Swiftstead Commercial Capital, a small-business funding broker in St. Cloud, Minnesota, works with four sectors its lending partners have confirmed: construction, restaurants, medical and dental practices, and retail. In Stearns County in 2023 there were 540 construction, 355 food service, 290 ambulatory health care and 635 retail employer establishments. Partners decide every request.
| Construction | 540 establishments, 7,054 employees (CBP 2023) |
|---|---|
| Food service and drinking places | 355 establishments, 6,227 employees (CBP 2023) |
| Ambulatory health care | 290 establishments, about $473.7 million payroll (CBP 2023) |
| Retail trade | 635 establishments, 11,013 employees (CBP 2023) |
| Not funded | Agriculture and trucking |
The four sectors in Stearns County, MN
| Sector (NAICS) | Establishments | Paid employees | Under 5 employees |
|---|---|---|---|
| Construction (23) | 540 | 7,054 | 68.9% |
| Food service and drinking places (722) | 355 | 6,227 | 27.0% |
| Ambulatory health care (621) | 290 | 4,881 | 41.4% |
| Retail trade (44-45) | 635 | 11,013 | 36.7% |
Source: U.S. Census Bureau, County Business Patterns 2023. Retail has the most establishments, construction has the highest share of very small firms, and ambulatory health care pays the highest wages per establishment of the four.
Construction and the trades
Of the county's 540 construction employers, 345 were specialty trade contractors and 150 built buildings; a separate 2024 count found 1,118 construction businesses with no payroll at all (Nonemployer Statistics 2024). Contractors pay crews and suppliers long before a job pays them, and they run machines that cost more than a month's revenue. Contractor and construction financing covers draws, equipment and credit lines.
Restaurants and food service
Stearns County had 355 food service and drinking place employers in 2023, 279 of them restaurants and other eating places, employing 5,487 people. Kitchens fail at inconvenient moments and dining rooms wear out. Restaurant and food service financing covers equipment, remodels and payroll timing.
Medical and dental practices
Ambulatory health care counted 290 employer establishments in the county in 2023, including 45 physician offices and 55 dental offices, with about $473.7 million in payroll. Practices finance chairs, imaging and software and wait on insurers to pay. Medical and dental practice financing covers both.
Retail and wholesale
The county's 635 retail employers had 11,013 paid employees in 2023, and 197 wholesalers added 4,191 more; a further 1,050 retail businesses ran without payroll in 2024 (Nonemployer Statistics 2024). Retail cash sits on shelves until it sells, which is the job inventory financing was built for. A dedicated retail page is planned; until then, the inventory page and local figures and contacts cover the sector.
Which structure fits which sector
| Sector | Often fits | Sometimes fits |
|---|---|---|
| Construction | Equipment financing, line of credit | Working capital between draws |
| Restaurants | Equipment financing, term loan for a remodel | Working capital |
| Medical and dental | Equipment financing, term loan | Line of credit for reimbursement gaps |
| Retail and wholesale | Inventory financing, line of credit | Term loan for a fit-out |
Documents partners request by sector
- Contractors: contracts or bids, a receivables aging list, and the quote for any machine.
- Restaurants: card processing statements and the equipment quote.
- Practices: payer mix and reimbursement timing, plus the vendor quote.
- Retailers: sales by month, stock turnover and the supplier order.
Businesses outside these four sectors
Agriculture and trucking are outside what our partners fund. Other businesses can still call, but partners have confirmed these four sectors, and options elsewhere may be fewer.
By Swiftstead Commercial Capital ยท Updated