Jack Cherub

Bonds received. Thanks for everyone's assistance.

Hey everyone, Thanks for the feedback and thoughts. After battling this for over two weeks, I followed your suggestion and got in touch with Mary Allen. It appears everything is going through easily with no collateral required, not to mention for a great price, below what I've heard anywhere else. Looks like we're a couple days away from having bonds approved and in hand so we can finally proceed with the TTB application. I try not to count my chickens before they're hatched but I will update you with details once it's official. Thanks!

Hi All, We're pursuing our bond and our insurance agent is requiring we put down $5k collateral until we're up and running (ie. will review in a year and possibly refund some). We were looking at taking out about a $15k bond with $1k withdrawel, which many of you know is the minimum. We'd like to increase the amount (as many on here suggest), but a higher bond will require more collateral, and we need most of our start up capital for the equipment and first round of product. Having to hand out $5k to sit somewhere is not ideal as we could really use that money towards start up, but the surety states we're a new business and they need a guarantee. Has anyone else been required to put down collateral like this? On the other side, it looks like our premium will be about $320 for the year, which seems reasonably inexpensive. Our personal financials are not amazing, but our investor's are quite strong. Thoughts?