Powered by LevrNAICS 212210: Iron ore mining
NAICS 212210 is the industry code for iron ore mining. Use it on loan applications, tax forms and registrations. Lenders price it on the business's own numbers rather than an industry program.
What 212210 covers
Businesses classified here mine iron ore and make concentrates or pellets at the mine.
Included in this code
- Iron ore mining
- Taconite mining
- Iron ore pelletizing at the mine
- Iron ore beneficiation
Not this code
- Steel mills: see 331110 Iron and steel mills and ferroalloy manufacturing
- Metal mining support services: see 213114 Support activities for metal mining
Businesses that use 212210
Financing for this trade
Mining companies use equipment loans and leases for haul trucks, loaders and crushers, asset based lines on inventory and receivables, and term loans for land and reserves. Lenders look at permitted reserves, reclamation bonding and customer contracts.
Apply for funding with AIIs 212210 the right code for an iron ore mine?
Yes, if your business mines iron ore. The code for steel mills is 331110. Pick the code that matches the activity earning most of your revenue, and use that same code on your tax return, loan applications and SBA forms so lenders see one consistent picture.
What is the SBA size standard for 212210?
The SBA size standard for 212210 is 1,400 employees. A business at or under that headcount, counting affiliates, is small for SBA loans such as 7(a) and 504 and for federal contracting set asides. Employees are averaged across all pay periods over the past 24 months, including part time and temporary staff.
What financing do iron ore miners use?
Mining companies use equipment loans and leases for haul trucks, loaders and crushers, asset based lines on inventory and receivables, and term loans for land and reserves. Lenders look at permitted reserves, reclamation bonding and customer contracts. Lenders that already fund this trade move faster because they know how to read its cash cycle.
What does NAICS 212210 cover?
Iron ore mining. Industry level code in NAICS 2022, under 21 Mining, quarrying, and oil and gas extraction, 212 Mining (except oil and gas), 2122 Metal ore mining, 21221 Iron ore mining.
What financing do NAICS 212210 businesses use?
Term loans, lines of credit, SBA loans and working capital are the usual products. Start an application and the AI matches the deal to lenders that fund this code.
Where do I put NAICS 212210?
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.