Top US Surety Agency Facilitates SBA Bond Guarantee Program For Contractors

Top US Surety Agency Facilitates SBA Bond Guarantee Program For Contractors

Above all else, surety bonds give you peace of mind - since sub-contractors can’t hold you responsible for unpaid materials or services.  Surety Bond Professionals, an independent bond-only agency, now provides assistance to small businesses looking to obtain construction bonds they might not typically be approved for. 

Through the Small Business Administration (SBA) Bond Guarantee Program, you can secure larger bond thresholds than you would qualify for in standard markets. As the SBA does not issue bonds directly, SBP acts on its behalf - issuing the surety bond once the SBA application has been approved. 

The agency will help you secure the construction bond needed with the largest single/aggregate capacity and best terms possible. Business involves risk and uncertainty - especially the construction business.

These risks are compounded for smaller players who meet the SBA’s criteria for small business incentives/assistance - but a surety bond provides financial assurance that the contractors will finish the construction project as agreed and budgeted in the contract.  As the construction market - almost $1.5 trillion in total - is expected to see strong demand in 2022, small businesses will be competing for federal projects as well, which require the principal party to be bonded.

To make the process easier for you, SBP collaborates directly with all concerned parties - including the principal or contractor and the SBA - in the issuance and securitization of the necessary bonds. The sole difference with an SBA- guaranteed bond is that if you do not repay the surety in full, the SBA will cover 80-90 percent of your debt to the surety.

One recent client commented: \"We have been working with Mark Leskanic of Surety Bond Professionals for several years now.\" \"Mark and his staff of very skilled professionals have been a crucial part of our growing general contracting business. I would without a doubt recommend their services.\"

Go to https://www.suretybondprofessionals.com/sba-program for more information.