20.904: Bonding Assistance Program

20.904

Inactive

USDA Immediate Office of the Secretary [USDA]

Aug. 2, 2019

Aug. 22, 2018

To encourage, promote, and assist minority entrepreneurs and businesses in getting transportation-related contracts, subcontracts, and projects by providing bonding assistance to obtain bid, payment, and performance bonds.

M - Training

The participant in bonding assistance program must be a construction contractor whom is or in the process of becoming certified as small and disadvantaged business to perform work on transportation-related project. Hereafter, the term small and disadvantaged business will refer to: 8(a), small disadvantaged business (SDB), disadvantaged business enterprises (DBE), women owned small business (WOB), HubZone, service disabled veteran owned business (SDVOB), and veteran owned small business (VOSB). Additional requirements include: • To be considered for the program, applicants must be the primary owner(s), key manager(s) or administrator(s) of a business that meet the following criteria: • Existing in business for at least (2) consecutive years • Revenue of at least $250,000 annually • Have a minimum of (2) full time employees (including owner) • Past performance in construction industry • Pursuing transportation-related contracts • Interested in satisfying credit, capacity and character evaluations in consultation with a surety representative • Consultants, developers and engineering firms are not eligible for the program

The recipient of bonding assistance must be a small and disadvantaged business. Bonding Assistance provided under the American Recovery and Reinvestment Act of 2009 (ARRA) is only available to Disadvantaged Business Enterprises (DBE) certified under 49 Code of Federal Regulations Part 26.

59.006 - 8(a) Business Development Program

59.016 - Surety Bond Guarantees