The United States Small Business Administration has announced changes to streamline the submission of work-in-progress information by small businesses that receive bonding support through the SBA’s Bonding Guarantee Pre-Approval Program. A surety bond is required for any company wishing to bid on most major construction projects. The SBA Surety Bond Guarantee program supports surety bonds for small businesses wishing to submit qualified bids in partnership with surety companies and their agents, enabling them to offer surety bonds and bonding capacity to small businesses that might not otherwise be eligible. With the implementation of XBRL technology, users will now be able to use a free Microsoft Excel-based template and application to prepare and submit WIP reports in a machine-readable format directly to the capital access financial system. Those using this process can update a small business’s WIP in seconds, regardless of the number of projects in the WIP report, according to the SBA. “NASBP has been encouraging greater automation for years, so we’re thrilled with the SBA’s decision to embrace automation of WIP reporting data, which will help all surety stakeholders,” said Mark McCallum. , CEO of the National Association of Surety Bond Producers.