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
Through a competitive RFP process, the Dormitory Authority of the State of New York (DASNY) has selected The Cayemitte Group (TCG) to provide Cayemitte Capital Management (CCM) services to its MWBE and SDVOB construction contractors.
Diverse vendors often find it difficult to become prime contractors because access to affordable capital and qualifying for bonding stand as barriers. Cayemitte Capital Management will provide sureties and lenders with the risk mitigation needed to comfortably bond and lend funds for DASNY projects.
"Without strong financial presentation and funds management skills, diverse businesses are at a disadvantage as compared to majority contractors. CCM was developed to help level the playing field, explains David Cayemitte, President of TCG. With the challenges smaller firms face due to the pandemic, implementing new means of support has become crucial to their survival."
CCM enhances the contractor's toolbox as they prepare to work as primes by facilitating access to affordable capital, protecting project funds and mitigating lender and surety risk. "CCM shores up back office operations while teaching best practices in financial management" explains Cayemitte.
Providing cutting-edge support has kept DASNY at the forefront of optimizing diverse procurement. Michael M. Clay, Senior Director of Procurement and Opportunity Programs at DASNY explains, "our decision to provide an option for bidders to utilize Capital Management services will be a game changer at increasing diverse spend." TCG was selected after responding to a rolling DASNY Request for Qualifications. For more information on this procurement, go to our RFP and Bid Opportunities webpage, search for: Capital Management Services.
On right, David Cayemitte, President of The Cayemitte Group & Michael Clay, Senior Director of Procurement and Opportunity Programs at DASNY