Oregon Contractors Stay in Business with a New Source of Surety Bonds and Working Capital
Miami, FL – Oregon contractors have a new way to solve their most difficult business finance problems: How to get surety bonds and working capital.
“The financial tsunami of 2008 destroyed the ability of many Oregon contractors in the building trades to get a completion bond, or the working capital to acquire the supplies to do the work,” said Jeffrey Camp, Chief Operating Officer. “Because they do not have perfect credit, they lose out on many jobs where bonding is required, such as local government projects. We can fix that.”
“We underwrite based on the character and record of people who run the company. We also disburse the funds, further reducing the risk. We help companies stay in business and get new business.”
The Oregon Office of Insurance Regulation recently approved Ox Bonding (and our affiliate carrier, Upper Hudson National Insurance Company) to provide business insurance services in Oregon.
Ox Bonding makes it faster and easier to get bonding than the traditional surety markets. Also, with our affiliate insurance carrier, we are the agent and carrier which allows us to offer faster and more complete service.
“Our clients also benefit from improved access to working capital,” said Camp. “For example, if a painting contractor has ten days to pay a bill, we can call the vendor and get a discount of 2% to 6% or more for paying it right away. These discounts save far more than the cost of the capital.”
Ox Bonding helps business owners who have been turned down for a surety bond before.
“This new ability to get bonding and working capital is often the difference between staying in business or going out of business,” said Camp.
With the addition of Oregon, Ox Bonding now offers its products and services in 13 states including New York, California, Illinois, Florida, Georgia, Pennsylvania, New Jersey, Washington, Hawaii, Maryland, Missouri and Louisiana.
Ox Bonding Insurance Services is a licensed insurance agency. For more information on our programs, or to apply for bonding or credit services, please visit www.OxBonding.com. Ox Bonding is always looking for more brokers and agents. For more information about our programs for Agents, visit www.OxBonding.com/agent. Bonding is not available in all states.
990 Biscayne Blvd
Miami, FL 33131 Suite 501