Aspenhollow Business Capital, based in Olympia, WA, arranges contractor business loans through funding partners: equipment financing for machines and trucks, lines of credit for payroll between draws, and working capital for materials. Thurston County, WA had 285 residential and 32 nonresidential building establishments in 2023, and 1,669 new housing units were permitted in 2025.
| Residential building establishments | 285 (CBP 2023, NAICS 2361) |
|---|---|
| Share under 5 employees | 74.4% |
| Nonresidential building establishments | 32 (CBP 2023, NAICS 2362) |
| Housing units permitted, 2025 | 1,669 (Building Permits Survey) |
| Residential builders with no employees | 361 (NES 2024, NAICS 2361) |
Crews weekly, draws later: a builder's money calendar
A builder's money can move in a predictable, uncomfortable order. Materials are ordered when the job starts, sometimes on 30-day supplier terms. Crews are paid weekly. The owner or general contractor releases a draw only after a stage passes inspection, and retainage may hold back part of every draw until the job closes. On a residential build, the gap between the first payroll and the first draw can run several weeks.
Construction business loans exist to bridge that order of events, not to cover losses. A request reads well to a partner when it ties each dollar to a stage of a contract.
Where the money goes on a typical job
- Crew payroll every week, regardless of when the draw lands
- Materials on supplier terms that can expire before the owner pays
- Equipment: excavators, skid steers, trailers, lifts and work trucks
- Insurance and bonding paid up front for each job
- Retainage held back until completion, sometimes for months
Which funding fits which need
| Need | Option to compare | Why it fits |
|---|---|---|
| Payroll between draws, every job | Construction business line of credit | Draw when payroll is due, repay when the draw clears |
| One large job with a long first draw | Working capital for a construction company (single big job) | A lump sum sized to the gap, repaid on a schedule |
| Excavator, trailer or truck | Equipment financing | The machine secures the agreement; term matches its working life |
| Shop, yard or office build-out | Term loan | Fixed payments for a long-lived improvement |
A construction line of credit can fit a contractor, because the gap can repeat on every job. A home builder line of credit works the same way, though partners may ask more about pre-sales and the builder's track record.
Illustrative example: a framing subcontract
A hypothetical example, for illustration only. A framing crew of six takes a $96,000 subcontract over eight weeks. Payroll is $9,000 a week; lumber is $30,000, due in week four. The general contractor pays every four weeks, about a week after each invoice, and holds back 10% as retainage until completion.
The first invoice ($48,000) brings in $43,200 after retainage in week five. By the end of week eight the crew has paid $72,000 in wages and $30,000 for lumber, so it is carrying a gap of $58,800 until the second draw arrives in week nine, and the $9,600 of retainage comes later still. A line drawn for that gap and repaid from the draws matches the problem; a long-term loan for the same amount would keep costing after the job is paid.
Contractors in Thurston County, WA
Residential building construction (NAICS 2361) had 285 employer establishments in Thurston County, WA in 2023, with 1,104 paid employees and $59.4 million in annual payroll. 212 of them, or 74.4%, had fewer than five employees. Nonresidential building construction (NAICS 2362) added 32 establishments with 562 paid employees (County Business Patterns 2023). ZIP 98501 alone held 47 residential builders (ZIP Code Business Patterns 2023).
A separate program counted 361 residential builders with no employees at all (Nonemployer Statistics 2024, NAICS 2361); employer and nonemployer counts are never added together. Across the whole Construction sector, the county had 873 employer establishments and 5,882 paid employees (CBP 2023).
Permits as context
Permits are one public signal of building activity. Thurston County, WA permit offices authorized 1,669 new privately owned housing units in 2025, up from 1,222 in 2024 and 1,512 in 2023 (U.S. Census Bureau, Building Permits Survey). Of the 2025 units, 743 were single-unit homes and 908 were in buildings of five or more units. These counts cover new residential units only, not remodels or commercial work.
Spec homes, custom homes and remodels
Residential builders in Thurston County, WA can do three kinds of work with different cash timing. A custom home is funded by the owner's construction loan, which releases draws after inspections. A spec home is funded by the builder until it sells, which is a far bigger and longer gap. A remodel may be paid in a few installments by the homeowner. A partner may weigh them differently, since draw-based custom work has scheduled draws and spec work does not.
Business funding through partners covers the builder's operating needs: crews, equipment and materials. Land and construction mortgages for spec homes are a different product that we do not arrange.
What partners commonly review
- Business bank statements showing deposits from draws
- Current contracts, with draw schedules and retainage terms
- A schedule of work in progress
- Dealer quotes, when equipment is part of the ask
- Every loan, lease and lien already on the books
- Owner credit; time in business
Contractor registration status also comes up; the Washington contractor registration guide explains what a partner may look for. Partners do not publish thresholds.
Finishing and mechanical trades, covered separately
Finishing trades have a separate page, painting, drywall and flooring contractors, as do plumbing and HVAC contractors. Electrical, roofing and specialty contractors are covered on all industries. County context is on the Olympia, WA page.
By Aspenhollow Business Capital · Updated