For over 25 years, Bold Concepts® has been enhancing the growth of small businesses. We pride ourselves on providing comprehensive services for Small Business (SB) General Contractors specializing in Federal Construction Programs. We work with various small businesses that have a variety of designations, such as:
- Native American / Tribally Owned
- Historically Underutilized Business Zones (HUBZone)
- Small Business
- Women Owned Small Business (WOSB)
- Service Disabled, Veteran Owned Businesses (SDVOSB)
- Small Disadvantaged Businesses (SDB)
The Enhanced Bonding Program at Bold Concepts maximizes growth, while potentially lowering barriers to a substantial increase in the bonding program, sometimes as much as three-fold.
As a thought leader pertaining to bonding, Bold Concepts uses our strategic program to ensure you and, most importantly, the surety company feels confident with your integrity and financial capabilities.
Capital, Capacity, and Character
With over 30 years of proven experience in the construction industry, Bold Concepts’ Enhanced Bonding Program supplements and works closely with you to strengthen your surety industry Key Performance Indicators (KPI): Capital, Capacity, and Character.
Capital as it pertains to the General Contractor means having the proper financials in addition to a strong balance sheet and equity to support the bond. At Bold Concepts, we assist you with developing the proper practices to build and preserve equity and develop the accounting platforms to effectively present trusted financial reporting formats.
Capacity refers to resources and personnel. Does the contractor have the equipment, experience, knowledge, and skills necessary to complete the job? We provide access to resources proven to the surety broker, provide personnel when needed, and assist you with keeping your operations moving smoothly during high growth periods while mitigating the risk to the surety industry.
Character is exactly what you’d expect: trustworthiness. Does the General Contractor’s record indicate that they have been responsible and have a proven track record of fulfilling their obligations and meeting the terms of their contracts? A solid surety relationship must have faith in one another. The General Contractor must prove they are trustworthy over time. In exchange, Bold Concepts has over 20 years and 1,000 projects of trust that can be leveraged to supplement your past performance.
The three Cs together create a cohesive equation. Capital + Capacity + Character = Total Bonding Program. When your business is supplemented with Bold Concepts equity, resources, and established character, your bonding capacity will grow rapidly.
Many of our clients have increased their bonding capacity ratios from an average of 10:1 to over 30+:1 immediately.
Contractual Indemnity under a Payment or Performance bond promises if a default occurs that one of the parties (Contractor) agrees to pay any sums the other party(Surety) might otherwise be legally required to pay to a third party(Obligee or Government).
Unfortunately if a fault is found, the indemnitors’ first available assets will be seized by the surety to satisfy all costs associated with the default including attorney fees. Working diligently with Bold Concepts to develop reasonable risk mitigation practices for all aspects of your construction business will be key to protecting the equity you worked so hard to obtain.
Bold Concepts’ Enhanced Bonding Program assists in the accelerated growth and development of small business General Contractors. Bold Concepts will work with our clients to develop reporting platforms and risk management techniques to allow for growth of their independent bonding program. Scheduling regular interactions with the bonding agent and surety to assist you with understanding how to speak their language will strengthen your character within the industry. We leverage a decades-long relationship with one of the nation’s largest construction bonding brokers, thus allowing you to experience exceptional growth in your capacity.