SBA Surety Bond Guarantee Program Form

Instructions and help about SBA Surety Bond Guarantee Program

[Music] small businesses are the backbone of our country the surety bond guarantee program is helping small contractors small businesses that would otherwise not be able to participate on a specific project sba's surety bond guarantee program was created officially on december 30th 1970 through a housing and urban development act that was passed by congress the early 70s there was a lot of economic tumults going on at the time and the housing and urban development act was passed with the surety bond guarantee program in it in order to create access to contracting opportunities for small businesses a surety bond is a three-party agreement between a small business a surety company and the owner and what it does it just guarantees to the owner that the job is completed the program is pretty much based around socially disadvantaged and minority contractors that would not be able to secure bonding without the sba support the sba bonding guarantee program helps these firms have access to opp