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Bonding
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The following is a sample of the wide range of community-based lenders, banks, and crowdfunding sources that the Pace SBDC works with to provide access to small business financing:
NYS Surety Bond Assistance Program
New York State Surety Bond Assistance Program
The State of New York established the NYS Surety Bond Assistance Program, which provides a guarantee of upto 30% to NYS small businesses with at least two years of operations to secure a surety bond line, bid bond, or a performance and payment bond. Guarantees for bond lines and bid bonds will be issued by Empire State Development, and are for NYS and NYC agency let projects. The maximum bond line or project size is $2 million. For more information, contact BAP@esd.ny.gov.
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