Application period opens July 15 for contractor bonding program
The Delaware Office of Supplier Diversity recently announced the launch of a Statewide Bonding Pilot Program, a targeted initiative designed to support small and diverse contractors in securing the bonding capacity needed to grow and compete for larger construction opportunities.
Through this pilot, the state will sponsor up to 30 qualified contractors to participate in a structured program that delivers both education and practical bonding support.
“I’m pleased to be able to offer this pilot program, because it can be challenging for smaller firms to get the amount of bonding necessary to bid on larger construction projects,” said OSD Director Shavonne White. “I’m passionate about not only certifying businesses but also providing them with additional supports to help them scale and grow their business.”
This effort is made possible in partnership with Embrace Partners and the Minority Business Development Institute. Embrace Partners, a licensed surety bonding company, will provide expert review and guidance to help firms achieve bonding eligibility and long-term financial sustainability. MBDI is a nationally recognized nonprofit that will deliver a customized curriculum focused on building the companies’ operational and financial readiness. Businesses will receive no-cost access to training, technical assistance, and a pathway to bond readiness, which are key components in winning public and private construction work across Delaware and beyond.
“Getting bond-ready shouldn’t be a barrier to growth; it should be a gateway,” said Michael Clay, chief of procurement at Embrace Partners. “The SuretyReady program is an innovative solution that empowers subcontractors in the construction industry to become bondable contractors upon successful completion of an eight-course, merit-based training program administered by Embrace Partners."
Interested businesses must complete an application to be considered for the pilot. Applications will be accepted from Tuesday, July 15 through Friday, Aug. 29; go to applications.tcgprograms.com/251805679422967 to apply.
“From day one, Gov. Meyer and I made it clear that supplier diversity is a high priority, and this Bonding Pilot Program is an important first step,” said DSB Director CJ Bell. “Thanks to Director White’s leadership, we’re removing a major barrier of growth. This initiative not only empowers individual businesses, but strengthens Delaware’s economy as a whole.” The Office of Supplier Diversity is part of the Delaware Division of Small Business.
