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CDOT Launches New Bond Assistance Program for ESB Contractors

04-Jul-2019 to 19-Nov-2019

CDOT recently announced a new program that will assist CDOT-certified Emerging Small Businesses (ESB) become prime contractors on CDOT construction and maintenance projects by guaranteeing 50% of a small contract bond. The Bond Assistance Program (BAP) is another way CDOT is removing barriers and helping small to medium-sized contractors compete on a level playing field for CDOT construction contracts up to $3 million for work such as striping, sound walls, drainage, ADA Curb Ramps, and more. 

The BAP is intended to assist ESB firms that are ready to move from subcontracting into prime contracting directly with CDOT but are unable to obtain the necessary bonds to do so. The program can be used to obtain an initial performance bond or to increase the the firm's aggregate to take on additional work. ESB firms can apply for the program at any time to prepare for a potential CDOT project opportunity. The program includes a free evaluation and "score" to help determine the firm's financial capability and strength. Contractors can be matched with a surety or work with their current surety to build upon w hat they already have in place. CDOT and partner Lockton are offering resources and support along the way to ensure ESB firms are set up for success!

Check out the eligibility requirements and get started today!