Can i be bonded with bad credit

Ideally, surety bond companies will look for credit scores higher than and an absence of collections, liens, and judgments.

If your credit score is under , that's usually okay, you will likely just have to pay more for your bond. You do not have to pay the full amount of your bond to get bonded. You will only pay a percentage. Generally, the rate you'll pay is as follows:. The below chart can help you understand how much you might pay for a surety bond if you have good credit and bad credit.

The above chart shows ball-park estimates. Surety Bonds Direct works with an extensive network of reputable sureties all across the United States. Many of these sureties specialize in helping people with poor credit or no credit get the bonds they need. Thanks to these sureties, we can often help you get a surety bond when other insurance companies can't or won't. These sureties are just as reliable as everyone else we work with, and they're all rated "A" or better by the AM Best credit rating agency.

They share our commitment to making surety bonds affordable for everyone and to creating a system where bad credit doesn't have to hold you back from entrepreneurship. On top of that, our advanced bond matching software will help you find a great rate. We work directly with our surety partners , cutting out the middlemen to get wholesale rates for our customers that are often substantially better than other insurance companies can offer.

At Surety Bonds Direct, we leverage all of our available resources to create affordable solutions for your business. Sometimes the rate in your quote will still be too high, particularly if you're buying a more expensive type of bond.

In these cases, we've still got some options on the table to help you lower your bond cost:. You have to think about the cost of the bonds and sometimes the process can be more difficult than it needs to be.

The quick answer is that if you are asking this question, you are bondable. When you are bondable, any future employer is ensured and protected in case of the following while you work for them: You engage in any fraudulent behaviour. You act in a dishonest fashion. We have negotiated rates on the low end of the spectrum so you can get a surety bond with bad credit.

We've bonded people who never thought they could ever get a bond! Worried about a past bankruptcy? Check out this post on getting approved with a bankruptcy. So how is your bad credit cost calculated? To calculate bad credit surety bond costs, think of a function machine.