Every week we get inquiries from contractors who need their very first bond. This is a great question and one we love to answer. It is particularly gratifying to give a new client their first bond - of many!
There are different paths forward depending on the circumstances. Each one, each door has different aspects and we'll go over them.
Door Number 1:
Use this door for contracts (federal and all others) up to about $350,000. This is the fastest / easiest program with the first bond approval coming over in about 1 day! Only a one page application is needed - no financial statements. The program is predicated on the work being simple and normal for the client, and personal credit reports of owners and spouses must be acceptable.
