If my contractor is licensed, is there more money available than just suing him personally?

Yes, and this is one of the more important distinctions in a case like this. Most licensed California contractors are required to carry a license bond, a form of insurance purchased specifically to cover valid claims against that contractor, currently set at $25,000 for most license classifications through the Contractors State License Board, commonly abbreviated as the CSLB.

This bond gives you a second, separate source of recovery beyond simply suing the contractor personally in small claims court. The important caveat is that the bond isn't reserved exclusively for your claim, it functions on a first-come, first-served basis among everyone who has filed a valid claim against that same contractor's bond. If your contractor has abandoned multiple jobs, as is common with contractors who take deposits and disappear, that $25,000 bond can be drained by earlier claimants before you ever file, which is the practical argument for filing your bond claim promptly rather than waiting to see if the contractor resurfaces on his own.