What does SBG mean? Read on to discover the definition & meaning of the term SBG - to help you better understand the language used in insurance policies.
The surety bond guarantee (SBG) program is program run by the U.S. Small Business Administration (SBA) to guarantee bid, performance and payments bonds for individual contracts worth $6.5 million or less for small and emerging contractors. To be eligible, they would need to meet the requirements of the SBA; however, the program is helpful because in many cases, these contractors are not able to obtain surety bonds through the available regular commercial channels.
We hope the you have a better understanding of the meaning of SBG.