Bad Credit Surety Bond Guide

Can I get a bond with bad credit?

Yes; however, whether you can get approved will depend on the exact bond type you need and the severity of your credit issues. You can get a license and permit bond with bad credit. If you need a court bond, you can get approved if you only have moderate credit issues. For contract bonds, you can only get approved if you are a larger contractor with strong business financials.

Top 5 Things You Need To Know

Frequent Questions

Surety companies use your credit history of handling previous obligations as a tool to assess how you might handle future obligations. Depending on the nature of the risk of the bond, this is often a good reflection of your potential to cause a claim. Exceptions are made for extenuating circumstances, such as medical issues.

Yes. We have access to exclusive programs, including a bad credit bond program, which most other agencies don't. You can get an online license & permit bond quote instantly on our website, even if you have a bankruptcy in your credit history. It is possible to get a contract or court bond after a bankruptcy, but it must be discharged several years ago and explained in detail.

Due to bulk volumes, we write bonds for people with bad credit at lower rates than any other agency. However, most bond programs will still look at credit as a factor for determining the rate, which credit flaws can only affect negatively.

Yes. Getting bonded with no credit history is not a problem for license & permit or court bond requests. However, small contract bonds cannot be obtained without good credit. Large contract accounts with strong business financials may be able to qualify, even if the owners lack personal credit history.

Typically, no. Smaller contract accounts are based strictly off of personal credit and there are no high risk programs. Larger contract accounts might be able to qualify, but you will need strong CPA business financials.

Yes. You can get an online approval for license & permit and miscellaneous bonds. It is difficult to get approved for court or contract bonds with a tax lien, but it is possible depending on the explanation and amount of liens.

Usually, yes. However, it depends on the circumstances and amount of collections. Most underwriters are willing to overlook medical collections or small collections that have been satisfied.

In most cases, yes. For contract bonds, it may prevent you from getting approved at all. Open public records never have a positive effect on your assessed risk.

Surety Bonds do not protect you

The bond is a form of insurance for your clients, which is why many businesses proudly list that they are bonded on their marketing material. However, you will be required to reimburse the bonding company should a claim be paid out.

Why you must avoid claims at all costs

Fidelity Bonds protect your business

You can protect your business from employee theft and fraud by purchasing a fidelity bond. You can read more in our fidelity bond section.

What's your bond cost?

Bond costs vary by applicant, bond amount, bond type & the agency you choose. You can get a general idea of costs using our Quick Estimate tool to the right or an exact quote instantly online!

Why our rates are so low

When it comes to surety bond insurance, there is safety in numbers. As the largest volume writer in the country, we are able to obtain the lowest rates from the strongest bonding company partners.

What does a surety bond cost?

How to get the lowest rate

We're here to help

Getting bonded can be intimidating. We can help you sort through it all! There are no dumb questions. Ask us whatever you need.

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