SBA’s Surety Bond Guarantee Program 2/14 Virtual

SMALL 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 preserve free competitive enterprise and to maintain and strengthen the overall economy of our nation. Nationwide, SBA delivered $56 billion to small businesses and disaster-impacted communities in Fiscal Year 2024 (FY24).

SPEAKER
Ford Scott, Lender Relations Specialist, U.S. Small Business Administration – Ford is responsible for marketing and providing hands-on assistance with SBA loan guaranty programs to lenders, economic development organizations and prospective small business borrowers, throughout Virginia. He received a Bachelor’s degree in Mathematical Sciences from Virginia Commonwealth University.

LOCATION
Virtual
A Teams meeting link will be sent to registered attendees within 24 hours of webinar.

COST
Free (registration required in order to receive Teams link)

Questions?
Contact Jamie Carrow