Natick,United States - July 9, 2022 /PressCable/ —
The family-owned and operated agency now provides assistance to small businesses looking to obtain construction bonds they might not typically be approved for. Through the Small Business Administration (SBA) Bond Guarantee Program, a contractor can secure larger bond thresholds than they would normally qualify for in standard markets.
More information can be found at https://www.suretybondprofessionals.com/sba-program
Surety Bond Professionals, an independent bond-only agency, now offers small businesses the chance to get their foot in the door with their first construction bond, thereby helping to establish a track record for future bids. As the SBA does not issue bonds directly, SBP acts on its behalf – issuing the surety bond once the SBA application has been approved. The agency will help its client secure the construction bond needed with the largest single/aggregate capacity and best terms possible.
Business involves risk and uncertainty – especially in the construction business. The industry faces everyday challenges such as material shortages, economic uncertainties, and equipment breakdowns, all exacerbated by inflation, climate change, and the current labor shortages and supply chain issues. These risks are compounded for smaller players who meet the SBA’s criteria for small business incentives/assistance – but a surety bond provides financial assurance that the contractors will finish the construction project as agreed and budgeted in the contract. As the construction market – almost $1.5 trillion in total – is expected to see strong growth in 2022, small businesses will be competing for more federal projects as well, which require the principal party to be bonded.
SBP’s proprietary methodology leverages a large network of underwriters which enables them to find the best match for their clients. To make the process easier for its clients, SBP collaborates directly with all concerned parties – including the principal or contractor and the SBA – to secure the necessary construction bonds. The sole difference with an SBA-guaranteed bond is that if the principal does not repay the surety in full, the SBA will cover 80-90 percent of the principal’s debt to the surety.
One recent client commented: “We have been working with Mark Leskanic of Surety Bond Professionals for several years now. Mark and his staff of very skilled professionals have been a crucial part of our growing general contracting business. I would without a doubt recommend their services.”
Interested parties can go to https://www.suretybondprofessionals.com/sba-program for more information.
Contact Info:
Name: Mark Leskanic
Email: Send Email
Organization: Surety Bond Professionals, Inc.
Address: 205 Union Street, Natick, MA 01760, United States
Phone: +1-781-559-0568
Website: https://www.suretybondprofessionals.com/
Source: PressCable
Release ID: 89078147
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