SBA Surety Bond Program - Contact Us Today To See How We Can Help!

Bonding Solutions is open at full capacity to handle any surety bond request. The health and safety of our Clients and Team is our number one priority. Visit our COVID-19 Update page to learn more about our heightened safety measures.

SBA Surety Bond Program

Bonding Solutions is a nationwide leader in providing our clients access to SBA surety bond programs. we can provide Bid, Payment, Performance, and Ancillary surety bonds through our surety companies backed by the SBA.

Apply Now
Existing Clients Request Form

Why work with Bonding Solutions? Simple! We are different!

We are a surety only agency that thrives on creating an unbeatable client experience! Our industry leading bond volume allows us to create programs that can be tailored to each individual client, getting them their bond faster at the cheapest cost! Below are a few reasons our clients love to work with us:

  • #1 Rated Bond Agency Nationwide
  • Find the Lowest Bond Costs in Minutes
  • Quickest Approvals
  • Pay Instantly Online – 100% Secure
→ Get Started!

What is the SBA Surety Bond Program?

Many surety companies who offer contract surety bonds and the Small Business Administration (SBA) have partnered to provide contractors, who do not qualify on a standard basis, access to surety bond support for a very small cost to the contractor. Most contract bonds, including bid, performance, and payment bonds, are supported through the SBA and offer contractors the ability to procure and complete contracts that require them to post a surety bond.

Bonding Solutions is a leader in the surety industry for SBA surety bond placement and can assist you with any questions or if you need an SBA guaranteed surety bond today. Give us a call to get started.

 




How much is the SBA fee?

Bonds backed by the SBA require contractors to pay a fee of 0.6% of the total contract price. This amount is in addition to the surety company premium, which can run 1-3% of the total contract price. There are no fees for a bid bond.

Why would I need an SBA backed surety bond?

Many contractors are either new in business, a small business, have bad credit, or have experienced financial challenges. It can be very difficult to qualify for a surety bond under these circumstances.  The underwriting involved with qualifying for bonding can be rigorous or rely on good credit alone.  There is a lot of financial information about your construction or service company and or its owners that needs to be disclosed.  It is very much like going to a bank and applying for a loan.  The SBA has a program that assists with these challenges.

The Office of Surety Guarantees (called the SBG) is the office within the SBA that handles SBA surety bond program approvals. Their role is that of issuing, upon underwriting qualification, a formal surety bond guaranty.  This is done through participation with qualified surety companies and surety agencies, like Bonding Solutions. The SBA guaranty is there as a tool to help the surety company fill the gaps in those instances where a contractor does not qualify under a standard bond underwriters’ approval.  With the SBA’s guaranty, most often it will help you obtain the bond thereby allowing you to bid a project, or bond it according to the terms of the contract.  Without the bond in place, your bid will not be accepted, and/or you will not be awarded the contract.

Recent changes to the SBG have set generous limits to help in ensuring a contractor or service provider has an adequate bonding capacity to go after the jobs they want.  We have seen payment and performance and bid surety bonds issued as much as $6.5 million.  If you are bidding a Federally funded project and the contracting office will certify it, we can offer bonds in those instances up to $10 million through the SBG.  That can be a sizable job for a well-qualified small business! The SBA provides a powerful tool to obtain surety bond support under the circumstances listed above.

How do I get started?

Easy! You must qualify as a small business, have a contract awarded or be ready to bid, and pass the surety company’s underwriting.

To get the process started apply here or call one of our SBA specialists today.

Get Started

SBA Resources

SBA Surety Bond Program

990A Quick Bond Application  (Used for requests under $400k.)

994 SBA Application

912 Statement Personal History

Surety Bond List

Load More

Questions?

Call us today to speak to a Surety Bond Specialist

(877) 841-6745