SBA Bond Program | IFB Insurance Services

The SBA Surety Bond Guarantee Program is design to work for you and your business needs. Increase your Contract limits by financial statement levels that are immediately available. To determine your business level of eligibility prior to seeking a surety bond, call IFB Insurance Services today and consult with an SBA appointed agent to receive advice on meeting the requirements for approval.

SBA Surety Bond Program Eligibility

The SBA QuickBond program is a streamlined application process to reduce your business paperwork requirements.

QuickBond Program up to $500,000:

Eligibility Requirement:

Credit Report

1 Year Business Tax Return

5 % to 10% working capital

Project Size

Up to $2,000,000:

3 Years Business Tax Returns

In-Progress Work Schedule

5 % to 10% working capital

Year-End Financial

CPA Compliation or In-House plus (To include aged A/R & A/P schedules & no negative liabilities)

$2,000,000 – $3,000,000:

3 Years Business Tax Returns

In-Progress Work Schedule

5 % to 10% working capital

CPA Compilation or

In-House Plus (To include Aged A/R & A/P schedules & no negative liabilities)

$3,000,000 million plus:

3 Years Business Tax Returns

In-Progress Work Schedule

5 % to 10% working capital

CPA Review

$5,000,000 – $10 million:

3 Years Business Tax Returns

In-Progress Work Schedule

5 % to 10% working capital

CPA Audit

*In-House Plus : In-House Plus financial statements are defined as a high quality, computer generated year-end financial statements. These financial statements must include aged schedules of accounts receivable and accounts payable, updated accumulated depreciation, updated current and long term debt, and a classified equity section that updates from the previous financial statements.

Bond Guarantee Fee

Performance and payment bond guarantees require small businesses to pay the SBA a fee of 0.60% of the contract price. If for some reason, the bond is cancelled or not issued, the SBA will return the full guarantee fee. The SBA does not charge a fee for bid bond guarantees.