Wisconsin SBA lending, from federal loan records
SBA Lenders Actively Funding Businesses in Wisconsin
Since FY2020, 299 lenders have funded 7,824 SBA loans worth $4.7B for businesses in Wisconsin. Borrowers reported 85,058 jobs supported by those loans. Below is who actually writes them, how big they run, and which Wisconsin businesses get funded.
Most active SBA lenders in Wisconsin
Ranked by loans funded for Wisconsin projects since FY2020, not by advertising budget. A lender headquartered elsewhere that funds heavily in Wisconsin beats a local name that rarely writes SBA loans.
| Lender | Program | WI loans since FY2020 | Since FY2025 | Median loan | Median rate |
|---|---|---|---|---|---|
| WBD, Inc. | 504 (CDC) | 1,294 | 277 | $595K | n/a |
| U.S. Bank, National Association | 7(a) | 520 | 160 | $40K | 8.74% |
| Nicolet National Bank | 7(a) | 328 | 48 | $266K | 5.47% |
| The Huntington National Bank | 7(a) | 307 | 103 | $133K | 10% |
| Bank First, N.A. | 7(a) | 286 | 55 | $281K | 5.75% |
| Summit CU | 7(a) | 228 | 45 | $123K | 6.62% |
| Hiawatha National Bank | 7(a) | 210 | 10 | $150K | 6.38% |
| Byline Bank | 7(a) | 194 | 45 | $816K | 7.5% |
| Old National Bank | 7(a) | 193 | 71 | $548K | 7.75% |
| CCFBank National Association | 7(a) | 185 | 40 | $350K | 7% |
| Wisconsin Women's Business Initiative Corporation | 7(a) | 172 | 46 | $150K | 9.25% |
| Waukesha State Bank | 7(a) | 160 | 29 | $425K | 6.25% |
| Associated Bank National Association | 7(a) | 159 | 38 | $225K | 8% |
| Community State Bank | 7(a) | 135 | 5 | $115K | 5.25% |
| Racine County Economic Development Corporation | 504 (CDC) | 134 | 41 | $562K | n/a |
| Bank Five Nine | 7(a) | 120 | 19 | $348K | 6.25% |
| Live Oak Banking Company | 7(a) | 107 | 29 | $725K | 7.25% |
| Lake Ridge Bank | 7(a) | 100 | 25 | $145K | 5.75% |
| Readycap Lending, LLC | 7(a) | 100 | 39 | $50K | 13.5% |
| Oostburg State Bank | 7(a) | 78 | 17 | $307K | 5.5% |
| BayFirst National Bank | 7(a) | 74 | 16 | $150K | 12.25% |
| American National Bank-Fox Cities | 7(a) | 72 | 15 | $166K | 7.5% |
| Wells Fargo Bank National Association | 7(a) | 71 | 10 | $15K | 8.75% |
| Security Financial Bank | 7(a) | 71 | 5 | $200K | 5.05% |
| Newtek Bank, National Association | 7(a) | 69 | 43 | $150K | 11.25% |
504 loans are written by Certified Development Companies alongside a bank first mortgage. The 504 file reports no interest rate, so CDC rows show none.
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Start your funding profile →How big Wisconsin SBA loans run
Share of Wisconsin 7(a) loans by approval size, next to the national split. If your ask sits in a common band, it is the kind of loan lenders here fund every week.
| 7(a) loan size | WI | US |
|---|---|---|
| Under $150K | 35.6% | 40.4% |
| $150K to $500K | 35.6% | 31.9% |
| $500K to $1M | 14.1% | 12.9% |
| $1M and up | 14.6% | 14.9% |
Who gets funded in Wisconsin
Business age on Wisconsin 7(a) loans. 18.5% funded a change of ownership, against 11.1% nationally. Buying a business? See the acquisition lender shortlist. Starting one? See startup-friendly lenders.
| Business stage | WI | US |
|---|---|---|
| Established, more than 2 years | 46% | 55.2% |
| New, 2 years or less | 17.6% | 16.9% |
| Startup, loan opens the business | 17.8% | 16.8% |
| Change of ownership (buying a business) | 18.5% | 11.1% |
Industries Wisconsin SBA lenders fund most
Share of all Wisconsin SBA loans by industry, and how that compares with the national mix.
| Industry | WI loans | Share | Compared with US |
|---|---|---|---|
| Restaurants and hotels | 1,137 | 14.5% | in line with national |
| Manufacturing | 983 | 12.6% | 1.9x the national share |
| Retail | 976 | 12.5% | in line with national |
| Construction | 862 | 11% | in line with national |
| Personal and repair services | 735 | 9.4% | in line with national |
| Healthcare | 684 | 8.7% | in line with national |
| Professional services | 483 | 6.2% | 0.7x the national share |
| Business support services | 389 | 5% | in line with national |
The most common specific business types funded in Wisconsin: full-service restaurants (387), limited-service restaurants (211), drinking places (alcoholic beverages) (166), hotels (except casino hotels) and motels (161), plumbing, heating, and air-conditioning contractors (153), landscaping services (149).
Where in Wisconsin the loans go
| County | SBA loans since FY2020 | Share of state |
|---|---|---|
| Milwaukee | 1,020 | 13% |
| Waukesha | 820 | 10% |
| Dane | 803 | 10% |
| Brown | 380 | 5% |
| Outagamie | 330 | 4% |
| Racine | 295 | 4% |
| Saint Croix | 265 | 3% |
| Sheboygan | 260 | 3% |
7(a) or 504 in Wisconsin
19% of Wisconsin SBA loans are 504 loans, against 12% nationally. A 504 loan funds owner-occupied real estate or major equipment, with a median of $598K here. A 7(a) loan covers almost anything else, including working capital and buying a business. The busiest 504 lenders in Wisconsin:
- WBD, Inc.: 1,294 504 loans, median $595K
- Racine County Economic Development Corporation: 134 504 loans, median $562K
- Twin Cities-Metro Certified Development Company: 17 504 loans, median $612K
- Midwest Business Finance Corporation: 16 504 loans, median $1.3M
Wisconsin SBA lending by year
| Fiscal year | 7(a) loans | 504 loans | Dollars |
|---|---|---|---|
| FY2020 | 846 | 236 | $594M |
| FY2021 | 1,188 | 289 | $959M |
| FY2022 | 873 | 301 | $711M |
| FY2023 | 889 | 164 | $607M |
| FY2024 | 1,011 | 167 | $678M |
| FY2025 | 956 | 195 | $702M |
| FY2026 (through June 30, 2026) | 567 | 142 | $485M |
The SBA fiscal year runs October through September.
Free SBA help in Wisconsin
Before you apply, these offices help with loan packaging and lender questions at no cost.
- SBA Wisconsin District Office. 310 W. Wisconsin Ave., Suite 580W, Milwaukee, WI 53203. Phone 414-297-3941. The SBA office for Wisconsin: lender lists, program questions and local events.
- Wisconsin Small Business Development Center. No-cost, confidential consulting at Universities of Wisconsin campuses, part of the Universities of Wisconsin Office of Business and Entrepreneurship. Useful for loan packaging, projections and cash-flow prep before you apply.
- SCORE Wisconsin. Free mentoring through four chapters, including SE Wisconsin, South Wisconsin and Northeast Wisconsin.
Contact details verified October 24, 2026.
Common questions
Who is the most active SBA lender in Wisconsin?
By funded loans since FY2020, WBD, Inc. leads Wisconsin with 1,294 loans through the 504 program. The most active 7(a) lender is U.S. Bank, National Association, with 520.
How big is a typical SBA loan in Wisconsin?
The median 7(a) loan in Wisconsin is $230K, and the middle half runs from $89K to $552K. The median 504 loan is $598K. Nationally the 7(a) median is $200K.
What interest rate do Wisconsin SBA borrowers get?
The median starting rate on Wisconsin 7(a) loans since FY2020 is 7.6%, against 9.25% nationally. 70% of those loans carry a variable rate, which moves with the prime rate.
Can a startup get an SBA loan in Wisconsin?
Yes. 35% of Wisconsin 7(a) loans with a reported business age went to startups or businesses two years old or younger, against 34% nationally. Lenders still expect a solid plan, owner equity and usually collateral.
Sources and limits. Derived from U.S. Small Business Administration 7(a) and 504 FOIA loan-level records, FY2020 through June 30, 2026, for projects located in Wisconsin. Cancelled approvals are excluded. Jobs supported are as reported by borrowers. Figures describe past lending activity only and are not offers, quotes, or qualification decisions. Big Brain Funding is not a lender and is not affiliated with any lender listed.