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TIN vs. EIN: What’s the Difference and Why Do You Need Them? 

By Joe

TIN vs EIN

Key Takeaways

  • A TIN is any tax ID used for individuals or businesses.
  • An EIN is a type of TIN used to identify businesses.
  • Sole props and single-member LLCs may use an SSN as a TIN.
  • Most LLCs need an EIN to bank, file taxes, or get licenses.
  • The IRS issues EINs, ITINs, ATINs, and PTINs; the SSA issues SSNs.
  • You can apply for an EIN free on the IRS site.
  • TINs appear on tax forms, ID letters, and official records.
  • TINs are private, but some EINs show up in public filings.

In business, we throw a lot of acronyms around: LLC, SIC, KPI… TIN and EIN are two acronyms that look similar and are often confused, but they refer to different things. 

A TIN is a broad term, while an EIN is one specific type of TIN used for business purposes. Here, you’ll learn the key differences between the two as well as when and why you need a TIN vs. EIN.  

This is what’s in store: 

  • What is a TIN vs. EIN?
    • What is a TIN?
    • What is an EIN?
  • Do You Need a TIN for Your LLC?
  • Where to Find Your Tax ID Number
  • Frequently Asked Questions
  • Final Takeaway

Now, let’s learn! 

What is a TIN vs. EIN? 

In short, a TIN is a “Tax Identification Number,” and an EIN is an “Employer Identification Number.” Both are issued by U.S. federal agencies to individuals or businesses for tax purposes. Let’s take a closer look at each.

Disclaimer: This article is for general information only and isn’t tax advice. For help with your specific situation, talk to a qualified tax professional or accountant.

What is a TIN? 

How to get a Tax ID number

A Tax Identification Number (TIN) is a unique number the Internal Revenue Service (IRS) uses to identify individuals or businesses for tax purposes. It can refer to a Social Security Number (SSN), an Employer Identification Number (EIN), or an Individual Taxpayer Identification Number (ITIN), depending on the situation.

A TIN may be issued by the Social Security Administration (SSA) or the IRS. 

Type of TINIssued ByUsed For
Social Security Number (SSN)SSAIdentifying U.S. citizens and eligible residents for tax and employment.
Employer Identification Number (EIN)IRSIdentifying businesses, estates, and trusts for tax filing and reporting.
Individual Taxpayer Identification Number (ITIN)IRSIdentifying individuals not eligible for an SSN, often nonresident aliens.
Adoption Taxpayer Identification Number (ATIN)IRSTemporary ID for adopted children until an SSN is assigned.
Preparer Tax Identification Number (PTIN)IRSRequired for paid tax return preparers.

You might also like: Sole Proprietorship VS LLC: How to Choose Your Entity Wisely 

What is an EIN? 

Tax ID number for business

An EIN is a type of TIN that the IRS assigns to businesses. It’s used to identify a business entity. So, an EIN isn’t a separate concept from a TIN. It’s actually one specific type of TIN used for identifying businesses. 

Businesses may use an EIN when they: 

  • File tax returns
  • Open a business bank account
  • Apply for licenses and permits

Many business formation services offer EIN application services. I rarely recommend that you take advantage of this because you can apply for an EIN on the IRS website. It’s free and only takes a few minutes. The only catch is that online EIN applications are only available during IRS business hours, Monday through Friday. 

You might also like: Can (and Should) You Be Your Own Registered Agent? 

Do You Need a TIN for Your LLC? 

If your business will open a bank account or file taxes, yes, you need a TIN. Every LLC needs a TIN for tax and business purposes. In most cases, this means getting an EIN from the IRS—even if your LLC doesn’t have employees. 

If you’re a single-member LLC or sole proprietorship with no employees, the IRS may, in some cases, allow you to use your SSN instead of an EIN. 

Your business might not need an EIN if it meets all of the following conditions:

  • It’s a sole proprietorship or single-member LLC.
  • It has no employees.
  • It does not file any excise taxes (like fuel or alcohol taxes).
  • It does not withhold taxes for non-resident aliens.
  • It does not have a Keogh retirement plan.
  • It does not need to file employment, excise, or alcohol/tobacco/firearms tax returns.

In this case, the owner may be able to use their SSN as the business’s TIN for tax purposes. However, most banks and agencies still ask for an EIN. Some business owners co-mingle their personal and business finances, but this can lead to problems. Plus, when you manage business finances through a personal account, you aren’t generally eligible for business credit.  

You might also like: No-Doc Business Loans with EIN Only: Get Funds Without Proof of Income 

Where to Find Your Tax ID Number

Where you find your Tax ID Number (TIN) depends on the type of TIN you’re looking for.

How do I find my TIN?

The most common places to find your TIN are: 

  1. SSN → On your Social Security card, on tax documents like W-2s or past tax returns, and through the SSA. If you’ve lost it, you can request a replacement Social Security card. 
  2. EIN → On your EIN confirmation letter from the IRS (Form CP 575), on tax forms like your 1120, 1065, or payroll filings, and on business bank account documents or loan applications. If you can’t find it, call the IRS Business & Specialty Tax Line at 1-800-829-4933.
  3. ITIN → On your IRS ITIN assignment letter and on tax returns you’ve filed with the ITIN.

To look up someone else’s EIN (like a nonprofit), it may be listed on public records like Form 990s.

You might also like: InDinero Unveiled: A Detailed Accounting & Tax Platform Review 

Frequently Asked Questions

Can I use my SSN as my TIN?

When filing taxes as an individual, yes. As a business, maybe. If you’re a sole proprietor or single-member LLC with no employees, your SSN can serve as your TIN. But you’ll need an EIN to hire, open a business bank account, or get licenses.

How do I know if I have an EIN or TIN?

If you applied for an EIN from the IRS, you have one. An EIN is a type of TIN. If you use your SSN for taxes, that’s your TIN. Check past tax forms or your EIN confirmation letter to be sure.

How can I get an ITIN? 

To get an ITIN, file Form W-7 with the IRS, along with your federal tax return and proof of identity.

Is there a difference between EIN and ITIN?

Yes, an EIN is for businesses, while an ITIN is for individuals who can’t get an SSN, like some nonresident aliens.

How do I find out who a TIN belongs to?

You usually can’t because TINs are private. But, EINs for nonprofits or public businesses might appear on public tax documents like Form 990.

Final Takeaway

TINs and EINs might look similar, but they serve different roles in the world of taxes and business. A TIN is any tax ID used to track individuals or entities, while an EIN is the go-to ID for businesses. 

Whether you’re just starting out or growing your LLC, knowing which number you need—and how to get it—can help keep your finances legit, organized, and ready for whatever comes next.

Ready to learn how to obtain up to $100K in business credit in as few as 30 days? Join Business Credit Workshop today!

InDinero Unveiled: A Detailed Accounting & Tax Platform Review

By Joe

InDinero review

InDinero advertises itself as a business-saving solution to manage business accounting and taxes. And, may seem like a great, convenient option, especially when you want quick answers. 

But, is InDinero everything it’s cracked up to be? Here, I’ll share everything I know about the platform, the company, and insights to help you decide whether this is the right answer for your business needs. 

This is what’s in store. 

  • What is InDinero?
    • InDinero Pricing
    • Company Overview
  • What Does InDinero Do?
    • 1. Accounting + Bookkeeping
    • 2. CFO Advisory
    • 3. Business Tax Services
    • 4. Financial Planning & Analysis (FP&A)
  • Conclusion: Is InDinero Legit?

Now, let’s roll! 

What is InDinero? 

InDinero accounting

InDinero is a comprehensive financial services company designed to assist businesses with various aspects of their financial management. 

They offer services like: 

  • CFO (Chief Financial Officer) support
  • Tax planning and filing
  • Payroll
  • Accounting
  • Bookkeeping

Their CFO services provide strategic financial guidance, including budgeting, forecasting, and cash flow management to help you make informed decisions. For accounting and bookkeeping, InDinero aims to simplify financial processes, reduce errors, and enhance efficiency. They also specialize in tax planning to optimize strategies and minimize liabilities.

InDinero offers a blend of software and human support to handle complex financial tasks—It provides businesses with proactive advice and guidance to navigate the path towards growth and profitability.

You might also like: 1-800Accountant Reviews: Expectations vs Reality 

InDinero Pricing

How much does InDinero cost?

InDinero offers three pricing plans tailored to different business needs:

  • Essential package – Starting at $750 per month, this package is for  businesses with straightforward financial needs to leverage top-notch software for daily bookkeeping and on-demand financial reports.
  • Growth package – Starting at $1250 per month, this one’s ideal for established businesses looking to expand, managed by professionals who handle accrual accounting and facilitate scalability via platforms like Quickbooks Online or NetSuite.
  • Executive package – With custom pricing, the executive package is tailored for dynamic businesses with complex needs and offers advanced services like revenue recognition, detailed budget analysis, and personalized solutions.

To get accurate pricing and ensure you receive the right services for your business, reach out to InDinero for a customized quote.

You might also like: Melio Payments Review: Can It Make Business Payments & Getting Paid Easier?

Company Overview

InDinero location

InDinero Inc. is a private, for profit, San Francisco-based company that was founded in 2009 by Jess Mah, Andy Su, and Andrea Barrica. The company is registered, active since 2010, and in good standing with California’s Secretary of State. 

Mah is also the “Head Honcho” at investment firm, Mahway, and a board member of biotechnology research institution, Astonishing Labs. 

InDinero founder Jess Mah

InDinero’s current CEO is John Frazier. Prior to starting at InDinero in January 2022, Frazier was a member of the advisory board at Technology Services Industry Associates (TSIA) and the COO of technology consulting company, Synoptek, before that. He also worked previously at Deloitte and JDA software.  

Who is the CEO of inDinero?

Leadership seems to have a strong technology background that most employees seem to support. According to Glassdoor, 61% of InDinero’s staff would recommend the company to a friend and 68% approve of the CEO. 

InDinero CEO

What staff has to say about a company says at least as much as what users think. InDinero’s G2 reviewers give the company an overall 4-star rating. For some reason. Despite being around for so many years, InDinero doesn’t have any ratings on Trustpilot. 

InDinero reviews

Likewise, one customer review (1-star) on the Better Business Bureau isn’t enough to gauge the way people think of the company. But, in InDinero’s favor, no complaints are listed on the platform, and they have an A+ rating.

InDinero reviews BBB

I found a couple of pending lawsuits against InDinero – One claiming that InDinero misappropriated funds and another that an employee was wrongfully terminated. 

InDinero lawsuit

These allegations don’t have anything to do with how InDinero handles customer accounts, but it could speak to their overall business ethics. Keep in mind, the jury is still out on this.  

You might also like: Gusto Review: Let’s Really Evaluate This Famed Payroll Platform 

What Does InDinero Do? 

InDinero combines financial technology with outsourced accounting and bookkeeping services to give you financial data and help drive your business strategy. Whether you’re a startup or an established enterprise, InDinero might be a good place to get comprehensive guidance and support.

Read on to decide if this looks like an offer you might want to cash in on. 

You might also like: Comprehensive ZenBusiness Review: Is it Legit for LLCs? 

1. Accounting + Bookkeeping

Financial Accounting Services

InDinero’s accounting and bookkeeping services cover a wide range of essential financial tasks for businesses. This includes managing accounts receivables and payables, ensuring timely and accurate tracking of financial transactions. 

They handle expense tracking, invoicing, and generate detailed reports to provide insights into financial performance. Additionally, InDinero takes care of payroll processing and performs reconciliations to ensure that financial records are accurate and up-to-date.

2. CFO Advisory

inDinero revenue

InDinero provides strategic financial leadership through their CFO advisory services—This involves offering valuable insights and guidance to businesses in key financial decisions. Their team assists in due diligence processes, especially useful during mergers, acquisitions, or fundraising activities. 

InDinero also manages investor relations, helping you communicate effectively with stakeholders. The focus is on driving profitability through operational consulting, optimizing financial strategies to achieve business goals.

3. Business Tax Services

Accounting services company

InDinero’s business tax services cover comprehensive tax compliance for federal, state, and local regulations. They assist businesses in maximizing tax benefits, including R&D tax credits. 

InDinero identifies tax savings opportunities by leveraging tax credits, deductions, and strategic entity structuring. They provide proactive tax planning to optimize tax liabilities and ensure businesses are compliant with ever-changing tax laws.

4. Financial Planning & Analysis (FP&A)

InDinero technology solutions

InDinero’s FP&A services focus on helping businesses plan and forecast their financial future. They assist in budgeting processes, ensuring that financial resources are allocated efficiently. 

InDinero conducts scenario modeling to evaluate potential outcomes under different circumstances, enabling businesses to make informed decisions. They analyze key performance indicators (KPIs) to measure business performance and develop financial models that support strategic planning and growth initiatives.

Conclusion: Is InDinero Legit? 

InDinero is a reputable firm that merges state-of-the-art financial technology with skilled accounting and bookkeeping services to analyze financial data and provide practical guidance. Whether you’re a startup tackling growth hurdles or an established business aiming to enhance financial strategies, InDinero is dedicated to supporting businesses throughout their journey to financial success.

Is this something you need? Well, if it’s worth investing $750+ per month to find out, then it seems to me like a decent platform to try. However, I always advise that you shop around and make sure you know your options. 

And, if you’re the type of person who prefers in-person meetings and more personal support, then you may do better to find a local CPA or accountant to work with—This is important to consider, since InDinero works primarily remotely. 

Do you want to learn how to obtain up to $100K in business credit in as few as 30 days? Join Business Credit Workshop today!

Low-Risk NAICS Codes +Best SIC Codes for Business Credit in 2025

By Joe

low risk naics codesbest sic codes for business credit

If you register your business in a high-risk industry, it can cause all sorts of problems down the road: 

  • Limited access to credit and funding
  • Higher insurance costs
  • Increased regulatory scrutiny
  • Difficulty attracting investments
  • Challenges building partnerships

No matter what industry you’re in, choosing the right North American Industry Classification System (NAICS) codes and Standard Industrial Classification (SIC) codes can make all the difference.

Tony Hsieh once said, “Chase the vision, not the money; the money will end up following you.” I love this. 

But, how exactly can you chase your vision and ensure the money follows in a high-risk industry, never able to break even with no access to funding (and paying out your ears in insurance)?  — That’s where understanding low-risk NAICS codes and best SIC codes for business credit comes into play.

So, grab a cup of coffee, get comfortable, and let’s explore low-risk NAICS codes and the best SIC codes for business credit. 

Here’s what’s in store: 

  • NAICS Codes vs. SIC Codes: A Comparison
  • Understanding NAICS Codes
  • Identifying High-Risk NAICS Codes
  • What Industries Get the Most Funding?
  • How to Choose the Best NAICS Codes for Funding
    • What NAICS Codes Get the Most Funding?
    • Exploring SIC Codes for Business Credit
  • Frequently Asked Questions
  • Final Thoughts

Now, let’s dive in! 

NAICS Codes vs. SIC Codes: A Comparison

Best NAICS codes for small business

Let’s take a look at the key differences between NAICS codes and SIC codes.

First, the structure and scope vary. NAICS codes get a bit more detailed with their five to six-digit codes — this provides a more specific breakdown of industries. On the other hand, SIC codes keep it simple with three to four-digit numbers, offering less granularity in industry categories.

Next, their adoption and age differ. NAICS codes are the cool kids on the block, introduced in 1997 as a modern and flexible system. They all but replaced the old-timer SIC codes from the 1930s. NAICS codes are widely used these days. Meanwhile, SIC codes are still kicking around in some older databases (and history books). 

Furthermore, there are compatibility differences. NAICS codes like to play nice with international standards — this makes it easier to compare and analyze industries worldwide. SIC codes, on the other hand, are more focused on the home turf, primarily used within the U.S., and not always a match with international systems.

Finally, industry coverage deviates between systems. NAICS codes have a wider embrace, covering a broader range of industries to keep up with the modern business landscape. SIC codes, bless their old souls, might not have codes for some of the newer industry segments. NAICS codes are the more with-it choice if you want a comprehensive classification system.

In sum, NAICS codes are a fresh, versatile system, perfect for keeping up with the times and playing well with others. However, if you’re dealing with older databases, SIC codes can still be useful.

Even though they have been replaced by NAICS, government agencies and some funding companies continue to use SIC codes to classify companies based on their business activity.

Note: unless you’re a contractor for the government, you’re not required to enter a NAICS code when you register your business. However, you will need it when you file your taxes with the IRS. 

You might also like: What’s the Best Payment Processor for a Small Business? Really

Understanding NAICS Codes

As previously mentioned, NAICS stands for the North American Industry Classification System. It was developed by the statistical agencies of the United States, Canada, and Mexico to classify businesses and industries. 

NAICS codes are used to collect and analyze statistical data, facilitate comparability of data across countries, and assign businesses to specific industry categories.

The NAICS system is hierarchical and organized into sectors, sub-sectors, industry groups, industries, and national industries. At the most detailed level, there are six-digit NAICS codes. As of my knowledge cutoff in September 2021, there are over 1,000 six-digit NAICS codes covering a wide range of industries and business activities.

To select the appropriate NAICS code for your business, consider the primary activities and functions of your company. Start by identifying the core aspects of your business and the industry in which it operates. Then, find the code that best aligns with your business activities. You should select a code that accurately describes the primary nature of your business operations.

When applying for business credit, lenders consider the level of risk associated with the industry in which the business operates. Low-risk NAICS codes are less prone to economic volatility and have historically demonstrated stability. Having a low-risk NAICS code can positively influence lenders’ perception of your business, potentially increasing your chances of obtaining credit or better loan terms.

Let’s look at some examples of low-risk NAICS codes for different industries:

  • Real estate: 
    • 531110 – Lessors of Residential Buildings and Dwellings
    • 531120 – Lessors of Nonresidential Buildings (except mini warehouses)
    • 531190 – Lessors of Other Real Estate Property
  • Online retail:
    • 454110 – Electronic Shopping and Mail-Order Houses
    • 454210 – Vending Machine Operators
    • 454310 – Fuel Dealers
  • Consulting:
    • 541611 – Administrative Management and General Management Consulting Services
    • 541612 – Human Resources Consulting Services
    • 541618 – Other Management Consulting Services

For business credit purposes, I generally recommend new businesses choose an appropriate category that is very “general” (i.e. “business management”).

For comparison purposes, let’s peek at high-risk NAICS codes. 

Identifying High-Risk NAICS Codes

Certain NAICS codes are considered “high risk” due to various factors that impact business stability and profitability. 

Economic volatility, regulatory challenges, technological disruption, and environmental or safety hazards can contribute to the risk of certain NAICS codes. 

Now, here are some examples of NAICS codes that can be considered high-risk: 

  • Construction and Extraction:
    • 238910 – Site Preparation Contractors
    • 213112 – Support Activities for Oil and Gas Operations
    • 238990 – All Other Specialty Trade Contractors
  • Accommodation and Food Services:
    • 721110 – Hotels (except Casino Hotels) and Motels
    • 722310 – Food Service Contractors
    • 722511 – Full-Service Restaurants

Please note that the classification of high-risk NAICS codes can vary based on economic conditions and industry-specific circumstances. It is important to thoroughly research and analyze to assess the risk level of a particular industry and understand the potential challenges associated with specific codes.

Next, learn how choosing the right codes can impact your potential business funding.

Recommended: This is How to Leverage Business Credit to Transform Your Life 

What Industries Get the Most Funding? 

Low risk industries list

The industries that get the most funding seem to vary greatly based on the type of funding. 

For example, Kingscrowd — a sort of crowdfunding platform where venture capitalists and businesses can connect for investment opportunities — reported their top five industries for funding in 2020 as the following: 

  1. Alcohol, tobacco, and recreational drugs
  2. Food, beverage, and restaurants
  3. Consumer products, goods, and services
  4. Media, entertainment, and publishing
  5. Transportation, automotive, aviation, and aerospace

Meanwhile, WestTown Bank & Trust compiled an SBA financing report that same year, in which the highest volume industries were: 

  1. Full-service restaurants 
  2. Limited-service restaurants
  3. Offices and dentists
  4. General freight trucking
  5. Hotels and motels

Note that this list is based on the number of loans obtained, not funding amounts. 

Now, the SBA doesn’t allow some businesses to apply for funding through their programs — These include certain real estate investment firms, dealers of rare coins and stamps, banks and insurance companies, pyramid sales plans, businesses involved in illegal activities or gambling as the principal focus, non-profits, government-owned corporations, consumer and marketing cooperatives, and churches and organizations with religious objectives.

While some real estate investment firms can’t get SBA funding, $270 billion in SBA funds were allocated to commercial real estate in 2020. So, a lot of money is also poured into real estate. 

And, Crunchbase reported the six industries with the highest growth potential in 2020 in a completely separate arena than other sources: 

  1. Med/biotech
  2. Payments
  3. Cybersecurity
  4. Telehealth
  5. Remote meeting/collaboration
  6. Edtech

The answer to which industries get the most funding varies greatly, so it’s hard to say exactly. Generally, you need to look to the funding source for more information. 

Now, let’s look at how NAICS codes can affect business funding odds. 

How to Choose the Best NAICS Codes for Funding

Selecting the right NAICS codes can improve your chances of securing funding. 

First, many funding programs, grants, and loans are specifically designed for businesses in certain industries or sectors. By correctly identifying your NAICS code, you can narrow down your search for funding opportunities that are tailored to your industry, increasing your chance to find relevant funding sources.

Next, funding programs often have specific eligibility criteria based on NAICS codes. Certain programs may prioritize or exclusively support businesses in particular industries. By accurately aligning your NAICS code with your business activities, you ensure that you meet the eligibility requirements for relevant funding programs.

Furthermore, funding institutions or investors may prefer to support businesses within industries they are familiar with or have expertise in. By selecting the right NAICS code, you can better attract the attention of funders who specialize in or have a keen interest in your industry, potentially increasing their confidence in your business and improving your chances of securing funding.

Funding opportunities can vary depending on numerous factors, including economic conditions and specific funding initiatives. 

Here are a couple of examples of NAICS codes that have historically shown higher funding potential or are commonly associated with industries that receive funding support:

  • Information Technology:
    • 541511 – Custom Computer Programming Services
    • 541512 – Computer Systems Design Services
    • 518210 – Data Processing, Hosting, and Related Services
  • Healthcare and Biotechnology:
    • 621111 – Offices of Physicians
    • 621610 – Home Healthcare Services
    • 325414 – Biological Product (except Diagnostic) Manufacturing

Keep in mind that funding opportunities are subject to change. You need to conduct thorough research to identify specific funding programs, grants, or loans that are available for your industry and business needs. 

What NAICS Codes Get the Most Funding? 

According to the U.S. Department of Treasury’s Guide for Small, Minority-Owned, and Women-Owned Businesses, these are some of the NAICS codes that receive significant funding:

  • 541519 – Other Computer Related Services
  • 541512 – Computer Systems Design Services
  • 322121 – Paper (Except Newsprint) Mills
  • 517110 – Wired Telecommunications Carriers
  • 511210 – Software Publishers
  • 334111 – Electronic Computer Manufacturing
  • 541611 – Administrative Management and General Management Consulting Services
  • 541511 – Custom Computer Programming Services
  • 561720 – Janitorial Services
  • 561210 – Facilities Support Services

These NAICS codes represent industries that the Department of Treasury procures products and services from, and where a considerable amount of resources are spent. Small, minority-owned, and women-owned businesses are encouraged to market their capabilities within these industry codes to Treasury.

Let’s not forget to look at SIC codes — many lenders still rely on them. 

Exploring SIC Codes for Business Credit

SIC codes, or Standard Industrial Classification codes, were primarily used before NAICS codes to classify businesses based on their industry and activities. The US government developed them to collect, analyze, and compare data across industries.

SIC codes were last updated in 1987 and can provide insights into a business’s operations, industry risks, and historical performance (yes, even today) — These are all relevant factors to assess creditworthiness.

As with NAICS codes, to choose the best SIC code for your business, you should always do your research. Consider the primary activities and functions of your business and select an SIC code that accurately represents the industry in which your business operates. 

The best SIC code is the one that aligns closely with your business activities and industry classification and is considered low-risk by the lender you’re targeting.

With that said, here are a few SIC codes that are generally considered to have lower-risk profiles:

  • Real estate:
    • SIC 6512 – Operators of Nonresidential Buildings
    • SIC 6531 – Real Estate Agents and Managers
  • Online retail:
    • SIC 5961 – Catalog and Mail-Order Houses
    • SIC 5941 – Sporting Goods Stores
  • General business: 
    • SIC 8741 – Management Services

Of course, these examples are not exhaustive, and the relevance of specific SIC codes for obtaining business credit can depend on various factors, including the lender’s assessment criteria and industry-specific considerations. 

It’s a good idea to consult with lenders and business credit consultants to identify the most appropriate SIC codes for your business and to understand the requirements for funding. 

Recommended: Here’s How to [Actually] Get Business Credit With Just an EIN +More Options 

Frequently Asked Questions

How many NAICS codes should I use?

The number of NAICS codes you should use depends on your analysis needs. Consider factors like specificity, focus, and resource constraints. There is no fixed number; choose based on your objectives and available resources.

How might NAICS codes be most helpful?

NAICS codes are helpful for industry classification, market research, data analysis, business planning, government analysis, and business credit/funding.

What is the SIC code for financing?

The Standard Industrial Classification (SIC) code for financing is 6199.

What is the best NAICS code for a holding company?

The most suitable NAICS code for a holding company would be 551112 – Offices of Other Holding Companies.

Final Thoughts

Understanding NAICS codes and leveraging SIC codes can help you take actionable steps to secure funding and credit for your business. Identify high-risk industries, choose the best codes for funding, and stay updated on changes in coding systems. By using these codes effectively, you can unlock the doors to financial success for your business.

Want to learn how to obtain up to $100K in business credit in as few as 30 days? Join Business Credit Workshop today.

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