With more construction opportunities becoming available in the public and private sectors in the City of Philadelphia, PIDC hosted a 4-part Construction Workshop series to provide small contractors with the necessary tools for lasting success. Part 3 of the series was titled Understanding Contract Surety Bonding: An Orientation for Small Contractors led by strategic partner Ellen Neylan, President of Surety Bond Associates. This workshop covered the fundamentals of qualifying for construction bonding, determining costs, positioning your company for increases in bonding lines, and avoiding defaults. It also covered how to choose the right bonding company for your growing needs.
PIDC offers a specific financing product for small contractors. The Contract Line of Credit Loan provides support to small, minority, women, veteran and disabled-owned businesses that need a line of credit to fund contract-related working capital.
To learn more: PIDC Small Contractor Workshop Series