Bond Pro Insurance Brokers is an SBA specialist with In-House Underwriting Authority of $500,000 single and $1,000,000 aggregate bonding limits.
SBA Surety Bond Guarantee Program
The U.S. Small Business Administration’s (SBA) Surety Bond Guarantee (SBG) 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 standard underwriting methods. There is no limit to the number of bonds that can be guaranteed for any one contractor. SBA’s guarantee gives sureties an incentive to provide bonding for eligible contractors, and thereby provides greater access to contracting opportunities. This guarantee is an agreement between a surety and the SBA providing that the SBA will assume a predetermined percentage of loss in the event the contractor should breach the terms of the contract. The SBA Office of Surety Guarantees (OSG) administers the SBG Program as a public-private partnership between the federal government and the surety industry.
Types of Eligible Contract Bonds: Below are the types of contract bonds that may be covered by an SBA guarantee:
SBA Eligibility Requirements
In addition to the surety’s bonding qualifications, SBA’s eligibility requirements for applying for an SBA bond guarantee are:
At Bond Pro Insurance Brokers, WE LOVE THE SBA! Unlike many other Surety Agencies out there, we specialize in providing these types of bonds. When other sureties or agencies say no, require collateral or other conditions, the SBA guarantee can be used in their place. The process is not much different than normal bonding and the SBA is a great tool to get your bonds APPROVED!
14772 Clayton Rd
Ballwin, MO 63011
Click Here to Email Us