My Company Has A Low Net Worth. Can I Still Obtain Surety Bonds?

Can low net worth prevent contractors from getting bonded? Net worth and working capital are the two primary factors that traditional surety companies look at first when evaluating a contractor for bonding. But what if you have low, or no, net worth?  The Surety Bond Guarantee Program, or SBG, might just be the solution you’re…

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Why 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…

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Can You Get Bonded If Your Company Has A Negative Net Worth?

Can You Get Bonded If Your Company Has A Negative 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…

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Why Are Personal Guarantees Required for Surety Bonds?

Why Are Personal Guarantees Required for Surety Bonds

Joe Catania, President of Anderson & Catania Surety Services, discusses the reason why owners of construction or contractor companies must sign a personal guarantee with a surety company. What does it mean to offer a personal guarantee to a surety company? The owners of the company sign with a personal guarantee, so in addition to…

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