Learn about Net Worth Express
If you are new to bonding or only occasionally require bonds and you’ve been limited to obtaining bonds from the small, credit based programs (i.e. CNA Fast Track or Liberty Mutual’s Quick Bond) and you need to move up to larger bonds (i.e. above $400,000) … well you’ve come to the right place. For 25 years we’ve specialized in getting small contractors their first bond or helping contractors grow their bonding capacity.
The first thing you will need to do is provide us with some basic information. For questions, more information or just to get started please fill out the short form using the green button above, and see below for the list of things we will require.
APPLICATION: Click here to download and complete our Contractor Questionnaire.
FINANCIAL STATEMENTS: We’ll need a financial statement (Balance Sheet and Profit & Loss) from your QuickBooks accounting system as of the last fiscal year end (for example as of 12/31/18). We’ll also need a statement as of the end of the last quarter (i.e. In July you can print your June 30th statement). If you obtain a CPA prepared statement as of the end of the fiscal year, by all means send the most recent version. If you don’t obtain a CPA Statement, no worries! We specialize in getting bonds for contractors who only have internal QuickBooks financial statement.
PERSONAL FINANCIAL STATEMENT: This is a report of your personal assets and liabilities including the ability to give details on important investments like your real estate and savings accounts. To complete your Personal Statement click here to download our form. If you have already prepared your personal statement for your bank loan, feel free to send that instead.
TAX RETURN: We’ll need a copy of the most recent Federal Tax return you’ve filed.
WORK ON HAND REPORT: This report will give us details on all of the jobs you have underway. Click here to download our blank form. From this report we can see your target profit margin, how much of your work has been billed and completed as well as your target completion date and estimated cost to complete your open jobs (aka your backlog).
There is additional information we may need based on the size of the job but this will get us started.
We can generally approve bonding up to $2,500,000 with the above information based upon your experience, profitability, financial strength and credit scores which means you do not need a CPA Statement to get a bond.