NAICS 541120 Quarterly Industry Report
Offices of Notaries
Comprehensive industry research for valuation professionals, business owners, buyers, and lenders
NAICS Code: 541120Sector: Professional, Scientific, and Technical Services (54)Updated: Q1 2026
About This Report
This industry profile for Offices of Notaries (NAICS 541120) draws on data from the U.S. Census Bureau[2] NAICS classification, the National Notary Association[4] census and industry surveys, and state regulatory data on remote online notarization adoption. Published by Fair Market Value and updated quarterly, it provides valuation professionals and lenders with classification context and market intelligence for assessing notary businesses. Additional data is drawn from Bureau of Labor Statistics[5], SBA[6].. The editorial analysis reflects the independent assessment of FairMarketValue.com's research team.
Industry Definition & Overview
Offices of Notaries (NAICS 541120) encompasses establishments primarily engaged in providing notarization and certification services Census Bureau NAICS 541120[2]. These businesses authenticate and witness the signing of documents, verify the identity of individuals, and certify that copies are true and correct. Notaries operate in roughly 2,896 locations across the United States, with growth driven by over 1.25 billion documents notarized annually. The industry spans both traditional office-based notaries and mobile notary services. Revenue varies widely.
The National Notary Association reports about 4.4 million commissioned notaries in the United States National Notary Association[3]. Market segmentation includes loan signing agents earning $75-$200 per appointment and specialized real estate notarization services. State regulations shape service delivery and geographic availability, with 45 states and Washington DC now permitting remote online notarization as of 2025. Digital transformation is accelerating demand.
The mobile notary public market is projected to reach $2.6 billion by 2035, reflecting broader industry expansion and modernization through technology adoption. Growth stems from increasing demand for digital document authentication and legal compliance services across real estate, financial services, and legal document processing. Regulatory requirements vary significantly by state, with some mandating specific bonding levels and continuing education for notary commissions. Solo operators and small firms dominate the market, though larger mobile notary networks are emerging to serve national lenders and title companies.
What's Included in This Industry
- Standalone notary offices engaged primarily in notarization services
- Mobile notary services providing on-site document authentication
- Document certification and legal acknowledgment services
- Real estate closing and settlement notarization services
- Loan document signing services provided by notary signing agents
- Online and remote notarization service providers
- Notary public offices not affiliated with law firms or accounting practices
- Regional practice benchmarks and office staffing ratios
NAICS Classification Hierarchy
| Level | Description | Code |
|---|---|---|
| Sector | Professional, Scientific, and Technical Services | 54 |
| Subsector | Professional, Scientific, and Technical Services | 541 |
| Industry Group | Legal Services | 5411 |
Related NAICS Codes
| Code | Description | Relationship |
|---|---|---|
| 541110 | Offices of Lawyers | Offices of Lawyers provide legal services and often employ in-house notaries or refer clients to standalone notary establishments for specialized document authentication beyond their core practice areas. |
| 541199 | All Other Legal Services | All Other Legal Services includes document preparation, recording, and settlement services that frequently integrate notarization functions, creating operational overlap with standalone notary offices. |
| 522110 | Commercial Banking | Commercial Banking operates with notary services embedded within branch operations for mortgage originations and account transactions, generating demand for mobile and specialty notary providers. |
| 541213 | Tax Preparation Services | Tax Preparation Services often require notarized documents for estate planning, power of attorney, and financial certifications, creating referral relationships with notary office providers. |
| 541191 | Title Abstract and Settlement Offices | Title Abstract and Settlement Offices coordinate real estate closings that require notarization of deeds, mortgage documents, and transfer instruments, creating direct service partnerships with notary establishments. |
| 561410 | Document Preparation Services | Document Preparation Services and notary offices frequently operate in partnership, combining document drafting with authentication services to provide complete legal document solutions. |
SBA Lending Summary
32
Total SBA Loans
$5.7M
Total Loan Volume
$179K
Average Loan Size
10 yrs
Average Loan Term
11.95%
Average Interest Rate
72
Jobs Supported
Source: SBA 7(a) Program Data, U.S. Small Business Administration — FY 2025[1]
Key Insight: The SBA classifies notary public services under NAICS 541120 as part of the broader legal services sector SBA Size Standards[7]. Most notary establishments operate as sole proprietorships or small partnerships, with the majority qualifying as small businesses under SBA definitions. SBA 7(a) loans and microloans can help fund startup costs, bonding requirements, and technology investments for remote online notarization capabilities. Additionally, 504/CDC loans[8] provide long-term, fixed-rate financing for major fixed assets such as real estate and equipment.
Top SBA Lenders
| # | Lender | Loans | Volume | Avg Loan |
|---|---|---|---|---|
| 1 | Heritage Bank Inc | 8 | $3.9M | $486K |
| 2 | Northeast Bank | 8 | $1.2M | $150K |
| 3 | Newtek Bank, National Association | 8 | $400K | $50K |
| 4 | TD Bank, National Association | 8 | $240K | $30K |
Frequently Asked Questions
Common questions about this industry.
What types of businesses are classified under NAICS 541120?
NAICS 541120 covers establishments primarily engaged in providing notarization and certification services. This includes standalone notary offices, mobile notary services, loan signing agents, remote online notarization providers, and document certification businesses. Law offices (541110) and title companies (541191) that provide notarization as part of broader services are classified separately. Census Bureau NAICS 541120[2]
How is the notary industry structured?
About 4.4 million notaries are commissioned across the United States, though most serve as notaries in addition to other primary occupations National Notary Association[4]. Standalone notary businesses operate as solo proprietorships, mobile notary services, and specialized signing agent firms. Revenue ranges from $50,000 to over $200,000 annually depending on specialization and geographic market.
What is the SBA size standard for notary offices?
Notary offices fall under NAICS 541120 within the broader legal services sector. Most notary businesses qualify as small businesses under SBA definitions, eligible for 7(a) loans, microloans, and federal contracting set-asides SBA Size Standards[7].
What NAICS codes are related to offices of notaries?
Related codes include 541110 (Offices of Lawyers), 541199 (All Other Legal Services), 522110 (Commercial Banking), 541213 (Tax Preparation Services), 541191 (Title Abstract and Settlement Offices), and 561410 (Document Preparation Services). Each represents a segment that either uses notary services or provides complementary professional services.
Which industries work most closely with notary offices?
Title and settlement offices (541191) use notaries for real estate closings. Banks (522110) require notarization for loan documents. Law offices (541110) refer clients for document authentication. Mortgage brokers (522310) engage signing agents for closings. Title insurance carriers (524127) integrate notary services into settlement workflows.
What activities are included in NAICS 541120?
Activities include document notarization, identity verification, witnessing signatures, administering oaths, certifying copies, mobile notary services, loan signing agent services, and remote online notarization. Real estate settlement services and legal document preparation are classified under separate NAICS codes. Census Bureau NAICS 541120[2]
Can you get an SBA loan for a notary business?
Yes. Notary businesses that meet SBA small business definitions can access 7(a) loans for general business purposes, microloans for startup costs (up to $50,000), and other SBA programs. Loan funds can cover technology investments for remote online notarization platforms, bonding and insurance requirements, marketing, and equipment. SBA Loan Programs[9]
Which states have the highest concentration of notary services?
Demand for notary services correlates with real estate activity, population density, and financial services concentration. States with high real estate transaction volumes, including California, Texas, Florida, and New York, generate the strongest demand. As of 2025, 45 states and Washington DC permit remote online notarization, expanding service availability across state lines.
Sources & References
Government datasets and editorial sources used in this report.
- [1]U.S. Small Business Administration, SBA 7(a) Loan Program Data data.sba.gov
- [2]Census Bureau NAICS 541120 census.gov
- [3]National Notary Association nationalnotary.org
- [4]National Notary Association nationalnotary.org
- [5]Bureau of Labor Statistics bls.gov
- [6]SBA sba.gov
- [7]SBA Size Standards sba.gov
- [8]504/CDC loans sba.gov
- [9]SBA Loan Programs sba.gov
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