The Department of Transportation (DOT) offers two(2) types of funding to small businesses.

- Short Term Lending Program (STLP)

- Bonding Education Program (BEP)

These are funding that small businesses can access and utilize to grow their businesses if they meet the funding requirements. 

 

 

Short Term Lending Program (STLP)
The STLP program enables small businesses to gain access to the financing they need to participate in transportation-related contracts.

The maximum loan amount is $750,000

Interest Rate is tied to the Prime Rate published in the Wall Street Journal.

The loan term is 1-5 years.

Approval turnaround time is 30-60 days.

The eligibility requirements are:
 
- DBE Certified or SBA Certified under Section 8(a)
- Small Disadvantaged Business
- HUBZONE Empowerment Contracting Program
- Service-Disabled Veterans
- Startup businesses are not eligible to apply for the STLP.
- It is recommended that a business have an established track.

To apply and access this loan program visit the STLP website.
Bonding Education Program (BEP)
The US Department of Transportation (DOT) Bonding Education Program (BEP) is partners with the surety industry to help small businesses become bond ready.  This program is tailored to businesses competing for transportation-related contract

Eligibility requirements include:

To be considered for the program, applicants must be the primary owner(s), key manager(s) or administrator(s) of a business that meet the following criteria:

- Existing in business for at least (2) consecutive years

- Revenue of at least $250,000 annually

- Have a minimum of (2) full time employees (including owner)

- Past performance in construction industry

- Pursuing transportation-related contracts

- Interested in satisfying credit, capacity and character evaluations in consultation with a surety representative

- Have one of the following certifications/designation
   - Small Businesses
   - DBE
   - HubZone
   - SDB
   - Service Disabled Veteran Owned Business          
   - Veteran Owned Small Business
   - Women Owned Small Business
   - 8(a)

Consultants, developers and engineering firms are not eligible for the program

The company must also be capable of bidding on DOT-funded projects and commit to attend the series of workshops offered in their region.


To access and use this line of funding visit the DOT Bonding Education Program website.