Powered by LevrNAICS 111150: Corn farming
NAICS 111150 is the industry code for corn farming. Use it on loan applications, tax forms and registrations. Explore financing for agriculture and start your application when you are ready.
What 111150 covers
Farms classified here grow corn for grain, seed, silage or popcorn. Corn is the crop that brings in most of the farm's revenue.
Included in this code
- Field corn farming
- Seed corn production
- Popcorn farming
- Corn grown for silage
- Feed corn production
Not this code
- Sweet corn grown as a fresh vegetable: see 111219 Other vegetable (except potato) and melon farming
- Corn and soybeans grown together with neither dominant: see 111191 Oilseed and grain combination farming
- Wet corn milling: see 311221 Wet corn milling and starch manufacturing
Businesses that use 111150
Financing for this trade
Crop farms lean on seasonal operating lines repaid at harvest, equipment loans for tractors, planters and combines, farm real estate loans and SBA 7(a) for land and buildings. Lenders look closely at yield history, crop insurance coverage, owned versus rented acres and how exposed the farm is to commodity prices.
Apply for funding with AIIs 111150 the right code for a corn farm?
Yes, if your business grows corn for grain, seed, silage or popcorn and corn earns most of your revenue. If your main activity is sweet corn grown as a fresh vegetable, use 111219 instead. Pick the code that matches the activity earning most of your revenue, and use the same code on your tax return, loan applications and SBA forms.
What is the SBA size standard for 111150?
The SBA size standard for 111150 is $2.5 million in average annual receipts. A business at or under that figure, counting affiliates, is small for SBA loans such as 7(a) and 504 and for federal contracting set asides. Receipts are averaged over the five most recently completed fiscal years.
What financing do corn farmers use?
Crop farms lean on seasonal operating lines repaid at harvest, equipment loans for tractors, planters and combines, farm real estate loans and SBA 7(a) for land and buildings. Lenders look closely at yield history, crop insurance coverage, owned versus rented acres and how exposed the farm is to commodity prices. Lenders that already fund this trade move faster because they know how to read its cash cycle.
What does NAICS 111150 cover?
Corn farming. Industry level code in NAICS 2022, under 11 Agriculture, forestry, fishing and hunting, 111 Crop production, 1111 Oilseed and grain farming, 11115 Corn farming.
What financing do NAICS 111150 businesses use?
Equipment financing, working capital, SBA loans and invoice factoring are the products placed most for agriculture businesses. Start an application and the AI matches the deal to lenders that fund this code.
Where do I put NAICS 111150?
On the SBA loan application, on federal Schedule C or Form 1120, on SAM.gov and state registrations, and on most lender applications. A business can report more than one code; use this one if it describes what produces most of your revenue.