
I need to obtain a contract bond. Does it matter if I am a Sole Proprietor or a Corporation?
It really depends on what size contract bond you are looking for. If you are a new company - regardless of whether or not you are a corporation - a bond line would be based upon the personal credit of the owners of the company. As the company gets more established - it's probablay better to be a corporation to be able to get larger bond lines. This is because CPA prepared business financials are required for larger lines and are not usually prepared for sole proprietors.Originally Posted by Pacman
I need to obtain a contract bond. Does it matter if I am a Sole Proprietor or a Corporation?
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