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Understanding the nuances of the construction industry and how the surety world views it, is the difference between a successful surety management group and a typical bond placement agency.
With years of construction and surety industry experience coupled with the personal touch we apply to our relationship with you, we are able to see the hurdles before they happen and find the solution before the need.
We have numerous specialty programs that help the new and emerging contractor grow when need be, as well as access to the large cap sureties that can maintain and grow with even the largest contractor.
Contract Bond Programs
> Contracts up to $400,000.00 with a total program totaling $800,000.00
This program is based on credit alone in most individual cases. Generally a credit score of 650 or better is preferred, however we have other solutions if you don’t.
> Hard to place bonds up to $250,000 for smaller contracts
Based on credit scores alone as low as 575. Scores below 575 will require additional information.
> Contracts up to $1 MM with a total program totaling $1.5 MM
This is an exciting class of business. For some it’s a smaller highly profitable and easily managed business, while for others it’s a big step toward the next level. With a limited financial presentation we will help you with, we have numerous standard and hard to place options in this category.
> Over $ 1MM single limits or any limits
When getting a bond, especially from a new market, it can be overwhelming. There is a lot of information and the way it is presented needs to be perfect in order to maximize your potential relationship with the surety. Don’t worry, we have you covered. The Surety Place is widely known as providing some of the best submissions in the country. We will walk you step by step through the process, ask all of the right questions the surety will ask and present them with answers before they do. By doing this, we automatically start off with good footing to get the surety to partner with you. We are in the business of writing surety bonds, the only way we grow is if you grow, and we love it when our partners WIN.
> Small Business Administration “SBA”
All people and all companies need help at some point. The SBA is there to help emerging companies’ get through the barriers of growth; and in some cases stop the bleeding and get you pushed back in the right direction. By guaranteeing a large portion of the risk to the surety, the SBA allows smaller contractors establish a history of bonding when they may not otherwise qualify.
However, the process can be daunting. We make it easier. For contracts as much as $2MM, the SBA can be a key resource in your company’s long-term success. As your partner, we will help you achieve it.
How to Apply for a Surety Bond
The underwriting process for small contract bonds and large contract bonds vary. Here you will find forms your client will need to fill out in order to submit this bond request to the Surety Company for approval.