Can 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 you own a business or have purchased a business with a negative net worth, you don’t want to miss this 90-second video from Gemma Fendler, Senior Surety Specialist at Anderson & Catania Surety Services.
The Surety Pro discusses surety bonding capacity based on a bank LOC and working capital, not your net worth. You might also be able to get twice the bonding capacity that standard surety industry practices would provide.
Sit back, relax, and learn how a bank LOC and working capital can supersede a business’s negative net worth in the surety bonding equation. You’ll be pleasantly surprised by the results!