{"ok":true,"canonical_url":"https://dealroom.so/glossary/industry-code","api_url":"https://dealroom.so/api/public/glossary/industry-code","data_freshness":{"sba_records_through":"2026-05-31","fdic_records_through":"2026-03-31","dealroom_last_updated":"2026-06-15","timezone":"America/Chicago"},"source_summary":["Public SBA 7(a) loan records","FDIC institution data","DealRoom lender and franchise enrichment"],"term":{"slug":"industry-code","term":"Industry code","aka":"NAICS code","group":"Reading the business","definition":"This is a standardized numerical code (like a NAICS code) that classifies a business's primary economic activity. You care because it determines if the business is eligible for an SBA loan and meets size standards.","what_it_means":"Lenders use this code to cross-reference against the negative eligibility list and ensure the business meets the SBA's definition of a small business. Confirm the code accurately reflects the target business's main revenue-generating activities during due diligence.","url":"https://dealroom.so/glossary/industry-code","official_sources":[{"slug":"13-cfr-part-120","title":"13 CFR Part 120 — Business Loans","official_url":"https://www.ecfr.gov/current/title-13/chapter-I/part-120","official_label":"View on eCFR","authority_tier":1,"publisher":"Office of the Federal Register","source_guide_url":"https://dealroom.so/sba-7a/sources/13-cfr-part-120"},{"slug":"sop-50-10","title":"SOP 50 10 — Lender and Development Company Loan Programs","official_url":"https://www.sba.gov/document/sop-50-10-lender-development-company-loan-programs","official_label":"View on SBA.gov","authority_tier":2,"publisher":"U.S. Small Business Administration","source_guide_url":"https://dealroom.so/sba-7a/sources/sop-50-10"}],"related":[{"slug":"negative-eligibility-list","term":"Negative eligibility list","url":"https://dealroom.so/glossary/negative-eligibility-list"},{"slug":"size-standard","term":"Size standard","url":"https://dealroom.so/glossary/size-standard"},{"slug":"ineligible-businesses-rule","term":"Ineligible businesses rule","url":"https://dealroom.so/glossary/ineligible-businesses-rule"}],"related_questions":[{"question":"How does an incorrect NAICS code on SBA Form 1919 impact 7(a) loan eligibility for a borrower?","url":"https://dealroom.so/for-lenders/questions/how-does-an-incorrect-naics-code-on-sba-form-1919-impact-7-a-loan-eligibility-for-a-borrow"},{"question":"How does the SBA determine if a business is considered \"small\" for eligibility based on its NAICS code?","url":"https://dealroom.so/for-lenders/questions/how-does-the-sba-determine-if-a-business-is-considered-small-for-eligibility-based-on-its-"},{"question":"How does the SBA handle a loan where the business assets are mostly intellectual property, such as software code?","url":"https://dealroom.so/sba-7a/questions/how-does-the-sba-handle-a-loan-where-the-business-assets-are-mostly-intellectual-property-"},{"question":"What are the consequences if the NAICS code entered into E-Tran differs from the primary business activity in the loan narrative?","url":"https://dealroom.so/for-lenders/questions/what-are-the-consequences-if-the-naics-code-entered-into-e-tran-differs-from-the-primary-b"},{"question":"What is the specific impact if the NAICS code entered into E-Tran differs from the primary business activity described in the loan narrative?","url":"https://dealroom.so/for-lenders/questions/what-is-the-specific-impact-if-the-naics-code-entered-into-e-tran-differs-from-the-primary"},{"question":"How is my prior management experience evaluated if it's in a different industry?","url":"https://dealroom.so/sba-7a/questions/how-is-my-prior-management-experience-evaluated-if-it-s-in-a-different-industry"}]},"caveats":["Definitions represent DealRoom's plain-English interpretation for buyers; verify regulatory terms against the official SBA and eCFR sources listed.","Not legal, tax, or financial advice, and not an SBA eligibility determination."],"citation":{"label":"DealRoom.so Glossary — Industry code","url":"https://dealroom.so/glossary/industry-code","source_type":"DealRoom Data"}}