Tools commonly used in the Financing-Business industry for day-to-day tasks and operations.

• Asset-based lending
• Invoice factoring
• Equipment financing
• Business lines of credit
• Merchant cash advances
• Term loans
• SBA loans
• Commercial real estate loans
• Trade finance
• Mezzanine financing

Common products and services typical of NAICS Code 522220-01, illustrating the main business activities and contributions to the market.

• Working capital loans
• Inventory financing
• Purchase order financing
• Accounts receivable financing
• Equipment leasing
• Franchise financing
• Healthcare financing
• Construction financing
• Agriculture financing
• Energy financing

The specific certifications, permits, licenses, and regulatory compliance requirements within the United States for this industry.

• Business Loan Broker License: A license required by the state of California for individuals who negotiate loans on behalf of a borrower. The license is issued by the California Department of Financial Protection and Innovation.
• Consumer Financial Protection Bureau (CFPB) Regulations: Regulations that govern the activities of consumer financial services providers, including those in the business financing industry. The CFPB is a US government agency responsible for consumer protection in the financial sector.
• National Association Of Commercial Finance Brokers (NACFB) Membership: Membership in the NACFB is a certification of professionalism and ethical conduct in the commercial finance industry. The NACFB is a UK-based trade association for commercial finance brokers.
• Small Business Administration (SBA) Loan Programs: The SBA offers loan programs to small businesses that are unable to obtain financing on reasonable terms through normal lending channels. The programs are designed to encourage lenders to make loans to small businesses.
• Uniform Commercial Code (UCC) Filings: UCC filings are a way for lenders to secure their interest in collateral pledged by a borrower. The UCC is a set of laws governing commercial transactions in the US.

A concise historical narrative of NAICS Code 522220-01 covering global milestones and recent developments within the United States.

• The Financing-Business industry has a long history dating back to the early 1900s when the first finance companies were established in the United States. These companies provided loans to consumers and small businesses, which were not being served by traditional banks. In the 1920s, the industry experienced significant growth due to the increased demand for consumer credit. During the Great Depression, the industry suffered a setback, but it recovered in the post-World War II era. In the 1960s, the industry saw the emergence of credit cards, which revolutionized the way consumers borrowed money. In recent years, the industry has been impacted by the rise of fintech companies, which are using technology to disrupt traditional lending models. In the United States, the Financing-Business industry has seen significant growth in recent years. According to the Federal Reserve, outstanding consumer debt reached a record high of $4.2 trillion in 2019, with auto loans and credit card debt being the largest categories. The industry has also been impacted by the COVID-19 pandemic, which has led to increased demand for loans from small businesses and individuals. The industry has responded by offering new products and services, such as online lending platforms and payment deferral programs. Overall, the Financing-Business industry has a rich history and continues to evolve to meet the changing needs of consumers and businesses.

The anticipated future trajectory of the NAICS 522220-01 industry in the USA, offering insights into potential trends, innovations, and challenges expected to shape its landscape.

• Growth Prediction: Stable

  The Financing-Business industry in the USA is expected to grow in the coming years due to the increasing demand for financing services from small and medium-sized businesses. The industry is also expected to benefit from the growing trend of online lending platforms, which offer faster and more convenient access to financing. However, the industry may face challenges due to the increasing competition from traditional banks and other financial institutions. Additionally, the industry may be impacted by changes in government regulations and economic conditions. Overall, the Financing-Business industry is expected to continue to grow in the USA, but companies in the industry will need to adapt to changing market conditions to remain competitive.

Recent groundbreaking advancements and milestones in the Financing-Business industry, reflecting notable innovations that have reshaped its landscape.

• Lendio: This online lending platform connects small business owners with lenders and has helped to streamline the lending process.
• Bluevine: This fintech company offers invoice factoring and lines of credit to small businesses and has been recognized for its innovative approach to financing.
• Fundbox: This online lender uses artificial intelligence to analyze small business data and provide fast access to financing.
• Kabbage: This online lender offers lines of credit to small businesses and has been recognized for its use of technology to simplify the lending process.
• Ondeck: This online lender offers term loans and lines of credit to small businesses and has been recognized for its innovative approach to underwriting.