Many times, when it comes to spending extra money, like you have to do on a high risk surety bond, we can fall into the trap of searching around trying to find a way to save money. That comes natural as a small business owner, but can get you into trouble. The time you waste “finding” a place to “save” money piles up, meanwhile you are not assured of a favorable result. That is even more pronounced when you are dealing with surety bonds, because the likelihood that you are going to find a surety bond company that will give you a standard surety bond if you have bad credit is extremely low. You should buy and buy now. You need to “get back on the horse” as it were. You have to have access to the best bids out there, and all of those require surety bonds.
Once you get your high risk surety bond, you can begin to put a plan in place that will put you back in good graces credit wise, but you need to get working right now. Just like a general financial plan, you put one piece of the puzzle in place at a time. The first piece is revenue, and you can’t get that without the bids you will get from your high risk surety bond. Budgeting and discipline will take care of the rest.