Tagged: surety bond
- February 2, 2018 at 7:27 pm #152059
A lender approached me and my business and as I am looking for funds I was thinking of applying for a $1 Million dollars loan.
Apart from the business plan where they will assess if they want go ahead with it or not they also want a surety bond.
However they say that they are the ones choosing the company that I must use to get the bonds and that it must be based in Bahrain or UAE, is this normal?
What kind of fee would I be paying to have the bond typically on those values?
The lending company is based in France.
NunoFebruary 2, 2018 at 7:29 pm #157931
We actually have some great resources on this topic. Feel free to read our article below, which has pricing information on surety bonds. I’m not sure if requiring a company is normal or not. I would check the company’s reputability just to be sure.
– What is a surety bond:https://fitsmallbusiness.com/what-is-a-surety-bond/
– Types of surety bonds: https://fitsmallbusiness.com/types-of-surety-bonds/