SBA Recognizes Top Active Surety Partners
Surety Bond Guarantee Program Surpasses $7 Billion in Bond Guarantees
WASHINGTON – The U.S. Small Business Administration (SBA) announced today its most active surety companies and agencies for fiscal year (FY) 2020, which contributed to increases in the Surety Bond Guarantee (SBG) Program’s activity.
“In FY2020, we surpassed $7 billion in bond guarantees because of the mutual trust and commitment between the SBA and the surety industry to assist small businesses,” said Peter C. Gibbs, Director of the Office of Surety Guarantees. “This list of active surety partners is very special to the Office of Surety Guarantees because it is the 50th Anniversary for the Surety Bond Guarantee Program.”
The SBA’s Surety Bond Guarantee Program, in direct partnership with surety companies and their agents, provides surety bond guarantees for small businesses on federal, state, local, and private projects. Commercial construction, service, and supply contracts and subcontracts are eligible if the contract requires a surety bond.
In FY2020, the SBA’s guaranteed bids and final bonds were more than $7.1 billion in total contract value. With the work of the SBA’s top-performing surety partners and bond agencies, over 1,800 small businesses were assisted and over 30,000 jobs were supported.
The top-performing surety partners for FY2020 are:
- American Contractors Indemnity Company, Calif.
- United States Fire Insurance Company, Pa.
- Travelers Casualty & Surety Company, Conn.
- S. Specialty Insurance Company, Calif.
- Markel Insurance Company, Texas
- United States Surety Company, Md.
- West Bend Mutual Insurance Company, Wis.
- Contractors Bonding and Insurance Company, Wash.
- The Ohio Casualty Insurance Company, Pa.
- Western National Mutual Insurance Company, Ariz.
The top-performing bond agencies for FY2020 are:
- CCI Surety, Inc., Minn.
- KOG International, Inc., N.J.
- Nielson, Hoover and Company, Fla.
- Preferred Bonding & Insurance Services, Calif.
- Valley Surety Insurance Agency, Calif.
- The Fedeli Group, Ohio
- Brunswick Companies, Ohio
- Thomas Sauer Bond Agency, Colo.
- Pinnacle Surety & Insurance Services, Inc., Calif.
- Baldwin Cox Allen, Texas
The standing of each surety partner and agent was determined by the number of bond guarantees they wrote through the SBG Program. The mission of the SBA’s Office of Surety Guarantees is to provide and manage surety bond guarantees for qualified small and emerging businesses in direct partnership with surety companies. SBA helps small businesses by guaranteeing bid, performance, and payment bonds issued by participating surety companies for contracts up to $6.5 million.
SBA can guarantee a bond for a contract up to $10 million if a federal contracting officer certifies that SBA’s guarantee is necessary for the small business to obtain bonding. SBA also guarantees bonds under its QuickApp for contracts up to $400,000 with limited paperwork, providing approvals within hours.