Small Business Administrations Surety Bond Guarantee Program Hearing Before T

Cover Small Business Administrations Surety Bond Guarantee Program Hearing Before T
Small Business Administrations Surety Bond Guarantee Program Hearing Before T
Exports United States Congress House Committee On Small
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We'd almost prefer to put up cash and our home to provide less information to the surety.
Florida The Small Business Administration is great in assisting small compainies in getting bonds by guaranteeing sureties against any loss. What is bad is the premiums. Most states that I am 87 Florida working in now have a premium of 3 percent of the total contract amount. This rate can cost a contractor a job. A big contractor is only paying an average of 1 percent. Sureties may be more secure with big
...contractors. — But when and how do we get the opportunities to get big and compete with a better edge?
We are licensed as a general contractor and a mechanical contractor and registered engineers. We do structural fabrication, build cranes, do concrete plus Class A general construction. The track records required by sureties are impossible to attain from a young company. The SBA route is a ton of paper to plow through and very dicey on acceptance unless you're a disadvantaged or minority contractor.


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