MBDI Launches Free Surety Bonding E-Learning Program for NYC Small Businesses, Powered by Flagstar Bank

NEW YORK, April 10, 2025 /PRNewswire/ -- The Minority Business Development Institute (MBDI) is excited to announce the launch of a groundbreaking, completely free Surety Bonding E-Learning Program, GoSurety, which is designed to empower small contractors across New York City's five boroughs.  GoSurety will provide contractors with the essential knowledge and resources needed to qualify for surety bonding capacity of up to $1 million. Sponsored by Flagstar Bank, 100 participating businesses will develop the tools and financial backing to become stronger, more competitive and profitable businesses. MBDI's Bonding Program will support small, minority, and women owned construction contractors throughout the five Boroughs of New York City.

GoSurety Empowers Emerging Contractors Through Education.

Many small businesses are excluded from larger contracting opportunities due to the lack of bonding, limited access to capital, and high insurance costs. MBDI's Online Self-Paced E-Learning Program is specifically tailored to help small contractors navigate these obstacles and take the critical first step toward securing surety bonding—a key requirement for winning construction contracts.

"Eliminating barriers to bonding, capital, and affordable insurance is essential for small contractors to succeed. At MBDI, we are committed to ensuring that small, minority, and women-owned businesses have a real opportunity to compete," said David Cayemitte, CEO of MBDI. "This initiative will help 100 contractors 'get in the game' by providing them with the education and financial tools they need to secure bonding and grow their businesses."

With Flagstar's generous support, participants in this program will gain access to:

• A comprehensive, merit-based online learning curriculum tailored to small contractors.
• Hands-on guidance in securing up to $1 million in bonding through Embrace Partners.
• The opportunity to qualify for larger projects, fostering economic growth and job creation.

"Flagstar is committed to investing in economic empowerment and breaking down financial barriers for small businesses," said Beverly Meek, FVP, CRA Director of Flagstar Bank. "This initiative will not only assist 100 small contractors in strengthening their businesses through access to knowledge-based training and resources, but will also create a ripple effect—potentially generating new project opportunities and fostering job growth across New York City."

Through this program, MBDI and Flagstar Bank are transforming the landscape for small and underrepresented businesses by equipping them with the financial tools and industry knowledge necessary for long-term success.

"This initiative is a game-changer," said Liz Duncan-Gilmour, Chief Impact Officer of MBDI. "We are providing small contractors with a clear, actionable pathway to securing bonding, gaining access to larger contracts, and ultimately scaling their businesses in a way that has never been done before."

For more information about the program and to enroll in the training, visit minoritybdi.org or contact Jose De La Cruz at [email protected].

Media Contact:

Liz Duncan-Gilmour
609 - 460 - 3703
[email protected]
www.minoritybdi.org

About MBDI

The Minority Business Development Institute (MBDI) is committed to empowering small and emerging businesses through education, mentorship, and financial tools. By offering innovative programs like the Surety Bonding E-Learning Program, MBDI helps businesses overcome barriers and achieve long-term success.

About Flagstar Bank

Flagstar Bank is a diversified consumer and commercial bank grounded in building relationships to meet clients where they are on their financial journeys.

SOURCE Minority Business Development Institute