If you’ve ever submitted your financials to a bonding agent and got nothing but silence—or worse, a list of “issues” you didn’t see coming—you’re not alone.

For many construction contractors, bonding is a necessary part of growth. But getting bonded (and staying bonded) hinges on something that often feels frustrating and unclear:

Submitting clean, accurate financials that bonding managers actually trust.

In this blog, we’ll break down what bonding managers really want, what makes them nervous, and how to present your numbers with clarity and confidence.

Why Do Financials Matter So Much for Bonding?

Sureties aren’t just looking at whether you’re profitable. They’re asking:

• Can this contractor complete the job?
• Will they pay their bills?
• Are they managing cash wisely?
• Can they handle this job on top of what they’re already doing?

To answer these questions, they rely heavily on your financial statements.

Clean, accurate financials = confidence. Confusing or sloppy financials = risk.

What Financials Should You Submit?

Every bonding agent will have preferences, but in general, you should be ready to provide:

• Balance Sheet (as of the most recent period end)
• Income Statement (P&L for YTD and previous years)
• Work-in-Progress (WIP) Report – showing all open jobs, percent complete, cost to complete, and billings
• AR and AP Aging Reports
• Personal Financial Statement (for owners)
• Debt Schedule
• Backlog or Job Schedule with contract values and timelines

The more consistent and professional these look, the easier it is for the bonding manager to say “yes.”

Common Mistakes That Raise Red Flags

Here’s what we often see that puts bonding managers on edge:

• Overstated Assets or Receivables – They’ll ask, “Is that really collectible?”
• Understated Liabilities – Especially credit card balances or owner draws that aren’t booked
• Missing or Misleading WIP – No cost to complete, wild profit swings, or no under/overbilling entry
• No trend consistency – Big changes in cash or equity with no explanation

These may seem minor, but to a surety, they raise questions about how well you understand your own financials.

What Bonding Managers Do Like to See

Let’s flip the script. Here’s what bonding managers love:

• Accurate WIP reporting using percent-complete accounting
• Tidy Balance Sheets with reconciled accounts and clean AR/AP
• Consistent reporting – same timing, same layout, same quality every quarter
• Projections – show that you’ve thought about where you’re going, not just where you’ve been
• Preparedness – When you can answer, “What happened last quarter?” without guessing

Even better? When you send your financials with a short summary or talking points, showing you understand what the numbers say and what’s changed.

Example Talking Points That Bonding Managers Appreciate

When we work with clients, we help them prepare a short summary like this:

Q2 Summary:
Revenue is up 18% from Q1 due to mobilization on Project X. Gross margin held steady at 15%. WIP shows 1 active projects with profit fade due to the extreme weather we had in January. No underbilling issues. Overhead is up slightly due to onboarding a new PM for growth.

Backlog is currently $4.2M with strong pipeline heading into Q3. Cash is stable. No new debt.

This kind of summary builds trust—and keeps the phone from ringing with follow-up questions.

Bonus Tip: Prepare Before the Ask

If you’re planning to request bonding or submit a financial package:

• Don’t wait until the last minute.
• Review your statements for clarity and consistency.
• Check that your WIP ties to your Balance Sheet.
• Ask a second set of eyes (like your CPA, controller, or a service like our [Quarterly Financial Analysis Membership]) to flag issues before you send them off.

How Atlas CFO Can Help

At Atlas CFO, we specialize in helping contractors present financials that bonding managers actually like.

Through our Bonding-Focused Financial Statement Analysis Membership, we provide:

• A quarterly pre-submission check
• Talking points to help you explain what’s changed
• Access to our training library and projection tools
• Optional KPI benchmarking to highlight strengths

When you understand the story your numbers are telling—and you share that story clearly—bonding managers pay attention.

Final Thought

Bonding decisions aren’t just based on numbers. They’re based on confidence in those numbers.

If you want to grow your bonding capacity, start by submitting financials that speak their language—clean, clear, and confident.