Empowering Small Contractors: MBDI's E-Learning Program Launch
MBDI Launches Free Surety Bonding E-Learning Program
The Minority Business Development Institute (MBDI) is thrilled to introduce an innovative Surety Bonding E-Learning Program, known as GoSurety. This program is tailored to empower small contractors by providing essential knowledge and skills to help them secure bonding capacity of up to $1 million. Sponsored by Flagstar Bank, this initiative aims to equip 100 small businesses with the tools and financial backing necessary to thrive in the competitive construction industry.
Importance of Surety Bonding for Small Contractors
Many small businesses face significant challenges that hinder their ability to compete for larger contracting opportunities. Factors such as the lack of bonding, restricted access to capital, and high insurance costs can create barriers that are difficult to overcome. MBDI's Online Self-Paced E-Learning Program addresses these obstacles directly, allowing small contractors to take crucial steps towards obtaining surety bonding, a vital requirement for securing construction contracts.
According to David Cayemitte, CEO of MBDI, "Eliminating barriers to bonding, capital, and affordable insurance is crucial for small contractors to thrive. At MBDI, we are dedicated to providing small, minority, and women-owned businesses with real opportunities to compete in the marketplace." This program is designed to empower contractors by providing them with the education and financial tools needed to secure bonding and grow their enterprises.
Program Benefits and Support
Thanks to the generous support from Flagstar Bank, participants in the GoSurety program will gain invaluable access to a variety of resources:
Comprehensive Learning Curriculum
The program offers a comprehensive, merit-based online learning curriculum that is specifically tailored to the needs of small contractors. This curriculum equips participants with knowledge essential for navigating the complexities of bonding processes.
Guidance in Securing Bonding
Moreover, participants will receive hands-on guidance to help them secure up to $1 million in bonding through partnerships with Embrace Partners. This support is critical for contractors looking to qualify for larger projects and, consequently, contribute to economic growth and job creation.
Creating New Opportunities
Beverly Meek, CRA Director of Flagstar Bank, stated that the initiative is about investing in economic empowerment. "This initiative will help 100 small contractors strengthen their businesses through training and resources, leading to potentially new project opportunities and job growth across the city," she emphasized.
Transforming the Business Landscape
Through GoSurety, MBDI and Flagstar Bank are working collaboratively to transform the landscape for small and underrepresented businesses. The program aims to provide these businesses with the necessary financial tools and industry knowledge needed for sustainable success.
Liz Duncan-Gilmour, Chief Impact Officer of MBDI, noted, "This initiative is a game-changer. We are providing small contractors with a clear, actionable pathway to securing bonding, gaining access to larger contracts, and ultimately scaling their businesses in unprecedented ways." With MBDI's commitment, small contractors can look forward to a brighter future.
How to Get Involved
For those interested in participating in the GoSurety program or seeking more information about the curriculum, visit minoritybdi.org. You may also contact Jose De La Cruz for further assistance.
Contact Information
Media Contact:
Liz Duncan-Gilmour
609 - 460 - 3703
info@minoritybdi.org
www.minoritybdi.org
About MBDI
MBDI is dedicated to empowering small and emerging businesses through education, mentorship, and financial tools. By implementing programs like the Surety Bonding E-Learning Program, they assist businesses in overcoming barriers to achieve long-term success.
About Flagstar Bank
Flagstar Bank is an engaged consumer and commercial bank, focused on building relationships that guide clients through their financial journeys effectively.
Frequently Asked Questions
What is the GoSurety program?
The GoSurety program is a free Surety Bonding E-Learning Program designed to educate small contractors on how to secure surety bonding and enhance their business effectiveness.
Who is sponsoring the GoSurety program?
The program is sponsored by Flagstar Bank, which supports the initiative to empower small businesses through financial resources and training.
How can participants benefit from the program?
Participants will gain access to essential educational resources, hands-on guidance for securing bonding, and new opportunities for larger projects, fostering economic growth.
Can minority-owned businesses participate in this program?
Yes, the program specifically aims to assist small, minority, and women-owned businesses by providing them with the necessary tools and education.
How can I enroll in the GoSurety program?
Interested individuals can enroll in the program by visiting minoritybdi.org for more information.
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