SBA FORM 994B Surety Bond Underwriting Review

O MB Control No: 3245-0007

Expiration Date:

U.S. SMALL BUSINESS ADMINISTRATION

SURETY BOND GUARANTEE UNDERWRITING REVIEW

Instructions: If the surety company or agent uses a paper submission, it must complete the applicable parts of this form and submit to the Denver or Seattle office. Addresses and geographical distributions can be found on the Office of Surety Guarantees website at www.sba.gov/osg. If the electronic application system is used, a paper copy is not required. The electronic application system can be accessed at www.sba.gov/osg.

SURETY COMPANY

CONTRACTORS BUSINESS NAME & ADDRESS (Inc. County & Zip)

AGENCY / BRANCH OFFICE NAME

SBG NUMBER

PART 1: CONTRACTOR BUSINESS INFORMATION ( COMPLETED WITH INITIAL APPLICATION AND UPDATED ANNUALLY)

TYPE OF BUSINESS

NAICS CODE

TYPE OF CONTRACTUAL WORK THIS FIRM HAS DONE PREVIOUSLY

LARGEST PREVIOUS CONTRACT SUCCESSFULLY UNDERTAKEN? $

LARGEST PREVIOUS WORK PRO- GRAM SUCCESSFULLY UNDERTAKEN? $ # OF JOBS

ANY DISPUTES/DEFAULTS? If “Yes” Include  YES  NO comments

CURRENT PROJECTS ON SCHEDULE? If “No” Include  YES  NO comments

CONTRACTOR EVER FAILED TO COMPLETE JOB?  YES  NO IF “YES” INCLUDE COMMENTS

HAS CONTRACTOR EVER DEFAULTED ON A CONTRACT FORCING A SURETY TO SUFFER A LOSS?  YES  NO IF “YES” INCLUDE COMMENTS

CONTRACTOR HAVE ADEQUATE EQUIPMENT?  YES  NO

CONTRACTOR TAXES CURRENT?  YES  NO IF “NO” INCLUDE COMMENTS

CONTRACTOR INSURANCE COVERAGE SUFFICIENT?  YES  NO

CONTRACTOR PREVIOUSLY BONDED?  YES  NO

LARGEST CONTRACT AMOUNT BONDED AND SUCCESSFULLY COMPLETED? $

PROVIDE NAME OF SURETY/SURETIES?

HISTORY OF AND REASONS FOR SURETY CHANGES?

CONTINUATION SHEETS PROVIDED?  YES  NO

RESUME(S) OF OFFICERS, OWNERS AND/OR KEY EMPLOYEES ON FILE?  YES  NO

CONTRACTOR’S QUESTIONNAIRE ON FILE?  YES  NO

BUSINESS PLAN ON FILE?  YES  NO

INDEMNITIES POSTED? IF “NO” INCLUDE IF “YES” ATTACH COPIES OF INDEMNITY AGREEMENTS AND PERSONAL (Company & Personal)  YES  NO COMMENTS FINANCIAL STATEMENTS ON ALL INDEMNITORS (Including those of third parties unless previously submitted to SBA)

DOES SURETY RECOMMEND FINANCIAL / MANAGEMENT / TECHNICAL ASSISTANCE BY SBA?  YES  NO IF YES, WHAT TYPE & WHY?

PART 2: CONTRACTOR FINANCIAL INFORMATION AND WORK IN PROCESS (Completed with initial application and as required by SBA)

CURRENT COMPANY FINANCIAL STATEMENT ON FILE?  YES  NO

CURRENT PERSONAL FINANCIAL STATEMENT ON FILE?  YES  NO

DATE OF FINANCIAL STATEMENTS

DATE FISCAL YEAR ENDS

FINANCIAL STATEMENT PREPARED BY WHOM?

F/S SHOW DISCLAIMER?  YES  NO

TYPE OF FINANCIAL STATEMENT  CASH  SAMPLE ACCRUAL  % OF COMPLETION  OTHER (Specify)

NET WORTH $ COMPANY $ PERSONAL

NET QUICK ASSETS $ COMPANYS

NET WORKING CAPITAL $ COMPANY

WORKING CAPITAL SUFFICIENT IF “NO” HOW MUCH IS  YES  NO NEEDED? SOURCES?

ALL RECEIVABLES 90 DAYS CURRENT?  YES  NO IF NOT, AMOUNT PAST DUE $

ALL PAYABLES 90 DAYS CURRENT?  YES  NO IF NOT, AMOUNT PAST DUE $

SURETY VERIFIED BANK BALANCE?  YES  NO

AVERAGE BANK BALANCE $

CONTRACTOR HAVE BANK LINE OF CREDIT? YES  NO

CREDIT LINE AMOUNT

WITH WHOM?

SECURED?  YES  NO

TERMS

HOW MUCH PRESENTLY OWING $

HOW MUCH L/C PRESENTLY UNUSED? $

SBA Form 994B (1/13) Previous Editions are Obsolete

HAS SURETY REQUIRED EXTRA SECURITY i.e. A CD OR CASHIERS CHECK FROM CONTRACTOR  YES  NO IF YES: WHAT TYPE INSTRUMENT AMOUNT $ ______________________________________

WORK IN PROCESS REPORT CURRENT AND REVIEWED If no, review your file and attach your report or SBA form 994F  YES  NO

HAS SURETY CHECKED WITH CURRENT SUPPLIERS?  YES  NO

DO ANY SUPPLIERS SHOW PAST DUE 60 DAYS OR MORE?  YES  NO

PART 3: CONTRACT INFORMATION (Completed with every application)

PROJECT DESCRIPTION: OBLIGEE NAME AND ADDRESS: PROJECT LOCATION: OBLIGEE:  FEDERAL  LOCAL  STATE  PRIVATE  SPEC DIST

CONTRACTOR IS ON THIS  PRIME  SUBCONTRACTOR JOB

PROJECT TYPE  CONSTRUCTION  SERVICE  SUPPLY  OTHER (Specify)

PHASED PROJECT  YES  NO

CONTRACT AMOUNT $

 NEGOTIATED  BID

IF BID, BID AMOUNT

IF BID, WHAT IS 2ND LOW BID

BID: DATE & TIME

BID BOND AMOUNT $

PERFORMANCE AMOUNT $

PAYMENT AMOUNT $

MAINTENANCE PROVISION EXCEEDING 2 YRS. IN CONTRACT  YES  NO

MAINTENANCE BOND REQUIRED  YES  NO $ NO. YEARS _______

LIQUIDUATED DAMAGES  YES  NO AMOUNT $ (CALENDAR/WORKING DAY)

SUBCONTRACTORS INVOLVED  YES  NO PERCENT %

BOND REQUIRED BY ORIGINAL CONTRACT DOCUMENT  YES  NO

SCHEDULED STARTING DATE

SCHEDULED COMPLETION DATE

CONTRACTOR STARTED JOB IF “YES” DATE STARTED If “YES” SBA Form 991 must be completed entirely and submitted to SBA before the  YES  NO guarantee agreement can be executed

CHANGE OF SURETY  YES  NO EXPLAIN IN COMMENTS SECTION

DATE OF LAST FINANCIAL STATEMENT

SURETY’S REVIEW

COMMENTS

IN OUR OPINION THE PRINCIPAL APPEARS TO HAVE THE FINANCIAL / MANAGEMENT / TECHNICAL ABILITIES TO SUCCESSFULLY COMPLETE THIS CONTRACT, HOWEVER, I FEEL THIS CONTRACTOR FALLS BELOW THE NORMAL UNDERWRITING STANDARD OF OUR COMPANY, AND WE WILL NOT ISSUE BONDS TO THIS CONTRACTOR WITHOUT THE SBA GUARANTEE. THESE BONDS ARE REQUIRED BY THE ORIGINAL CONTRACT OR BID SOLICITATION.

ATTORNEY IN FACT AGENCY NAME

DATE

TYPE NAME

TELEPHONE NO. (Include Area Code)

TO BE COMPLETED BY SBA

DATE RECEIVED BY SBA

BY (initials)

BASED ON THE UNDERWRITING DATA SUBMITTED:

RECOMMENDATION / ACTION

APPROVE

DISAPPROVE

SIGNATURE

TITLE

DATE

















PLEASE NOTE: The estimated burden for completing this form is 5 minutes per response. You are not required to respond to any collection of information unless it displays a currently valid OMB approval number. Comments on the burden should be sent to U.S. Small Business Administration Chief, AIB, 409 3rd ST., S.W. Washington, D.C. 20416 and Desk Officer for the Small Business Administration, Office of Management and Budget, New Executive Office Building, Room 10202, Washington, D.C. 20503.

SBA Form 994B (1/13) Previous Editions are Obsolete

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