SBA Surety Bond Guarantee Program Facts.pdf
PDF 227 KB Posted
- Attached to
- Modernize Electrical and HVAC Redundancy
- Solicitation number
- 1081400-2
About this file
This document provides details on a federal contract opportunity to modernize electrical and HVAC redundancy at Cannon Air Force Base in New Mexico. The project involves establishing a redundant electrical power system, replacing two 200-ton chillers with air-cooled models, and installing dedicated HVAC for ground control station bays. The estimated period of performance is 570 calendar days for a contract valued between $5 million and $10 million. This is a total small business set-aside to be awarded under FAR Subpart 15.1 using lowest price technically acceptable procedures. The solicitation will be issued no sooner than 15 days after this pre-solicitation notice. Offerors must register in SAM and have the applicable NAICS code to be considered. Small businesses lacking bonding capacity can explore SBA surety bond guarantees covering up to 90% of losses on contracts up to $10 million. Inquiries should be directed to the contracting officer and contract specialist listed.
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Other files
| File | Type | Posted |
|---|---|---|
| Pre-Solicitation Notice 02 July 2020.pdf | ||
| SBA Surety Bond Guarantee Program Flyer.pdf |
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Surety Bonds Surety bonds help small businesses win construction, supply and service contracts by providing the customer with a guarantee the work will be completed. Many contracts require surety bonds, which are offered by surety companies.
The SBA guarantee provides an incentive for surety companies to work with small businesses that would normally not be able to obtain the bond. Eligible small businesses can receive the bonding assistance neces-sary to compete for contracting and subcontracting jobs using the Surety Bond Guarantee Program. This program is aimed at small businesses that lack the financial resources or perfor-mance track record necessary to secure bonding through regular commercial channels.
Small businesses that often come to the SBA for surety bonds:
• Startups and firms in busi-ness less than three years
• Businesses with credit issues or internally prepared financial statements
• Subcontract trades with a desire to establish their own bonding as a prime contractor
• Those wishing to increase their current bonding limits
Surety bonds help small businesses win construction, supply, and service contracts.
FUNDING PROGRAMS
FUNDING PROGRAMS
Questions?
Do you want to discuss the advantages of the SBA’s Surety Bond Guarantee program or need to locate an SBA authorized agent? Contact a bonding specialist:
Tamara E. Murray Denver, CO
(303) 927-3479
Kevin Valdes Seattle, WA
(206) 553-7277
Jennifer C. Bledsoe Washington, DC
(202) 205-6153
For Public and Private Prime Contracts and all Subcontracts
For Federal Contracts
The SBA guarantees: bid, payment, performance, and ancillary bonds issued by surety companies
Cost of contract: up to $6.5 million
SBA reimburses surety companies in case of default 90 percent of losses sustained for veteran and service-disabled veteran, minority, 8(a), and HUBZone-certified small businesses; all projects up to $100,000
80 percent for all other small businesses.
The SBA guarantees: bid, payment, performance, and ancillary bonds issued by surety companies— if a guarantee would be in the best interest of the government
Cost of contract: up to $10 million
SBA reimburses surety companies in case of default 90 percent of losses sustained for veteran and service-disabled veteran, minority, 8(a), and HUBZone-certified small businesses; all projects up to $100,000
80 percent for all other small businesses.
Typically, small businesses provide financial statements and other documentation when applying for surety bond guarantees. This process is streamlined under the SBA’s QuickApp program, which is for contracts below $400,000. The streamlined application reduces the normal paperwork to a simple two-page application, and the small business does not need to file any financials with the SBA.
The SBA partners with 35 surety companies and hundreds of bonding agents. Online applications submitted through SBA authorized agents are approved in less than two days for regular applications and within hours for QuickApps. Find authorized agents at sba.gov/osg.
SBA’s QuickApp Program
File details come from the government source that posted it. Updated .