Free surety bond program for women and minority-owned small businesses in New Jersey

Last year New Jersey’s Essex County Office of Small Business Development partnered with The Surety & Fidelity Association of America to provide a free surety bond program to women and minority business owners in the area. The next installment of the program, called the Essex County Bonding Readiness Program, will kick off on April 14.

The program was founded in 2010 to give women and minority small business owners a fair opportunity to compete for contracts. By taking part in the program, women and minority business owners gain access to information and resources that can help them get a surety bond or bond line, as well as increase their current bonding limit.

On the county’s website, Essex County Executive Joseph N. DiVincenzo  says:

“The Bonding Readiness Program is a unique opportunity for vendors to enhance their knowledge of the government procurement process and network with financial and lending institutions that can help them grow their businesses. We are proud of what has been accomplished during the first year of the program and look forward to building on our success.”

The program lasts for eight weeks and offers one-on-one counseling sessions with surety bond professionals.

According to the program’s website, ideal candidates should have:

  • Minimum of two years business experience
  • Financial records covering profit and loss
  • History of successful project experience
  • Commitment to complete the program

To register for the next installment of the program that starts on April 14, qualified business owners can call 973-621-5420 or e-mail [email protected].

For more information on New Jersey surety bonds, click here.

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