CITY AND COUNTY OF SAN FRANCISCO
City and County of San Francisco – Surety Bond & Contract Financing Assistance Program
Celebrating and empowering a diverse and vibrant community
The City and County of San Francisco is the second-highest density metropolis in the United States and home to an historically diverse, cosmopolitan population fast-approaching one million. As Northern California’s major economic center and one of the most influential regions in the country, San Francisco has frequently been on the leading edge of initiating positive social change. Applying the forward-thinking principles of inclusion and innovation to community and economic development, the City and County of San Francisco (CCSF) created the Surety Bond & Contract Financing Assistance Program to increase participation of underrepresented Bay Area contractors in city and county construction projects. CCSF’s Surety Bond & Contract Financing Assistance Program offers local contractors a range of services, from technical support to financial assistance. In addition to fostering greater opportunities for local business enterprises, the program has resulted in long-term cost savings to participating municipalities, in part by expanding the pool of qualified contractors able to bid on public sector projects.
Photo Above: San Francisco International Airport, by Håkan Dahlström (CC by 2.0), via Flickr
Surety Bond & Contracting Finance Assistance Program Services include:
- Personalized assessments of contractors’ current business capacity and growth opportunities, including development of a workplan to help strengthen contractor business.
- Individualized technical and contract-specific support, as well as group workshops on bonding, financing, industry best practices and business management.
- Help securing required insurance and bonding.
- Bid, performance, and payment bond guarantees to surety companies (up to the lesser of 40% of the bond amount or $750,000).
- Contract financing guarantees to banks (up to the lesser of 50% of the loan amount or $750,000).
- Coordinating Third Party Fund Administration to manage contract disbursements.
- Project Risk Management/Problem Resolution on projects.
- Safety training.
- A cost subsidy of up to $3,200 and referrals to receive a certified public accountant’s assistance in creating necessary business financial statements.
- Assistance with creation of marketing materials.
- Events and other opportunities to create professional alliances with Program Prime contractors, peers, and public agency staff through networking, matchmaking and referrals.
Cost: Program services are sponsored by the City and County of San Francisco and, with the exception of a $500 participation fee for the preparation of business financial statements, all services are provided at no charge to participating Contractors.
Department of Public Works
Department of Recreation and Parks
Port of San Francisco
San Francisco International Airport
San Francisco Municipal Transportation Agency
San Francisco Public Utilities Commission
Enrollment Eligibility: For City and County Projects, contractors must be certified with the San Francisco Contract Monitoring Division as a Local Business Enterprise (LBE).
To learn more about obtaining LBE certification and getting approved for participation, please visit here.
Fostering sustainable business and community development.
By implementing small business-friendly policies of unbundling contracts, creating set-asides, and providing vital support through the Surety Bond & Contract Financing Assistance Program, the City and County of San Francisco has helped hundreds of contractors gain access to local business opportunities, including the many ongoing projects at the San Francisco International Airport. As the seventh busiest transit airport in the United States, San Francisco International Airport serves over 47 Million passengers annually and is a major contributor to Northern California’s overall economy. Hundreds of thousands of workers are employed either directly for the airport or indirectly through suppliers of goods and services related to the airport.
Photo: Courtesy of San Francisco International Airport (click on photo to enlarge)
Growing the local economy by creating accessible opportunities
As the President of Pilot Construction Management, Inc., Lina Tan has considerable experience in engineering and construction and was eager to participate in the CCSF’s Surety Bond & Contract Financing Assistance Program. With help in obtaining bonding and the technical and contractual support provided by the Program, Lina successfully bid on and completed several major projects, including installing fall protection systems and retrofitting hangar doors at the San Francisco International Airport, installing air conditioning units on several City‐owned buildings, and providing underground fuel tank certification and repair throughout the City.
“The Airport was the key organization that helped me stay in business during the economic downturn. Partnership with San Francisco Airport’s Planning, Design and Construction Department, and with The City of San Francisco’s Surety Bond and Contract Financing Assistance Program has helped me grow my business from doing $300,000 projects to $7 million projects. I can’t thank the Airport and the City enough for their support.”
– Lina Tan, President, Pilot Construction Management, Inc.
Photos: Courtesy of Lina Tan, Pilot Construction Management, Inc.
(click on photos to enlarge)
Are you a contractor interested in participating in the City and County of San Francisco’s Surety Bond and Finance Program?
Email email@example.com, call 415.986.3999 or click on the button below to contact us now.
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