Forms
      • SBA Form 912
      • General Indemnity Agreement
slide14

Quick Bond App, Continued

  • Not Required
    • Business Financial Statements
    • IRS Tax Returns
    • Personal Financial Statement
    • Letters of Reference
    • Credit References/Bank
slide15

Quick Bond App, Continued

  • Exclusions Apply
    • Previous default
    • Work on project has started
    • Warranty/Maintenance period exceeds 12 months
    • Liquidated damages exceeds $250 per day
    • Contract involves asbestos abatement, hazardous waste removal, demolition, or timber sales
slide16

FY 13 Goals

      • Continued growth – bonds
  • – small businesses
      • Refinements to Quick App
      • More surety companies/more bond producers
slide17

SBA Headquarters

www.sba.gov/osg

Frank Lalumiere

Director, OSG

409 3rd Street S.W.

Washington, D.C.

20416

(202) 205-6540

(202) 401-8275