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How surety bonds can help contractors grow their business
Built with Billd
English - November 29, 2021 10:00 - 25 minutes - 35.2 MBManagement Business Education commercialrealestate construction constructioneducation constructionfinancing contractors funding materialpurchasing materialsuppliers purchasingterms subcontractors Homepage Download Google Podcasts Overcast Castro Pocket Casts RSS feed
In the construction industry, surety bonds are put in place to ensure a project is completed within the terms of the contract.
Contractors who are eligible for surety bonds have greater opportunities to win state, federal, and municipal construction contracts.
GC's typically look for subcontractors that are bonded because it adds an additional level of verification on their previous work history.
What factors go into qualifying for a surety bond?
Strong balance sheet, positive cash flow, availability of working capital, and job performance; to name a few.