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Glossary

What is NAICS Code?

The North American Industry Classification System assigns codes to classify businesses by industry. Your NAICS code tells lenders what your business does, which affects how they assess risk, whether you are eligible for certain programs, and which SBA size standard applies to you. Some lenders restrict or avoid certain industries based on these codes. Make sure the code you use on applications accurately reflects your primary business activity.

Example

A full-service restaurant and a commercial cleaning company have different NAICS codes and may face different lender criteria.

Related funding

SBA Loans: Government-backed loans with long terms for growth, real estate and acquisitions.

Related terms

Merchant Cash AdvanceNet TermsNon-Recourse FactoringAll terms

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