Which factor can improve a business's chances of obtaining a surety bond?

The presence of strong financial backing and a good credit score significantly enhances a business's chances of obtaining a surety bond. Surety companies evaluate the financial stability and reliability of a business before issuing a bond. A good credit score reflects a history of responsible borrowing and repayment, which builds trust with the surety provider. Additionally, strong financial backing indicates that the business has sufficient resources to fulfill its obligations, thereby reducing the risk associated with issuing the bond.

By demonstrating both financial competence and responsible credit behavior, a business presents a favorable risk profile, making it more attractive to surety companies. This can lead to easier approval for the bonding process and potentially better terms.