NASBP Producer Members Assist Small and Emerging Contractors in Their Communities
South Dakota
The U.S. Department of Transportation (DOT) has hired a South Dakota firm to host two Disadvantaged Business Enterprise (DBE) business education courses this winter. One of these courses offered in Sioux Falls, South Dakota was broken down into 12 sessions covering a wide variety of business management issues. On January 13, NASBP Member Jason Gusso of Gusso Surety Bonds of Sioux Falls, SD participated in a panel discussion on banking and bonding before the eight DBE participants. Joining Gusso on the panel were a banker, two Small Business Administration representatives (one lending expert and the other a bond program representative), and a U.S. DOT surety bond representative.
Each panelist took a few minutes to introduce themselves and their firms, then the students asked the panel questions. The discussion lasted for an hour and a half and was very lively. “Several very pertinent questions were asked and you could tell that the students already had significant experience and understanding of business and contracting issues. This course is allowing them to build on that knowledge.”
Gusso participated in this panel at the request of the West Central Small Business Transportation Resource Center (SBTRC) that was seeking the assistance of a bond producer. Gusso offered this advice to NASBP Members considering participating in similar programs, “This was an excellent opportunity for NASBP to reach out into the community. I provided several
Surety Information Office (SIO) educational pieces. With the assistance of NASBP and SIO, presenting at this type of meeting is easy and enjoyable.”
Hawaii
NASBP Member, John Bustard of King & Neel of Honolulu, HI, participated on February 21 in a bonding basics for small businesses seminar hosted by the Hawaii DOT (HDOT) and General Contractors Association of Hawaii. Like nearly all states, Hawaii must meet certain DBE participation goals to receive federal funding for projects, so these workshops offer a great opportunity to train small businesses in the basics they need to obtain or increase bonding capacity to ultimately enable them to qualify for these federal projects. Speaking alongside Bustard were another bond producer, a CPA, the HDOT DBE Program Supervisor, and a representative from the U.S. Small Business Administration.
Bustard commented, “The seminar provided valuable insight regarding the bond underwriting process to existing and prospective DBEs and UDBEs, including explanations about the essential roles of the professional producer, construction savvy CPAs, bankers who specialize in the contraction industry, lawyers who are knowledgeable about construction, and the SBA's role with small and emerging contractors.”
For more information on how to participate in seminars assisting small businesses throughout the country, contact Shannon Crawford, Manager of State Relations, at
scrawford@nasbp.org or 202-464-1170.
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NASBP member John Bustard of King & Neel, standing on right, assisted in providing
the Hawaii DOT Workshop for small and emerging contractors in Honolulu, Hawaii.
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