Quick Reference  |  Summary

Minority Business Bonding Program

Purpose

Provides bid, performance and surety bonds to state certified minority-owned businesses that are unable to obtain bonding through standard surety companies.

Program

Eligible businesses must be certified with the State of Ohio Department of Administrative Services Equal Opportunity Division as a Minority Business Enterprise (MBE) or certified by the Ohio affiliate of the National Minority Supplier Development Council. The project must be economically sound and the business must not have defaulted on a previous bond issued by the Ohio Development Services Agency. The business must demonstrate the benefit to Ohio residents by increasing employment opportunities.

For Whom

State certified minority owned business

Program Contact

Minority Business Development Division, Allen McConnell, (614) 752-4833

How Much

The maximum bonding line pre-qualification is $1 million per business. The premium for each bond requested is 2 percent of the face value of the bond.

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