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County17th of 71 in Wisconsin by approvalsFIPS 55071
SBA loans in Manitowoc County, Wisconsin
7(a) and 504 approvals to businesses located in the county, set against the number of businesses there and against the state.
SBA approvals by fiscal year. The federal fiscal year runs 1 October to 30 September, so FY2025 is 1 October 2024 to 30 September 2025. *FY2026 is open: approvals to 30 Jun 2026 only.
SBA approved 123 loans to businesses in Manitowoc County, Wisconsin, in FY2021 to FY2025, worth $80.0M: 108 under 7(a) and 15 under 504.
That is 71.3 approvals per 1,000 business establishments (1,726 establishments in 2023), above the Wisconsin figure of 46.3 and above the national 41.0.
It ranks 17th of 71 Wisconsin counties with approvals. In FY2025 there were 30, up 15% on FY2024.
22 lenders had approvals here; the most active were Nicolet National Bank (31), Bank First, N.A. (25) and WBD, Inc. (15). The most common industry was restaurants and other eating places.
Loan status is as recorded by SBA at the data date; charge-off rates are computed on loans approved at least five fiscal years ago. Jobs supported are self-reported estimates from the SBA loan application, which SBA does not review, audit or validate. Data through 30 Jun 2026.
Lenders most active in Manitowoc County
By number of approvals to businesses in the county, FY2021–FY2025; 22 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Nicolet National BankGreen Bay, WI | 31 | $17.9M | 25.2% | |
| 2 | Bank First, N.A.Manitowoc, WI | 25 | $6.8M | 20.3% | |
| 3 | WBD, Inc.Madison, WI · CDC | 15 | $20.5M | 12.2% | |
| 4 | UnitedOne Credit UnionManitowoc, WI | 10 | $1.4M | 8.1% | |
| 5 | Cleveland State BankCleveland, WI | 7 | $7.0M | 5.7% | |
| 6 | Associated Bank National AssociationGreen Bay, WI | 6 | $6.0M | 4.9% | |
| 7 | BMO Bank National AssociationChicago, IL | 6 | $1.3M | 4.9% | |
| 8 | Oostburg State BankOostburg, WI | 3 | $1.1M | 2.4% | |
| 9 | Byline BankChicago, IL | 2 | — | 1.6% | |
| 10 | Old National BankEvansville, IN | 2 | — | 1.6% | |
| 11 | The Huntington National BankColumbus, OH | 2 | — | 1.6% | |
| 12 | Celtic Bank CorporationSalt Lake City, UT | 2 | — | 1.6% | |
| 13 | BayFirst National BankSaint Petersburg, FL | 2 | — | 1.6% | |
| 14 | Hiawatha National BankHager City, WI | 2 | — | 1.6% | |
| 15 | UMB Bank, National AssociationKansas City, MO | 1 | — | 0.8% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 8 | 6.5% | |
| 2 | Other Amusement and Recreation IndustriesNAICS 7139 | 7 | 5.7% | |
| 3 | Machine Shops; Turned Product; and Screw, Nut, and Bolt ManufacturingNAICS 3327 | 6 | 4.9% | |
| 4 | Services to Buildings and DwellingsNAICS 5617 | 6 | 4.9% | |
| 5 | General Freight TruckingNAICS 4841 | 5 | 4.1% | |
| 6 | Traveler AccommodationNAICS 7211 | 4 | 3.3% | |
| 7 | Other Specialty Trade ContractorsNAICS 2389 | 4 | 3.3% | |
| 8 | Other Fabricated Metal Product ManufacturingNAICS 3329 | 4 | 3.3% | |
| 9 | Automotive Repair and MaintenanceNAICS 8111 | 4 | 3.3% | |
| 10 | Miscellaneous Durable Goods Merchant WholesalersNAICS 4239 | 4 | 3.3% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Manufacturing | 24 | 19.5% | |
| 2 | Accommodation and Food Services | 14 | 11.4% | |
| 3 | Retail Trade | 14 | 11.4% | |
| 4 | Construction | 14 | 11.4% | |
| 5 | Transportation and Warehousing | 12 | 9.8% | |
| 6 | Wholesale Trade | 8 | 6.5% | |
| 7 | Arts, Entertainment, and Recreation | 7 | 5.7% | |
| 8 | Other Services (except Public Administration) | 7 | 5.7% |
Approvals by fiscal year
| Fiscal year | 7(a) approvals | 7(a) dollars | Median 7(a) | 504 approvals | 504 dollars | All approvals | Jobs supported, as reported |
|---|---|---|---|---|---|---|---|
| FY2026* | 8 | $2.4M | $215K | 2 | — | 10 | 77 |
| FY2025 | 24 | $12.2M | $338K | 6 | $8.1M | 30 | 465 |
| FY2024 | 23 | $12.3M | $200K | 3 | $4.4M | 26 | 173 |
| FY2023 | 15 | $8.2M | $225K | 2 | — | 17 | 64 |
| FY2022 | 13 | $6.9M | $179K | 1 | — | 14 | 396 |
| FY2021 | 33 | $20.1M | $340K | 3 | $5.4M | 36 | 313 |
| FY2020 | 23 | $9.4M | $170K | 1 | — | 24 | 190 |
| FY2019 | 17 | $7.5M | $198K | 0 | — | 17 | 221 |
| FY2018 | 20 | $8.0M | $161K | 1 | — | 21 | 161 |
| FY2017 | 15 | $4.3M | $169K | 2 | — | 17 | 112 |
| FY2016 | 17 | $7.2M | $150K | 1 | — | 18 | 310 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 97 approvals.
Against Wisconsin and the country
| FY2021–FY2025 | Manitowoc County | Wisconsin | United States |
|---|---|---|---|
| Approvals | 123 | 6,706 | 342,825 |
| Approvals per 1,000 establishments | 71.3 | 46.3 | 41.0 |
| Median 7(a) approval | $241K | $225K | $190K |
| Median 504 approval | $861K | $616K | $657K |
| Average approval | $651K | $594K | $573K |
| 504 share of approvals | 12.2% | 18.4% | 11.0% |
| Jobs supported per approval, as reported | 11.5 | 11.0 | 10.5 |
| Share of state approvals | 1.8% | 100.0% | — |
Approval sizes
- $50,000 or less16.3%20
- $50,001 to $150,00013.0%16
- $150,001 to $350,00024.4%30
- $350,001 to $1 million28.5%35
- $1 million to $2 million10.6%13
- Over $2 million7.3%9
Age of the businesses
- Existing, more than 2 years old52.8%65
- New business, 2 years or less19.5%24
- Startup, loan funds will open the business16.3%20
- Change of ownership11.4%14
Questions and answers
Which lenders make the most SBA loans in Manitowoc County?
By approvals in FY2021 to FY2025: Nicolet National Bank (31), Bank First, N.A. (25), WBD, Inc. (15), UnitedOne Credit Union (10), Cleveland State Bank (7). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Manitowoc County?
The median 7(a) approval was $241K and the median 504 approval $861K; the Wisconsin 7(a) median was $225K.
Which industries get the most SBA loans in Manitowoc County?
Restaurants and Other Eating Places (8); Other Amusement and Recreation Industries (7); Machine Shops; Turned Product; and Screw, Nut, and Bolt Manufacturing (6); Services to Buildings and Dwellings (6); General Freight Trucking (5).
Is SBA lending in Manitowoc County rising?
Approvals in the three latest complete fiscal years total 73, against 74 in the three before: broadly level (-1%).
How does Manitowoc County compare with the rest of Wisconsin?
71.3 approvals per 1,000 establishments against 46.3 statewide, and 123 of the state's 6,706 approvals.
About these figures
Figures are totals of the Small Business Administration's 7(a) and 504 FOIA loan files, data through 30 Jun 2026. SBA updates the files quarterly. Counts are loan approvals, including approvals later cancelled; the five-year window is FY2021–FY2025, the five latest complete fiscal years. Charge-off rates use only loans approved in FY2010–FY2021, at least five fiscal years ago, and count disbursed loans SBA records as charged off. Loans are listed under the lender they are assigned to today. Establishment counts are from the Census Bureau's County Business Patterns 2023, which leaves out most farms, government and businesses without employees. Dollar figures behind fewer than three approvals are not shown, and no borrower is named anywhere on this site.Methodology · Report an error