The Contractor’s Corner – Stimulus act boosts ceiling for SBA surety bonds

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Abstract: When contractors go out in search of bonding, the federal government probably doesn’t immediately leap to mind. But the Small Business Administration (SBA) is an option, and they have some pretty good offerings. The stimulus act has increased the maximum amount of bonding it can offer. And the agency recently established a new electronic bond application process that greatly speeds up applicants’ ability to obtain bonding. All application forms are available online and can be transmitted, expedited and approved electronically.