SBA Bond Program Application

Are you a small contractor struggling to secure a surety bond? The SBA’s Surety Bond Guarantee Program is here to support you! This innovative program helps small contractors, who might otherwise face rejection from surety companies, get the bonding they need. It offers you an opportunity to secure a bonding line for projects up to $6.5M. How? By assuring the surety company with a guarantee covering up to 90% of the contract liability!

But how does it work? It’s simple – the SBA Surety Bond Program provides a robust guarantee to surety companies. If they issue surety bonds for contractors under the program, the SBA commits to cover up to 90% of any losses incurred on those bonds. This reduced liability encourages surety companies to offer bonds to contractors who might not usually qualify.

Want to qualify for a contract surety bond? You’ll need to provide information to the surety company, demonstrating your ability to complete the contract as per expectations. The specifics depend on the nature and scale of the work. But don’t worry, the SBA surety bond program steps in to help contractors who might fall short of these requirements get the green light.

Wondering about the costs? Contract surety bond premiums generally range between 1% – 3% of the contract value, payable to the surety company when a contractor wins a contract and requires a payment and performance bond. Additionally, the SBA charges a fee of 0.729% of the contract price, alongside the premium, payable before the bond issuance.

Don’t let bonding challenges hold you back! Embrace the support offered by the SBA Surety Bond Guarantee Program and make your contracting dreams a reality!

Pricing: Depends The Bond Amount Requested. Purchasing Process: 1.Place Order. 2.Receive email. 3.Complete Online Application for instant quote. Requirements: Fast and Easy Online Application Estimated Time Frame: 5 to 10 minutes to complete the application and to get an instant quote. You can purchase instantly. Select “Add to Cart” to Order your quote now!