FREE BONDING READINESS PROGRAM TO START ON APRIL 14TH

Essex County Executive Joseph N. DiVincenzo, Jr. and the Essex County Office of Small Business Development have partnered with The Surety & Fidelity Association of America (SFAA) to provide a free, bonding readiness program to small, women and minority-owned businesses in New Jersey. The Essex County Bonding Readiness Program is an eight-week, comprehensive business development course including one-on-one counseling sessions with surety bond professionals.
“We are committed to promoting business opportunities for small, women and minority-owned vendors and the Bonding Readiness Program is an example of how we are providing resources and information that will help these vendors start or expand their businesses and compete for government contracts,” DiVincenzo said. “The Bonding Readiness Program is a unique opportunity for vendors to enhance their knowledge of the government procurement process and network with financial and lending institutions that can help them grow their businesses. We are proud of what has been accomplished during the first year of the program and look forward to building on our success,” he added.
The program includes such topics as Business Planning and Management for Construction, Construction Accounting and Financial Management, Banking and Financing for Contractors, Bonding and Insurance for New and Emerging Contractors, Marketing, Estimating and Bidding, Project Management and Field Operations, Claims and Dispute Resolution, and Managing Growth.
The aim of the program is for its graduates to become bondable or to increase their already existing bond limit. Samuel Carradine of the SFAA pointed out the success of the program, noting that thus far $3.8 million of bonding has been approved from the businesses that have attended the bonding sessions.
Ideal candidates for this program should have a minimum of two years of business experience, financial records covering their profit and loss, a history of successful project experiences, and commitment to complete the program.
The program is FREE, but registration is required. To register for the spring session, beginning on Thursday, April 14th, call 973-621-5420 or e-mail bondingreadiness@essexnj.org.
Essex County received a $359,300 from the U.S. Small Business Administration to fund the Bonding Readiness Program. The Bonding Initiative utilized the educational workshops and bond readiness components of SFAA’s Model Contractor Development Program that has been successfully implemented throughout the country.

The Essex County Office of Small Business Development and Affirmative Action has a mission to ensure equal opportunity in the procurement and contracting processes of Essex County through strategic partnerships, outreach, technical assistance, and collaborative partnerships. The Bonding Readiness Program is the latest tool to advance the County’s initiative to make information more accessible and create an additional avenue for small, women and minority owned businesses to obtain the necessary credentials to place themselves in a better position to compete for contracts.

Deborah Collins
Essex County Office of Small Business Development & Affirmative Action
Hall of Records, Room 449A
465 Dr. Martin Luther King, Jr. Blvd.
Newark, NJ 07102
973-631-2010

This release was published on openPR.