Account Profile – $245,000 Final Bond
An agent approached CCI Surety with a long time Fire Alarm Installation Contractor client that didn’t typically work on bonded projects. Our biggest challenge with this account was the low personal credit scores of both the husband and wife who owned the company.We can often handle accounts that have one or two areas of weakness and we do our best to also identify the positive aspects of accounts. In this case, with a long history of success on projects of similar size and scope, we focused on references. To their credit, all inquiries on their past work came back overwhelmingly positive.
We had verified the performance aspect of the contractor’s capacity but due to the credit situation needed to address the payment security. In this case we used Funds Control to help mitigate payment risks. In the fall of 2015 the project was completed with no claims.
WE MAY BE ABLE TO QUOTE COMPANIES WITH CREDIT SCORE OR OTHER FINANCIAL ISSUES.
If you have any questions or need more information about our Bond Application, don’t hesitate to contact us – Jim Dillenburg [email protected] 866-317-3294
Our Home Office handles SBA Bond Guarantee Program situations in Maine, Vermont, New Hampshire, Massachusetts, Connecticut, New York, Pennsylvania, New Jersey, Rhode Island, Delaware, Maryland, Virginia, West Virginia, Ohio, Kentucky, Tennessee, Arkansas, Texas, Oklahoma, Kansas, Missouri, Illinois, Indiana, Michigan, Wisconsin, Minnesota, Iowa, Nebraska, South Dakota, North Dakota, Montana, Wyoming, Colorado, New Mexico, Arizona, Utah, Idaho, Nevada, Oregon, Washington, California, Hawaii, Alaska, and Washington D.C.
Payment & Performance ★ Bid ★ ERISA ★ Motor Vehicle Dealer Bonds ★ BMC-84 ★ Wage & Welfare ★ License and Permit ★ Commercial ★ Contract ★ Miscellaneous
Please Note: We can always get started working on any bond application that you have already prepared for other markets. CCI Surety, Inc. specializes in hard to place contract bonds that may have previously been declined by other sureties. We use different kinds of tools which allow us the freedom to think outside the box with our underwriting strategy. We are able to get comfortable with difficult situations using escrow / funds control, SBA Surety Bond Guarantee program and working capital deposits as different options to get the bond approved. CCI also has a very successful Easy Start Program for contracts between $250,000 and $1,000,000 that may be obtained with a two page application plus any financial documents that are available. On commercial bond business we handle both standard and non standard business. Contract Bonds – Multiple Markets – Can Provide A+ rated bonds – $3M in-house authority, up to $15M from home office – Quick Turn around – No Agency Requirements SBA Backed Bonds – 2012 National SBA Bond Producer of the Year – Potential to approve bonds even with negative working capital – SBA Bond Program now covers bonds up to $6.5M and in some cases $10M Commercial Bonds – Standard and Non-Standard Bonds – Experienced staff specialized in handling Commercial Bond needs – License and Permit, Fidelity, ERISA, Business Services and Court Bonds – Miscellaneous Bonds