Certain codes are associated with industries that pose more risk than others. If you happen to choose one of these high risk codes unnecessarily. You may get a funding denial. If you understand how the system works, you can choose the best code the first time.

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A Standard Industry Classification code, or SIC is a four digit numerical code which is assigned by the U.S. government to businesses, to make it easier to identify the primary activity of the business. It is an indicator of the kind of business a company is in.

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Choosing the incorrect NAICS code could end up costing your business and get you labeled as high-risk. This could directly impact your insurance premiums, your financing ability, and even your credit limit recommendations.

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Choosing the incorrect SIC codes could end up costing your business and get you labeled as high-risk. During the COVID-19 situation, it’s more important than ever to give your business every opportunity to succeed. Better SIC codes can only help you.

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Your NAICS code is a part of the calculus of fundability™ of your business. Lower-risk codes will tend to be better. But if your business has several other positive fundability™ factors, the code matters less. A well setup business with $2 million in sales every month should be able to get money no matter what their code is.

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A Standard Industry Classification – SIC Code – may or may not be vital for SBA Paycheck Protection Program funding. Yet it is certainly important when it comes to other types of funding. Make sure yours helps you get financing!

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Which Standard Industry Classification Codes get you denied for business loans? We show you how to set up your business to ethically increase your funding chances.

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