Connect2DOT: CDOT & SBA Bonding Assistance Program for Contractors
Do you need help getting bonded? Do you want to increase your current bonding limit to take on larger contracts? The Colorado Department of Transportation (CDOT) and the US Small Business Administration (SBA) have bonding assistance programs that can help contractors get a bond...even if you've been told "no" before by a surety. Come to this FREE workshop led by Lockton Companies, CDOT's bonding partner, and the SBA's Office of Surety Guarantees to learn about how you can use these programs to obtain bid, payment, performance, and other ancillary bonds depending on your situation and the type of contracts you are pursuing. CDOT Bonding Assistance Program: This new program was launched in July 2019 and is available to Emerging Small Businesses (ESB) that are ready to move from subcontracting into prime contracting directly with CDOT but are unable to obtain the necessary bonds to do so. Lockton Companies will explain how the program works and cover topics such as eligibility, application, surety matching, funds control, and eligible projects. The program can be used by ESB certified firms on CDOT contracts up to $3 Million. SBA Bond Guarantee Program: The SBA guarantees up to 90% of surety bond value for certain surety companies, which allows the companies to offer surety bonds to small businesses that might not meet the criteria for other sureties. An Underwriting Specialist from SBA will explain how the program works, eligibility, application, and evaluation criteria. This program is available for non-federal government contracts up to $6.5 million and up to $10 million for federal contracts.
Speaker(s): Tamara Murray, SBA Justin Tomlin, Lockton Companies
Fee: No Cost