(a) In order to be eligible for consideration for program assistance, a contractor must be a small business, a certified minority-owned business enterprise or a certified women-owned businesses enterprise that is unable to obtain a bond from a surety company without program assistance.

(b) The corporation may provide each surety company that participates in the program with additional requirements or guidelines on contractor eligibility, such as minimum years in businesses, contract performance history, revenue limits or minimums, or other factors. The surety company may be required to verify information regarding program eligible contractors or to secure such assurances from prospective program eligible contractors as the corporation may deem necessary.