The Small Business Administration bond program can be a great way for contractors to expand their bonding capacity, but whether it’s the right move for your business is a question mark. As with any program, there are advantages and disadvantages to applying for them. This, of course, depends on the contractor considering applying for the …
Many contractors have heard about the SBA program but wonder if it’s right for them and are unsure how to figure out if it’s a good fit for their bonding needs. The program can be a great help to both newer and more seasoned contractors, but not all would benefit from applying to it. In …
The Small Business Administration (SBA) formed the Surety Bond Guarantee Program in 1971 in an effort to increase the small business participation in federal, state, and local government contracting. To accomplish this, the SBA provides participating surety companies a guarantee for the bid, performance and payment bonds they write to contractors enrolled in the program. …
How the SBA Bond Program Can Increase Your Bonding Capacity Read More »
New construction companies face a special set of hurdles when beginning, as any business does. It’s not just getting set up that causes barriers, but it’s getting the bonding in place to allow you to pursue the projects that will help your business grow. This means getting the right bond program can be critical to …
What Sureties Look For When Bonding Newer Construction Companies Read More »
As the construction market continues to improve, we are seeing more contractors needing increased bonding capacity. For some contractors this means wanting the ability to bid larger projects and for others it’s a matter of more overall bonding capacity to support their growing backlog.