Posts by EmoryDay
What Do Insurance Companies, Banks, and Surety Companies Have in Common?
Banking, insurance, and surety companies are all critically important relationships for construction companies. There are subtle differences in the relationships to be sure, but they are also closely interrelated. For example, a company’s bank line of credit can have a significant impact on its ability to get bonded. Working capital, bank LOC, operating income, and…
Read MoreCan You Get Bonded If Your Company Has A Negative Net Worth?
Over our 25 years in the surety business, we’ve met some excellent, successful contractors who thought they couldn’t get a surety bond because their company had a negative net worth. Nothing could be further from the truth. In fact, the SBA doesn’t even consider your company’s net worth when they look at bonding capacity. If…
Read MoreSurety Bond Pro Discusses Effective, Sure-Fire Accounts Receivable Management Strategy
Anyone who has ever had an ownership position in a business knows how stressful and challenging accounts receivable can be. Construction companies are uniquely aware of these challenges. Almost half of all new businesses will fail in the first five years of operation. And this is often caused by poor AR collection practices, especially in…
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