Webinar: The SBA Surety Bond Guarantee (SBG) Program
Presenter: Frank Dixon, State Director, CTPTAC; Peter C. Gibbs, President, Foundation Surety & Insurance Solutions
Registration Here: https://us02web.zoom.us/webinar/register/WN_ozDJOHKiRoGLlPuXgEk-Fw
Please submit questions prior to the webinar to: email@example.com
Surety bond or contract bonds help small businesses guarantee that the work is performed in accordance with contract terms and that subcontractors, and suppliers, are paid in a timely and accurately manner. Many public and private contracts require surety bonds, which are offered by surety companies. The SBA guarantees surety bonds for certain surety companies, which allows the companies to offer surety bonds to small businesses that might not meet the criteria for other sureties. Join this webinar to learn more about the SBA’s SBG Program and the benefits of this program to your business.
Peter C. Gibbs, President, Foundation Surety & Insurance Solutions
Peter C. Gibbs is the Former Director for the Office of Surety Guarantees (OSG) at the US Small Business Administration (SBA) Headquarters in Washington, DC where he managed a staff of over 25 professionals at the organization’s headquarters and regional offices in Denver, CO and Seattle, WA.
Mr. Gibbs retired from SBA after 32 years of service on August 31, 2021. On October 1, 2021, Mr. Gibbs started Foundation Surety & Insurance Solutions, where he is the President and operates out of Bowie, MD. Foundation is licensed in all 50 states, plus Puerto Rice, US Virgin Islands and Guam. Mr. Gibbs’s want to make Foundation Surety the premier surety bond agency in the US serving small businesses, including the underserved community.
Mr. Gibbs joined OSG in 2005 and is responsible for developing and recommending policies and procedures, guidelines and criteria for evaluating and mitigating all programs and operation efforts, including those governing the regional office. In addition to operations and personnel management, Peter works closely with Surety Companies who provide over $9 billion annually in surety bond credit to small businesses throughout the United States.
Mr. Gibbs is responsible for establishing federal partnerships with some of the largest Surety Companies in the world, including Cincinnati Insurance Company, QBE Insurance, International Fidelity Insurance Company (IFIC), Nationwide Mutual Insurance Company, Market Insurance Company, The Hartford and Liberty Mutual Insurance Company. These partnerships were instrumental in $ billions awarded to small and emerging businesses in the US economy.
Prior to joining OSG, Mr. Gibbs worked in the SBA Investment Division for over 14 years in the Office of New Markets Venture Capital and the Rural Business Investment Program. Beginning as a Senior Program Analyst, he rose through the ranks to Deputy Director and successfully launched the New Markets Venture Capital Program (NMVCP) from inception to fruition; establishing and implementing policies, regulations, and evaluation procedures. The New Markets Venture Capital Program is designed to promote economic development and the creation of wealth and job opportunities in low-income geographic areas and among individuals living in such areas. His primary charge was to evaluate private venture capital management teams to determine their eligibility for $180 million in debenture and grant funding.