Since this is program is through the Federal Government, you cannot pre-qualify, you have to have a bid or contract bond request to apply. This application is intended for bonds up to $250,000. Please allow 7-10 days for the approval process. Liquidated damages can not exceed $250/day, Contract and Maintenance Period can not exceed one year.
In order to process, we will need:
1) Completed SBA 990A Application (Form Below): Please complete Pages 1 and 2 through Part B (section I or II, for bid bond or performance/payment bond), including the requested signature. Be sure to be thorough to minimize processing time. Please fax or email a copy to us. Once Page 1 and 2 are received, we will process through SBA and then send the full application for signatures along with a General Indemnity for the Surety we will be writing the bonds through.
2) Properly executed SBA Form 912 for all owners (Form Below): This form needs to be completed in blue ink. Please fax or email a copy to us & return the original with original full application and original executed General Indemnity Agreement.
3) For Performance & Payment Bond Requests: a SBA processing fee of $7.29/thousand of the contract amount is required at the time of all Performance & Payment Bond requests. Please make the check payable to “SBA” and send to our office with original items in #1 and 2. If the bond is not approved, the fee is returned.
To summarize, in order to obtain final approval, we will need the original SBA form 990A and SBA form 912 along with the General Indemnity Agreement and SBA Fee Check.
There is no charge for bid bonds. Upon approval of all performance & payment bonds, the cost of the bond is 2% of the contract amount and is required prior to releasing the bonds. All checks for bond premium can be made payable to Florida Surety Bonds, Inc. and sent directly to our office.
Please include any applicable bond forms related to your current bond need. For performance and payment bonds, a copy of the contract, through the signature page, is required.
If you have any questions, please feel free to call us at 888-786-BOND, and we would be happy to discuss.
SBA Quick Bond Guarantee Program
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Download the SBA Quick Bond Guarantee Program Form
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SBA Form 912
Fill out and return form by following the instructions below:
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Print and fax, or save and email to a bonding professional.