Contractor financing covers the working capital, credit lines and equipment that construction firms need between bids, draws and final payment. Oakwick Lending Group, a small-business funding broker in Concord, NC, helps Cabarrus County contractors, 693 employer establishments in 2023 (Census CBP), choose a structure and introduces requests to lending partners, which decide and set rates and terms.
| Cabarrus County employers | 693 construction establishments (CBP 2023) |
|---|---|
| Specialty trades | 493 establishments, 57.8% under five employees |
| Owner-operators | 2,350 construction businesses with no payroll (NES 2024) |
| New housing units permitted | 2,270 (2023), 2,485 (2024), 1,991 (2025), Census BPS |
| Common products | Equipment financing, revolving credit lines, working capital |
| Who decides | A lending partner; Oakwick Lending Group only arranges |
Construction in Cabarrus County, NC
Cabarrus County had 693 construction employer establishments in 2023, employing 6,123 people with an annual payroll of about $407.2 million. 63.2 percent had fewer than five employees (U.S. Census Bureau, County Business Patterns 2023). By establishment count, construction trailed only retail.
| Subsector | Establishments | Paid employees | Share under five employees |
|---|---|---|---|
| Construction of buildings (NAICS 236) | 169 | 700 | 81.7% |
| Specialty trade contractors (NAICS 238) | 493 | 4,756 | 57.8% |
| All construction (NAICS 23) | 693 | 6,123 | 63.2% |
Source: U.S. Census Bureau, County Business Patterns 2023. The subsectors shown do not add up to the total because heavy and civil engineering firms are not listed separately here.
Another 2,350 construction businesses operated with no paid employees in 2024, 1,585 of them specialty trade contractors (U.S. Census Bureau, Nonemployer Statistics 2024). That count comes from a different program and year, so it sits beside the employer figures rather than adding to them.
What the permit figures show
Permits for new privately owned housing units in Cabarrus County rose from 2,270 in 2023 to 2,485 in 2024, then fell to 1,991 in 2025. Of the 2025 units, 1,358 were single-family and 631 were in buildings with five or more units (U.S. Census Bureau, Building Permits Survey). These counts cover new homes only, not commercial work or remodels, but they show that the volume of residential work can swing by hundreds of units from one year to the next. A trade that sized its crew and fleet for a strong year needs financing that does not assume the next one will match it.
The four needs that drive most requests
- Payroll and materials between draws. Labor is paid weekly while draws, retainage and change-order payments arrive later. Working capital fits a single gap; a line of credit fits gaps that repeat.
- Equipment. Skid steers, compact track loaders, mini excavators, trailers and work vans. Equipment financing lets the machine secure the debt.
- Mobilization on a larger job. Materials ordered, permits paid and crew added before the first draw.
- Growth. A second crew, a shop or yard, or a move from subcontracting to general contracting, usually a term-loan question.
Commercial trucking and hauling fleets are outside what our partners have confirmed, so we do not arrange financing for them.
What construction financing means in practice
The phrase covers two very different things. Some people mean financing to build a structure, which is a real-estate construction loan made by banks to property owners and developers and is outside what we arrange. Others mean financing for the construction business itself: its equipment, its cash flow and its growth. Oakwick Lending Group works on the second.
How lending partners look at contractors
- Bank statements over several months, to see how deposits track draws
- A work-in-progress or backlog summary showing contracted jobs and expected payment dates
- Accounts receivable aging, including retainage held by general contractors
- Time in business and how long the owner has worked in the trade
- Existing equipment loans and leases, and the owner's credit
Contractors that work for public agencies are sometimes asked about the contract's payment terms as well, since government payment schedules can differ from private ones.
A line of credit for a contractor
A revolving line suits a contractor whose shortfalls come every few weeks in different sizes. Draw for materials when a job starts, repay when the draw lands, and the limit is available again for the next job. Watch the renewal date, since partners review lines periodically and can reduce them, and avoid using the line to buy machines that will take years to pay off. How business credit lines work covers draw periods and interest.
Financing heavy equipment
Partners weigh the machine as much as the business: its age, hours, brand and resale market. New machines from an established dealer are usually the simplest to finance; older units bought privately may need an inspection. Before you sign, run the numbers through the construction equipment payment calculator with the quoted price, down payment, rate and term to see the monthly payment and total cost.
Local context
Cabarrus County business figures show how construction compares with other sectors near the office, and the industry pages cover restaurants and medical practices.
By Oakwick Lending Group · Updated