At Construction Bonding Specialists, LLC, we understand that securing bonds is an essential part of a contractor’s ability to win new projects. That’s why we’re excited to share a streamlined program designed to make bonding faster and easier for contractors in Michigan. Whether you’re a small business or an established contractor, our goal is to help you grow by reducing the hassle of the bonding process.
A Bonding Program for Contracts Under $350,000
This bonding program enables us to assist contractors with obtaining bonds for contracts valued at less than $350,000. Designed with efficiency in mind, this bonding process is quick and simple, helping contractors obtain the necessary bonds without the typical lengthy documentation requirements.
How It Works:
- Three-Page Application: Rather than requiring a mountain of paperwork, our program uses a straightforward, three-page application. This allows contractors to save valuable time and get back to focusing on what they do best—completing successful projects.
- No Financial Statements Required: In most cases, contractors need to provide detailed financial statements to secure bonds. However, under this new program, financial statements are not required for contracts valued at less than $350,000. This significantly reduces the complexity and time required to secure a bond.
- Underwritten Based on Personal Credit History: The underwriting for this program is based solely on the individual owner’s personal credit history. This simplifies the approval process, allowing contractors to secure bonds quickly, especially if their business is still in the early stages or if they have limited financial history.
What This Means for Contractors:
- Faster Access to Bonds: With a simplified application process and the removal of financial statement requirements, contractors can access the bonds they need to start work faster. This can be especially helpful when you need to act quickly to seize a new opportunity.
- Increased Opportunities for Smaller Contracts: For contractors working on smaller projects or those who are new to the industry, this program provides an easier path to securing the necessary bonding. You won’t need to worry about complex requirements or delays in getting your bond approved.
- Reduced Stress and Hassle: We understand that bonding can be a daunting task for many contractors, especially when financial documents are required. This new program eliminates that barrier, allowing you to focus on your work rather than paperwork.
Restrictions Apply:
While this program makes bonding easier, there are still some restrictions to consider. The program is only available for contracts valued at less than $350,000. Additionally, because the underwriting is based on the individual’s personal credit history, applicants with certain credit issues may not qualify. However, our team is here to guide you through the process and help you understand your options.
How to Get Started:
If you’re ready to take advantage of this simplified bonding process, we encourage you to reach out to us for more information. Our team is available by phone or email to answer any questions and assist you with the application process.
Don’t let the bonding process slow you down—let us help you secure the bonds you need to move your projects forward. Contact us today to get started on your next job!
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At Construction Bonding Specialists, we work with new and experienced contractors to find the most satisfactory bond solutions. As a dedicated surety-bond-only agency with decades of bonding experience, we strive to discover surety solutions for all types of cases, ranging from routine to challenging. Contact us online or call us at 248-349-6227 to learn more.
Written by the Digital Marketing Team at Creative Programs & Systems: https://www.cpsmi.com/.