SBA BOND PROGRAM

FOR CONTRACTORS

The SBG program is a great bonding resource we provide for contractors who may have difficulty getting bonded in a standard market. Below is a brief overview of the requirements needed for obtaining bonds with the SBA. Every contractor's situation is different. For a more comprehensive understanding please contact our bond specialist to understand how the requirements relate to your situation and how to begin the process.

  1. Good character

  2. Reasonable expectation of successful completion 

  3. U.S. for-profit entity with legal U.S. owners Eligible to do business with the federal government

  4. Not involved in bankruptcy - SBA eligible after final discharge

  5. Current on taxes & repayment agreements 

  6. The bond amount cannot exceed the contract amount 

  7. A bond requirement in bid/contract documents 

  8. Maintenance terms up to 2 years - no special consideration/Longer terms considered if standard/statutory 

  9. All eligible contracts must be submitted for SBA guarantee 

  10. No restriction on program participation length 

  11. Ineligible bond types: bid bonds where the project has bid, substantially or completed projects, stand-alone maintenance, subdivision, mining reclamation, commercial & fidelity bonds 

Exclusions:

hazardous waste removal,  timber sales, pure demolition & projects in progress

SBA QuickApp requirements for projects up to $400,000 

  1. • 2-page application

  2. • Decisions in hours

  3. No financials/ WIP 

  4. No aggregate limit with SBA 

  5. Surety establishes qualifications 

  6. Maintenance terms up to 2 years 

  7. Performance periods up to 1 year

  8. LDs up to $1,000/day 

  9. No previous contract defaults/ claims 

Up to $6.5 Million Any Project

  • Any Project Federal, State, Local, Private & GC 

  • Year-end business financial statements last 3 years 

  • 6-month interim business financial statement if due 

  • Company and Affiliate tax returns last 5 years if applicable

  • Bank reference letter

  • Personal financial statement  

  • WIP schedule 

Up to $10 Million Federal Contracts 

  • With Contracting Officer certification to SBA 

  • Year-end business financial statements last 3 years 

  • 6-month interim business financial statement if due 

  • Company and affiliate tax returns last 5 years if applicable

  • Bank reference letter

  • Personal financial statement  

  • WIP schedule 

Surety Bonds_edited.png