WASHINGTON – Today, Administrator Isabel Casillas Guzman, head of the U.S. Small Business Administration (SBA) and the voice in President Biden’s cabinet for America’s more than 33 million small businesses, announced the Office of Surety Guarantees award winners recognized for their continued work to help small contracting businesses acquire surety bonds.
Guzman commended the award winners, stating, "SBA’s surety guarantee partners play a crucial role in helping the SBA facilitate billions of contracting dollars to America’s small businesses, and our 2024 Surety Guarantee award winners are delivering above and beyond to advance our economy."
The recipients of the awards included The Gray Casualty & Surety Company as the Surety of the Year, Pinnacle Surety & Insurance Services as the Surety Agency of the Year, Kenneth C. Turner of KOG International, Inc. as the Surety Agent of the Year, and IMEC Group, LLC as the Small Business of the Year.
Michael D. Pitre, Chief Operating Officer of Gray Surety, expressed gratitude, saying, "Gray Surety is honored to be recognized by the SBA for our shared work in creating bonding opportunities for deserving businesses."
Rachelle Rheault, Vice President of Alliant, the parent company of Pinnacle Surety & Insurance Services, stated, “We are honored to receive the Surety Agency of the Year award. At Alliant, we are committed to empowering women, veterans, minorities, and all small and emerging contractors."
Kenneth C. Turner of KOG International, Inc., recipient of the Surety Agent of the Year award, will be presented with the award during SBA’s National Small Business Week in April.
IMEC Group, LLC, the Small Business of the Year, demonstrated remarkable growth in their bonding capacity over the years, as stated by the company, "IMEC Group, LLC grew its bonding capacity from $213,000 to over $6 million over ten years in the Surety Bond Guarantee Program."
The SBA Surety Bond Guarantee program has been instrumental in supporting small businesses, with 38 active surety partners represented by over 100 authorized agents nationwide, guaranteeing more than 9,000 bonds with a contract value of over $7.3 billion in fiscal year 2023.
For more information about the SBA’s Surety Bond Guarantee Program, visit www.sba.gov.
