Who needs Solicitor And Fundraiser Bonds?
You may need a Solicitor and Fundraiser Bond (often called a professional fundraiser bond or professional solicitor bond) if your business is paid to solicit donations or run fundraising campaigns for charitable organizations and your state requires a bond to obtain or renew your fundraising license. The bond is generally required by the state agency that regulates charitable solicitation, often under the attorney general’s oversight.
This bond is meant to protect the public and donors by helping ensure fundraisers follow state rules, accurately represent the charity they’re fundraising for, and handle donations as promised. If a fundraiser violates the licensing requirements and a valid claim is paid, the fundraiser is still responsible for paying that amount back.
How much do Solicitor And Fundraiser Bonds cost?
The price you pay is a premium based on the bond amount your state requires and the rate set by the surety company. Rates are commonly around 1% to 4% of the required bond amount, but the exact rate depends on your application.
Surety companies typically look at your credit, financial strength, and industry experience when setting the rate. Stronger credit and finances usually qualify for lower pricing, but there are options for a range of financial situations.
How do I get a Solicitor And Fundraiser Bond?
Start by confirming the exact bond name and bond amount required for your license. Then you’ll complete a surety bond application. The surety company reviews your information and, if approved, provides a quote for the premium.
Once you pay the premium, the bond is issued so you can file it with the licensing agency as part of your license application or renewal.
Can I get a Solicitor And Fundraiser Bond with bad credit?
Yes, bad credit does not automatically prevent you from getting a professional fundraiser bond. Credit is one of the factors used to set the rate, so applicants with lower credit may pay more, but bonds are often still available.
If your credit is a concern, it helps to provide complete and accurate application information, including any relevant business background or experience, so the surety can evaluate the full picture.
How fast can I get Solicitor And Fundraiser Bonds?
Timing depends on the state requirements and how quickly the application can be reviewed. Many applications can be processed quickly once the required details are confirmed and the application is complete. Providing the correct license information and responding promptly to any follow-up questions helps avoid delays.
If you’re unsure which bond you need, BOSS Bonds can review your licensing paperwork and help identify the correct bond at no cost.
