STRATEGIC ALLIANCE TO BRING PROVIDE BONDING OPPORTUNITIES TO SMALL BUSINESSES
Mitchellville, MD(September 4, 2003)-The McRae Firm is proud to announce new services for small
and minority-owned businesses to assist in providing opportunities for growth. The firm now provides new financial services in Underwriting, Surety Bonding and Corporate Operations to expand
contract opportunities for Small, Disadvantaged, Minority, Woman-Owned, Disabled Veteran business enterprises.
The United States Commission of Minority Business Development identified in its 1992 report that “lack of access to capital”
was one of the most “formidable stumbling blocks to the formation and development of minority business.”
The report noted that “lack of bonding availability has often been cited as a primary reason for low minority business participating rates in medium to large scale government construction projects.” The report also stated “the commission believes quick implementation of an action plan to resolve the capital and bonding dilemma for all of the small and minority economic sector is critical to the problem of jobs, growth and competitiveness facing the nation.
“The public and private construction and business industry represents billions of dollars in revenue and
hundreds of thousands of retained and newly created well paying jobs”, said Randy McRae,Esq., CPA.
“Our firm recognizes the lack of bonding also severly limits the the growth and potential of these businesses and can ultimately lead to their failure. We are implementing a Surety Bonding program that provides a level playing field and more contract procurement opportunities for small and minority-owned businesses.”
The McRae Firm provides and manages programs consisting of administration, surety bonding, technical
assistance and training, field monitoring, funds management and financial/loan assistance.
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