Media Contacts:
George Medina, Benfield Electric Supply, 914-948-6660
Brian Boyer, The Cayemitte Group, 860-960-7525
Minority, Women Business Enterprises (MWBEs) or Service-Disabled Veteran-owned Business (SDVOB) firms often face challenges that adversely impact their business, including access to capital and an inability to purchase inventory, which can be 30-60 percent of a given contract. The Cayemitte Group (TCG) and Benfield Electric Supply Companies recognized the issues involved in this process and are partnering to create an innovative solution for these small businesses to succeed.
The force behind this partnership is TCG’s innovative and proprietary Cayemitte Capital Management product, which offers MWBEs the opportunity to qualify to access affordable capital. This allows companies like Benfield to provide MWBEs with credit at competitive terms with minimal risk.
“Our partnership with Benfield levels the playing field for small and minority contractors, which increases their chances to thrive in the marketplace,” says David Cayemitte, President, The Cayemitte Group. “This makes the entire process of accessing capital flawless.”
Benefits of this partnership include:
- Maximizing resources: MWBE/small businesses now have a project supply line at competitive terms.
- Creating opportunities: The line increases the ability to qualify for bonding.
- Enhancing efficiency: Keeps projects on schedule and avoids delays that cost time and capital.
- Increasing value: MWBE/small working capital is freed up to use for other expenses.
According to Dan McLaughlin, Benfield President and CEO, “Benfield is honored to partner with The Cayemitte Group so that we both can support the MWBE Contractors in a manner that creates ownership and responsibility in the community verse the traditional pass throughs that have occurred.”
About The Cayemitte Group
TCG offers a suite of innovative services that respond to the complicated needs of business owners and specializes in the minority contractor community, including: Insurance Services, Surety Bonding, Capital Management – access to capital, Diverse Business Consulting and Feasibility Studies. The company is a change agent and voice for the minority business community and its carefully designed suite of services provide proven solutions to systemic issues.
About Benfield Electric Supply
BES is a full service, stocking electrical wholesaler. Benfield supplies the various needs of Commercial, Industrial construction marketplace. With experts on staff (including 11 Electrical Engineers and a RCDD) to assist customers in Power Distribution, Lighting, Low Voltage and Automation applications. Benfield also offers custom designed equipment packages featuring a panel assembly shop with CAD generated equipment layouts and approval drawings including value engineering and project redesign.
