Loans to build houses or buildings are outside this site.
Trade equipment can be financed with the machine as collateral; a one-time bill fits a short working capital loan; deposits that come back fit a line of credit. Owner-only trade businesses can request the same products.
At a glance
- Construction employer establishments, Lawrence County, TN
54 (CBP 2023)
- Fewer than five employees
37 of 54 (68.5%)
- Specialty trade contractors (NAICS 238)
38 employer establishments (CBP 2023)
- Construction employers at a ZIP 38464 address
29 (ZBP 2023)
Specialty trades, building contractors and owner-run crews in the Lawrence County, TN construction counts
The 2023 County Business Patterns count 54 construction employer establishments (NAICS 23) in Lawrence County, TN, employing 497 people on a $29.4 million annual payroll. Small crews dominate that count, with 37 of the 54 employing fewer than five people.
Specialty trade contractors (NAICS 238) made up 38 of those establishments, and construction of buildings (NAICS 236) had 13. Within the specialty trades the county counted nine plumbing, heating, and air-conditioning contractors (NAICS 238220) and seven electrical contractors and other wiring installation contractors (NAICS 238210). Owner-run crews show up in a different survey, covered in the last section below.
ZIP Code Business Patterns place 29 construction employers at a ZIP 38464 street address in 2023; 72.4% of those had a staff of fewer than five. Plants, stores and kitchens have pages of their own, reached from the industries page.
A sewer camera and a hydro jetter for a Lawrence County, TN plumbing contractor: cash, lease or financing
A plumbing contractor that clears and inspects drain lines can buy a push camera to see a blockage and a hydro jetter to cut it out. Both are portable trade equipment, so equipment financing can use them as collateral. A lease is the other route for a contractor that expects to trade up to a newer model.
Illustration only, invented figures: a camera with a locator and a cart-mounted jetter cost $28,460. A five-year equipment loan at 10.7% a year puts the payment at $614.54; across 60 payments the contractor pays $36,872.40, which includes $8,412.40 of interest.
Paying cash for both avoids interest but leaves less money for payroll and materials while a job is underway. The equipment financing page compares a loan, an equipment finance agreement and a lease in more detail.
An insurance premium audit bill at a Lawrenceburg, TN contractor: a short working capital loan
A general liability or workers' compensation policy priced on estimated payroll can be audited at the end of the policy year. If the actual payroll ran higher than the estimate, the audit can produce an added premium bill months after the work was done, with no job invoice behind it.
Illustration only, invented figures: an electrical contractor receives a $7,940 audit bill. A six-month working capital loan at an annual rate of 13.25% costs $1,374.94 a month and $8,249.64 in all, so $309.64 of interest spreads the bill across half a year.
A working capital loan fits a one-time bill like this, with a term counted in months. A line of credit fits costs that come back, which is the case in the next section.
A credit line for bid deposits at a Lawrenceburg, TN contractor
Some job owners ask for a deposit with each bid: a check or cashier's check returned to the bidders who do not win and held from the winner until the contract is signed. A contractor bidding several jobs at once can have several deposits out at the same time.
Illustration only, invented figures: a contractor bids a $386,000 job that asks for a 5% deposit, $19,300. Drawn on a line of credit at an annual rate of 12.55% and repaid when the deposit comes back 41 days later, the draw costs $272.08 in interest (simple daily interest, our arithmetic).
In this invented example the cost is the interest for the days the deposit is out. If the check comes back later than planned, interest keeps running on the drawn balance until it is repaid. The line of credit page covers draws and repayment in general.
Owner-only trade businesses in Lawrence County, TN and the same funding request
Nonemployer Statistics counted 721 construction businesses without paid employees in Lawrence County, TN in 2024, among them 487 specialty trade contractors (NAICS 238) and 226 building construction businesses (NAICS 236). That survey is separate from the employer counts above.
An owner who works alone can request the same funding types as a crew with a payroll. The request form asks for time in business, annual revenue and the amount requested; partners may check credit, may ask for bank statements, and decide on any offer.
This site does not arrange loans to build houses or commercial buildings, or to develop land; those are construction and real estate loans. Contractors can request funding for their own equipment, bills and timing gaps. Directions to the Wrenway Funding desk and its phone number are on the Lawrenceburg, TN page.
By Wrenway Funding ยท Updated
