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NAICS 541940, industry

NAICS 541940: Veterinary services

NAICS 541940 is the industry code for veterinary services. Use it on loan applications, tax forms and registrations. Explore financing for professional services and start your application when you are ready.

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What 541940 covers

Veterinary practices diagnose and treat animals, from small animal clinics and emergency hospitals to equine and livestock vets. Veterinary testing labs and animal hospitals are included. Pet grooming and boarding without vet care are classified elsewhere.

Included in this code

  • Small animal veterinary clinics
  • Emergency and specialty animal hospitals
  • Equine and large animal veterinarians
  • Mobile veterinary services
  • Veterinary testing labs
  • Animal hospitals

Not this code

Businesses that use 541940

Small animal clinicEmergency vet hospitalMobile equine vetVeterinary dental practice

Financing for this trade

Vet practices are strong borrowers for practice acquisition through SBA 7(a) and specialty practice lenders, real estate through SBA 504, and equipment loans for digital X ray, ultrasound, anesthesia and surgical gear. Lenders look at the veterinarian's license and experience, client count, revenue per doctor and existing goodwill.

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Is 541940 the right code for a veterinary clinic?

Yes. 541940 is the code for veterinary clinics, animal hospitals, emergency and specialty vet hospitals, mobile vets, and equine and livestock veterinarians. Veterinary labs also belong here. If you groom, board or train pets without medical care, use 812910. Pet stores use a retail code.

What is the SBA size standard for 541940?

SBA sets the size standard for 541940 at $10 million in average annual receipts, averaged over the last five completed fiscal years and counting affiliates. Veterinary practices 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 veterinary practices fall well inside the limit, so size is rarely what decides an SBA application.

What financing do veterinary practices use?

Buying a practice is usually financed with an SBA 7(a) loan or a specialty practice loan, often covering goodwill. SBA 504 loans fund buildings, and equipment loans cover X ray, ultrasound, lab analyzers and surgical suites. Lenders look at the vet's experience, active client counts and production per doctor.

What does NAICS 541940 cover?

Veterinary services. Industry level code in NAICS 2022, under 54 Professional, scientific, and technical services, 541 Professional, scientific, and technical services, 5419 Other professional, scientific, and technical services, 54194 Veterinary services.

What financing do NAICS 541940 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 541940?

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.