TVC Honors the Surety and Fidelity Association of America with the First Annual "NVBDC Public/Private Partnership Award"

The Veterans Corporation, in partnership with Military.com and the Veterans Business Journal, is pleased to award the “NVBDC Public/Private Partnership Award” to the Surety and Fidelity Association of America (SFAA) for their work in providing Veteran business owners with access to surety bonds.  This award is part Entrepreneurship Week 2007, which is sponsored by the Ewing Marion Kauffman Foundation, Inc.com, and The New York Times.

SFAA is a trade association consisting of companies that collectively write the majority of surety and fidelity bonds in the United States.  These are the bonds that facilitate commerce, assist economic development, and protect consumers, taxpayers, and businesses in a variety of ways.

According to the U.S. Census Bureau, the value of construction put in place, excluding single-family residential construction, was about $550 billion in 2005. However, a contractor’s ability to secure some of that work, especially in the public sector, may be limited if he or she is unable to obtain a bid, performance, or payment bond. TVC has partnered with the SFAA to give Veteran business owners exclusive access to surety bonding.

According to Walt Blackwell, president of TVC, “The value of surety bonds for Veteran Contractors cannot be overstated.  Without the assistance of the SFAA, Veteran contractors would not have the same access to a crucial element of their business.  The Veterans Corporation felt that SFAA’s work should be appreciated and applauded.” President of SFAA, Ms. Lynn Schubert accepted the award.

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