SBA Bond Market
General Information about the SBA Bond Markets
Sureties can choose whether or not to be an SBA Bond Market. Even if a surety is a SBA Bond Market they may still underwrite bonds differently. CCI Surety, Inc. has always focused on writing bonds for contractors with low credit scores, or other financial issues that prevent them from fitting into standard bond markets. Being an SBA Bond Market allows CCI Surety to consider all accounts for the SBA Bond Guarantee Program as well as other programs.
Contractor steps to enter the SBA Bond Guarantee Program
- CCI Surety will determine if the contractor qualifies for the SBA Program based on the size of the contractor and the size of the project among other factors
- CCI Surety will provide any documents required to enter the program during the underwriting process and throughout the contractor’s time in the program
- The contractor is not required to be involved in any other SBA Programs
- CCI Surety will provide invoicing, collection and payment for any required SBA Fees
Small Contract Applications– For Projects $250,000 and under
Contract Bond Application – For Bonds larger than $250,000
SBA Supplemental Information – Include for consideration for the SBA Surety Bond Guarantee Programs
WE MAY BE ABLE TO QUOTE COMPANIES WITH CREDIT SCORE OR OTHER FINANCIAL ISSUES.
If you have any questions or need more information about SBA Bond Markets don’t hesitate to contact us. Jim Dillenburg [email protected] 866-317-3294
Our Home Office handles SBA Bond Guarantee Program situations in Maine, Vermont, New Hampshire, Massachusetts, Connecticut, New York, Pennsylvania, New Jersey, Rhode Island, Delaware, Maryland, Virginia, West Virginia, Ohio, Kentucky, Tennessee, Arkansas, Texas, Oklahoma, Kansas, Missouri, Illinois, Indiana, Michigan, Wisconsin, Minnesota, Iowa, Nebraska, South Dakota, North Dakota, Montana, Wyoming, Colorado, New Mexico, Arizona, Utah, Idaho, Nevada, Oregon, Washington, California, Hawaii, Alaska, and Washington D.C.
Payment & Performance ★ Bid ★ ERISA ★ Motor Vehicle Dealer Bonds ★ BMC-84 ★ Wage & Welfare ★ License and Permit ★ Commercial ★ Contract ★ Miscellaneous
Please Note: We can always get started working on submissions or applications that you have already prepared for other markets. CCI Surety, Inc. specializes in hard to place contract bonds that may have previously been declined by other sureties. We use different kinds of tools which allow us the freedom to think outside the box with our underwriting strategy. We are able to get comfortable with difficult situations using escrow / funds control, SBA Surety Bond Guarantee program and working capital deposits as different options to get the bond approved. CCI also has a very successful Easy Start Program for contracts between $250,000 and $1,000,000 that may be obtained with a two page application plus any financial documents that are available. On commercial bond business we handle both standard and non standard business. Contract Bonds – Multiple Markets – Can Provide A+ rated bonds – $3M in-house authority, up to $15M from home office – Quick Turn around – No Agency Requirements SBA Backed Bonds – 2012 National SBA Bond Producer of the Year – Potential to approve bonds even with negative working capital – SBA Bond Program now covers bonds up to $6.5M and in some cases $10M Commercial Bonds – Standard and Non-Standard Bonds – Experienced staff specialized in handling Commercial Bond needs – License and Permit, Fidelity, ERISA, Business Services and Court Bonds – Miscellaneous Bonds