Financing for Contractors in Myrtle Beach, SC: Skid Steers, Tool Trailers and Work Trucks

A contractor’s costs fall into machines and trailers, vehicles, repairs, and materials for jobs already under contract. Each points to a different product; building a structure does not, because construction loans are outside this site. Specialty trades such as electricians, plumbers and finishing crews make up most of the county’s construction employers, as the counts below show.

A funding partner may look at bank statements, time in business, revenue and credit, and sets the terms. Grounds crews and auto repair shops share this group on the industries page.

Illustration only, invented figures: a Myrtle Beach, SC concrete and flatwork contractor finds a used skid steer at $34,700 and adds a 7-by-16-foot enclosed tool trailer at $9,850, $44,550 together. Financing the pair for four years at 10.55% sets a monthly bill of $1,141.71, and by the last of those 48 bills the contractor has paid $54,802.08, which is $10,252.08 above the price (our arithmetic).

In this invented example, both items sit on one schedule. A funding partner may prefer to finance them separately, since a trailer and a used machine can carry different terms, so keeping the two quotes separate leaves that choice open.

The equipment financing page works through a used mini excavator with a down payment; the case here adds a trailer and puts both items on one schedule with no cash down.

County Business Patterns counted 1,182 construction employer establishments in Horry County, SC in 2023; 797 of them were specialty trade contractors, and 517 of those had fewer than five employees. ZIP Code Business Patterns counted 171 construction employer establishments at ZIP 29577 addresses the same year.

Nonemployer Statistics counted 2,983 specialty trade contractors with no paid employees in the county in 2024, a separate program never added to the employer counts. A one-person trade business and a firm with crews can request the same products.

Illustration only, invented figures: a Horry County, SC electrical contractor buys a work truck with a utility body for $52,300 and puts $6,000 down, financing $46,300. At 9.95% over 60 months, the payment is $982.60, and the 60 payments total $58,956.00; with the down payment, the truck costs $64,956.00 in all, $12,656.00 of it interest (our arithmetic).

In this invented example, the truck carries the crew, ladders, wire and tools to job sites, a work vehicle like a van or a service-body pickup. A larger down payment lowers both the payment and the interest; a funding partner may set its own minimum.

Illustration only, invented figures: a Myrtle Beach, SC site contractor’s compact track loader needs an $8,740 undercarriage repair. The owner draws $8,740 from the company’s credit line at 14.35% and pays it down in four monthly payments of $2,250.71, $9,002.84 in all, so the repair costs $262.84 in interest (our arithmetic).

Repairs arrive without weeks of notice, which is the case for a line set up before it is needed: the limit is in place, and a draw can be taken when the shop’s invoice arrives, under the line’s agreement. The line of credit page explains draws and limits; the Myrtle Beach, SC page has ZIP 29577 figures for more trades.