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Small Business Administration 400K Quick Bonding Program

The following is a list of information and forms necessary to set up a bond line within the Small Business Administration's(SBA) quick app program (No cost involved to set up or maintain) The information requested below helps the underwriters better understand you and your business as well as allows us to create solutions to your specific needs.

 

As one of the largest providers of bonds for the SBA, we have streamlined the process. Depending on your individual circumstances and needs we recommend being proactive in establishing your Single and Aggregate program so you never miss an opportunity.

The SBA's quick app program is designed to give sureties an incentive to providing bonding to small businesses and thereby, assists small businesses in obtaining greater access to contracting opportunities.

PROS

  • No aggregate limit with SBA 

  • 3 Forms needed

  • No financials/ WIP (Work in progress) needed 

  • Surety establishes qualifications 

  • No minimum credit score required if other underwriting criteria are met

CONTRACT TERMS 

  • Maintenance terms up to 2 years 

  • Performance periods up to 1 year

  • LDs (Liquidated damages) up to $1,000/day 

 

EXCLUSIONS

hazardous waste removal, timber sales, pure demolition & projects in progress, No previous contract defaults/ claims

REQUIRED FORMS 

  • Contractor Questionnaire

  • SBA Form 912

  • SBA Form 990a 

ADDITIONAL ITEMS THAT MAY BE REQUIRED

  • Personal Financial Statement

  • References (This can help solidify a stronger surety relationship)

  • Resumes (Providing current and previous experience detailing job size, scope, and key role)

  • If you have had a bankruptcy we will need a written explanation of what led to the bankruptcy as well as a copy of BK discharge paperwork.

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CONTACT US

NIELSON HOOVER AND COMPANY

 220 CONGRESS PARK DRIVE, SUITE 100 DELRAY BEACH, FLORIDA 334455

TEL: 561-676-2322

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