DASNY is committed to supporting the Minority- and Women Business Enterprises (MWBEs), and Service-Disabled Veteran-Owned Businesses (SDVOBs), and to having the partners we work with reflect the diversity of New York State.
Reuben R. McDaniel, III
President & CEO | DASNY
DASNY Capital Management Plan
For many diverse vendors, it can be difficult to become prime contractors because they are unable to access affordable capital and qualify for bonding.
DASNY Capital Management Plan helps New York’s MWBE and SDVOB contractors become prime contractors on DASNY construction contracts.
The DASNY Capital Management Plan (CMP) helps MWBE/SDVOB contractors grow their businesses and succeed at both bidding and execution. The program:
- Reduces risk for lenders
- Provides contractors access to capital needed to qualify for surety bonding required for all projects over $100,000.
- Offers back office supports, including financial management and funds control, to ensure timely payments on all project-related expenses.
- Delivers training to help contractors build capacity to manage larger projects.
This unique program is supported with an initial investment of $10 million by the non-profit Local Initiatives Support Corporation (LISC).
- This funding creates a revolving loan fund for MWBE/SDVOB contractors to be able to secure surety bonding to bid on DASNY projects.
- The program is administered in partnership with The Cayemitte Group, a full-service insurance and surety bond brokerage,
On right, David Cayemitte, President of The Cayemitte Group & Michael Clay, Senior Director of Procurement and Opportunity Programs at DASNY