Resources for NASBP Members and their Clients

• New NASBP Toolkit 2.0 -- Resources for Stakeholders & Surety Professionals
• NASBP Blogs
• NASBP Virtual Seminars
  
• SBA Paycheck Protection Program Loans and CARES Act information
• NASBP Podcast "Let's Get Surety"
• NASBP SmartBrief enewsletter articles
• Electronic execution of surety bonding information, and more
  Please check this webpage often, because NASBP will be updating it regularly with additional information and articles.

New NASBP Producer Communications Toolkit 2.0 is now available! Go to the Be Guaranteed to Succeed website to access materials to help our industry talk about surety in a new and compelling way during these unprecedented times. Direct stakeholders to the pulldown menu at "Resources"-- these are specific to their needs. Remember, you'll need your NASBP login to access the Toolkit PDF that provides you links to new social media content, updated messaging to talk about surety with stakeholders, and a plethora of other resources. Make sure to check it out today!







Registration is now open for the NASBP Fall Meetings. Join us in Chicago, IL, September 15-17 for the NASBP East Meeting and October 27-29 in San Diego, CA, for the NASBP West Meeting.

View recordings of all NASBP Virtual Events held in 2020 and 2021 at the NASBP Virtual Events page. (Requires NASBP login.)

For information on the operating status of NASBP, click here.

Sign-up for NASBP SmartBrief to get the week’s latest news on the coronavirus.

NASBP SmartBrief, NASBP’s FREE e-newsletter, conveniently brings the news that matters to surety professionals, project owners, public officials, subcontractors, contracting officers and others every week.

For older issues of NASBP SmartBrief, visit the Archive.

NASBP AND SFAA URGE EMERGENCY ACTION REQUIRING ACCEPTANCE OF ELECTRONIC EXECUTION OF SURETY BONDING DURING THE COVID-19 PANDEMIC

Recent Articles Regarding Electronic  Execution of Surety Bonding
"NASBP and SFAA Issue Revised Electronic Surety Bonding Guidelines"
Pipeline, May/June 2021

"For Bonding Producers, Digitization Gives a Competitive Edge"
By Tugrul Topaloglu of Tinubu Square
Pipeline, March/April 2021

"Electronic Bonding, Digital Adoption, and COVID-19"
By Adam Gussen of Tinubu Square Americas
Surety Bond Quarterly, Winter 2020 

"Electronic Signatures for Surety Bonds: Widespread Adoption Needed"
By Larry LeClair of NASBP and Julie Alleyne of SFAA
Construction Executive, November 2020, Special Section: 18th Annual Contractors' Guide to Surety Bonding

"Moving Toward Digital Bonds – A Challenging but Necessary Endeavor"
By Mark H. McCallum of NASBP
NASBP Pipeline, September/October 2020, CEO Comments

Surety Industry Letters Sent to Federal, State, and Local Entities
The National Association of Surety Bond Producers (NASBP) and the Surety & Fidelity Association of America (SFAA) jointly have urged federal, state, and local officials, without delay, to issue emergency action regarding acceptance of the electronic execution and delivery of construction surety bonds and commercial surety bonds. 

View the press release: FINAL_Post_RequestForEmergencyActionRelease_4_6_20.pdf
View the white paper: SFAA-NASBP_Request_for_Emergency_Action_Federal_Memo.pdf
View the letter sent to Congressional leaders: SFAA-NASBP_Congressional_Request_for_Emergency_Order.pdf
View the letter sent to Federal Agency leaders: SFAA-NASBP_Federal_Request_for_Emergency_Action.pdf
View the letter sent to state governors: SFAA-NASBP_State_Request_for_Emergency_Action.pdf
View the accompanying white paper sent to state governors: SFAA-NASBP_Request_for_Emergency_Action_State_Memo.pdf
View the letter sent to municipal leaders: SFAA-NASBP_Municipal_Request_for_Emergency_Action.pdf
View the letter to the Chief Acquisition Officers Council: CAOC_Letter_42020.pdf

Government Agency Notices
Small Business Administration Procedural Notice: Acceptance_of_Electronic_Signatures_in_the_Surety_Bond_Guarantee_Program__SBG_.pdf

U.S. Department of Defense issues Class Deviation: 
https://www.acq.osd.mil/dpap/policy/policyvault/USA000941-20-DPC.pdf 
Read the joint NASBP and SFAA press release: DOD_Joint_release_SFAA_NASBP_Final_5_5_20.pdf

General Services Adminstration issues order:GSA_CD-2020-05_-_Digital_Signatures_for_Bonds.pdf
Read the joint NASBP and SFAA press release: FINAL_GSA_Press_release.pdf

Paycheck Protection Program and other
CARES Act Information

• PPP Loan Forgiveness Application Form and Instructions for Borrowers
• PPP Loan Forgiveness Application Form 3508EZ and Instructions for Borrowers 
• PPP Loan Forgiveness Application Form 3508S (for PPP loans of $50,000 or less) and Instructions for Borrowers

Update March 15, 2021:
SBA has posted updated PPP FAQs:

• Frequently Asked Questions: PPP-FAQs-3.12.21.pdf (sba.gov)
• How to Calculate First Draw Loans: How to Calculate First Draw PPP Loan Amounts (sba.gov)
• How to Calculate Second Draw Loans: HowtoCalculateSecondDrawFAQs-3.12.21.pdf (sba.gov)

• Interim Final Rule on Loan Forgiveness Requirements and Loan Review Procedures as Amended by Economic Aid Act (Released 1/19/2021)
• PPP Loan Forgiveness Application Form 3508 (Revised 1/19/21)
• PPP Loan Forgiveness Application Form 3508EZ (Revised 1/19/21)
• PPP Loan Forgiveness Application Form 3508S (Revised 1/19/21)
• Borrower’s Disclosure of Certain Controlling Interests (Released 1/19/2021)
• Press Release—60,000 PPP Loans Approved in First Week

Update January 17, 2021:
SBA, in consultation with the Treasury Department, has recently released additional PPP guidance and resources:

• How to Calculate Maximum Loan Amounts for First Draw PPP Loans and What Documentation to Provide – By Business Type (Released 1/17/2021)

• Procedural Notice - PPP Borrower Resubmissions of Loan Forgiveness Applications Using Form 3508S, Lender Notice Responsibilities to PPP Borrowers, and Offset of Remittances to Lender for Lender Debts (Released 1/15/21)
• Procedural Notice - Paycheck Protection Program Excess Loan Amount Errors (Released 1/15/21)
• Helpful Reminder for This Round of PPP - Make sure the PPP First Draw Loan number is included in the Second Draw PPP Loan application

As part of the Second Draw Borrower application, Applicants must enter the SBA loan number of the First Draw PPP loan (i.e. the loan that was originated in 2020).  SBA loan numbers have the following format to help borrowers identify the SBA loan number of their first PPP loan: XXXXXXXX-XX (i.e. eight numbers followed by a dash and then two more numbers).   PPP lenders should make SBA loan numbers easily accessible to their borrowers.

Update January 13, 2021:
SBA, in consultation with the Treasury Department, has recently released additional guidance:

• Procedural Notice – First Draw Paycheck Protection Program Loan Increases After Enactment of the Economic Aid Act (Released 1/13/21)

SBA will reopen the Paycheck Protection Program loan portal to small lenders ($1B or less in assets) for First and Second Draw applications on January 15, 2021 at 9:00 a.m. ET. The portal will open to all participating PPP lenders on Tuesday, January 19, 2021 for First and Second Draw loan applications.

NASBP Podcast
"Let's Get Surety"