Applicants who have low credit scores, bankruptcies, or outstanding payments lingering on their financial records might think they can't qualify for the surety bond they need. However, the surety experts at believe that all business owners and working professionals should have the opportunity to fulfill their potential. experts work hard to approve 99% of applicants for the surety bonds they need despite low credit scores or other financial issues.

How to Get a Surety Bond with Bad Credit

Believe it or not, the process for obtaining your surety bond as an applicant with bad credit won’t be much different than it is for someone with good credit. After completing the application for your surety bond, the rest of the process will be based on whether your bond is instant issue or underwritten.

Instant issue bond applications don’t require a credit check to determine your premium because they are issued at the same price to all applicants. Because the underwriting step is eliminated, you’ll receive your quote back much more quickly and already be approved for the price set by the surety. Common instant issue bonds include notary bondsbusiness service bonds, and bonds for cleaning companies.

Surety bonds that require underwriting consideration must undergo a lengthier process than instant issue bonds. This is where our underwriters perform a soft credit check (or credit preview) to see where your credit stands. But again, don’t worry if your credit is bad. Your credit history will simply help us determine which market you fall into and whether we will need to review any additional documentation. For instance, we may end up needing business or personal financial statements to supplement your credit report to gain a clearer picture of your situation. From here, your surety bond application will be reviewed in its entirety to determine your premium.

If you’re a motor vehicle dealer, a contractor, or a mortgage professional needing a bond for licensing, your bond will likely be underwritten.

Pay a low rate, no matter your score

Because works with so many insurance companies, we have access to some of the lowest rates in the industry. Once you fill out an application, your surety specialist will shop various insurance companies to find you the lowest rate available.

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Financing your premium

To make your bonding experience as stress-free as possible, offers special financing plans in certain circumstances. Financing allows applicants to break up one large upfront payment into smaller, more manageable payments. This option can be especially helpful for new or small business owners who might not have the funds to pay their entire surety bond cost upfront.

How does it work?

When you choose to finance, it works as a three-party agreement between you, the finance company issuing the loan, and the insurance company underwriting the bond.

Premium financing is only available for bonds that may be canceled by the surety, meaning there’s no risk of default if a payment is missed. In this case, the finance company will simply cancel the plan to get its money back. Therefore, your bond would no longer be valid.

How much does financing cost?

Applicants who qualify for financing must pay 30%-40% of the total premium prior to having the bond issued, with the remaining balance to be paid in monthly installments over the next four to six months. Be sure to ask your surety specialist whether you qualify for financing and whether it might be the best financial option for your situation.

Don't let bad credit keep you from getting a surety bond

Other surety providers avoid working with applicants with bad credit because they don't want to take on the extra work or risk. has a different philosophy, which is why we continue to work to find the best price for our customers who have encountered financial difficulties in the past. Getting a bond can be stressful enough; you deserve to work with a surety agency that makes the process quick and easy, no matter your financial situation.

To discuss your specific situation, call our surety specialists at 1 (800) 308-4358 from 7 AM to 7 PM CST, Monday through Friday. We will work hard to get the bond that will move you forward, no matter your circumstances.

Find Your State. Find Your Surety Bond. Get a Free Quote.

Bad credit bond premiums vary greatly by bond type and the state you live in. First, find your state below. Second, find your exact bond type. Third, get an absolutely free quote for your bond. It's that simple.

Call 1 (800) 308-4358 to talk with a Surety Expert