Helping new and emerging contractors with their bonding needs
SFAA has a longstanding commitment to assist new and emerging contractors with their bonding needs. Our Contractor Bonding Education and Mentoring Program provides the essential information needed to understand the bonding process from start to finish. Government programs are also available, including the Department of Transportation’s Bonding Education Program and the U.S. Small Business Administration’s Surety Bond Guarantee (SBG) Program.
SFAA’s Contractor Bonding Education and Mentoring Program
The Contractor Bonding Education and Mentoring Program, scheduled to launch in November 2021, is a resource for new, small, or disadvantaged contractors (minority, women and veteran-owned).
The on-demand program was created in partnership with the National Association of Surety Bond Producers (NASBP) and includes three learning pathways with nine modules:
- The Complete Contractor Bonding Education Modules
- Transactional Surety Bond Application Modules
- Traditional Surety Bond Application Modules
A link to the new Contractor Bonding Education and Mentoring Program will be shared in November.
Bonding Education Program (BEP)
SFAA partners with the U.S. Department of Transportation’s through their Bonding Education Program (BEP). The program helps small businesses become bond ready. Becoming bondable is a challenge for many disadvantaged businesses and this program aims to help businesses to grow by obtaining or building bonding capacity.
The BEP is a hands-on, multi-component program designed to address what businesses need to do to become bond-ready, as well as one-on-one sessions with local surety bonding professionals to help in assembling the materials necessary for a complete bond application. This program is tailored to businesses competing for transportation-related contracts.
U.S. Small Business Administration’s Surety Bond Guarantee (SBG) Program
The U.S. Small Business Administration’s Surety Bond Guarantee (SBG) Program provides surety bond guarantees for small businesses on federal, state, local, and commercial construction, service and supply contracts and subcontracts in direct partnership with surety companies and their agents.