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WASHINGTON – Effective today, small businesses that need surety bonds to compete for construction and service contracts can qualify for U.S. Small Business Administration-backed surety bonds of up to $5 million. The higher amount, a result of the Recovery Act, is more than double the previous $2 million maximum surety bond guaranteed by SBA.
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Online Request for SBDC Counseling
I wanted to follow up with our friends at SBA on which items, specifically, we should be aware of that are relevant to small business owners in terms of translating the stimulus package to action.
John Banks, Lead Business Development Specialist in the Philadelphia District Office, was kind enough to spend some time creating an informative email to me, outlining exactly what the American Recovery Reinvestment Act has in store to stimulate lending. John has given me permission to copy his email thoughts to this Blog. You will find them below.
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Online Request for SBDC Counseling
