Did you know that every year government agencies set aside billions of dollars for contracting assignments designated for small, women and minority owned, and other qualified businesses? The bidding process for these awards frequently requires businesses like yours to secure a surety bond to guarantee performance and payment.

The Small Business Administration (SBA) manages the federal set aside program, and also provides additional government contracting assistance to help small and minority businesses receive contract awards. The SBA Surety Bond Guarantee Program makes contracting opportunities available to small and minority contractors where they normally couldn't compete by providing surety companies with reimbursement protection in the event of contractor default.

Surety bonds have become harder for small businesses to obtain without an SBA guarantee. 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 catapult their business to rapid growth.

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.

For a contractor to be eligible for the Surety Bond Guarantee Program:

1. Contract must be $2 million or less.
2. Must be independently owned and qualify as a small business under federal regulations.
3. For federal prime contracts, the company must meet the small business size standard for the NAICS code specified in the procurement.
4. All other contracts, the contractor's average annual receipts for the last three years cannot exceed $6.5 million.
5. Must have good character and reputation and cannot be currently disbarred or suspended from doing business with any federal agency.

We provide our customers with access to a SBA Surety Bond Guarantee Program forms library. Applicants can either complete the forms from start to finish right on their computer, and fax or mail them to Surety Bond Associates for processing, or apply for Surety Bond Guarantee assistance online using the SBA’s new Surety Bond E-App.

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