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.
Business owners: Join us!
Online event: Surety Bond Guarantee Program
Tuesday, July 28 // 1:30-3:30 p.m.
The U.S. Small Business Administration’s Surety Bond Guarantee Program can help your small business obtain contract bid, performance and payment bonds. Please join us if your small business has:
Limited financial resources
No prior bonded work experience
Been in business less than three years
Been previously denied bonding
A desire to increase its current contract bonding capacity.
Stephen Konkle of the SBA will host this online event, which will cover:
- Contract bonds
o What they are and why they are required o Potential bonding capacity
o Ways to maximize your surety credit
- SBA’s Surety Bond Guarantee Program Contract Bond o Guarantees up to $6.5 million
o The SBA Advantage
o Costs and getting started
Register here: SuretyBondJuly28.eventbrite.com
Contact Economic Development Specialist Stephen Konkle at: firstname.lastname@example.org or (312) 886-4208 to learn more.
Register for other events, sign up for email updates, and learn more at www.sba.gov/il
Illinois District Office: 500 W. Madison St. Suite 1150, Chicago, IL 60661 | Telephone: 312-353-4528
All SBA programs and services are provided on a nondiscriminatory basis.