Powered by LevrNAICS 541420: Industrial design services
NAICS 541420 is the industry code for industrial design services. Use it on loan applications, tax forms and registrations. Explore financing for professional services and start your application when you are ready.
What 541420 covers
Industrial designers create the form, function and usability of manufactured products, from consumer electronics and appliances to furniture, packaging and medical devices. Work includes concept sketches, CAD models, prototypes and design for manufacturing. The firm designs the product but does not mass produce it.
Included in this code
- Product design
- Consumer electronics and appliance design
- Furniture and housewares design
- Packaging design for manufactured goods
- Medical device industrial design
- Prototype and model development
Not this code
- Engineering design services: see 541330 Engineering services
- Graphic design: see 541430 Graphic design services
- Mechanical engineering R&D: see 541715 Research and development in the physical, engineering, and life sciences (except nanotechnology and biotechnology)
Businesses that use 541420
Financing for this trade
Product design firms are mostly people and software, so they lean on lines of credit to cover project billing gaps, equipment financing for 3D printers, CNC prototyping tools and workstations, and SBA 7(a) loans for growth or acquisitions. Lenders weigh client concentration, retainer versus project revenue, and the length of payment terms from manufacturers.
Apply for funding with AIIs 541420 the right code for an industrial or product design firm?
Yes, if you design how manufactured products look, feel and work and hand off the designs for production. Consumer product studios, appliance and electronics designers and medical device design consultancies fit here. If your work is mainly engineering analysis and calculations, 541330 is closer. Firms that do visual brand and print design belong in 541430.
What is the SBA size standard for 541420?
SBA sets the size standard for 541420 at $17 million in average annual receipts, averaged over the last five completed fiscal years and counting affiliates. Industrial design firms at or under that figure qualify as small businesses for SBA 7(a) and 504 loans and for federal small business set asides. Most independent industrial design firms fall well inside the limit, so size is rarely what decides an SBA application.
How do product design firms finance growth?
Typical tools are a business line of credit to bridge milestone billing, equipment loans or leases for 3D printers, scanners and high end workstations, and SBA 7(a) loans to fund hiring or buy another studio. Lenders review client concentration, the share of retainer work, and how reliably large manufacturer clients pay.
What does NAICS 541420 cover?
Industrial design services. Industry level code in NAICS 2022, under 54 Professional, scientific, and technical services, 541 Professional, scientific, and technical services, 5414 Specialized design services, 54142 Industrial design services.
What financing do NAICS 541420 businesses use?
Equipment financing, working capital, SBA loans and invoice factoring are the products placed most for professional services businesses. Start an application and the AI matches the deal to lenders that fund this code.
Where do I put NAICS 541420?
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.