Surety Bond Assistance Pilot Program RFI
Massachusetts > MassDevelopment > Finance Division
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MassDevelopment is conducting an RFI to inform development of a five-year Surety Bond Assistance Pilot Program for economically and socially disadvantaged small and medium-sized contractors. The program may include surety guarantees, direct loans or grants, and technical assistance intended to help contractors participate in, bid on, and secure publicly funded capital-project contracts. The RFI seeks responses from two provider groups: technical assistance organizations and surety bond companies. Technical assistance providers are asked to describe services such as bond-readiness assessments, financial-statement preparation, accounting-system setup, credit improvement, working-capital planning, bid preparation, and contract management, along with proposed fees, intake processes, staffing, capacity, and geographic reach. Surety bond providers are asked to discuss available bond products and pricing, common reasons applicants are declined, underwriting flexibility, historical loss rates, guarantee structures, additional bonding capacity, and recommended intake, screening, technical-assistance, and referral processes. Responding is voluntary and does not commit MassDevelopment to a future procurement or contract.
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