United States Government Publishing Office publisher pbl distributor dst United States Government Accountability Office Resources, Community, and Economic Development Division author aut Government Organization text government publication eng GAOREPORTS Legislative Agency Publications gao legislative 2010-08-12 U.S. Government Printing Office 1994-03-24 monographic deposited born digital GA 1.13:RCED-94-134 https://www.govinfo.gov/app/details/GAOREPORTS-RCED-94-134 P0b002ee1803a53ff f:rc94134 DGPO 2010-08-12 2011-03-24 GAOREPORTS-RCED-94-134 machine generated eng fdlp REPORT GAOREPORTS-RCED-94-134 RCED-94-134 Surety bonds Bid guarantees Small business assistance Small business contractors Small business contracts Minority contractors Program management Insurance companies SBA Preferred Surety Bond Guarantee Program SBA Surety Bond Guarantee Program Letter Report RCED The Small Business Administration's (SBA) Preferred Surety Bond Guarantee Program allows approved insurance companies to issue SBA-guaranteed surety bonds without SBA's prior approval of individual bonds. Surety bonds ensure that a contract will be completed, and supplier and workers paid, should the contractor fail to perform the contract. The goal is to encourage large insurance companies to issue SBA-guaranteed bonds and in turn increase the access the surety bonds by small businesses owned and operated by minorities and disadvantaged individuals. GAO found that the program has boosted large insurance company participation in SBA's bonding activities. The impact on minority firms is unclear, however. https://www.govinfo.gov/content/pkg/GAOREPORTS-RCED-94-134/html/GAOREPORTS-RCED-94-134.htm GAO/RCED-94-134 https://www.govinfo.gov/app/details/GAOREPORTS-RCED-94-134 Letter Report GAO/RCED-94-134; Small Business: Information on Participation in SBA's Bonding Activities; Surety bonds Bid guarantees Small business assistance Small business contractors Small business contracts Minority contractors Program management Insurance companies SBA Preferred Surety Bond Guarantee Program SBA Surety Bond Guarantee Program Public Law 95-507 Public Law 102-190