What is the Standard Industrial Classification (SIC)? In what w... | Filo

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Angela O’Brien on Instagram: "Before you apply for a vehicle under your business, you need to make sure your industry AND your business name are considered low-risk. Lenders don’t just look at your credit they look at how your business is classified. You can check this by going to naics.com: ✔️NAICS codes are commonly used by banks and lenders ✔️ SIC codes are often used for vendor accounts and some credit bureaus If your industry or name falls into a high-risk category, that alone can trigger a

Amor Ashanti | Business Funding Specialist 💳 on Instagram: "Selecting the correct SIC (Standard Industrial Classification) code plays a significant role in the evaluation process for funding in several ways: 1. Industry Classification - Relevance: The SIC code categorizes your business within a specific industry, helping lenders and investors understand your market context. - Benchmarking: It allows funders to compare your business against industry standards and performance metrics. 2. Risk Ass