Harborfield Business Capital arranges business loans for electricians and electrical contractors in Waukesha, WI and Waukesha County, WI: working capital for wire, gear and payroll during new-construction phases, equipment financing for vans, lifts and tools, and lines of credit for recurring draw gaps. The county had 156 electrical contractors in 2023 (CBP). Partners decide.
| Electrical contractors | 156 employers with payroll in the CBP 2023 file |
|---|---|
| Employees | 3,846 (CBP 2023) |
| Employees per establishment | Roughly 24.7, dividing CBP 2023 employees by establishments |
| Under 5 employees | 53.8% (CBP 2023) |
| ZIP 53186 shops | 17 (ZBP 2023) |
| Nonemployers, NAICS 23821 | 142 (NES 2024) |
Where an Electrical Contractor's Cash Goes
Electrical work is material-heavy. Wire, conduit, panels, fixtures and, on commercial jobs, switchgear with long lead times can be paid for weeks before the electrician bills for the phase. Larger contractors also carry journeyman and apprentice payrolls that do not pause between phases. Working capital for electrical contractors can be mostly about funding those two costs until the draw clears.
Service electricians can face a smaller version of the same problem: a stocked van and a few weeks of payroll before residential and small-commercial customers pay.
Structures That Fit Electrical Work
| Need | Structure |
|---|---|
| Wire, gear and payroll during a new-construction phase | Working capital |
| Recurring gaps across several open jobs | Line of credit |
| Vans, bucket trucks, scissor lifts, trenchers, testers | Equipment financing |
| A larger shop or a second branch | Term loan |
Electrician equipment financing options range from a single thermal camera to a fleet of upfitted vans. The item secures the financing in both cases, but partners may review a fleet request more like a term loan, with closer attention to revenue.
A Worked Example: One Commercial Phase
Illustration only, not an offer: an electrical contractor wins the rough-in on a small commercial building. Gear and wire for the phase cost $38,000, paid within 30 days of delivery, and a six-person crew earns $14,400 every two weeks. The phase runs six weeks, so payroll totals $43,200, and the general contractor pays the $95,000 draw 30 days after the phase is approved. Roughly $81,000 goes out before the draw comes in.
Seeing the figure that way helps frame the choice. If this is one unusual job, working capital can fit. If every job looks like this, a revolving line sized to the overlap may fit better; compare the total dollar cost of each.
What Partners Review for Electrical Companies
- Bank statements showing draws, supplier payments and payroll
- Open contracts with their phase and payment schedules
- Receivables, including any retainage held
- Existing vehicle and equipment financing
- The entity's registration and the licenses its work requires
Waukesha County, WI Electrical Shops by Size
County Business Patterns counted 156 electrical contractor establishments in Waukesha County, WI in 2023, employing 3,846 people with about $326.3 million in annual payroll. That works out to roughly 24.7 employees per establishment (our arithmetic), far more than the roughly 5.6 per residential builder in the same source. Just over half (53.8%) still had fewer than five employees, so the average is pulled up by a smaller number of larger establishments.
ZIP 53186 had 17 electrical contractors (ZBP 2023). Nonemployer Statistics counted 142 electrical nonemployers in 2024 at NAICS 2022 code 23821, a separate program not added to the CBP figures. For the wider county picture, see the Waukesha, WI figures page.
Related Pages for the Trades
Electrical work sits under the broader contractor and builder page, which covers retainage and heavy equipment. Other trades are on the industry overview.
