Surety Bond Quarterly - Summer 2017 - 20

Feature

Acting Director of the U.S.
SBA Office of Surety Guarantees

Peter Gibbs Looks
to the Future

U.S. SBA Office of Surety Guarantees
Acting Director Peter Gibbs

AFTER THE APRIL 2016 retirement of
Frank Lalumiere, who was Director of
the U.S. Small Business Administration
(SBA) Office of Surety Guarantees
(OSG) and oversaw the Surety
Bond Guarantee (SBG) Program, the
Program has gained leadership with
the appointment of Peter Gibbs as
Acting Director. Gibbs is a longtime
staffer with the OSG, starting in 2005
and most recently serving as Deputy
Director of the SBG Program.
Gibbs joined the SBA in May
1991, serving in SBA's Investment
Division Office of Examinations,
New Markets Venture Capital, and the
Rural Business Investment Program.
Initially an Examiner, he was ultimately promoted to Deputy Director
and successfully launched the New
Markets Venture Capital Program,
establishing and implementing policies, regulations, and evaluation
procedures. This program promotes
economic development and the creation of wealth and job opportunities in low-income areas. His primary

20

From left, Peter Gibbs, NASBP bond producer members Reggie Jarvis of Centennial
Surety Associates and Josh Etemadi of Construction Bonds, Inc., and Michael Cox of
the SBA's OSG at the May 18 Bonding Across America event in DC.

charge was evaluating private venture
capital management teams to determine their eligibility for $180 million
in debenture and grant funding.
A graduate of Central State
University with a B.S. in accounting
and of Western Carolina University
with an M.E. in entrepreneurship, Gibbs' career includes serving 27  years in the Army National
Guard, Army Reserves, and on active
duty. "I was deployed from 2006 to
2010, serving at the Pentagon and
the Defense Intelligence Agency,
which included two deployments in
the Middle East," he recalled. "My
background as a senior logistics military officer has helped me to lead a
great team while utilizing innovation
to take the SBG Program to the next
level." He also worked as a comptroller for an 8(a) construction firm,

SURETY BOND QUARTERLY | SUMMER 2017

giving him "firsthand knowledge of
the bonding process and the hurdles
small businesses sometimes encounter in applying for surety credit."
As the SBG Program Deputy Direc tor, Gibbs developed and recommended policies, procedures,
guidelines, and criteria for evaluating
and mitigating all programs and operational efforts. In addition to operations and personnel management, he
worked closely with the surety companies that provide more than $9 billion
annually in bond guarantees to small
U.S. businesses. Then he concentrated
on underwriting and information technology, but he is now responsible for
all SBG Program aspects.
Two NASBP bond producers who
have worked with Gibbs see him as
the right choice for his new position.
"Peter is always willing to listen to



Table of Contents for the Digital Edition of Surety Bond Quarterly - Summer 2017

NASBP Upcoming Meetings & Events
2017–2018 Executive Committee
From the CEO: Bringing Summer Heat: A Rundown of “Hot” Stuff in the Evolving World Surrounding Surety
Howard Cowan—Building on a Solid Foundation
Mitigating the Hidden Risks in the “New Normal” Construction Environment
Acting Director of the U.S. SBA Office of Surety Guarantees
Drones Take Flight in the Construction Industry
2017 AIA Contract Documents: Selected Key Changes
NASBP to Release Continuing Education Course: Joint Ventures in Construction
How Can Construction Contractors Expedite Payment on Federal Contracts?
Insurtech for Surety: The Future Is Closer than You Think!
Index to Advertisers
Surety Bond Quarterly - Summer 2017 - Intro
Surety Bond Quarterly - Summer 2017 - cover1
Surety Bond Quarterly - Summer 2017 - cover2
Surety Bond Quarterly - Summer 2017 - 3
Surety Bond Quarterly - Summer 2017 - 4
Surety Bond Quarterly - Summer 2017 - 5
Surety Bond Quarterly - Summer 2017 - 6
Surety Bond Quarterly - Summer 2017 - 2017–2018 Executive Committee
Surety Bond Quarterly - Summer 2017 - 8
Surety Bond Quarterly - Summer 2017 - From the CEO: Bringing Summer Heat: A Rundown of “Hot” Stuff in the Evolving World Surrounding Surety
Surety Bond Quarterly - Summer 2017 - Howard Cowan—Building on a Solid Foundation
Surety Bond Quarterly - Summer 2017 - 11
Surety Bond Quarterly - Summer 2017 - Mitigating the Hidden Risks in the “New Normal” Construction Environment
Surety Bond Quarterly - Summer 2017 - 13
Surety Bond Quarterly - Summer 2017 - 14
Surety Bond Quarterly - Summer 2017 - 15
Surety Bond Quarterly - Summer 2017 - 16
Surety Bond Quarterly - Summer 2017 - 17
Surety Bond Quarterly - Summer 2017 - 18
Surety Bond Quarterly - Summer 2017 - 19
Surety Bond Quarterly - Summer 2017 - Acting Director of the U.S. SBA Office of Surety Guarantees
Surety Bond Quarterly - Summer 2017 - 21
Surety Bond Quarterly - Summer 2017 - Drones Take Flight in the Construction Industry
Surety Bond Quarterly - Summer 2017 - 23
Surety Bond Quarterly - Summer 2017 - 2017 AIA Contract Documents: Selected Key Changes
Surety Bond Quarterly - Summer 2017 - 25
Surety Bond Quarterly - Summer 2017 - 26
Surety Bond Quarterly - Summer 2017 - NASBP to Release Continuing Education Course: Joint Ventures in Construction
Surety Bond Quarterly - Summer 2017 - How Can Construction Contractors Expedite Payment on Federal Contracts?
Surety Bond Quarterly - Summer 2017 - 29
Surety Bond Quarterly - Summer 2017 - 30
Surety Bond Quarterly - Summer 2017 - 31
Surety Bond Quarterly - Summer 2017 - Insurtech for Surety: The Future Is Closer than You Think!
Surety Bond Quarterly - Summer 2017 - 33
Surety Bond Quarterly - Summer 2017 - Index to Advertisers
Surety Bond Quarterly - Summer 2017 - cover3
Surety Bond Quarterly - Summer 2017 - cover4
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