SBA’s Surety Bond Guarantee Program 2/14 Virtual
VirtualSMALL BUSINESS ADMINISTRATION'S SURETY BOND GUARANTEE PROGRAM Friday, February 14, 2025 | 10:00AM - 11:00AM | Virtual Under the Surety Bond Guarantee Program, the Small Business Administration (SBA) guarantees bid, performance, and payment surety bonds issued by certain surety companies. This webinar is a must for any small business that is in need of bid, performance, or payment bonds. SBA guarantees contract bonds but does not guarantee commercial bonds. Contract bonds ensure the terms of a specific contract are fulfilled. Key Takeaways • Alternative Bonding Option: The SBA's Surety Bond Guarantee Program offers an alternative avenue for small businesses to obtain contract bonds if they don't meet traditional bonding requirements. • Increased Access to Contract Bonds: The program accommodates contracts up to $9 million for non-federal contracts and up to $14 million for federal contracts, making it easier for small businesses to access contract bonds. • Reduced Working Capital Requirements: The SBA's program requires about half the working capital typically needed for contract surety bonds, making it more accessible to small businesses with limited resources. The SBA is an agency of the Federal Government established in 1953 to aid, counsel, assist and protect the interests of small business concerns, to […]