SuretyBonds.com now accepting applications for 2015 small business college scholarship

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The team at SuretyBonds.com feels privileged to help small business owners launch their business ventures and meet their business goals on a daily basis. We understand that surety bonds are a confusing part of the start-up process, but we’re here to help you meet your state’s and industry’s requirements quickly, easily and accurately so that you can get back to doing what you do best: running your business.

We also know that running a business isn’t the only thing our customers have on their plates. Most of them have families and — in an economic environment where owing an independent business doesn’t always guarantee bringing home a steady income — it can be stressful, at times, to make ends meet.

We want to help, and that’s where the SuretyBonds.com Small Business Success Student Scholarship Program comes in.

To put it simply, we understand the value small businesses add not only to our economy but also to the communities we live and work in. So, to show our appreciation, we’re paying it forward by establishing a nationwide scholarship program to reward students who have personal experience with small business. We’re awarding $1,500 college scholarships to three students whose lives have been shaped by small business experience.

Who’s eligible?

Any student who will attend college classes full time in the fall 2015 semester AND has small business ownership experience whether personally or through a parent, grandparent or legal guardian is eligible to apply for the SuretyBonds.com Small Business Success Student Scholarship Program.

For more official rules, visit www.suretybonds.com/scholarships/official-rules.

What’s involved?

To apply for the scholarship, students should fill out the entry form on our scholarship website. The essay gives our scholarship committee the opportunity to understand how small business has shaped the lives of each of our applicants.

To apply, complete and submit the entry form at www.suretybonds.com/scholarships/apply.

What’s the timeline?

Scholarship applications are now available online. Applicants must submit their entries by 11:59 p.m. CST on March 31, 2015.

Then, the SuretyBonds.com scholarship committee will read through all of the applications and select the 10 most deserving applicants. These applicants’ essays and photos will be featured on the SuretyBonds.com blog and special Facebook voting application. Public voting begins on May 1 ends May 31. The 3 finalists with the most votes will each receive a $1,500 scholarships and will be notified and announced on Facebook on June 3, 2015.

What’s next?

To be entered to win the SuretyBonds.com Small Business Success Student Scholarship Program, students should submit their applications online before the March 31, 2015, deadline. Applicants who are selected as part of the top 10 finalists must provide a photo to be used during the voting process.

We need your help to make this year’s scholarship program a success! If you know a student who meets the requirements, share this information and encourage him or her to apply. If you’d like to feature information about the SuretyBonds.com Small Business Success Student Scholarship Program through your media outlet, email Scholarships@SuretyBonds.com. Last year, we received over 500 applications, and we hope to receive even more this year. To exceed this goal and to help the future entrepreneurs of our country further their higher education endeavors, we need your help!

For more information, to view past winners and to apply, visit www.suretybonds.com/scholarships. Read our motivation behind the scholarship program here.

As SuretyBonds.com founder and CEO Josh Kayser says, “We’re blessed to be in a position of growth, so this scholarship program is our way of giving back to those who are on the ground floor, creating jobs, and fighting the good fight right along with us.” We can’t wait to read your stories. Good luck!

Surety Bonds 101: How do I get a surety bond?

Business professionals come to SuretyBonds.com because they’ve been told they need a surety bond by the government agency in charge of licensing/registration for their city/state and industry. Most of the time, these professionals have no idea what a surety bond is, why they need one, how to get one and how much their bond will cost. That’s where our experts come in. Our surety specialists do all of the hard work for you to ensure that you get the surety bond you need quickly, easily and accurately, but we make it a priority to inform our clients about the bonding process from start to finish. We believe that the more you know, the more comfortable you’ll feel allowing us to complete the bonding process on your behalf.

Today, we’re taking a look at how to obtain a surety bond. We’ve broken the process down into 6 easy steps:

  1. Verify which surety bond you need.
  2. Apply for a surety bond.
  3. Get a free, personalized surety bond quote.
  4. Pay for your surety bond.
  5. Verify the information on your bond.
  6. File your surety bond.

To further explain each of the steps in the bonding process, the experts at SuretyBonds.com have created this video guide:

How To Get a Surety Bond: A 6 Step Guide

There are many different types of surety bonds and each one has different nuances to consider. Some bonds can be issued instantly, while others can take up to 48 hours, but the general process to obtain a surety bond is fairly consistent. If you have questions about the bonding process or are ready to purchase the surety bond you need to remain in compliance with the laws of your state and industry, give us a call at 1 (800) 308-4358 between 7 a.m. and 7 p.m. CST Monday through Thursday or from 7 a.m. to 6 p.m. CST on Friday. Or, you can submit a quick online contact form, and one of our experts will contact you right away. Our specialists are here to answer any questions you have and to get you set up with the bond you need quickly, easily and accurately.

To learn more about the bonding process, take a look at SuretyBonds.com’s original infographic. Read more about the topic here.How to Obtain a Surety Bond

Louisiana enacts licensing and surety bond requirements for mortgage servicers

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On June 30, 2014, Act 260 (HB 807) was put into effect by the Louisiana Office of Financial Institutions. The Act adds licensure requirements for professionals engaged in residential mortgage servicing, which is defined as a means of collecting or remitting payment for another or the right to collect or remit payments for another relative to the principal, interest, tax, insurance or other payment under a mortgage loan.

The Act subjects mortgage servicers to the same licensing requirements (application, renewal and surety bond) as other mortgage brokers and lenders in the state. Mortgage servicers must comply with the new licensing requirement — including the posting of a surety bond —  on or before June 30, 2015. The new mortgage servicer licensing requirements, including the surety bond amount, have not been released yet.

If a professional is currently licensed in Louisiana for mortgage brokering or lending activities, there is no requirement for an additional license to perform mortgage servicing. However, if a professional performs mortgage servicing for Louisiana consumers, he or she must designate mortgage servicing as a “business activity” of their Louisiana license in the NMLS (Nationwide Mortgage Licensing System) online licensing system.

The experts at SuretyBonds.com make every effort to stay up-to-date on new surety bond requirements. We’ll feature new information regarding this upcoming surety bond requirement for Louisiana mortgage servicers as soon as we have it. In the meantime, call 1 (800) 308-4358 between 7 a.m. and 7 p.m. CST Monday through Thursday and between 7 a.m. and 6 p.m. on Friday. Or, contact us online 24/7.

Arizona Board of Nursing enacts surety bond requirement for nursing assistant education programs

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In July 2013, the Arizona Board of Nursing enacted a surety bond requirement for individuals, partnerships and corporations that offer refresher courses for nurses. On August 29, 2014, the Board of Nursing adopted regulations for nursing assistant education programs.

As part of Arizona Administrative Code R 4-19-802, private individuals, partnerships or corporations offering a nursing assistant program must post a surety bond from a surety company with a financial strength rating of “A-” or better as determined by Best’s Credit Ratings, Moody’s Investor Service, Standard and Poor’s rating service or another comparable rating service as determined by the board. The bond must be in an amount of at least $15,000. The bond is for the benefit of students or former students with a valid claim for instructional or program deficiencies. The bond must be maintained for 24 months following the closing of a program.

These changes went into effect on September 8, 2014.  NPA Article VIII, R4-19-802 (A) (3)  states the following:

“Programs approved by the Board before the effective date of this Section shall comply with subsection (A) (2) within one year of the effective date. If a program does not charge tuition or fees, the bond requirement will be waived.

This means that private individuals, partnerships or corporations offering a nursing assistant program that has already been approved have until September 8, 2015, to comply with the new surety bond and licensing requirements. The surety bond form can be found on the Board’s website in the CNA Education section.

The experts at SuretyBonds.com are familiar with this bond requirement and are here to answer any questions you have and help you get the surety bond you need quickly, easily and accurately. Give us a call at 1 (800) 308-4358 Monday through Thursday from 7 a.m. to 7 p.m. CST or on Friday from 7 a.m. to 6 p.m. CST. Or, submit an online bond request 24/7.

Surety Bonds 101: How much does a surety bond cost?

Business professionals come to SuretyBonds.com because they’ve been told they need a surety bond by the government agency in charge of licensing/registration for their city/state and industry. Most of the time, these professionals have no idea what a surety bond is, why they need one, how to get one and how much their bond will cost. That’s where our experts come in. Our surety specialists do all of the hard work for you to ensure that you get the surety bond you need quickly, easily and accurately, but we make it a priority to inform our clients about the bonding process from start to finish. We believe that the more you know, the more comfortable you’ll feel allowing us to complete the bonding process on your behalf.

Because most cities/states and industries require surety bonds as part of the licensing process, business professionals should account for the cost of their bond in their start-up budget. But, how can you do that when you don’t know how much your bond will cost?

Several factors impact the price you’ll pay for your surety bond, including:

  • the bond type/amount of risk associated with the bond
  • your personal credit report and other financial credentials (if necessary)
  • the required bond amount
  • the term of the bond

Some bonds can be issued instantly for a flat rate without a credit check, while others require underwriting consideration. To explain further, the experts at SuretyBonds.com have created this guide to surety bond premiums:

Because there are so many different types of surety bonds and each one has a specific underwriting process, it’s impossible to make a blanket statement about how much surety bonds cost. The best way to find out how much you’ll pay for your surety bond is to connect with our team of experts by phone at 1 (800) 308-4358 or online. The SuretyBonds.com surety specialists are here to answer all of your questions and provide you with fast and easy bonding services.