Powered by LevrNAICS 623110: Nursing care facilities (Skilled nursing facilities)
NAICS 623110 is the industry code for nursing care facilities (skilled nursing facilities). Use it on loan applications, tax forms and registrations. Explore financing for medical and dental and start your application when you are ready.
What 623110 covers
Skilled nursing facilities provide inpatient nursing and rehabilitation care around the clock for people who need ongoing medical attention, including short term rehab after hospital stays and long term care.
Included in this code
- Skilled nursing facilities
- Nursing homes
- Inpatient hospice facilities
- Convalescent and rehab care homes
- Memory care with skilled nursing
Not this code
- Assisted living: see 623312 Assisted living facilities for the elderly
- Continuing care retirement communities: see 623311 Continuing care retirement communities
- Home health care: see 621610 Home health care services
Businesses that use 623110
Financing for this trade
Nursing home operators and owners finance with HUD 232 insured mortgages, bridge loans, SBA 7(a) and 504 for smaller operators, and accounts receivable lines against Medicare and Medicaid. Lenders look at occupancy, quality mix, star ratings, survey history and the operator's track record.
Apply for funding with AIIs 623110 the right code for a skilled nursing facility or nursing home?
Yes, if your facility provides round the clock skilled nursing care, whether for short term rehab or long term residents. Inpatient hospice houses also fit here. Assisted living without skilled nursing uses 623312. Campuses offering independent living through nursing care under one contract use 623311.
What is the SBA size standard for 623110?
SBA sets the size standard for 623110 at $34 million in average annual receipts, averaged over the last five completed fiscal years and counting affiliates. Skilled nursing facilities 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 skilled nursing facilities fall well inside the limit, so size is rarely what decides an SBA application.
How are nursing homes financed?
Owners commonly use HUD 232 insured mortgages for long term financing, bridge loans while turning around a facility, and SBA 7(a) or 504 loans for smaller acquisitions. Receivables lines bridge Medicare and Medicaid payments. Lenders look at occupancy, payer mix, star ratings, survey results and operator experience.
What does NAICS 623110 cover?
Nursing care facilities (Skilled nursing facilities). Industry level code in NAICS 2022, under 62 Health care and social assistance, 623 Nursing and residential care facilities, 6231 Nursing care facilities (Skilled nursing facilities), 62311 Nursing care facilities (Skilled nursing facilities).
What financing do NAICS 623110 businesses use?
Equipment financing, working capital, SBA loans and invoice factoring are the products placed most for medical and dental businesses. Start an application and the AI matches the deal to lenders that fund this code.
Where do I put NAICS 623110?
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.