Merchants Bonding Group announced a majority investment in Foundation Surety & Insurance Solutions, a Maryland-based agency focused on the Small Business Administration’s Surety Bond Guarantee Program. According to a news release, becoming the majority owner of Foundation Surety is an extension of the partnership Merchants began with its President Peter Gibbs in October 2021. Together Merchants and Foundation Surety have served 215 contractors who might not otherwise have qualified for surety bonding. “Merchants and Foundation Surety will continue operating as before with my focus on SBA business and Merchants providing a unique opportunity to its agent partners across the country to pursue and run any SBA surety business through me and Foundation Surety,” Gibbs said in a prepared statement. “I am grateful for this partnership and excited to fulfill my dreams of assisting underserved contractors across the country.” The SBA’s Office of Surety Guarantee has recognized Merchants Bonding for the partnership, naming the organization its Surety of the Year. “We are proud of and humbled by this honor,” said Merchants President and Chairman Larry Taylor in a prepared statement. “This investment is significant for our Specialty Solutions division and of strategic importance to Merchants as we live our commitment to diversity and inclusion.”