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NAICS 424510, industry

NAICS 424510: Grain and field bean merchant wholesalers

NAICS 424510 is the industry code for grain and field bean merchant wholesalers. Use it on loan applications, tax forms and registrations. Lenders price it on the business's own numbers rather than an industry program.

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What 424510 covers

Businesses here buy grain and field beans such as corn, wheat, soybeans and dry beans from farmers and resell them, often operating country grain elevators.

Included in this code

  • Country grain elevators that buy and sell grain
  • Grain merchants
  • Soybean and corn buyers
  • Dry bean dealers

Not this code

Businesses that use 424510

Country grain elevatorGrain merchandiserDry bean dealer

Financing for this trade

Grain merchants use large seasonal lines of credit secured by grain inventory and hedged positions, often from agricultural lenders. Lenders review hedging practices, warehouse licenses and commodity exposure.

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Is 424510 the right code for a grain elevator?

Yes, if you buy grain or field beans from farmers and resell them to processors, exporters or feeders, including country elevators that merchandise grain. Elevators that only store grain for a fee use 493130. Farms selling their own crops use crop codes.

What is the SBA size standard for 424510?

The SBA size standard for 424510 is 200 employees. SBA counts the average number of people on payroll, full time, part time and temporary, over the last 24 months, and adds in any affiliates. A grain elevator under that headcount counts as small for SBA 7(a) and 504 loans and for federal small business contracts, whatever its revenue.

What financing do grain elevators use?

Seasonal inventory lines from agricultural banks or the Farm Credit System fund grain purchases at harvest, secured by grain and hedged positions. Bins, dryers and conveyors are financed with equipment and real estate loans. Lenders want hedging policies, warehouse licensing and proof of position limits.

What does NAICS 424510 cover?

Grain and field bean merchant wholesalers. Industry level code in NAICS 2022, under 42 Wholesale trade, 424 Merchant wholesalers, nondurable goods, 4245 Farm product raw material merchant wholesalers, 42451 Grain and field bean merchant wholesalers.

What financing do NAICS 424510 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 424510?

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.