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participating lender. During the past several years,
over $4.94 million in loans has been approved to SBMP
contractors for their work on MTA projects.
SBMP contractors also work closely with surety
professionals who assist these contractors in developing
the financial and related documentation to support
increases in their bonding lines. Contractors accepted into
the SBMP spend a total of four years in Tier 1.
THE MTA SMALL BuSiNESS MENToRiNg pRogRAM TiER 2
Upon successful completion of a four-year mentoring
relationship, a company is eligible to complete a four-
year advanced program that provides eligibility to bid on
projects valued up to $3 million.
The contracts are awarded directly, without a mentor
construction manager’s participation, to prepare the
firm to transition to active and independent contract
work with the MTA. Firms must obtain surety bonding or
request and receive MTA assistance in obtaining
bonding in order to participate. The program offers
assistance to obtain bonding. Union transition assistance
is also available to those firms wanting to work as a
union contractor.
SBMP Tier 2 contractors continue to grow their ability to
work on larger and more complex MTA projects. Their
ability to manage their cash flow related to projects and
increase their bonding are important keys to project
success and are an essential part of the work
completed in Tier 2.
Recently initiated, the SBMP Tier 2 graduate program
includes 22 contractors and has already awarded two
contracts totaling $5.5 million to participating firms.
LEARN MoRE
For more information on the SBFP, please visit
web.mta.info/sbdp
