New Mexico Surety Bonds

Your surety bond cost is formulated on the basis of the surety bond amount that you are required to post. This amount depends on the type of business you are in and your location. It can be a fixed amount for the whole country, a set amount for New Mexico or your local area, or it can be settled on a case-by-case basis.

The bond price you need to pay is only a percentage of this amount, called the bond premium. If you qualify for the standard bonding market, you can expect a premium between 1% and 4%.

When you apply for a bond, your surety will take a close look at your personal and business financials. It will consider your personal credit score, business finances and assets and liquidity. If your overall stats are solid, you can expect to pay less for the bond. Higher-risk applicants are assigned bigger premiums.

Lance Surety Bonds have been underwriting New Mexico surety bonds for various types of businesses. We’ve seen many applicants struggling because of problematic finances, and that’s why we operate our Bad Credit Program.

If you have a low credit score, tax liens, past bankruptcies, or civil judgments, you can almost always still get bonded with us. You can expect a bond premium in the range of 5%-15%, which mitigates the higher risk of bad credit bonding.

Our program is here to help you stay in business and improve your finances over time. Because of our excellent relations with numerous A-rated, T-listed surety companies, you can be sure that you are getting a top bonding rate with us, whatever your credit score is.

You can start your bonding process today! Just apply online for your free, no-obligations New Mexico surety bond quote.

For an exact price, you need to submit your application along with a set of relevant documents. Don’t hesitate to contact us at (877) 514-5146. Our bonding specialists are available to assist you.

Our How to Get Bonded page provides an excellent overview of the bonding process, so make sure to take a look for a full picture.