The SBA Surety Bond Guarantee Program makes contracting opportunities available to small, minority and other qualified contractors where they normally couldn’t compete by providing surety companies with reimbursement protection in the event of contractor default. The program can guarantee bid, performance and payment bonds for individual contracts of $6.5 million or less for small and emerging contractors who cannot obtain surety bonds through regular commercial channels.
Surety bonds have become harder for certain contractors to obtain without a guarantee from the SBA. The application process for a surety bond can be confusing and frustrating to complete. To make matters worse, few surety agents provide their customers access to the SBA guarantee program. As a result, small businesses frequently miss out on the kinds of lucrative contract opportunities that can help them grow and increase their capacity.
Surety Bond Associates has developed innovative solutions to grow small businesses. Working together with the SBA, Surety Bond Associates simplifies the application process and makes the SBA guarantee program easily accessible to qualified contractors.
Apply online today to see if your company can benefit from the SBA Surety Bond Guarantee Program.