Oakridge Business Loans, a small-business funding broker in Bellingham, WA, helps Whatcom County contractors finance equipment and cover gaps between progress payments. The county had 972 construction employer establishments in 2023, 70.1 percent with fewer than five employees. Lending partners make credit decisions and set rates and terms.
| Whatcom County construction employers | 972 establishments, 9,677 paid employees (Census CBP 2023) |
|---|---|
| Annual payroll | About $816.5 million, the largest of any county sector (same source) |
| Under five employees | 70.1% of construction employer establishments |
| No-payroll construction businesses | 1,408 in 2024 (Census NES; separate series) |
| Housing units authorized | 894 (2023), 1,190 (2024), 1,214 (2025) (Census BPS) |
| Who decides | A lending partner; never Oakridge Business Loans |
The construction sector in Whatcom County, WA
Construction had 972 employer establishments in Whatcom County in 2023, more than any other sector, with 9,677 paid employees and an annual payroll of about $816.5 million (U.S. Census Bureau, County Business Patterns 2023). The sector splits into builders and trades:
| Subsector | Employer establishments | Paid employees | Share under 5 employees |
|---|---|---|---|
| Construction of buildings (NAICS 236) | 414 | 2,110 | 75.8% |
| Specialty trade contractors (NAICS 238) | 528 | 6,314 | 66.1% |
Source: U.S. Census Bureau, County Business Patterns 2023. Specialty trades, such as electricians, plumbers, HVAC, framers, roofers and concrete crews, employ about three times as many people as building contractors. Separately, 1,408 construction businesses operated with no paid employees in 2024 (U.S. Census Bureau, Nonemployer Statistics 2024); because the Nonemployer series is a separate program with a later year, it stays out of the employer totals.
Building activity behind the demand
Whatcom County authorized 894 new privately owned housing units in 2023, 1,190 in 2024 and 1,214 in 2025 (U.S. Census Bureau, Building Permits Survey). Of the 2025 units, 607 were single-family and 496 were in buildings with five or more units. Multifamily projects tend to involve larger contracts and longer pay cycles than single-family work, which matters for how much working capital a subcontractor has to carry.
These are residential permits only; they say nothing about commercial or public work, and nothing about any one contractor's pipeline.
How to finance construction equipment
Equipment is usually a contractor's largest asset and the most common reason to seek financing. The machine itself secures the deal, through an equipment loan, an equipment finance agreement or a lease.
- Mini excavator and compact track loader financing usually runs on a $1 buyout lease or a loan, since contractors tend to keep these machines for years.
- Skid steer financing works the same way, and used units are often financed too, with partners weighing hours and condition.
- Work trucks and trailers used on the contractor's own jobs can often be financed as equipment. We do not arrange financing for trucking or hauling businesses.
- Attachments and tools are sometimes bundled into the same agreement as the machine.
A dealer quote with the serial number, recent bank statements and a list of equipment you already own and finance are the usual starting documents.
Payroll between progress payments
Construction cash flow follows the job, not the calendar. Crews are paid weekly, materials are bought up front, and payment arrives in stages after each pay application is approved. Many contracts also withhold retainage, a portion of each payment held back until the work is complete, which ties up cash for longer.
That pattern is what working capital and lines of credit are built for. A line suits a contractor juggling several jobs at once; a working capital loan suits one large gap with a known end date. Partners will want to see the contract, the pay schedule and evidence of past payment from the customer.
Small loans for a small construction company
With 70.1 percent of the county's construction employers under five employees, many requests come from owner-operators. For them, personal credit, personal and business tax returns, and a clean separation of business and personal bank accounts weigh heavily. A short track record narrows the options; partners look for evidence that jobs have been completed and paid for.
Contractor registration and lenders
Partners often check that a contractor is properly registered with the state before funding.
General business registration is covered in the Washington licensing guide.
Finding general contractors in Bellingham, WA
Searches for general contractors and construction companies in Bellingham, WA come mostly from people hiring them. This page is for the other side: the firms themselves, looking to fund equipment and jobs. The county business figures and the other sectors give wider context.
By Oakridge Business Loans · Updated