We pride ourselves in helping our clients obtain the best surety bond solutions the industry has to offer. We know that the better the underwriters know you and your business, the better your bond relationship will be both in terms of your normal program support, including unusual bond requests.
NHC is one of the largest bond only agencies in the USA. We have over 80 surety partners. Last year we provided bonds for over $8,000,000,000 in penal sum bonds. This is not said to impress you, but to impress upon you what the volume, strength and quality of our relationships can bring to the table when you have a need for a bond. We are also one of the largest providers of bonds for the Small Business Administration bond guarantee program. Even if you are a small or emerging contractor finding it hard to get bonded, we can utilize everything above to attempt to get it done.
What are the requirements to obtain bond support above 2,000,000 on a single project?
Provide the latest fiscal year-end CPA reviewed financial statement. Include as well a current interim financial statement. If CPA statements are not available please provide an In-house Year-end balance sheet, Income statement with matching aging accounts receivables and accounts payables.
Current Work in Progress
Bank reference letter
Personal Financial Statements – Provide a current personal financial statement on each owner
Resumes of not only owners but key employees with a focus on previous and current experience. Detailing key roles, project sizes, scopes of work.
References from your various completed projects as well as any awards and accomplishments.
With experience, typically a surety will extend credit up to 2X your largest project completed to date. As we mentioned bonding is subjective so at times exceptions can be made.
Typically rates range between .05% to 3% of the final contract price, determined predominantly by credit, experience and financial strength of the company and owners.
Fill out the contact form below or give us a call and a surety bond specialist will be in touch to guide you through the process.
NIELSON HOOVER AND COMPANY
220 CONGRESS PARK DRIVE, SUITE 100 DELRAY BEACH, FLORIDA 334455