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Surety bonds

The Small Business Administration (SBA) guarantees bid, performance, and payment surety bonds issued by certain surety companies.

The SBA guarantees surety bonds

Surety bonds help small businesses win contracts by providing the customer with a guarantee that the work will be completed. Many public and private contracts require surety bonds, which are offered by surety companies. The SBA guarantees surety bonds for certain surety companies, which allows the companies to offer surety bonds to small businesses that might not meet the criteria for other sureties.

How the SBA Surety Bond Program works

Businessman and contract
Surety bonds are requested
Some contracts require that the business doing the work be properly bonded.
Business and contract
Surety partners with business
Authorized surety companies provide surety bonds to businesses that meet their qualifications.
Contract
The SBA guarantees
The SBA guarantees surety bonds for private surety companies, so more small businesses can qualify.
Handshake
Small businesses benefit
Small businesses get SBA-guaranteed surety bonds so they can get to work.

Contract or commercial bonds

Depending on the the type of work, a business may be required to obtain a contract bond or a commercial bond.

The right surety bond for the project

Some contracts require surety bonds that cover specific situations. The SBA guarantees surety bonds that cover several major categories of work.
Gavel
Bid
Ensures full payment and performance bonding from the contract bidder.
Cash in hand
Payment
Ensures full payment to the suppliers and subcontractors.
Checklist and magnifying glass
Performance
Ensures full completion of a contract by small business.
Wrench and gears
Ancillary
Ensures completion of requirements outside of performance or payment, such as maintenance.

Bond Guarantee Fee

All performance and payment bond guarantees require small businesses to pay the SBA a fee of .729% of the contract price. If for some reason the bond is cancelled or not issued, the SBA will return the guarantee fee. The SBA does not charge a fee for bid bond guarantees.

Eligibility

Determine your small business’s level of eligibility before obtaining a surety bond. Does your business meet the following requirements?
Storefront
Be a small business
Qualify as a small business according to the SBA’s size standards.
Contract
Have a small contract
Up to $6.5 million for non-federal contracts and up to $10 million for federal contracts.
Checklist
Pass evaluation
Meet the surety company’s credit, capacity, and character requirements.

Contact a surety bond agency

Check the database of surety agencies that offer SBA-guranteed bonds. Contact a surety agency in your state to get started with the application process.
Select...
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Accredited Surety Agency LLC

610-849-0772

Acrisure, LLC dba Smith Manus

502-238-1228

Agents of Insurance

605-348-7788

Alamo Surety Bonds

210-930-5550

Allstar Surety Company, Inc.

303-694-4404

Alter Surety Group, Inc.

305-517-3798

American Surety Bonds Agency, LLC

404-486-2355

Anglo-Puerto Rican Insurance Corporation

787-474-4900

Assurance Brokers, LTD

618-692-9800
Showing  1  - 9  of  135

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