The Toledo-Lucas County Port Authority launched the Diversified Contractors Accelerator Program (DCAP) in 2010 to provide financial solutions to encourage increased participation by Northwest Ohio-based minority and women-owned contractors in publicly bid work and privately funded construction projects.
DCAP offers access to bid, performance, and payment bonds to contractors who are unable to obtain bonding through traditional sources and offers access to capital for the purchase of materials and payment of labor costs. Bonding is an essential piece of both public and private construction and construction-related businesses. Access to capital is equally critical to fund project materials and labor costs. By allowing the bonding and project cash flow decision to be brought to a local community level, DCAP intends to remove some of the obstacles that many minority and women-owned businesses face in securing bonding and managing project cash flow. In addition, the program will supplement the contractors’ educational and financial strategies by providing resources to leverage local industry training programs designed to teach the basics of the business of construction and in turn empower them to better compete and to build the tools necessary for long-term business success.
The Toledo-Lucas County Port Authority developed DCAP in cooperation with the Toledo Minority Contractors Business Assistance Programs, Ohio Department of Development Division of Minority Business Enterprise, Lucas County, City of Toledo, University of Toledo, Northwest Ohio Hispanic Chamber of Commerce, African American Bureau of Commerce, local banking community, and minority and women-owned business community.
The Port Authority continues to reach out to other private and non-profit entities interested in the success of the program to secure additional in-kind contributions to expand the scope of our ability to serve the greatest amount of participants within this constituency base.
For more information:
Manager, Finance and Special Projects
Interested contractors should fill out the Company Profile form below.