CCI Surety, Inc is an underwriter for Contract, Commercial and Miscellaneous Surety Bonds.

Posts Tagged ‘Payment Bond’

Biggest Quick Bond Program

Written by Jim Dillenburg on . Posted in Bid Bonds, Payment Bond, Performance Bond, Surety Bonds

Biggest Quick Bond Program

How to get biggest quick bond program

Quick programs work very well until you reach the upper limit of the bond program. Moving your client from one credit based quick bond program to another and searching biggest quick bond program is one option. Inevitably, even the biggest quick bond program will have a cap. Rather than a constantly moving your account to different sureties in a never ending search for the biggest quick bond program, you can set them up in a dynamic program with CCI Surety. We will start your contractor off in a quick bond program only if necessary. Our underwriters are experienced in growing with contractors that have some challenges. As soon as your contractor is ready for larger projects we can start increase their line, even without CPA Prepared financials.

Declined by biggest quick bond program

You may also work with contractors that get declined by a quick bond program before even getting to the biggest quick bond program. CCI Surety also specializes in working with contractors that have been declined by quick bond programs. CCI Surety’s programs could include contractors with low credit scores, past financial difficulties, or lack of financial sophistication. We have flexibility to find the biggest bond program possible for your contractors, even with challenges.

Low Credit Score Bond App – $400,000 and Under – Payment & Performance or Bid Bonds

2 Page Application for Low credit score Bond Situations

The CCI Surety Small Contractor Program is designed for contractors that have a low credit score situation that is limiting their bond capacity or causing them to be completely declined for bonds. There is no minimum credit score requirement for this program. Experience and other factors are weighed more heavily. This program is designed for construction projects $400,000 and under. This program also does not require company financials to qualify!

Low credit score Bond situations come in many forms and we see a lot of accounts that have low credit score or other challenges. Obtaining a bond when you have low credit score can be challenging for contractors and insurance agents that do not have a relationship with a surety that handles low credit score bond situations. CCI Surety handles low credit score bond accounts on a daily basis and our underwriters are trained to look beyond the low credit score score to look for opportunities to underwrite the bond. It may take more work but if your client has other strong attributes or experience then our underwriters will do their best to turn the low credit score bond situation into an opportunity. There are many ways to get started if you are facing a low credit score bond need. You can call CCI Surety directly or use the ‘connect with an underwriter’ area on this page or “Chat Now” below during business hours. It is also possible to get started with the applications below:

SHORT APPLICATION for Low credit score Bond Situations

Low Credit Score Bond App for Large Payment & Performance or Bid Bonds

CCI Surety can also handle large Bid or Performance and Payment Bonds when there is a low credit score situation. The application portion is the same as smaller projects but we need a little more supporting information. On larger projects where there is a low credit score score situation, we may need more company and personal financial information. We have many options, even on larger projects.

FULL SUBMISSION for projects over $400,000

Low credit score Bond – Commercial Application

Low credit score Bond situations can also come in smaller forms. These types of low credit score bond situations usually fall into our commercial bond department. There are many types of commercial, probate, court, and miscellaneous bonds. Contact us directly if you are not sure what type of bond you need, or if you have been declined for any type of bond due to a low credit score score.

Don’t see the application you need? Contact Us
There are many types of additional commercial bonds that we can handle.


License and Permit Bond Application
Motor Vehicle Dealer Bond Application
BMC – 84 (Freight or Property Broker) Bond Application
Wage & Welfare Bond Application
Utility Bond Application
Liquor Bond Application
Lost Title Bond Application

Probate/Guardian Bond Application

Civil Court Bond Application

Business Service Bond Application

ERISA Bond Application

DEMPOS (Medicare) Bond Application

Fidelity/Crime Protection Bond Contact Us
-This type of bond varies by type and amount, send us more information about the bond need to receive the correct application

Low credit score Bond – Performance Payment Application

Bid, Payment & Performance Bond Application
SBA Bid, Payment & Performance Bond Supplemental Page Application
Subdivision Bond Application
SBA Quick Application

If you are not sure which bond to use, contact us.

 

Jim Dillenburg

CCI Surety

[email protected]

 

SBA Bond Specialist

CCI Surety handles Low Credit Score Bond situations Nationwide with experienced underwriters in each office.

Our Home Office handles Low credit score Bond situations in Maine, Vermont, New Hampshire, Massachusetts, Connecticut, New York, Pennsylvania, New Jersey, Rhode Island, Delaware, Maryland, Virginia, West Virginia, Ohio, Kentucky, Arkansas, Texas, Oklahoma, Kansas, Missouri, Illinois, Indiana, Michigan, Wisconsin, Minnesota, Iowa, Nebraska, South Dakota, North Dakota, Montana, Wyoming, Colorado, Idaho, Oregon, Washington, Hawaii, Alaska, and Washington D.C.

Our Southeast Region Office Handles Low credit score bonds in Florida, Georgia, Alabama, Mississippi, Louisiana, Tennessee, North Carolina, South Carolina, and Tennessee

Our Southwest Region Office Handles Low credit score bonds in Arizona, California, Nevada, New Mexico, and Utah

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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 submissions or applications 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 because of low credit score or other financial situations. 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 $400,000 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 – 2017 Top SBA Surety Bond Agent – 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

Larger Bonds

Written by Jim Dillenburg on . Posted in Bid Bonds, Payment Bond, Performance Bond, Surety Bonds

Larger Bonds

Contractors can be pre-qualified for larger bonds

CCI Surety focuses on helping contractors obtain larger bonds. Sometimes a contractor may be able to qualify for bonds through quick programs that limit the size of project that can be bonded. With standard markets, larger bonds often require CPA prepared financial statements in order to qualify. CCI Surety makes every effort to extend surety credit for larger bonds without requiring CPA financials.

Getting Started on Larger Bonds over $400,000
CCI Surety can start to pre-qualify contractors for larger bonds from applications and submissions that have already been filled out for other markets. If no applications have been previously filled out, you can start with the CCI Surety Application for larger bonds.
No Minimum Credit Score for Larger Bonds
Credit score is also a factor when applying for larger bonds. CCI Surety is a non-standard bond market. Although we do review credit for problems, there is not a specific minimum credit score that is required in order to qualify for most types of bonds. Contractors may still qualify for larger bonds, even if they have been declined because of a low credit score.

In addition to Bid, Performance and Pyament, and many other types of Contract Bonds, our commercial surety bond department handles a wide variety of other types of bonds.

WE MAY BE ABLE TO QUOTE COMPANIES DECLINED FOR LOW CREDIT SCORE OR OTHER FINANCIAL ISSUES.

If you have any questions about surety bonds declined for low credit score or need more information about our Bond Application, don’t hesitate to contact us.

– Jim Dillenburg [email protected] 866-317-3294

 

Bond Declined for Low Credit Score

 

 

 

Our Home Office handles Larger Bonds and other surety bond 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.
Our Southeast Office handles Larger Bonds for contractors in Alabama, Florida Georgia, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee
Our Southwest Office handles Larger Bonds for contractors in Arizona, California, Nevada, New Mexico, and Utah

 

 

 

 

P3 Projects

Written by Jim Dillenburg on . Posted in Uncategorized

P3 Projects or Public Private Partnerships

P3 Projects in the news

There is bipartisan agreement in Washington, D.C. that an infrastructure bill is needed. How that agreement is made and when it is passed remains in question. One thing that appears certain is that P3 Projects are going to be a part of the solution. P3 Projects are design to get private dollars involved in projects that have a public benefit. This could be infrastructure projects that have been delayed but that could benefit a particular business. In many cases, P3 Projects may allow a private entity to invest in the project to expedite its completion.
1. Public Protection on P3 Projects
On normal Federal Government (and most government construction at any level) projects, contracts over a certain size determined by the Federal Miller Act are protected by surety bonds. In short, a surety bond ensures that the public project will be completed and that all subcontractors and suppliers on the project will be paid appropriately.
Private projects may or may not have surety bond requirements included. As P3 Projects become more popular, it is important for government entities at all levels include specific language requiring bonds on P3 Projects at the total contract value.
2. Total Value of P3 Projects
It is important that the entire P3 Project is bonded. In some past cases, bonds were accepted at a lesser amount. This still leaves public money and interests at risk. Conflict over responsibility on completion of the project or payment to subs and subcontractors typically cannot be divided between public and private, therefore the entire project needs to be bonded.
2. Action Items on P3 Projects
Specific infrastructure language on a Federal level bill in not in place at this time. State level bills and language vary by state. In the build up to new P3 Projects, it is important that you reach out to legislators at all levels to make sure bond requirements on P3 Projects remain in place in the same way they are on all public projects. Be available to legislators to answer questions and create appropriate bill language.

If you have any questions or need more information about bonds on P3 Projects, don’t hesitate to contact us –

Jim Dillenburg
[email protected]
866-317-3294

 

P3 Projects

P3 Projects across the country

 

 

 

Our Home Office handles larger bond line 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.

 

 

 

 

 

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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 a larger bond line. 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

New SBA Bond Guarantee Program

Written by webadmin on . Posted in Uncategorized

This February we were excited to report the increases to the new SBA Bond Guarantee Program. In March, we are even more excited to report that we are already having success utilizing the program for bonds that would have previously been too large for the SBA Bond Guarantee Program. Most recently, our Florida Office was able to get a $5.2M project in Georgia written. Our experience utilizing the current SBA Bond Guarantee Program increases your chance to successfully place your client’s bond.

Don’t hesitate to contact us if you have any accounts that don’t fit your standard markets, or if you need a second non-standard opinion. Although the SBA program is exciting we have many different tools we can utilize to get the job done.

Sincerely,
Jim Dillenburg – [email protected]

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Our Southeast Region office handles bad credit bond situations in Alabama, Florida, Georgia, Louisiana, Mississippi, North Carolina, and South Carolina.

Our Home Office handles bad credit bond 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.

SBA Details

Written by webadmin on . Posted in Uncategorized

All of the accounts we work on are non-standard, which means they always have at least some challenges. Even though we’ve had a long history of success utilizing the old SBA Guarantee Program limits, I was interested to see how working with larger contracts would go. Working closely with the SBA, agent, and contractor we were able to overcome all challenges. This is a deal that would not have been completed without the support of the SBA Bond Guarantee Program.
~ Andrea J. Haight
Assistant Vice President
CCI Surety of FL, Inc.

SBA Bond Program Limits Increase

Written by webadmin on . Posted in Uncategorized

SBA Increases Project Size Limit to $10M – details:

Previous Maximum
$2M per project

New Maximum Project Size

$6.5M – On any bond, subject to normal underwriting consideration outlined in the previous SBA Guidelines
$10M – Possible on any bond, subject to normal underwriting consideration outlined in the previous SBA Guidelines and performed for a Federal Government Agency

Underwriting Authority

CCI Surety will continue to use our in-house underwriting authority to approve bonds and maximize our expertise working directly with the SBA Bond Guarantee program

Small contractors have varying levels of financial reporting and the SBA allows for varying levels of reporting based on contract size.
Financial Documents Required

Required
Financial Year End (FYE) statement (prepared within 90 days)
Minimum 6-Month Interim statement

Minimum Financial Statement Requirements

Project Size FYE Interim

Up to $1.0M In-House In-House

$1.0M – $2.0M Compilation In-House
(One-time Only)**

$1.0M – $10.0M Review Compilation

*With Verification
**In-house interim financials potentially accepted once

Business Size
Allowable business sizes based on total sales and the number of employees are determined by NAICS code and vary depending on the type of business. Total sales can be as high as $33.5M in many cases.
SBA Paperwork The SBA has greatly reduced the amount of paperwork needed to utilize the program. In addition to our normal underwriting documents there are only Two 1-page SBA forms, that need to be filled out.

Negative or Insufficient Working Capital

Escrow Agreements/Funds Control + 5% Escrow Deposit The SBA recognizes the value of utilizing escrow agreements and funds control to potentially mitigate risk on projects. Utilizing an escrow agreement and funds control process in addition to a 5% deposit into the escrow account allows CCI to utilize the program even if the contractor has negative or insufficient working capital.
Additional Options Although not typically used, additional forms of collateral or other considerations such as third party indemnity can also be utilized to approve a contractor for the SBA.

SBA Bond Program Made Easy – Basic Guidelines

Written by webadmin on . Posted in Uncategorized

Project Size
Up to 2x the largest completed project ($2M maximum per individual project)

15 to 20x available working capital (for all projects)
– Lines of Credit are included as working capital
– Contractors with negative working capital may also be eligible using additional tools

Business Size
Allowable business sizes based on total sales and the number of employees are determined by NAICS code and vary depending on the type of business. Total sales can be as high as $33.5M in many cases.

SBA Paperwork The SBA has greatly reduced the amount of paperwork needed to utilize the program. In addition to our normal underwriting documents there are only Two 1-page SBA forms, that need to be filled out.

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