The Urban League Entrepreneurship Center will hold a free Surety Bonding workshop on Tuesday, Aug. 27, from 11:30 a.m.-1 p.m., at the Urban League Office, 730 East M. L. King Blvd.
The Urban League Entrepreneurship Center is partnering with the U.S. Small Business Administration, the city of Chattanooga’s Office of Multicultural Affairs and the Tennessee Governor’s Office of Diversity Business Enterprise. The purpose of the workshop is to provide information to construction contractors and other type business owners who periodically have to meet surety bonding requirements in order to participate on larger size jobs.
"Today many small and minority contractors and business owners are challenged with securing surety bonds for a variety of reasons such as previous job size experience, net worth, available financing, etc.," said Warren E. Logan, Jr., president and CEO of the Urban League of Greater Chattanooga. "In addition to an explanation regarding SBA’s 90 Percent Guaranty Program, we will have some surety bonding agents available to answer questions regarding their underwriting requirements and what local contractors can do to meet those requirements. This is especially important considering the city of Chattanooga and other opportunities that are on the brink of opening with an emphasis on small and minority business utilization. The Governor’s Office of Diversity Business Enterprise will also be sharing contract opportunities available on the state level."