Got bonding? — The Surety Bond Guarantee program can help

Description

Abstract: For small construction companies, obtaining bonding can be a huge challenge. But the U.S. Small Business Administration (SBA) may have a solution. The SBA’s Surety Bond Guarantee program helps provide surety bonds of up to $2 million per project for qualified contractors. This article examines these qualifications and the application process, noting that the program may be a good option for construction businesses with limited working capital but a healthy amount of ambition to take on new projects.