A Veteran-Owned Bail Bond Business

201605.12

Jose Espinoza in military uniformFormer Defense Secretary Robert Gates says veterans should have not just jobs but choices. Retired Army General Ray Odierno, however, adds that many employers seem to want to pigeonhole veterans into certain job types. Gates and Odierno agree that civilians and vets must get to know one another better to bridge the military-civilian divide.

JPMorgan Chase and the Center for a New American Security have commissioned a study to survey employers about veteran job retention. The study will look into veteran economic value, the contributions they make in the workplace, and how veteran retention compares to that of the entire workforce. A Center for a New American Security senior fellow says the study aims to inform practices of employers and policies of the next administration.

A majority of military spouses work below levels of their training or their previous jobs. Spouses with opportunities for meaningful work help retain talented service members and veterans as well. Veterans in the workforce is an idea everyone agrees on. Two business organizations pursue the idea as their sole purpose:

  • The Veteran Jobs Mission, the leading private-sector solution for the problem of military veteran unemployment, started as a coalition of 11 companies * committed to hiring 100,000 veterans by 2020. The coalition has grown to more than 200 private-sector companies representing every industry in the American economy.

Beyond the ongoing search for military talent, Veteran Jobs Mission members continue to focus on veteran retention and career development in the private sector. The mission supports veterans as they adapt to the workplace with sponsorship, training programs, and industry-based subgroups to enhance collaboration among members.

  • Hiring Our Heroes is a nationwide initiative to help veterans and military spouses find meaningful employment opportunities. Its goal is to create a movement across America in communities where military families return every day. Through engagement with the business community, job fairs across the country, on military installations overseas, and online help thousands of veterans and military spouses find jobs.

Digital resources are resume builders, portals to employment opportunities in growing job markets, a 24/7 virtual career fair, and a virtual mentorship program. The overall organizational objective is to help veterans, transitioning service members, and military spouses connect with employers in all businesses wherever they may be.

Espinoza Bail Bonds, a Veteran-Owned Business

Jose Espinoza made a successful transition from a military career to business ownership. He served in the military for over 19 years, reached the rank of captain, and performed all official duties with distinction. Captain Espinoza then attended California State University Sacramento, earning a master of business administration degree. Captain Espinoza has used his military experience and his business education to start and manage Espinoza Bail Bonds.

He serves the entire Sacramento County with special emphasis on personal service customers find professional and fast. Captain Espinoza treats everyone fairly and respectfully. Espinoza Bail Bonds is an example of a successful veteran-owned business helping people in need every day.

The Bail Bond Business

A bail bond in a criminal case gives the defendant a substantial financial incentive to appear promptly at scheduled court appearances while on pretrial release. Defendants unable to secure bail bonds remain in pretrial detention until dispositions of their cases, sometimes several months or longer

A bail or surety bond is a contract made by a bail bondsman affiliated with an insurance company and licensed by the state to deposit cash with a court as an assurance that, if granted release pending disposition of the case, the defendant will show up as required or forfeit the bail bond, risk another arrest for failure to appear, and be subject to a charge for that offense. If the defendant appears punctually as promised, the court refunds the bail money at the end of the case.

Bail bond premiums cost defendants a set rate, typically 10 percent, of the full amount of the bail, so the premium or nonrefundable bondsman’s fee for a $10,000 bail would be $1,000. Surety companies set such fees under state regulation, and they are not negotiable for more or less. The premium keeps the bail bond in force for up to a year. If the case continues longer, another premium or fee comes due to keep the defendant on release from detention.

Obviously, the bail bond business is not without risk. If a defendant flees, the court may issue a bench warrant, and the bail bondsman may apprehend and bring the defendant back to court or forfeit the bond money with any collateral posted.

* AT&T, Broadridge Financial Solutions, Inc, Cisco Systems, Inc, Cushman & Wakefield, Inc, EMC Corporation, Iron Mountain Incorporated, JPMorgan Chase & Company, Modis, NCR Corporation, Universal Health Services, Inc, Verizon Communications, Inc.