Surety Bond Guarantee Program

Definition of "Surety bond guarantee program"

Jean Hoyle real estate agent
Jean Hoyle, Real Estate Agent Baird & Warner Naperville

Program instituted by the Small Business Administration (SBA) that guarantees a construction contract bond in the event the issuing surety company suffers a loss. This is an effort by the SBA to encourage the awarding of more construction bids to minority contractors.

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