The document discusses options for getting approved for a surety bond if an applicant is facing difficulties due to tightened underwriting standards or reduced credit scores. It recommends broadening the search for an agent who can write "sub-standard business" by placing higher premiums or requiring additional collateral like a letter of credit, cash collateral, or personal promissory note. Using these sub-standard options through a larger agency that has relationships with more providers may allow an applicant to obtain the necessary bond.

1. I’ve had my Surety Bond for years and now I can’t get approved. What can I do?

2. Why is this Happening? New bonding requirements by the states. Economy downturn has tightened qualification standards.

4. Stricter Underwriting Guidelines

5. Loss of Assets

7. Guess what . . . It’s not your fault. It’s time for action.

8. What We Recommend . . . Broaden your search for someone to write the bond.

9. What We Recommend . . . All insurance companies have agency minimums. If you’re problem is credit, you need an agent who can write sub-standard business.

11. Cash Collateral

13. Cash Collateral Cash Collateral refers to you posting cash that can be returned after a credit score increase or 1-2 years of a good ‘track record’.

14. Personal Promissory Bonds issued off of your business’ financial health may require the owner to personally back the bond.

15. Does this solve the problem? It can. You can get your bond with a larger agency, who has sub-standard providers. Don’t ignore this - Get bonded.

16. Our Takeaways . . . Broaden your search. Talk to more agencies. Seek out Sub-standard options.

17. Produced by the SuretyBonds.com Education Center www.suretybonds.com/edu www.suretybonds.com/blog