Posts by EmoryDay
How often do bonding companies want to see a contractor’s financial statements?
Surety companies will periodically need to see their construction company clients’ financial statements. Here’s what you need to know. Surety companies need to monitor the financial health of their clients for the duration of a bonded project. We always want to ensure your profitability first and help keep you out of any potential danger zones…
Read MoreHow do bonding companies evaluate job risk?
Risk is a part of life, and that’s especially true in the contracting industry. So how do surety bond companies evaluate project risk? Having aided our clients with surety services for more than thirty years, we have gained valuable insights from our contractor clients. One of the most significant insights we’ve gained pertains to how…
Read MoreThe Anderson & Catania surety team welcomes Chris Ruck, the latest addition to our team of dedicated surety professionals.
Anderson & Catania is proud to announce the latest highly experienced, highly respected surety professional to join our team. Chris Ruck has over 30 years of surety industry experience serving commercial and government construction companies. He has worked extensively with surety companies and underwriters to service clients ranging in size from Global 1000 firms to…
Read MoreWhat special talents and qualities do you always expect to see in successful construction company owners and operators?
In the surety services business, we often marvel at contractors who gain a high level of success in the ultra-competitive construction industry. We’ve been serving our construction company clients with their surety bonding needs for over three decades. And we never cease to be amazed at the qualities that construction company owner-operators demonstrate—day after day…
Read MoreCan contractors use the SBA’s Surety Bond Guarantee Program to bond a single project?
Typically your surety services partner is going to look at your overall working capital when evaluating a surety bond, but that’s not always the case. In the contracting business, we recognize that a contractor’s overall working capital can fluctuate based on the completion stages of different projects, payment cycles, and many other factors. That’s why…
Read MoreWhen 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…
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