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Some of these articles require a one-time sign-in to bizjournals.com. SBA rule changes help small contractors get bonds - Changes that took effect July 25, 2007 are intended to make it easier for small contractors to obtain bonds under the U.S. Small Business Administration's Surety Bond Guarantee Program… How I Did It: Jeffrey Smalls, CEO, Smalls Electrical Construction - Jeffrey Smalls took up the electrician's trade out of high school, and during his four-year apprenticeship developed an expertise in mass transit--a good move in New York City, where the Transit Authority will spend $20 billion on construction over the next two decades. Smalls Electrical Construction, which began 10 years ago as a scrappy company ready to jump in anywhere, is now an $11.6 million business… Subcontractors: Play cards right when trying to deal with surety - Whether working on a public project or on a private, bonded project, subcontractors, suppliers and laborers who are not paid have the right to file a claim against the general contractor's payment bond surety… Construction companies should develop solid surety relationships - Owners of even the most qualified and financially strong construction companies want the security that surety bonds provide to make sure their projects are completed. Because no matter how good things are going for a construction company, a bad turn can sometimes occur, especially in today's volatile economy… Hauling in the profits - There are two important legal bonds in Melissa Tafoya-Cole's trucking and construction business, MRT Heavy Hauling. One of them is marriage. (Tafoya-Cole says she "conned" her husband into working for her.) The second is what's known as a surety bond… Construction company builds on getting a foot in the door - Angelo Perryman has learned to take it where he can get it. As president of Perryman Building & Construction Services, he knows the bigger outfits have an edge in bidding out potential jobs, so he gets his foot in the door any way he can… How Bond Worthy Are You? - Whether your company wants to pursue private or public projects, surety bonding can be a huge asset, if not a requirement. So how does a contractor go about obtaining a bond? SCC Bonding Assistance Program Helping NJ Businesses Thrive SCC Surety Bonding Program Helps Contractors on the Road to Success Myers Construction Finds Success in SCC's Surety Bonding Program (through Surety Bond Associates) Masonry restoration firm taps SBA to spur growth - When Vicki W. Lee bought Old Philadelphia Associates Inc. in 1989, the masonry restoration firm had three employees, $30,000 in annual revenue and was struggling just to stay afloat. Today, the company boasts $5 million in annual revenue, 26 employees and high-profile jobs in Philadelphia, including several at the former Navy Yard… Minority business community questions resource availability - Angelo Perryman has run his West Philadelphia-based construction company since 1998 under the theory that all business owners must exert their best effort and succeed on their own... Surety Bonds Reflect Lack Of Stability - Whether it's part of the normal business cycle or a crisis, no one disagrees that the contract surety bonding industry, like the construction business as a whole, is experiencing tough times... Mentor Program Aims to Build Minority Firms - The GBCA is the Philadelphia chapter of the Associated General Contractors of America, and through their mentor program seeks to improve the local construction industry by pairing members of well-established construction firms with minority-owned construction firms in the Philadelphia area... In Tough Times, Construction Firms Must Be Able to Secure Surety Bonds - Competition for construction projects among contractors has become an issue of survival. The winners will be those who can secure surety bonds. >>END |
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