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$300 Million in Bonding Capacity Offered to Small Businesses through SFAA/US DOT Bonding Edu. Prog.

Monday, June 16, 2014  

300: the Rise of Bonding
The U.S. Department of Transportation’s Office of Small and Disadvantaged Business Utilization is proud to announce the Bonding Education Program (BEP) recently achieved over $300 million in bonding capacity for the nation's small businesses!

(Participants, Stakeholders, SBTRC staff, and BEP Manager at the Dallas Level 2 BEP)

The BEP grew from three pilots in 2010, to 58 programs across the country in 2014, making 230 contractors bond ready in the process.

The BEP takes a proactive focus on the implementation of programs tied directly to major transportation-related projects. The program always aims to include the local transportation entity and prime contractors as major stakeholders. These strategies allow the BEP to connect the BEP Small Businesses with bondability, directly to the contract opportunity.

The BEP is designed to help the small, minority and emerging contractor community become bond ready by providing individualized growth plans for each program participant. The program provides one-on-one sessions with local surety bonding professionals to help in assembling the materials necessary for a complete bond application. This program is tailored to businesses competing for transportation-related contracts.

For information on the BEP, please visit:
www.dot.gov/osdbu/financial-assistance/bonding-education/bonding-education-program

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