Objective
The State Small Business Credit Initiative (SSBCI) is expanding the New York State Surety Bond Assistance Program (NYSBAP) with $22 million in funding. The program provides technical and financial assistance to help contractors secure surety bonding. Contractors may be eligible to receive a guarantee of up to 30%, or $600,000, whichever is less, to secure a surety bond line, bid bond or a performance and payment bond on publicly funded or government-led projects.