The U.S. Small Business Administration (SBA) Form 990A, known as the Quick Bond Guarantee Application and Agreement, is a crucial document for small businesses seeking bonding assistance for contracts up to $400,000. Designed to be filled out by both the small business (the applicant or principal) and the surety company, this form facilitates access to necessary bonds for businesses that might not qualify through traditional means. It outlines detailed instructions, including business and contract information, management and ownership details, and certification regarding eligibility criteria such as participation in SBA's business development programs, previous contract defaults, and SBA loan history. Additionally, it covers the surety's role in providing a bid bond or final bond, reflecting the estimated or final contract amounts, and outlines the terms and conditions under which the SBA agrees to guarantee the bond. The form serves as a binding agreement between the small business, the surety, and the SBA, aiming to help small enterprises compete more effectively for contracts by assuring the obligee (the project owner) of the completion of the project or payment to subcontractors and suppliers.
| Question | Answer |
|---|---|
| Form Name | Sba Form 990A |
| Form Length | 11 pages |
| Fillable? | No |
| Fillable fields | 0 |
| Avg. time to fill out | 2 min 45 sec |
| Other names | sba dc, sba bonds, sba bond, form quick application |