SBA’s Smaller-size loans of up to $50,000 provided through SBA funding intermediaries.
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Government Contracting
How Do I Determine the Right NAICS Code for My Business?
On the journey to obtain your GSA Schedule contract, you will encounter North American Industry Classification System (NAICS) Codes. NAICS Codes appear at all phases of GSA contract acquisition and throughout the life of your contract. As you register your
SAM.gov account, you will have to select your NAICS Code and if you want to add new Special Item Numbers (SINs) to your contract, you will need to add the appropriate code. Government solicitations such as Requests for Proposals (RFPs) and Requests for Quotation
(RFQs) all have NAICS Codes attached to them. Each time you come across one or have to select a NAICS Code, the question is “how do I determine the right NAICS code for my business?”
We will explain the structure of the NAICS Code, where to look for the full listing of NAICS Codes, the advantages of using NAICS Codes, and finally, we will discuss how to determine the right NAICS Code for your business.
What Are NAICS Codes?
In 1997, the Office of Management and Budget (OMB) established The North American Industry Classification System (NAICS) as the standard for federal statistical agencies in classifying business establishments for the collection, analysis, and publication of
statistical data related to the U.S. business economy.
NAICS is a two-through-six-digit hierarchical classification code system, where each of the digits in the code is part of a series of progressively narrower categories. More digits in the code signify greater classification detail. The graphic below explains
what each digit means.
The Advantages of Using NAICS Codes
NAICS codes offer many benefits to companies that want to obtain a GSA Multiple Award Schedule (MAS) contract or look for contracting benefits when working with the public sector. Each opportunity that is issued by a federal agency is assigned at least one
NAICS Code. This designation allows these opportunities and contracts to be tracked for research and reportable data in the future. Often, solicitation descriptions or requests for proposals (RFPs) can be vague, so the NAICS designation can further help companies
decipher whether they are a good fit for the opportunity.
Having a NAICS Code associated with your entity when you register on SAM.gov is foundational to acquiring a GSA Schedule because it represents the preponderance of your company’s work. Selecting the proper NAICS Codes means that the SINs you submit in your
offer will be accepted by the GSA Contracting Officer.
\NAICS Codes also help you determine whether you are a small business in the eyes of the government. Small business set asides and other programs offered by the Small Business Administration (SBA) require that you meet the size standards associated with your
primary NAICS Code. The SBA developed size standards for each NAICS category. These are used to determine whether a firm qualifies as a small business or “Other than Small (OTSB)” business. Ensuring that you have the code that best fits your company means
you can unlock major government spending to boost your company.
Where to Find a Full Listing of NAICS Codes
A consolidated list of NAICS Codes can be found on the official NAICS website. On this website, you can download and sort through the available listings and the SINs that fall under each NAICS Code. The Codes available under each of the twenty sectors.
The website also has a search function where you can look up applicable codes using keywords. If your business focuses on “Information Technology” you can search this term and related NAICS Codes will appear. The breadth of listings and ensures that your company
can find its space in the federal marketplace.
How to Determine the Right NACIS Code for Your Business
Now that you know the who, what, where, and why of NAICS Codes, let’s figure out how to find the best one for your company. NAICS was designed and is presented in such a way to allow companies to self-establish the codes they work under.
You can use the NAICS set of powerful search tools to find any NAICS Code quickly and easily. By entering a keyword that describes your kind of business, you will find a list of primary business activities containing that keyword and the corresponding NAICS
Codes will appear. Choose the one that most closely corresponds to your primary business activity or refine your search to obtain other choices.
Rather than searching through a list of primary business activities, you may also browse the NAICS Codes and titles to find your code. You can select the category that applies to your business, and drill down through the more detailed levels until you find
the appropriate 6-digit code.
The Market Research function on the NAICS site is a valuable tool that every company should use before making serious decisions. NAICS can help with this aspect of your business with this powerful tool. Here you can see exactly how many companies you will be
competing against, large and small. Additionally, you can see where companies with like NAICS Codes are competing, globally and locally. Using these tools will help you direct your efforts toward assigning the NAICS Codes that best fit your entity.
Choosing the right NAICS Code means that your company can search and apply for solicitations like RFPs and RFQs, all of which have NAICS associated with them. The opportunities extend far beyond the NAICS site. The SAM.gov contracting opportunities tool can
also be sorted by NAICS Codes. Using this tool to cross reference for NAICS Code choice guarantees that you have knowledge of the opportunities in the public sector for your company to work toward.
Workshops
Join the SBA Fresno District Office for the upcoming workshops to help your business thrive. These workshops are presented via MS Teams Live and are recorded.
EIDL Repayment Webinars:
Tuesday, Oct 18th, 2022 @1100am – ATTENDEE LINK – JOIN
HERE
Tuesday, Oct 25th, 2022 @1100am – ATTENDEE LINK – JOIN
HERE
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SBA Lending
SBA Lending
SBA Fresno District Lending reports will now be available for each newsletter.
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International Trade
SBA Export Products
Export finance programs
Most U.S. banks view loans for exporters as risky. This makes it harder for you to get loans for things like day-to-day operations, advance orders with suppliers, and refinancing existing debts. That’s why the U.S. Small Business Administration (SBA) created
programs to provide lenders with up to a 90% guaranty on export loans.
Learn more about SBA export loan programs by contacting your local SBA
Export Finance Manager or SBA’s Office
of International Trade. Access a list of participating
export lenders.
Export
Express lenders can directly underwrite a loan without getting prior approval from SBA, which allows you to get capital quickly. Loans are typically approved within 36 hours, and can be up to $500,000.
Export
Working Capital loans allow small business owners to apply for loans in advance of finalizing an export sale or contract, giving exporters greater flexibility in negotiating export payment terms. These loans can be up to $5 million, and the turnaround
time is usually five to 10 business days.
Find contact
information for lenders who have delegated authority to process, close, service, and liquidate SBA-guaranteed EWCP loans.
International
Trade loans help small businesses enter international markets and make investments to compete with other importers. These loans offer a combination of fixed asset, working capital financing, and debt refinancing with SBA’s maximum guaranty of 90% on the
total loan amount. The maximum loan is $5 million in total financing.
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Online Training
Entrepreneurial Training
Like all successful missions, small business ownership starts with training. That’s why SBA empowers service members, veterans, National Guard and Reserve members, and military spouses with entrepreneurial trainings and resources right in their local community.
Through a network of partners and grantees, SBA offers specialized training programs for women veterans, service-disabled veterans, and veterans interested in federal procurement. Entrepreneurs across the nation can access these programs in-person or virtually
at every stage of small business ownership.
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Women own or co-own 45% of all businesses in the United States. These businesses represent all types of industries and are owned by all types of women. The majority are small, with great potential for growth in both revenues and job creation. That’s why we
created Ascent and packed it with in-depth information to help you grow your business. Click to edit this placeholder text.
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Small Business Assistance – SBA Partners
Central California Small Business Development Centers
The SBDC Network serves 14
counties in Central California with six dedicated SBDC Centers.
Our expert Business
Advisors will work with you and your company across multiple disciplines, whether it’s preparing a strategic plan, developing digital marketing strategies, streamlining operations, accessing capital, or launching an innovative technology start-up.
Contact your local SBDC Service Center to arrange a no-obligation meeting to learn more about how we can be of assistance. For more information on the Center nearest you, visit our Locations page.
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Womens Business Centers
Mission Community Services Corporation (MCSC) formed in 1998 and is a 501(c)3 that has been host to the Small Business Administration Women’s Business Center (WBC) since October 2006.
MCSC’s Women’s Business Center is full-service, technical assistance and training resource for entrepreneurs of all stages. Special focus is directed to underserved low-to-moderate income minority women. Although we operate as the Women’s Business Center we
inclusively serve all small businesses. Our service territory covers San Luis Obispo, Kern, and Monterey counties.
MCSC is in its 15th continuous year and was recognized as the 2020 Women’s Business Center of the Year for the San Joaquin Valley and Central Coast Region.
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Veteran Business Outreach Centers
The Center provides small business services to Veterans, DVBE, Reservist and Guard Members in their initiatives to start, cultivate or expand a business initiative.
The Center offers small business training services in areas of business development, marketing, sources of capital, government contracting, financial management, operational infrastructure design and implementation, acquisitions and mergers, employee relations,
business planning and much more.
Educational workshops are offered in areas of Business Basics, Marketing, Franchising, Business Plan Development, Financing and Government Contracting.
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SCORE
We believe that anyone can start a small business with the right support. We also know that the road is harder for some than for others. SCORE for All is the bridge that makes the journey to success more direct and sure-footed for entrepreneurs who need more
support.
Diverse backgrounds, different voices and unique needs may call for specialized resources or a personalized approaches in mentoring. SCORE is listening, recognizes and fulfills these diverse needs in a wholly inclusive platform called SCORE for All.
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WE VALUE YOUR FEEDBACK!
If you are a current or prospective small business owner, who has interacted with the SBA Fresno District Office, take our customer service experience feedback survey to help us better determine how we can improve our services.
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