Florida Contractor Credit Report – Establishing Financial Responsibility

contractor credit report florida Earning your general contractor’s license in the state of Florida is more than simply passing the written exam. In addition to proving your knowledge in the field, you must also prove that you have the knowledge and financial means to make your business a success. At Contractors Reporting Services, we want to help make sure that you have everything in place to gain your license and establish yourself as a successful general contractor in Florida. In order to accomplish this, we help you to submit all of the required documentation to receive your contractors license, including your contractor credit report Florida.

Your Florida contractor credit report shows your financial stability – a requirement for earning your general contractors license. The state wants to be sure that you have never filed bankruptcy, been sued, or had any credit defaults. The Florida contractor credit report also searches your public records to show any arrests or warrants before approving your general contractors license.

Additionally, when your Florida contractor credit score is reviewed, you must have over a FICO score of 660 in order to be deemed “financially responsible.” However, if you have a score under 660, you can take other routes to still receive your general contractors license. The Florida General Contractor Exam Prep explains some of the options available to contractors with a FICO score of less that 660:

If an applicant has a FICO credit score lower than 660, he/she will be requested to provide a licensing bond or letter of credit to obtain licensure. Please review the Department’s Financial Responsibility and Stability website for additional information on the Board’s requirements. The amount of the licensing bond or letter of credit is based on the type of license requested: $20,000 for Division I contractors and $10,000 for Division II contractors.

If you are interested in learning more about the requirements for your contractor credit report Florida, please contact our office. We are ready to help you through the process of earning your Florida general contractor license.

 

Contractors Reporting Services
13795 N Nebraska Ave
Tampa, FL 33613
1.800.487.2084

 

By Chris Cook March 18, 2025
As a licensed contractor in Florida, you may eventually find that your business needs to expand its scope of work. Whether you're looking to move from residential to commercial projects or increase the size of the projects you can legally take on, upgrading your contractor’s license to a higher class can be an essential step in growing your business.
By Chris Cook March 18, 2025
Obtaining a contractor's license in Florida is an essential step to legally work in the construction industry. However, the process can be complex, and many applicants make mistakes that delay or even derail their application. Whether you're a new contractor or looking to expand your business, knowing the most common pitfalls can save you time, money, and stress. In this article, we'll highlight the top mistakes to avoid when applying for your Florida contractor's license and provide tips for a smoother process.
By Chris Cook March 18, 2025
In Florida, contractors are required to be licensed to ensure that construction projects are executed safely, correctly, and in compliance with state laws. Two major regulatory bodies oversee contractor licensing in Florida: the Florida Construction Industry Licensing Board (CILB) and the Electrical Contractors' Licensing Board (ECLB). While both fall under the Florida Department of Business and Professional Regulation (DBPR), their areas of focus are quite different. If you're a contractor or considering entering the construction industry in Florida, it’s crucial to understand the roles these boards play and how they affect you.
By Chris Cook March 18, 2025
A career in HVAC (Heating, Ventilation, and Air Conditioning) can be a good idea in Florida, as in many other parts of the United States. Florida's warm and humid climate certainly makes air conditioning a necessity, so there is a consistent demand for HVAC services. This demand can provide job security and opportunities for those working in the HVAC industry. HVAC technicians in Florida can earn a healthy income, with the potential to increase their earnings as they gain experience and expertise. And HVAC professionals who choose to start their own HVAC businesses often find this a rewarding option. Overall, a career in HVAC in Florida can be a good idea if you have a genuine interest in the field, are willing to invest in your education and training, and are prepared to adapt to changing industry trends and technologies. It can provide job stability, good earning potential, and opportunities for career growth, especially if you are committed to delivering quality service to your customers.
By Julia Bradley July 27, 2023
The demand for licensed electricians is high in Florida and expected to continue growing as new construction and infrastructure projects are undertaken. If you are considering a career as a licensed electrician, you can expect to earn a competitive salary, and have steady employment and job security. Skilled electricians are needed in various industries, including residential, commercial, and industrial sectors. Electricians also have the flexibility to work independently, for an established company or start their own businesses which can give you more control over your work schedule, projects, and income potential. Although physical demands and challenging environments, such as cramped spaces, heights, or extreme weather conditions exist, those who enjoy hands-on work, problem-solving, and working with electrical systems will find this profession rewarding, and you can continually expand your knowledge and expertise through ongoing training and certifications.
By Ryan Bradley April 25, 2023
Running a successful construction business requires careful planning and execution, as well as a good understanding of the industry and the market you operate in. Here are some key steps to consider when starting and growing a successful construction business.
By Ryan Bradley March 1, 2023
Get Organized in 2023: Three Construction Management Software Programs to Try
Real estate trends shows graphic of miniature house model on top of a blueprint
By crs-admin November 15, 2022
Realtor.com has recently published its housing market predictions for 2020. In the forecast, analysts looked at four areas: supply, demand, home sales, and the move to affordability. 1) Supply Low affordability and higher interest rates caused growth in the housing inventory, while higher housing prices and higher interest rates raised barriers to entry. Houses satContinue reading
Approved stamp for a contractor applying for a state license
By Sandra Brown April 17, 2022
Six steps Contractors Reporting Services can assist you in becoming a Florida contractor. #1 The Application. #2 Work Experience and State Examination: you must pass the Florida contractor license and provide educational and/or vocational experience. #3 Proof of financial stability and a high FICO score. #4 Fingerprinting and criminal background check. #5 Proof of Insurance. #6 Application fees. These steps can be difficult on your own. Call Contractors Reporting Services for more information.
IT management and cyber security for contractors
By crs-admin March 10, 2020
IT management and cybersecurity are critically important for the general contractor. Project management for the general contractor encompasses schedules, materials, services, permits, and, most importantly, people. When a cyber-attack steals client, subcontractor, and vendor account information, it hurts people.
More Posts
Share by: