Powered by LevrNAICS 311224: Soybean and other oilseed processing
NAICS 311224 is the industry code for soybean and other oilseed processing. Use it on loan applications, tax forms and registrations. Explore financing for manufacturing and start your application when you are ready.
What 311224 covers
Businesses classified here crush soybeans and other oilseeds into oil, meal and flour, and may refine the oil.
Included in this code
- Soybean crushing
- Canola and sunflower oil pressing
- Soybean meal
- Cottonseed oil mills
- Expeller pressed oils
Not this code
- Blending and refining purchased oils: see 311225 Fats and oils refining and blending
- Soybean farming: see 111110 Soybean farming
Businesses that use 311224
Financing for this trade
Food makers use equipment loans for presses, extraction and storage, asset based lines on inventory and grocery receivables, invoice factoring, and SBA 504 or 7(a) loans for plants and expansions. Lenders look at commodity hedging, crush margins and storage capacity.
Apply for funding with AIIs 311224 the right code for a soybean or oilseed processor?
Yes, if your business crushes soybeans or other oilseeds. The code for blending and refining purchased oils is 311225. 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 311224?
The SBA size standard for 311224 is 1,250 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 oilseed processors use?
Food makers use equipment loans for presses, extraction and storage, asset based lines on inventory and grocery receivables, invoice factoring, and SBA 504 or 7(a) loans for plants and expansions. Lenders look at commodity hedging, crush margins and storage capacity. Lenders that already fund this trade move faster because they know how to read its cash cycle.
What does NAICS 311224 cover?
Soybean and other oilseed processing. Industry level code in NAICS 2022, under 31-33 Manufacturing, 311 Food manufacturing, 3112 Grain and oilseed milling, 31122 Starch and vegetable fats and oils manufacturing.
What financing do NAICS 311224 businesses use?
Equipment financing, working capital, SBA loans and invoice factoring are the products placed most for manufacturing businesses. Start an application and the AI matches the deal to lenders that fund this code.
Where do I put NAICS 311224?
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.