Merchants’ Commitment to Small & Emerging Contractors Recognized

December 6, 2023

For the second consecutive year, Merchants Bonding Company was named as one of the top-performing surety company partners in the Small Business Administration’s Surety Bond Guarantee (SBG) Program. Merchants is proud to be recognized for our ongoing commitment to helping small and emerging contractors receive the critical backing needed to compete for federal, state, and local contracts. Since its inception in 2021, Merchants’ Specialty Solutions division has grown to become the second largest surety provider for the SBA.

Partners in Success

Specialty Solutions partners with Peter Gibbs, president of Foundation Surety & Insurance Solutions, on this business. As the former director of the SBG Program, Peter’s knowledge of the system, and how to navigate it, is invaluable to contractors seeking surety credit.

Record Results

With the assistance of the SBG Program, and its partners like Merchants, small businesses bonded more than $2.2 billion in contracts nationwide in 2023, the best performance in 25 years according to the director of the Office of Surety Guarantees. As many small and emerging contractors are minority or woman-owned, Merchants sees this work as an important way to put our value of inclusivity into practice.

For more information on Merchants’ Specialty Solutions team and the SBA Surety Bond Guarantee Program visit our webpage. 

Click HERE for the full news release.