Your First Bond
Ask The Surety Pro – Chris Ruck Shares How to Address Personal Credit Challenges
Contractors, your personal credit score does impact your ability to get bonded — but a lower score doesn’t automatically disqualify you. In this episode of Ask The Surety Pro (0:53), our Vice President, Chris Ruck, shares how to address personal credit challenges — and offers a framework for explaining your situation to a surety company…
Read MoreMy 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…
Read MoreMy Credit Score Has taken a Hit During the Pandemic. How Do Poor Credit Scores Impact Access to Bonding?
Donzaleigh Powell of Anderson & Catania Surety Services offers some encouraging advice to those whose credit has been hit hard by the pandemic, or who may have low credit scores in general. What personal credit scores are considered acceptable to surety companies? We don’t always get an exact score range, but generally, FICO scores 650…
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