The Charlotte Area Transit System will again co-sponsor a U.S. Department of Transportation Bonding Education Program (BEP) for the Charlotte region. This program is tailored to meet the specific needs of contractors competing for transportation-related contracts. CATS is partnering with US DOT, South Atlantic Region Small Business Transportation Resource Center and The Johnson Bros. Corporation to offer a program to help small and disadvantaged businesses grow by obtaining or building bond capacity.
A kick-off meeting is planned for Thursday, March 9 at the Charlotte-Mecklenburg Government Center at 600 E. Fourth St. at 5:00 p.m.
The BEP schedule will run from March 14-30. Small and disadvantaged businesses will need to register with the Small Business Transportation Resource Center to participate.
“CATS continues its commitment to helping small and economically-challenged businesses,” said CATS CEO John Lewis. “With the help of US DOT, Small Business Transportation Resource Center and The Johnson Bros. Corporation we’re able to provide local businesses with opportunities to become more competitive in the industry.”
CATS held its first BEP in spring of 2015, conjointly with LYNX Blue Line Extension construction, in which 22 businesses graduated from the program.
“The mission of the SBTRC is to provide the resources and tools necessary for small and disadvantaged businesses to compete on federally funded transportation related opportunities. It is rewarding to watch a company grow from a small endeavour into a successful business,” said Edward Timberlake Jr., US DOT Project Director of the South Atlantic Region Small Business Transportation Resource Center. “Small and disadvantaged businesses are encouraged to contact the South Atlantic SBTRC for technical assistance, financial resources and bonding assistance.
The BEP provides several tools that can help a business thrive by teaching them about obtaining a bond, managing growth, estimating and bidding, and financing and lending opportunities. Along with a regional stakeholders meeting, the program provides one-on-one interactions with local surety bond producers to assist with bond readiness and follow-up assistance.
