SBA: Celebrating 50 Years of Surety Bond Guarantees

The Office of Surety Guarantees will Host a Free, Virtual Conference September 24-25 for Small Businesses

The U.S. Small Business Administration’s (SBA) Office of Surety Guarantees (OSG) will host a two-day virtual conference to commemorate 50 years of Surety Bond Guarantees (SBG).  The conference will assist small businesses seeking surety bonds and discuss SBA’s role in the future of the surety bond industry. 

“For the last 50 years, the public-private partnership of the Office of Surety Guarantees and the surety industry has been a significant and successful collaboration impacting small business growth and job creation in the American economy,” said SBA Administrator Jovita Carranza

In honor of this occasion, OSG will host a free, virtual conference on September 24-25 for small businesses in the construction, supply, and service sectors, along with members of the surety bond industry.  Guest speakers will include Marcus Lemonis from CNBC’s television show “The Profit” and leaders in the surety bond industry. 

In its first year of operations, the program guaranteed seven final bonds with a contract value of approximately $315,000.  Since that time, SBG has assisted approximately 55,000 small businesses, approved 750,000 bond guarantees, and finalized total contract guarantees valued at $150 billion. 

“In the past three years, Surety companies participating in the SBG program have doubled, demonstrating the surety industry’s confidence in utilizing SBA to assist small and emerging contractors,” said Bill Manger, SBA’s Chief of Staff and Associate Administrator for the Office of Capital Access. “SBA’s bond guarantees are accessible and make great business sense for small businesses and project owners.” 
 
To register for this free, virtual event, visit: surety50.com

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