Analysis
NAICS 522291 is the 2022 national industry for consumer lending, part of 52229 (Other Nondepository Credit Intermediation). Census lists 8 example activities under it in the official index.
County Business Patterns counts 12,106 US establishments in this code in 2023, employing 84,206 people at an average annual payroll of $96,723 per employee (82nd percentile of national industries). 81% of the establishments have fewer than five employees, which marks it as a small-business industry.
Between 2018 and 2023 the number of establishments fell 18% and employment fell 11%. The 2018 count used NAICS 2017, so part of a large move can come from codes being redefined rather than from businesses opening or closing.
By establishments it ranks 2nd of the 2 codes at this level within Other Nondepository Credit Intermediation, with 31.5% of them.
Census lists 5 related activities that belong elsewhere, most often in 5221, 522310, 522390 and 522210. Businesses that do several things are classified by their primary activity, the one that generates the most value, so check those boundaries before settling on this code.
Its index entries, the activities Census uses to assign businesses to this code, include consumer finance companies (i.e., unsecured cash loans), consumer lending, finance companies (i.e., unsecured cash loans) and loan companies (i.e., consumer, personal, small, student), among 8 in all.
Official definition
This U.S. industry comprises establishments primarily engaged in making unsecured cash loans to consumers.
Illustrative Examples:
Finance companies (i.e., unsecured cash loans) Personal credit institutions (i.e., unsecured cash loans) Loan companies (i.e., consumer, personal, student, small) Student loan companies
Source: US Census Bureau, NAICS 2022 Manual.
Not this code if…
| The business mainly does | Use instead |
|---|---|
| Accepting deposits and lending funds from these deposits | 5221 Depository Credit Intermediation |
| Arranging loans for others on a commission or fee basis | 522310 Mortgage and Nonmortgage Loan Brokers |
| Servicing loans or providing check cashing services | 522390 Other Activities Related to Credit Intermediation |
| Providing credit sales by issuing credit cards | 522210 Credit Card Issuing |
| Factoring accounts receivables | 522299 International, Secondary Market, and All Other Depository Credit Intermediation |
Index entries (8)
- Consumer finance companies (i.e., unsecured cash loans)
- Consumer lending
- Finance companies (i.e., unsecured cash loans)
- Loan companies (i.e., consumer, personal, small, student)
- Personal credit institutions (i.e., unsecured cash loans)
- Personal finance companies (i.e., unsecured cash loans)
- Small loan companies (i.e., unsecured cash loans)
- Student loan companies