Slateshire Finance, which arranges funding for trades in Sanford, NC and Lee County, walks through sizing working capital for an electrical contractor: a week-by-week worksheet of material buys, payroll and builder payments, how to choose between a working capital loan and a line of credit, and what records to send. Lee County figures on electrical firms and home building frame it.
Owed money is not cash
An electrical contractor wiring new homes is paid after the work passes inspection, and paid again after trim-out. Between those dates the firm buys wire, boxes, panels and breakers, and pays electricians every week. A busy firm can show a healthy receivables list and an empty bank account in the same week.
Working capital for electrical contractors exists for exactly that: carrying the firm from material buy to builder payment. The trick is borrowing the right amount for the right length of time.
Lee County, NC figures behind the worksheet
Building permits in Lee County, NC authorized 541 new housing units in 2023, 602 in 2024 and 674 in 2025 (Census Building Permits Survey). More houses mean more rough-ins, and more rough-ins mean more material bought before payment.
The county had 26 electrical contractor employers in 2023, and 16 of them had fewer than five employees (County Business Patterns). A firm that size can feel one new subdivision contract in the amount tied up in materials and wages.
Build the worksheet: twelve weeks on one page
Illustration only, not an offer or a typical figure. Take a firm starting rough-in on six houses in week 1 and six more in week 5. Each rough-in uses about $3,000 of material, bought the week it starts; weekly payroll is $6,500; the builder pays $5,000 per house about four weeks after rough-in passes inspection in the house's third week.
| Weeks | Cash out | Cash in | Running gap |
|---|---|---|---|
| 1-4 | $18,000 material + $26,000 payroll | $0 | -$44,000 |
| 5-6 | $18,000 material + $13,000 payroll | $0 | -$75,000 |
| 7-8 | $13,000 payroll | $30,000 (first six houses) | -$58,000 |
| 9-12 | $26,000 payroll | $30,000 (second six) | -$54,000 |
The deepest point is about $75,000 in week 6. That, not the size of the contract, is what needs funding. Trim-out payments later in the job bring the running total back above zero.
Loan or line: reading the shape of the gap
If the worksheet shows one deep dip that recovers, a working capital loan sized to the dip and repaid from the builder's payments fits. If every new contract produces the same dip, a line of credit that you draw at each rough-in and repay at each payment can be the better tool.
To see what a fixed loan payment would look like, plug an amount, a partner's rate and a term into the construction business loan calculator. It estimates the payment, total interest and total repaid; the worksheet above stays a by-hand exercise.
What to send a funding partner
- The worksheet itself, even in rough form
- The builder contract showing the payment stages
- Recent bank statements
- A list of open invoices, including retainage held
- Your license number and any existing equipment loans
A partner reading a worksheet like the one above can see the dip, the recovery and where repayment comes from. That gives the conversation more context than an amount alone.
Other funding an electrical firm can consider
Vans, bucket trucks and trenchers are equipment financing, not working capital; keep them separate so the working capital is free for materials. The electrical contractor page covers those needs, and county figures are on the Sanford, NC page.
