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NAICS 624120, industry

NAICS 624120: Services for the elderly and persons with disabilities

NAICS 624120 is the industry code for services for the elderly and persons with disabilities. 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 624120 covers

These businesses provide non medical services for seniors and people with disabilities, such as in home personal care, companionship, homemaker services, adult day care and day programs. Medicare skilled home health uses a separate code.

Included in this code

  • Non medical home care
  • Companion and homemaker services
  • Personal care aides
  • Adult day care centers
  • Day habilitation programs
  • Senior centers

Not this code

Businesses that use 624120

Home care franchiseAdult day care centerPersonal care agency

Financing for this trade

Home care agencies finance growth with SBA 7(a) loans, especially for franchise purchases, and use payroll funding or receivables lines against Medicaid waiver, VA and long term care insurance payments. Lenders look at billable hours, private pay mix, caregiver retention and licensing.

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Is 624120 the right code for a non medical home care or adult day care business?

Yes, if you provide non medical help such as personal care, companionship, homemaker services or adult day programs for seniors or people with disabilities. Home care franchises commonly use 624120. If you provide skilled nursing or therapy at home, use 621610. Assisted living facilities use 623312.

What is the SBA size standard for 624120?

SBA sets the size standard for 624120 at $15 million in average annual receipts, averaged over the last five completed fiscal years and counting affiliates. Elderly and disability service providers 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 elderly and disability service providers fall well inside the limit, so size is rarely what decides an SBA application.

What financing do home care agencies use?

Franchise owners often use SBA 7(a) loans for the franchise fee and startup costs. Agencies billing Medicaid waivers, the VA or long term care insurers use receivables financing or a line of credit to make weekly caregiver payroll. Lenders look at billable hours, payer mix and caregiver turnover.

What does NAICS 624120 cover?

Services for the elderly and persons with disabilities. Industry level code in NAICS 2022, under 62 Health care and social assistance, 624 Social assistance, 6241 Individual and family services, 62412 Services for the elderly and persons with disabilities.

What financing do NAICS 624120 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 624120?

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.