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Article: Surety-bond guarantees going unused.
- Article from:
- San Antonio Express-News (San Antonio, TX)
- Article date:
- September 30, 2006
CopyrightCOPYRIGHT 2006 San Antonio Express-News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Adolfo Pesquera
Sep. 30--The U.S. Small Business Administration wants to help small business contractors who have struggled to obtain bonds since the 2001 terrorist attacks and the most recent recession.
A byproduct of the economic downturn was a decrease in the number of companies willing to underwrite surety bonds, policies that contractors obtain to ensure clients they'll finish a job.
Surety bonds can be guaranteed through the government, but the guarantee program offered by the SBA since 1971 hasn't been aggressively marketed until this year.
The SBA informed its district directors last year that goals would be set for ...