Ask the Surety Pro
Is My Bank Line of Credit Counted As Working Capital In The Surety Bond Underwriting Process?
https://www.youtube.com/watch?v=PeOeW410XkQ As a surety broker, we’re often asked about how having a commercial bank line of credit can help contractors grow their ...
Are You Seeing Increasingly Larger Bid Spreads In 2023?
https://www.youtube.com/watch?v=nhAh8K2pCKQ If you answered yes to that question, you’re not alone. So why are we seeing larger bid spreads in the current ...
I currently have negative working capital, and I need to bid on new projects. Can I still obtain bid, performance, and payment bonds?
https://www.youtube.com/watch?v=21AyIJPXj6k That’s a great question that we sometimes get from our clients. Sometimes contractors get overextended in the normal course of business, ...
Does the SBA Surety Bond Guarantee Program (SBG) Evaluate Working Capital the Same Way as Traditional Surety Bonding Companies?
https://www.youtube.com/watch?v=I19wqaDRrUw The need for surety bonding is a critical necessity for contractors to participate in government and commercial contracting at all levels. ...
What Key Parts of a Business Continuity Plan Are Important to a Bonding Company?
https://www.youtube.com/watch?v=PjGWm4rzx8Q Nobody plans to fail. This is especially true for our contractor partners. Unfortunately, though, some contractors fail to plan when it ...
How Do Bonding Companies Determine Whether a Contractor Is of “Good Character”?
https://www.youtube.com/watch?v=EX_UYFdv73E We all want to do business with people and companies of good character, but getting to know a customer can take ...
Does an SBA-guaranteed surety bond replace the need to work with a traditional surety company?
https://www.youtube.com/watch?v=TwlwowbH1lo&feature=youtu.be What you need to know about the SBA's Surety Bond Guarantee Program, aka the SBG. The SBG program is highly beneficial ...
How often do bonding companies want to see a contractor’s financial statements?
https://www.youtube.com/watch?v=dMbTG6Thl_U Surety companies will periodically need to see their construction company clients’ financial statements. Here’s what you need to know. Surety companies ...