Bonds

SBA: Statutory Increases Announced for Surety Bond Guarantee Program

Change Will Give Small Businesses Access to Projects up to $9 Million and Federal Contracts up to $14 Million Today, Administrator Isabel Casillas Guzman, head of the U.S. Small Business Administration (SBA) and the voice in President Biden’s cabinet for America’s more than 33 million small businesses, announced that for the first time since 2013, the SBA is increasing the…

CDFI Fund: CDFI Bond Guarantee Program Application Period for FY 2024 Now Open

The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) today opened the fiscal year (FY) 2024 application period for the CDFI Bond Guarantee Program. A total of up to $500 million in bond guarantee authority is available for Eligible Community Development Financial Institutions (Eligible CDFIs) in FY 2024. Through the CDFI…

SBA: 2023 Surety Companies and Agencies Rankings Announced

 Today, the U.S. Small Business Administration announced its most active surety companies and agencies for fiscal year 2023. The SBA’s Surety Bond Guarantee (SBG) Program allows small businesses to receive critical backing to compete for major federal, state, and local contracts. In fiscal year 2023, with the assistance of the SBG Program and its surety and bonding…

CDFI Fund: $300 Million Bond Financing Guarantees Issued for Projects in Low-Income and Distressed Communities

U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced today that Treasury has agreed to issue three guarantees totaling $300 million under the Community Development Financial Institution (CDFI) Bond Guarantee Program. The guarantees will be issued on behalf of three Eligible CDFIs under the fiscal year (FY) 2023 round of the…

CDFI Fund: FY 2023 CDFI Bond Guarantee Program Application Period Opens

The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) today opened the fiscal year (FY) 2023 application period for the CDFI Bond Guarantee Program. A total of up to $500 million in bond guarantee authority is available for Eligible Community Development Financial Institutions (Eligible CDFIs) in FY 2023. Through the CDFI…

CDFI Fund: $355 Million in Bond Funding Announced for Projects in Low-Income Communities

U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced today that Treasury has agreed to issue three guarantees totaling $355 million under the Community Development Financial Institution (CDFI) Bond Guarantee Program. The guarantees will be issued on behalf of five Eligible CDFIs under the fiscal year (FY) 2022 round of the…

SBA: Improved Surety Bond Process Announced to Provide Streamlined Support for Local Infrastructure Contractors

Improvements are expected to increase and speed access to opportunities related to Infrastructure Investment and Jobs Act The U. S. Small Business Administration (SBA) announced changes today to streamline the submission of Work-in-Process (WIP) information small businesses provide when receiving bonding support through the Surety Bond Guarantee (SBG) Prior Approval Program. Surety bonding is required for any business to bid on…

CDFI Fund: FY 2022 CDFI Bond Guarantee Program Application Period Opened

The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) today opened the fiscal year (FY) 2022 application period for the CDFI Bond Guarantee Program. A total of up to $500 million in bond guarantee authority is available for Eligible Community Development Financial Institutions (Eligible CDFIs) in FY 2022. Through the CDFI…

CDFI Fund: Treasury Guarantees $100 Million in CDFI Bond Funding

Treasury Guarantees $100 Million in CDFI Bond Funding The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced today the approval of a $100 million guarantee under the fiscal year 2021 round of the Community Development Financial Institutions (CDFI) Bond Guarantee Program. The guarantee will be issued to Bank of America…

CDFI Fund: Public Comments Sought on CDFI Bond Guarantee Program Materials

The U.S. Department of the Treasury, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995, Pub. L. No. 104-13 (44 U.S.C. 3506(c)(2)(A)). Currently,…