Archives for 2014

Goldleaf Surety To Host Contractor’s Seminars

Goldleaf Surety together with CliftonLarsonAllen is hosting a construction seminar in St. Cloud, Minnesota on January 20, 2015. Presenters will be Nick Nielsen, Principal with CliftonLarsonAllen; Jack Anderson, President of Goldleaf Surety; and Aaron Dean, Partner with Best & Flanagan. The agenda will include the following topics: Deferred taxes relating to pass through entities Financial benchmarks from a surety prospective Keys to maintaining a good surety … [Read more...]

Surety Bonds and Year End Considerations

One of the items often discussed by Goldleaf Surety underwriters is the “quality” of a company’s year-end financial statements and how these can affect the rates and terms upon which the company can obtain surety support. The chart to the below helps identify the various levels of financial statements that can be submitted with a bond application and at what points a company should consider engaging a certified public account (CPA) to prepare its annual financial statements. When working … [Read more...]

Goldleaf Surety Staff’s Bonding Time

Goldleaf Surety staff took time out this summer for some family fun. A company picnic was held the afternoon of August 8th. The kids enjoyed time in the pool, even though the day was a little chilly, and at the park. And everyone enjoyed bean bag games, good food, and time to relax and visit. On October 29th, Goldleaf held its second annual Pink Out for Breast Cancer Awareness month. Breast Cancer Awareness Month is an annual international health campaign organized by national public service … [Read more...]

Relay for Life

According to the American Cancer Society's Relay for Life website, the Relay for Life started in May 1985, when Dr. Gordy Klatt walked and ran for 24 hours around a track in Tacoma, Washington, ultimately raising $27,000 to help the American Caner Society fight the nation's biggest health concern - cancer.  A year later, 340 supporters joined the overnight event. Since those first steps, the Relay for Life movement has grown into a worldwide phenomenon, raising nearly $5 billion to fight … [Read more...]

What You Need to Know About Fund Control & Surety Bonds – Part 2

In my previous post we discussed what fund control is. This week we will look at some of the benefits of using fund control. How can fund control help a contractor? Fund control can help new or growing contractors get those jobs that may have previously been out of reach. In addition, it can also serve as a training mechanism for contractors who may not have the appropriate level of 'back room support' to handle all the paperwork on a project. It allows the contractor to concentrate more … [Read more...]

What You Need to Know About Fund Control and Surety Bonds – Part 1

We have all seen this scenario...a new or growing contractor with good character and strong technical abilities can't get a performance and payment bond because of their current financial picture, the bond size, or both. It's the old story - you can't get a loan unless you don't need the money! What is fund control? One tool used to help new or growing contractors get those jobs that were previously out of reach is the use of fund control in conjunction with a project. "Fund Control" means … [Read more...]

In Surety Relationships Matter

"Surety underwriting is the "art" of applying subjective thinking and analysis to the "science" of the facts and truths." (National Association of Surety Bond Producers, Commercial Surety Fundamentals). Goldleaf bond specialists, staff and management spent an enjoyable day of fishing and fun with representatives from one of our surety partners.  Opportunities such as these provide Goldleaf Surety the chance to get a better understanding of how the surety company's underwriters evaluate the … [Read more...]

Goldleaf Surety Scholarship 2014 Winner

Goldleaf Surety would like to introduce our 2014 scholarship winner - Cal Anderson. Cal will began his college career this fall at North Dakota State University in Fargo with plans to major in finance. Cal has also been an intern with Goldleaf this summer assisting our underwriting staff. Since 2010, Goldleaf has been presenting $500 scholarships to Montevideo High School graduates who will generally be pursuing a degree in a business related field. Goldleaf has been honored to present a … [Read more...]

Interview With a Contract Bond Underwriter – Meet Brad Koosmann

Meet Goldleaf Account Specialist Brad Koosmann. Brad grew up in Madison, Minnesota which is only about 30 miles from Montevideo where he now lives with his wife and 3 children. He enjoys vacations at the cabin, both playing and watching sports, and spending time with his family. Brad also enjoys fishing and hunting. One of his favorite fishing memories is the time he caught a 10 pound, 31 inch walleye while ice fishing for crappies through a 7 inch hole in the ice! Can Surety Be Quoted Like … [Read more...]

Big Climb MPLS

The Leukemia & Lymphoma Society's (LLS) Big Climb MPLS was held on April 5, 2014, at Capella Tower in Minneapolis. Goldleaf's Fund Control Administrator Jan Sachariason and her family participated in this year's event. Jan, her husband Rob, who is in remission from Hairy Cell Leukemia, and their son Jack volunteered their time while their oldest son Tyler participated in the climb. The climb consists of a either a leisurely climb or a challenging race up 48 floors or 95 floors of the Capella … [Read more...]