Small Business Administration's Surety Bond Guarantee Program

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Excerpt from Small Business Administration's Surety Bond Guarantee Program: Hearing Before the Subcommittee on Procurement, Exports, and Business Opportunities of the Committee on Small Business, House of Representatives, One Hundred Fourth Congress, First Session, Washington, DC, April 5, 1995 There are three areas that I would like to turn to now in which firms owned by women and those not owned by women reported primary differences in the documents that they were required. They were required more often than not to be asked to provide per sonal financial statements, cpa reviewed financial statements, and corporate tax returns. Last, as you are aware, you asked us for some information about the impact of the streamlining of the Federal Acquisition Stream lining Act. The Act's provision basically increased the requirement from to for future bonding. It will be effective later this year. From our survey, we are able to tell you that this new bonding threshold could eliminate the need for bonding for businesses doing work for the Federal Government. In 1993, we estimated that about 25 percent of the small construction firms in our sarve did not obtain bonds over and therefore we are ab e to project that a minimum of at least firms in the future will be effected by the new limit. Mr. Chairman, in terms of a brief summary and hopefully within my 7 minutes, that concludes my statement today. We in the gao are frantically rushing to get this study published and into a final form. I am sure that everyone is looking forward to trying to figure out what these million and so numbers mean. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully, any imperfections that remain are intentionally left to preserve the state of such historical works.