Posts by EmoryDay
When Do Underbillings Become a Concern for Bonding Companies?
An underbilling can be caused by something as simple as missing a billing cycle or as significant as an omission on a project estimate, and a lot of things in between. But underbillings can become an issue that causes your bonding company to raise a red flag. So when does an underbilling become an issue…
Read MoreWhat Do Construction Bankers Look for When Reviewing A Working Capital Line of Credit Loan Application?
Bryan LePage, Vice President and Relationship Manager at M&T Bank, is an outside contributor to AC Surety. Today Bryan discusses the construction line of credit evaluation process in 2023. Are you a commercial or government-sector construction company considering the options for a credit facility in 2023? There are great opportunities for construction companies to get…
Read MoreCan an Owner or Shareholder Distribution Impact My Bonding Capacity?
Construction company owners and shareholders often ask us about the impact of shareholder distributions on bonding capacity. And the answer may surprise you. In the past, shareholder distributions were often viewed negatively by surety companies. But things have changed in recent years. So what do you need to know about distributions in today’s world of…
Read MoreWhy is My Bonding Company Asking for a Continuity Plan?
Surety bond companies need to know that projects will be completed in the event of an untimely death, extended absence, or disability of a construction company owner or key employee(s). Without a continuity plan in place, the unexpected loss of a key owner or employee(s) can create a chaotic situation for contractors and potentially their…
Read MoreIs it easier to qualify for IRS COVID-19 Employee Retention Credits (ERCs) for tax year 2020 or 2021?
Craig Brogan, CPA, an outside contributor to AC Surety discusses how contractors can determine if they’re eligible to receive a significant ERC refund check for tax years 2020 and/or 2021. craig.brogan@brogancpa.com(410) 610.8464 The IRS is still issuing employee retention credit (ERC) refunds for companies that retained employees during the COVID-19 restrictions in tax years 2020…
Read MoreCan Construction Companies Still Apply for an IRS Employee Retention Credit (ERC) In 2022?
Craig Brogan, CPA, Principal at Brogan and Company, LLC, discusses how contractors may be eligible for up to $7000 per employee in credits from the IRS, that’s $7k per employee, per quarter for TY 2021. The IRS is still issuing payroll credits for companies that were negatively impacted by COVID-19 during tax years 2020 and 2021.…
Read MoreAccounts Receivable Collections-Real Stories from Real Contractors!
Anderson & Catania Co-Founder, Richard Anderson, offers another inspiring AR collection story from the front lines! We love helping our contractor clients find the perfect surety solution. We also like to help them in any other way we can, like assistance with collecting their hard-earned money! Have any of you ever had trouble collecting an…
Read MoreThe Anderson & Catania Surety Team Welcomes Surety Expert Tony DeMartino!
Anderson & Catania welcomes Tony DeMartino, a surety professional with decades of industry experience and exceptional customer service, to the AC surety team. Tony DeMartino has decades of experience on the underwriting side of the business as well as the brokerage side. Tony helped train our Co-Founder and CEO, Joe Catania, at his first job…
Read MoreWelcome, Gemma Fendler, to the Anderson & Catania Surety Team!
Anderson & Catania welcomes Gemma Fendler, a consummate surety professional with 30+ years of experience, to the team. Anderson & Catania is proud to announce that another exceptional, highly experienced surety professional has joined our team. Gemma Fendler has over 32 years of surety experience spanning all aspects of the industry. Gemma spent 20+ years…
Read MoreDoes an Automatic Bank Sweep Affect My Ability to Obtain Surety Bonds?
Anderson & Catania Senior Surety Bond Producer, Tony Demartino, provides some excellent insights on how to manage bank sweeps associated with commercial LOCs. Commercial bank lines of credit can be an excellent way to manage your business’s short-term obligations and expenses, like payroll, accounts payable, etc. The problem can be that most banks require you…
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