Lakereach Funding Group helps Williamsport, Pennsylvania manufacturers request machinery finance, leases, raw-material lines and payroll bridges. Manufacturing employed 7,623 people in Lycoming County, PA in 2023, the second-largest sector by employment (County Business Patterns); partners review each request.
At a glance
- Manufacturing employers, Lycoming County, PA
146, with 7,623 employees (CBP 2023)
- Manufacturing payroll, Lycoming County, PA
$488.9 million, second to health care (CBP 2023)
- Fabricated metal product manufacturers, Lycoming County, PA
35 employers, 887 employees (CBP 2023)
Lycoming County, PA Manufacturing in Census Counts: 146 Plants and 7,623 Jobs
County Business Patterns counted 146 manufacturing employer establishments in Lycoming County, PA in 2023, with 7,623 paid employees and $488.9 million in annual payroll. By employment and by payroll, manufacturing ranked second among the county's sectors, behind health care and social assistance. Only 26.0% of the plants had fewer than five employees.
| Group (NAICS) | Employer establishments | Paid employees | Annual payroll |
|---|---|---|---|
| Fabricated metal products, incl. machine shops (332) | 35 | 887 | $54.7 million |
| Food manufacturing (311) | 14 | 1,269 | $84.5 million |
| Printing and related support (323) | 9 | 215 | $9.9 million |
| All manufacturing (31-33) | 146 | 7,623 | $488.9 million |
Food manufacturing had fewer plants than fabricated metal but more employees and a larger payroll.
Machinery Finance Check When Lycoming County, PA Machine Shops Need Lathes
Before a machine shop finances a lathe, a few checks keep the request clean. Is the machine new or used, and if used, what are its hours and condition? Will it replace an older machine or add capacity? Which jobs or customers will it run, and how soon? What does tooling, rigging and installation add to the price?
A partner reads the machine quote, the shop's financial statements and, for added capacity, the work the machine is meant to take on. Fabricated metal product manufacturers, the group that includes machine shops, numbered 35 employer establishments in Lycoming County, PA in 2023, and 14 of them had fewer than five employees (County Business Patterns).
Machinery Finance Bank Around Williamsport, PA for Long Receivables
Banks finance machinery, and so do equipment finance companies, manufacturer finance arms and dealer programs. A bank may offer a lower cost to an established plant with strong statements, but it reads the whole business. An equipment finance company may focus more on the machine and its resale value.
Long receivables shape the request either way. A plant that waits 60 or 90 days for payment carries payroll and raw-material bills in between, and a partner will want to see how the new machine's output turns into cash on those terms.
Machinery Finance Resources: How Williamsport, PA Machine Shops Use Them
Machinery finance resources for a shop include more than the lender: the machine dealer's own finance program, used-machinery dealers who can supply an appraisal, and the Penn State SBDC, which the Pennsylvania SBDC network lists as serving Lycoming County. Ask any center about fees.
Machinery, equipment and supplies merchant wholesalers numbered 41 employer establishments in Lycoming County, PA in 2023, and commercial and industrial machinery repair firms 16 (County Business Patterns). Those are the trades that sell, service and value the machines a plant finances.
How Does Leasing Machinery Work? Answers for Williamsport, PA Machine Shops
A machinery lease lets a shop use a machine while the lessor owns it. A fair-market-value lease carries lower payments and ends with a choice to return, renew or buy at the then-market price. A buyout lease, often called a dollar-out or fixed-purchase lease, carries higher payments and ends with ownership for a set price.
Leases suit machines a shop expects to replace on a cycle, such as CNC equipment that goes out of date. A loan suits machines it expects to run for many years. Ask your accountant how each would be treated for tax purposes before choosing.
Business Loans for Manufacturing Business, With Forklifts as the Williamsport, PA Example
Forklifts are among the most common plant purchases: electric or propane, new or used, with batteries and chargers on top for electric units. A forklift fits equipment financing over its working life, and some dealers bundle maintenance into a lease.
A plant adding a shift may need two or three forklifts, racking and a dock leveler at once. One request can cover them together, with the equipment securing the financing.
Manufacturing Equipment Loans Around Williamsport, PA for Raw Material Buys
Raw materials are bought before anything is made. A plant pays for steel, lumber, resin or packaging, makes the product, ships it, and then waits on its customer. A line of credit fits that loop better than a fixed loan, because it is drawn for each order and paid down when the customer pays.
A manufacturing equipment loan and a raw-material line can sit side by side. The loan pays for the machine; the line carries the materials it turns into product.
An Invented Press Brake Purchase Set Against 60-Day Customer Terms
Illustration only, invented figures: a fabricator buys a $185,000 press brake with $18,500 down and finances the rest over 84 months at an invented annual rate of 9.0%: a payment of $2,678.83 a month.
In this invented case, the fabricator's customers pay on 60-day terms, and at any time about $210,000 is owed to it in receivables. The press brake adds work, but the money for that work arrives two months after the steel is bought. A line of credit secured by receivables carries the gap, while the equipment loan carries the machine. A partner would read the receivables aging and the customer list to see how concentrated sales are.
More detail lives on other Lycoming County, PA trades, the city page with ZIP counts, money for payroll gaps and equipment financing.
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