Credit Only Performance Bond

What are credit only performance bonds?

Credit only performance bonds are designed for small and growing contractors handling contracts under $750,000 in size and are ideal for those with a strong credit history. Unlike traditional performance bonds, credit only performance bonds for contractors require solely a simple credit check to get bonded—eliminating the need for financial statements, tax returns, and detailed underwriting.

Within minutes, NNA Surety offers quick approvals for credit only construction bonds, including bid, performance, and payment bonds.

Traditional vs. Credit Only Performance Bonds
Feature Traditional Performance Bond Credit Only Performance Bond
Approval Time 3-5 business days Within minutes
Paperwork Required Contractor questionnaire, financial statements, work-in-progress schedule, etc. Minimal information needed: application and credit check
Application Process Thorough Convenient and quick processing
Ideal for Individual contracts exceeding $750,000, Aggregate bonding capacity need of over $750,000, Complex contracts Smaller projects, fast turnarounds, quick approvals

Get a free quote for a credit only bond online or by contacting NNA Surety at 855-737-0193.

How much is a credit only performance bond?

The premium for a credit only performance bond is 3% of the total bond amount.

NNA Surety offers coverage of up to $750,000, including flexible options for individual and aggregate credit only performance bonds.

Check out our Traditional Performance and Construction bonds if you need coverage of $750,000 or more.

Get Your Credit Only Performance Bond


What’s the process to get a credit only performance bond?

Getting bonded with NNA Surety is quick and easy. Fill out our online application form and receive your personalized free quote for a credit only bond within minutes.

For further assistance or questions, contact our expert NNA Surety team at 855-737-0193.

What else should I know about credit only performance bonds?

While credit only bonds are ideal for streamlined projects, there are some exclusions. These surety bonds are designed for fast-paced projects, so long-term obligations such as service contracts are not eligible. Additionally, some specific accounts and bond types are excluded.

Account Exclusions

  • Business less than 3 years old or under new management
  • Companies with bankruptcy, contract defaults, surety claims, lawsuits or liens in the last 5 years, or existing bonds with another surety
  • Contractors in the 5 boroughs of New York City

Bond Exclusions

  • Work for sovereign nation owners
  • Bids spread of 10% or more
  • Maintenance guarantees over 2 years
  • Completion time exceeding 18 months
  • Environmental/remediation exposure
  • Design-build contracts
  • IDIQ contracts
  • Efficiency guarantees
  • Computer software programs
  • Subdivision/completion bonds
  • Multi-year contracts or renewal options
  • Liquidated damages exceeding $2,500/day
  • Takeover projects

We offer various traditional construction bond options for projects that fall outside the credit-only guidelines. Explore our full range to find the bond that fits your needs.

Questions? Call NNA Surety Bonds at 855-215-2160
Monday to Friday, 6 a.m. to 5 p.m. (PT)