Payroll for an added shift and raw material orders fit working capital or a line instead.
Machines fit equipment financing or a lease; a second shift's payroll before the customer pays fits working capital or a line; steel and resin bought at a quoted price fit inventory financing or a line. Electrical service, foundations and other building work stay outside this site.
At a glance
- Manufacturing employer establishments, Lawrence County, TN
57 (CBP 2023)
- Manufacturing annual payroll
$116.8 million (CBP 2023), the largest of any sector
- Paid manufacturing employees
2,126 (CBP 2023)
- Manufacturing employers at a ZIP 38464 address
37 (ZBP 2023)
Lawrence County, TN manufacturing: the largest payroll and fewer very small shops
No sector in Lawrence County, TN paid more in 2023 than manufacturing (NAICS 31-33): $116.8 million in annual payroll across 57 employer establishments and 2,126 paid employees. Retail trade had about three times as many establishments and less than half the payroll ($51.6 million).
Manufacturing establishments are larger on average: 22.8% had fewer than five employees, against 47.1% in retail. Fabricated metal product manufacturing (NAICS 332), which includes machine shops, had 12 establishments and 431 paid employees, and 3 of the 12 had fewer than five employees.
In ZIP 38464 alone, the 2023 ZIP Code Business Patterns list 37 manufacturing employer establishments by physical address, and fewer than five people worked at 24.3% of them. Metal shops and plastics plants share this page; the industries page lists the other trades.
A fiber laser cutter for a Lawrence County, TN metal fabricator: cash, lease or an equipment loan
A fiber laser cutter turns flat sheet and plate into parts straight from a drawing file, and for a fabricated metal shop it can be one of the largest single machine purchases. Cash keeps the laser out of any loan but can drain the account that pays for steel and payroll. A lease spreads the cost and leaves the end-of-term choice to the lease contract. With equipment financing the shop holds title, and the partner keeps a lien on the laser until the last payment.
Illustration only, invented figures: a laser with its loading table costs $236,000 installed. Seven years at 9.65% a year sets the payment at $3,875.33; all 84 payments come to $325,527.72. Cut the term to six years at the same rate and each payment becomes $4,330.56, with $311,800.32 paid over the 72 months.
In this invented example the shorter term raises the payment by $455.23 a month and cuts total interest by $13,727.40. The equipment financing page sets a loan, an equipment finance agreement and a lease side by side.
A second shift at a Lawrenceburg, TN plant before the customer's invoice is paid
A plant that wins a larger order may add a second shift before the first invoice for that order is paid. Wages come due every payday, while the customer may pay 45 or 60 days after each shipment.
Illustration only, invented figures: a second shift adds $11,480 to each weekly payroll, and the first payment for the new order arrives 45 days after the shift starts. Six or seven weekly paydays land inside that wait, depending on the calendar, which puts the gap between $68,880 and $80,360. A plant that covers part of it with a $52,600 working capital loan over 12 months at an annual rate of 11.7% pays $4,666.07 a month, $55,992.84 in all.
A line of credit is the other choice when orders repeat: draws cover each payroll and the customer's payments pay them down. A working capital loan fixes the amount and the schedule up front. Which one a partner offers, and for how much, is the partner's decision.
Steel coil and resin bought at a quoted price: inventory financing or a credit line in Lawrence County, TN
Steel service centers and resin suppliers may quote a price that holds for a short time. A plant that buys a larger lot at that price ties up cash in material that becomes parts over the following weeks.
Illustration only, invented figures: a Lawrence County, TN fabricator buys $64,320 of steel coil at a quoted price. It draws the amount on a line of credit at an annual rate of 11.45% and pays it down in three equal parts of $21,440 at 30, 60 and 90 days as parts ship. Interest on the draw totals $1,210.63 by the last paydown (simple daily interest, our arithmetic).
Inventory financing is the product built for material bought to sell; that page works through paydowns on a stock purchase. Resin pellets for an injection molding plant follow the same pattern as the steel in this invented case.
An injection molding press at a Lawrenceburg, TN plastics plant: the machine, its auxiliaries and the building's limits
An injection molding press at a plastics plant arrives with machines around it: a mold temperature controller, a resin dryer, a hopper loader and sometimes a robot that pulls finished parts. Those auxiliaries are equipment too, and they can be listed on the same quote as the press.
Other costs stay with the building. A new press can need a heavier electrical service, a cooling water line or a reinforced floor; that is building and utility work, outside this site. The molds a press runs are tooling, and a quote that lists them on separate lines shows what the request covers.
A term loan is the alternative when the press, its auxiliaries and the installation labor are kept on one note with fixed payments. The Lawrenceburg, TN page sets the county's manufacturing payroll next to its retail count and shows how to reach the Wrenway Funding desk.
The plant financing post adds a coordinate measuring machine, three smaller machines on one loan and net-60 customer terms.
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