Working Capital: Understanding it’s role in Obtaining Construction Surety Bonds
Working capital is the financial lifeline of any business, including construction companies. It represents the funds needed to cover short-term obligations, ensuring operations run smoothly and the ability to meet financial obligations. For construction companies seeking to secure surety bonds, understanding the significance of working capital is vital. It plays a crucial role in the surety bond underwriting process and is an essential component of the success of construction projects.