How to prove your financial responsibility with our Florida Contractor Credit Report service – Contractors Reporting Services
One of the most important steps during the general contractor licensing process in Florida is proving financial responsibility. People striving to earn the Florida HVAC license and general contractor license must submit a Florida Contractor Credit Score, as well as other documentation to prove financial responsibility. You cannot earn your contractors license without meeting this requirement.
At Contractors Reporting Services, we offer Florida Contractor Credit Report services to help you organize and send the proper documentation and make sure you meet the requirements to be deemed financially stable. In order to receive your contractor license, you must have a FICO credit score of a 660 or higher. If you do not have a contractor credit score of 660 or higher, there may be different methods of proving your financial stability.
One way that our Florida Contractor Credit Score services can help you prove your financial stability is to walk you through the process of getting a surety bond, which is part of the financial stability requirement if you have a credit score lower than 660.
Here is what DBL Surety, LLC says about Florida contractor credit surety bonds:
Florida Division I and II Contractor License Bonds are a new requirement by the State of Florida for all Division I and II Contractors with FICO derived credit scores less than 660… Florida Division I and II Contractor License Bonds – Sub 660 FICO Score are required to demonstrate financial stability to the State of Florida
The bond amount needed for a Florida Division I Contractor with a sub 660 FICO score is $20,000 and the amount needed for a Florida Division II Contractor with a sub 660 FICO is $10,000.
At Contractors Reporting Services, we are here to help you establish financial responsibility and earn your general contractors license with our Florida Contractor Credit Score services. Call us today to schedule an appointment with one of our contractor consultants.
Contractors Reporting Services
13795 N Nebraska Ave
Tampa, FL 33613