Best SBA lenders
Best SBA lenders in Wisconsin
The most active SBA lenders in Wisconsin, ranked from every 7(a) and 504 loan in the SBA's public record, FY2010-2026. WBD, Inc. leads with 2,979 loans funded.
By Mario Bailey · Source: SBA FOIA 7(a) and 504 data, FY2010–2026, as of 2026-03-31
Top SBA lenders in Wisconsin
The full Wisconsin ranking, by SBA loans funded since FY2010. Every figure is in-state: each lender's loans, dollars, average loan size, and 7(a) charge-off rate cover its Wisconsin lending only, not its national book. A charge-off rate appears only when a lender has at least 20 funded 7(a) loans in Wisconsin; below that line, and on 504-only lending, it reads “not reported,” never 0%.
| # | Lender | Loans | Total funded | Average loan | 7(a) charge-off |
|---|---|---|---|---|---|
| 1 | WBD, Inc. | 2,979 | $2.4B | $812K | not reported |
| 2 | Bank Five Nine | 1,683 | $703.1M | $418K | 2.67% |
| 3 | U.S. Bank, National Association | 1,497 | $283.4M | $189K | 2.67% |
| 4 | Associated Bank, National Association | 1,355 | $208.7M | $154K | 1.70% |
| 5 | Summit CU | 987 | $234.3M | $237K | 2.43% |
| 6 | Bank First, N.A. | 865 | $406.4M | $470K | 1.16% |
| 7 | Byline Bank | 799 | $818.9M | $1.0M | 6.13% |
| 8 | Nicolet National Bank | 701 | $289.7M | $413K | 2.00% |
| 9 | The Huntington National Bank | 699 | $217.2M | $311K | 2.43% |
| 10 | JPMorgan Chase Bank, National Association | 517 | $91.5M | $177K | 5.03% |
| 11 | UMB Bank, National Association | 511 | $305.6M | $598K | 3.72% |
| 12 | Wells Fargo Bank National Association | 490 | $161.6M | $330K | 5.31% |
| 13 | Waukesha State Bank | 476 | $217.0M | $456K | 3.99% |
| 14 | Bank of Ann Arbor | 448 | $143.0M | $319K | 2.90% |
| 15 | Wisconsin Women's Business Initiative Corporation | 389 | $50.2M | $129K | 3.34% |
| 16 | Hiawatha National Bank | 361 | $136.0M | $377K | 1.39% |
| 17 | Old National Bank | 353 | $267.4M | $758K | 0.85% |
| 18 | BMO Bank National Association | 341 | $142.2M | $417K | 3.23% |
| 19 | Lake Ridge Bank | 332 | $78.5M | $237K | 0.90% |
| 20 | Citizens Community Federal National Association | 309 | $173.5M | $562K | 2.91% |
| 21 | Community State Bank | 287 | $61.5M | $214K | 2.79% |
| 22 | Racine County Economic Development Corporation | 248 | $197.1M | $795K | not reported |
| 23 | IncredibleBank | 241 | $153.0M | $635K | 3.73% |
| 24 | American National Bank-Fox Cities | 214 | $53.7M | $251K | 0.93% |
| 25 | Forward Bank | 206 | $44.0M | $214K | 1.46% |
SBA 7(a) and 504 loans, FY2010–2026, as of 2026-03-31, from the SBA's public record.
7(a) banks vs 504 lenders (CDCs) in Wisconsin
The two SBA programs have different lenders. A 7(a) loan comes from one bank or credit union; a 504 project pairs a bank with a Certified Development Company (CDC), the nonprofit that funds the SBA-backed portion. The leaders in Wisconsin by each program's loans funded since FY2010:
- 1. Bank Five Nine 1,683 loans
- 2. U.S. Bank, National Association 1,497 loans
- 3. Associated Bank, National Association 1,355 loans
- 4. Summit CU 987 loans
- 5. Bank First, N.A. 865 loans
- 1. WBD, Inc. 2,979 loans
- 2. Racine County Economic Development Corporation 248 loans
- 3. Twin Cities-Metro Certified Development Company 46 loans
- 4. Amplio Economic Development Corporation 33 loans
- 5. Midwest Business Finance Corporation 27 loans
Counts are each program's funded loans in Wisconsin. How the two programs differ: 504 vs 7(a), by the data.
Where SBA lending concentrates in Wisconsin
The 3 industries with the most SBA loans in Wisconsin since FY2010, and the most active lender in each. A lender that leads your industry locally can matter more than the overall #1.
| Industry | Loans | Total funded | Most active lender |
|---|---|---|---|
| Manufacturing | 3,435 | $2.3B | WBD, Inc. (607 loans) |
| Accommodation and Food Services | 3,435 | $1.8B | WBD, Inc. (506 loans) |
| Retail Trade | 3,248 | $1.6B | WBD, Inc. (412 loans) |
Full industry, city, and yearly breakdowns: SBA lending in Wisconsin.
How this ranking works
- “Most active” means loans funded. The ranking counts every SBA 7(a) and 504 loan funded to Wisconsin businesses in the SBA's public FOIA record, FY2010–2026, as of 2026-03-31. No lender pays to appear or to rank, and activity is not a fit score: the right lender for you depends on your industry, loan size, and timeline.
- The 10-loan line. A lender enters the Wisconsin table only with at least 10 loans funded in-state, so one-off activity never reads as a track record. Industry cells above are held to at least 30 loans.
- Charge-off is 7(a)-only and needs 20+ loans. The SBA reports charge-offs on 7(a) loans, never on 504 loans. We show an in-state rate only when a lender has at least 20 funded 7(a) loans in Wisconsin; anything thinner reads “not reported,” never 0%. It is a charge-off share of funded loans to date, not a lifetime default rate.
- Name collisions are excluded, and counted. The SBA does not normalize lender names across mergers and rebrands, so one name can blend several unrelated institutions. Flagged names are never ranked on this page; each exclusion is disclosed under the table.
The exact calculations and limits: methodology.
Best SBA lenders in Wisconsin: frequently asked questions
Who is the most active SBA lender in Wisconsin?
WBD, Inc. is the most active SBA lender in Wisconsin in the public record, with 2,979 7(a) and 504 loans funded since FY2010 ($2.4B in Wisconsin). The ranking counts loans funded, never who pays us.
Do these lenders only serve Wisconsin?
No. The ranking measures activity in Wisconsin: loans funded to Wisconsin businesses in the SBA's record. Many of these lenders are national or multi-state institutions; the loans, dollars, and charge-off figures shown are their Wisconsin lending only.
What's the difference between a 7(a) lender and a CDC?
A 7(a) lender is a bank or credit union that funds an SBA-guaranteed loan directly. A Certified Development Company (CDC) is a nonprofit that funds the SBA-backed portion of a 504 project alongside a bank. Charge-off is reported only on 7(a) loans, so a 504-only CDC shows "not reported," never 0%.
How many SBA lenders are active in Wisconsin?
165 lenders have funded at least 10 SBA loans in Wisconsin since FY2010 in the public record (as of 2026-03-31). The table above names the 25 most active of them; names that blend several same-named institutions are excluded from rankings.
Mario Bailey. (2026). Best SBA lenders in Wisconsin. SBA Loan Index. https://sbaloanindex.com/best-sba-lenders/in/wi/
Free to cite and quote with attribution and a link. Members of the press can reach us via our press page.
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