- Posted June 11, 2012 by
This iReport is part of an assignment:
Economy: Are you better off?
Soaring California Contractor License Bond Rates Forcing Some Contractors Out Of Business
Contractors in California have been hit by more than just a rough economy as tightening credit requirements have led to large increases in license bond rates for a majority of contractors. The large increases combined with a poor economy is quietly forcing many contractors out of business altogether. The timing could not be worse as an economic rebound that is struggling to gain traction may face another significant hurdle if contractors turn to unemployment as an alternative to the high costs of remaining in business. Many thanks for all those that contributed to the story including the teams at Schaedler Insurance and CaliforniaContractorBonds.com