See our clients’ experience with Contractor Surety Group:
“An LIHTC developer/contractor/manager in Kentucky was allocated $7,000,000 in tax credits for construction of a 300-unit affordable housing project. The housing authority he partnered up with required a bond, but he had no CPA prepared financial statements. This was simply something he had never done.
He did however have the critical experience of applying for credits, negotiating with debt & equity sides, and successfully completing several affordable housing projects over the years.
The developer had no luck finding a surety agent who knew the LIHTC model. He was turned down time and again until Contractor Surety Group was called in to fix it – and we did. Within the span of one week, we provided a P&P bond at a competitive rate with an AM Best “A+” domestic Treasury listed surety company.”
“A large water and sewer contractor in Virginia was quickly outgrowing its surety relationship. Several million dollars of bids we coming up on the same day, and the agent was nowhere to be found. Three days prior to the bid lettings the contractor called CSG for assistance. Not only did he get him all the bid bonds, he worked with CSG to establish a larger single and aggregate program with a better rate.”
“When a large commercial general contractor in the Carolinas decided he wanted to start bidding work for the U.S. military, his bonding company was hesitant to support. After CSG was brought in to fix the problem, we discovered the contractor had a long history of working with the very architects and engineers that were involved in a number of military jobs. Just two years later, the contractor has successfully completed more than $11,500,000 in bonded military work.”
“A non-union mechanical contractor was presented an opportunity to negotiate a $22,000,000 project. His largest job to date was $9,000,000. “No way” was all he heard from his agent and bonding company. Not willing to give up this life-changing job, the contractor reached out to CSG. Through CSG’s relationships in underwriting, he not only got the bond, but picked up the business of a superb mechanical account in the process.”
“A Texas-based P.E.M.B. contractor was getting ready to sign a $10,000,000 contract to install six buildings for the U.S. Air Force, but his largest job to date was only $1,700,000. When his surety agent was unable to secure the necessary bonds, he turned to CSG. Because the six buildings were identical, CSG successfully negotiated six separate contracts. Upon substantial completion of each building, CSG issued each succeeding $1,600,000 bond, a solution his previous bond agent had never considered.”
“A South Carolina based demolition contractor kept getting pushback from his bonding company. The surety was fine writing bonds all day long for demolition projects, but whenever an asbestos or lead abatement opportunity came along, the surety just didn’t have the ability to perform. This left the account scrambling to find a bond instead of paying attention to making money. CSG established a significant bonding line with one of our surety partners that writes both demo and asbestos/lead/HAZMATS.”