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USDOT DBE Bonding Assistance Program

Posted By Administration, Monday, February 22, 2010

The American Recovery and Reinvestment Act (ARRA) included $20 million in funding to enable the U.S. Department of Transportation (USDOT) to provide bonding assistance to disadvantaged business enterprises.

The USDOT has now established a DBE Bonding Assistance Program that will provide reimbursements to small and disadvantaged businesses for the bonding premiums and fees they incur when they compete for or perform work on projects funded by ARRA. Assistance is available to prime contractors or subcontractors working at any tier to reimburse premiums for performance, payment, or bid bonds; reimbursements can also be obtained for fees charged by the Small Business Administration.

This funding must be used for bonds issued before September 8, 2010 – so it is imperative that disadvantaged businesses begin to submit their applications as soon as possible.

To be eligible to participate in this program, a business must be a certified Disadvantaged Business Enterprise and have a current Dun and Bradstreet Number. More information about this program is available on the USDOT’s website at: http://osdbu.dot.gov/bap/.

Tags:  arra  bonding  dot  stimulus 

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