SBA Surety Bonds, Pt. 4: Giving Contractors and Surety Providers a Faster, More Convenient Application Process
by nicoj, Community Moderator
- Created: April 5, 2012, 11:53 am
- Updated: December 5, 2012, 8:12 am
Contractors and surety bond providers: Did you know the SBA guarantees surety bonds? For both small business contractors and surety agents alike, working with SBA to secure a surety bond guarantee can offer valuable benefits.
What’s more, applying for the program is fast – the average application is reviewed in under 2 days – and contractors and agents can upload application documents online through the e-Apps system.
SBA is working to make the online application even faster and more convenient.
This summer, SBA’s Office of Surety Guarantees is rolling out new application options to give small business contractors and surety providers a simpler, faster online process to submit forms, process fees and check application status and information.
For contract amounts up to $250,000, contractors will be able to submit a single form online to apply for SBA assistance without any additional documentation requirements. Surety agents will separately be able to submit the necessary forms. QuickApp speeds up the contact bond process by eliminating several existing application forms.
No more worrying about mailing a check: Pay.gov will offer both contractors and surety agents a secure, easy way to pay program fees online.
Stay tuned for these application changes, coming this summer, in SBA’s online newsroom, or by calling the Office of Surety Guarantees at 202-205-6540.
Blog Series on the SBA Surety Bond Guarantee Program
Have your own surety bond questions, comments or insights? Please share and join in on our conversation! You can comment on our surety bond discussion board, follow our surety bond tweets with hashtag #SBAsuretybond, or post on our Facebook wall. For contractor-specific information, check out Part 1 or Part 2 in our blog series. For surety provider information, read Part 3.
Additional Program Information
· Surety Bonds Main Page on SBA.gov
· How SBA Admits Surety Companies on SBA.gov
· Application Information Page for Surety Companies on SBA.gov
· Application Training for Agents
· Application User’s Manual for Agents
· Program forms page (PDF) including forms for surety companies/agents
· Treasury-certified surety companies listing
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