SBA lending by state
SBA Lending in Wisconsin
In Wisconsin, SBA lenders funded 24,780 7(a) and 504 loans since FY2010, totaling $11.3B, an average of $458K per loan. The most active lender is WBD, Inc., and the most-funded industry is Manufacturing.
By Mario Bailey · Source: SBA FOIA data, FY2010–2026 (as of 2026-03-31)
Top SBA lenders in Wisconsin
Ranked by SBA loans funded in Wisconsin since FY2010. Each lender's figures, including its 7(a) charge-off rate, cover its Wisconsin loans only. Charge-off is reported on 7(a) loans, never on 504 loans, so a lender without a reliable 7(a) sample in Wisconsin shows “not reported,” never 0%.
See the full Wisconsin ranking : up to 25 lenders, with the 7(a) vs 504 leaders and industry context.
| # | 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% |
SBA 7(a) and 504 loans, FY2010–2026, as of 2026-03-31, from the SBA's public record.
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504 lenders (CDCs) in Wisconsin
An SBA 504 project in Wisconsin pairs two lenders: a bank or credit union funds roughly half the cost as a first mortgage, and a Certified Development Company (CDC) funds about 40% through an SBA-backed debenture, with the borrower putting down around 10%. Below are the CDCs most active on 504 loans in Wisconsin, ranked by 504 loans funded in the state since FY2010. Figures are 504-only; charge-off is reported on 7(a) loans only and does not apply to CDCs.
| CDC | 504 loans | 504 volume |
|---|---|---|
| WBD, Inc. | 2,979 | $2.4B |
| Racine County Economic Development Corporation | 248 | $197.1M |
| Twin Cities-Metro Certified Development Company | 46 | $37.9M |
| Amplio Economic Development Corporation | 33 | $24.9M |
| Midwest Business Finance Corporation | 27 | $30.8M |
| SomerCor 504, Inc. | 19 | $19.1M |
| Small Business Growth Corporation | 16 | $28.3M |
| Southeastern Minnesota 504 Development Corporation | 6 | $4.1M |
| Central Minnesota Development Company | 3 | $1.8M |
| South Dakota Development Corporation | 1 | $356K |
All Certified Development Companies · Current 504 loan rates · How 504 loans work
Top industries funded in Wisconsin
| Industry | Loans | Total volume |
|---|---|---|
| Manufacturing | 3,435 | $2.3B |
| Accommodation and Food Services | 3,435 | $1.8B |
| Retail Trade | 3,248 | $1.6B |
| Health Care and Social Assistance | 2,112 | $984.9M |
| Construction | 2,511 | $801.5M |
| Other Services | 2,172 | $700.9M |
| Professional and Technical Services | 1,831 | $570.2M |
| Wholesale Trade | 978 | $527.6M |
Top cities for SBA loans in Wisconsin
Where SBA 7(a) and 504 borrowers in Wisconsin are located, by funded volume.
| City | Loans | Total volume |
|---|---|---|
| Milwaukee | 2,133 | $932.4M |
| Madison | 1,277 | $446.8M |
| Green Bay | 773 | $359.8M |
| Appleton | 666 | $273.4M |
| Waukesha | 570 | $246.5M |
| Eau Claire | 410 | $215.0M |
| Brookfield | 387 | $181.1M |
| Sheboygan | 350 | $169.1M |
SBA lending by metro area in Wisconsin
Which lenders fund each Wisconsin market, with local loan sizes and industries.
- SBA lenders in Minneapolis, MN 20,809 loans
- SBA lenders in Milwaukee, WI 7,479 loans
- SBA lenders in Madison, WI 3,024 loans
- SBA lenders in Green Bay, WI 1,414 loans
- SBA lenders in Appleton, WI 1,178 loans
- SBA lenders in Duluth, MN 1,061 loans
- SBA lenders in Sheboygan, WI 752 loans
- SBA lenders in Eau Claire, WI 720 loans
- SBA lenders in La Crosse, WI 870 loans
- SBA lenders in Racine, WI 812 loans
- SBA lenders in Oshkosh, WI 765 loans
- SBA lenders in Kenosha, WI 542 loans
- SBA lenders in Wausau, WI 510 loans
- SBA lenders in Whitewater, WI 463 loans
- SBA lenders in Fond du Lac, WI 374 loans
- SBA lenders in Janesville, WI 331 loans
- SBA lenders in Manitowoc, WI 369 loans
- SBA lenders in Watertown, WI 376 loans
- SBA lenders in Marinette, WI 261 loans
- SBA lenders in Beaver Dam, WI 223 loans
- SBA lenders in Baraboo, WI 215 loans
- SBA lenders in Rice Lake, WI 147 loans
- SBA lenders in Stevens Point, WI 168 loans
- SBA lenders in Menomonie, WI 138 loans
- SBA lenders in Sparta, WI 222 loans
- SBA lenders in Wisconsin Rapids, WI 178 loans
- SBA lenders in Shawano, WI 105 loans
- SBA lenders in Iron Mountain, MI 97 loans
- SBA lenders in Platteville, WI 72 loans
SBA lending in Wisconsin by year
Funded SBA volume by approval fiscal year (FY2010–2026).
| Fiscal year | Loans | Total volume |
|---|---|---|
| 2010 | 1,751 | $539.2M |
| 2011 | 2,025 | $835.2M |
| 2012 | 1,739 | $717.8M |
| 2013 | 1,652 | $656.5M |
| 2014 | 1,671 | $538.9M |
| 2015 | 1,731 | $606.2M |
| 2016 | 1,621 | $656.0M |
| 2017 | 1,501 | $649.2M |
| 2018 | 1,428 | $627.8M |
| 2019 | 1,246 | $560.5M |
| 2020 | 1,224 | $664.9M |
| 2021 | 1,668 | $1.1B |
| 2022 | 1,294 | $789.5M |
| 2023 | 1,143 | $653.0M |
| 2024 | 1,272 | $712.9M |
| 2025 | 1,323 | $753.1M |
| 2026 | 491 | $315.4M |
SBA lending in Wisconsin: frequently asked questions
How much SBA lending is there in Wisconsin?
SBA lenders funded 24,780 7(a) and 504 loans totaling $11.3B in Wisconsin in the public SBA data (as of 2026-03-31), an average of $458K per loan.
Who is the most active SBA lender in Wisconsin?
WBD, Inc. is the most active SBA lender in Wisconsin in the public data, by loans funded.
What industries get the most SBA loans in Wisconsin?
The most-funded industry for SBA loans in Wisconsin is Manufacturing.
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