Lenders › Bank First, N.A.
7(a) lenderManitowoc, WisconsinFDIC-insured bank159th of 2,184 by approvals
Bank First, N.A.
SBA 7(a) loan approvals by fiscal year, where they went, how large they were, and how loans from earlier years turned out.
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.
Bank First, N.A. (Manitowoc, Wisconsin) is an FDIC-insured bank in the SBA 7(a) program, 159th of 2,184 by approvals in FY2021 to FY2025: 240 loans worth $120M.
In FY2025, the latest complete fiscal year, it had 35 approvals totalling $11.7M, about level with FY2024 (37). FY2026 to 30 Jun 2026 adds 22 more.
The median approval was $286K, against $190K for the 7(a) program as a whole; 27.9% of its approvals were for $150,000 or less (program: 47.8%).
Its loans went to businesses in 3 states and territories and 27 counties, led by Wisconsin (98.3%), Illinois (1.3%) and Minnesota (0.4%). The largest industry group was construction at 17.9% of approvals, and 10.4% of approvals were to franchise businesses.
Of 670 disbursed loans approved in FY2010 to FY2021, SBA records 13 as charged off (1.9%), 541 as paid in full and 116 still outstanding; the 7(a) program figure for the same approval years is 6.6%, so the rate here is below it.
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. Loans appear under the lender they are assigned to today, so a lender's figures include loans it took over. Data through 30 Jun 2026.
Approvals by fiscal year
| Fiscal year | Approvals | Dollars approved | Median approval | Average approval | Jobs supported, as reported |
|---|---|---|---|---|---|
| FY2026* | 22 | $12.0M | $258K | $547K | 260 |
| FY2025 | 35 | $11.7M | $200K | $335K | 320 |
| FY2024 | 37 | $11.3M | $250K | $306K | 403 |
| FY2023 | 40 | $16.7M | $238K | $417K | 580 |
| FY2022 | 34 | $22.5M | $350K | $660K | 609 |
| FY2021 | 94 | $57.9M | $311K | $616K | 1,494 |
| FY2020 | 50 | $30.4M | $202K | $608K | 675 |
| FY2019 | 16 | $4.2M | $91K | $263K | 211 |
| FY2018 | 52 | $26.8M | $268K | $516K | 431 |
| FY2017 | 43 | $16.1M | $210K | $373K | 501 |
| FY2016 | 44 | $17.1M | $150K | $388K | 555 |
Approvals are counted in the year SBA approved them and include approvals later cancelled. In the five fiscal years before the current window (FY2016–FY2020) the lender had 205 approvals. First approval on file: FY2010.
How earlier loans turned out
Only loans approved at least five fiscal years ago (FY2010–FY2021) are counted, because newer loans have had little time to be paid in full or charged off. "Charged off" is SBA's status for a loan on which it has written off the remaining balance.
| Loans approved FY2010–FY2021 | This lender | Wisconsin | 7(a) program |
|---|---|---|---|
| Approvals in these years | 722 | 16,853 | 639,905 |
| Cancelled or never disbursed | 52 | 1,983 | 79,313 |
| Disbursed loans | 670 | 14,870 | 560,592 |
| Paid in full | 541 | 12,167 | 435,813 |
| Charged off | 13 | 736 | 36,891 |
| Still outstanding (status exempt from disclosure) | 116 | 1,967 | 87,888 |
| Charged off, share of disbursed loans | 1.9% | 4.9% | 6.6% |
| Dollars charged off, share of disbursed dollars | 0.5% | 2.6% | 2.5% |
| Dollars charged off | $1.6M | $143M | $5.70bn |
By approval year
| Approved in | Disbursed | Paid in full | Charged off | Charged off, share | 7(a) program, same year |
|---|---|---|---|---|---|
| FY2021 | 89 | 36 | 0 | 0.0% | 2.8% |
| FY2020 | 44 | 31 | 0 | 0.0% | 4.0% |
| FY2019 | 15 | 10 | 0 | — | 6.7% |
| FY2018 | 50 | 35 | 2 | 4.0% | 7.9% |
| FY2017 | 38 | 30 | 0 | 0.0% | 7.7% |
| FY2016 | 40 | 36 | 2 | 5.0% | 7.2% |
| FY2015 | 40 | 35 | 0 | 0.0% | 6.9% |
| FY2014 | 49 | 44 | 1 | 2.0% | 6.4% |
| FY2013 | 85 | 75 | 1 | 1.2% | 6.0% |
| FY2012 | 69 | 63 | 4 | 5.8% | 6.3% |
| FY2011 | 85 | 82 | 1 | 1.2% | 6.9% |
| FY2010 | 66 | 64 | 2 | 3.0% | 9.2% |
A share is shown only where at least 30 loans from that year were disbursed.
Against the 7(a) program
| FY2021–FY2025 | This lender | 7(a) program |
|---|---|---|
| Median approval | $286K | $190K |
| Average approval | $501K | $518K |
| Approvals of $150,000 or less | 27.9% | 47.8% |
| Approvals to startups and businesses 2 years old or less | 35.8% | 34.3% |
| Approvals to franchise businesses | 10.4% | 11.5% |
| Jobs supported per approval, as reported | 14.2 | 10.5 |
| Charged off, loans approved FY2010–FY2021 | 1.9% | 6.6% |
States served
| # | State of the business (3 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Wisconsin | 236 | $113M | 98.3% | |
| 2 | Illinois | 3 | $6.8M | 1.3% | |
| 3 | Minnesota | 1 | — | 0.4% |
In Wisconsin the lender accounts for 4.3% of all 7(a) approvals in FY2021–FY2025.
Counties served
| # | County of the business (27 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Brown County, WI | 43 | $21.3M | 17.9% | |
| 2 | Sheboygan County, WI | 38 | $16.9M | 15.8% | |
| 3 | Fond du Lac County, WI | 27 | $15.8M | 11.3% | |
| 4 | Manitowoc County, WI | 25 | $6.8M | 10.4% | |
| 5 | Outagamie County, WI | 11 | $4.1M | 4.6% | |
| 6 | Columbia County, WI | 11 | $3.8M | 4.6% | |
| 7 | Monroe County, WI | 11 | $3.3M | 4.6% | |
| 8 | Dane County, WI | 10 | $9.1M | 4.2% | |
| 9 | Winnebago County, WI | 10 | $8.0M | 4.2% | |
| 10 | Kewaunee County, WI | 5 | $5.7M | 2.1% | |
| 11 | Milwaukee County, WI | 5 | $2.8M | 2.1% | |
| 12 | Washington County, WI | 5 | $2.2M | 2.1% |
Industry mix
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Construction | 43 | 17.9% | |
| 2 | Manufacturing | 39 | 16.3% | |
| 3 | Accommodation and Food Services | 30 | 12.5% | |
| 4 | Other Services (except Public Administration) | 29 | 12.1% | |
| 5 | Retail Trade | 26 | 10.8% | |
| 6 | Health Care and Social Assistance | 15 | 6.3% | |
| 7 | Transportation and Warehousing | 14 | 5.8% | |
| 8 | Professional, Scientific, and Technical Services | 12 | 5.0% |
| # | Industry group | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 23 | 9.6% | |
| 2 | Building Equipment ContractorsNAICS 2382 | 17 | 7.1% | |
| 3 | Automotive Repair and MaintenanceNAICS 8111 | 11 | 4.6% | |
| 4 | Offices of Other Health PractitionersNAICS 6213 | 9 | 3.8% | |
| 5 | Other Wood Product ManufacturingNAICS 3219 | 8 | 3.3% | |
| 6 | Residential Building ConstructionNAICS 2361 | 7 | 2.9% | |
| 7 | Nonresidential Building ConstructionNAICS 2362 | 6 | 2.5% | |
| 8 | Drycleaning and Laundry ServicesNAICS 8123 | 6 | 2.5% | |
| 9 | Specialized Freight TruckingNAICS 4842 | 6 | 2.5% | |
| 10 | General Freight TruckingNAICS 4841 | 6 | 2.5% |
Approval sizes
- $50,000 or less11.7%28
- $50,001 to $150,00016.3%39
- $150,001 to $350,00033.3%80
- $350,001 to $1 million26.3%63
- $1 million to $2 million8.8%21
- Over $2 million3.8%9
Loan terms
- 5 years or less4.6%11
- Over 5 to 10 years67.5%162
- Over 10 to 20 years15.8%38
- Over 20 years12.1%29
Age of the businesses
- Existing, more than 2 years old52.5%126
- New business, 2 years or less19.6%47
- Startup, loan funds will open the business16.3%39
- Change of ownership11.7%28
SBA processing method
| # | Method | Approvals | Share | |
|---|---|---|---|---|
| 1 | Preferred Lenders Program | 138 | 57.5% | |
| 2 | SBA Express Program | 88 | 36.7% | |
| 3 | 7a General | 9 | 3.8% | |
| 4 | Working Capital CAPLine | 5 | 2.1% |
Franchise share
25 of 240 approvals in FY2021–FY2025 (10.4%) carried an SBA franchise code; across the 7(a) program the share is 11.5%.
| # | Franchise brand | Approvals | Share | |
|---|---|---|---|---|
| 1 | Culver's ButterBurgers & Frozen Custard | 6 | 2.5% | |
| 2 | Window World | 4 | 1.7% | |
| 3 | Brain Balance | 3 | 1.3% | |
| 4 | Breadsmith | 2 | 0.8% | |
| 5 | Pirtek | 2 | 0.8% | |
| 6 | Piggly Wiggly | 1 | 0.4% | |
| 7 | Weichert Realtors | 1 | 0.4% | |
| 8 | Jersey Mike’s Subs | 1 | 0.4% |
Questions and answers
How many SBA loans does Bank First, N.A. make?
SBA approved 35 7(a) loans through Bank First, N.A. in FY2025, worth $11.7M, and 240 over FY2021 to FY2025. That ranks 159th of 2,184 active 7(a) lenders by number of approvals.
How large are Bank First, N.A.'s typical SBA loans?
The median 7(a) approval in FY2021 to FY2025 was $286K and the average $501K. The program-wide median was $190K.
What is Bank First, N.A.'s charge-off rate?
Of 670 disbursed loans approved in FY2010 to FY2021, SBA records 13 as charged off (1.9%), 541 as paid in full and 116 still outstanding; the 7(a) program figure for the same approval years is 6.6%, so the rate here is below it. Loans are listed under the lender that holds them today, so the figure includes loans taken over from other lenders. Status is as recorded by SBA on 30 Jun 2026.
Which industries does Bank First, N.A. lend to most?
By number of approvals in FY2021 to FY2025: restaurants and other eating places (23); building equipment contractors (17); automotive repair and maintenance (11); offices of other health practitioners (9).
Where does Bank First, N.A. make SBA loans?
In 3 states and territories. Wisconsin 236, Illinois 3, Minnesota 1. In Wisconsin it accounts for 4.3% of all 7(a) approvals.
Is Bank First, N.A.'s SBA lending rising?
Approvals in the three latest complete fiscal years total 112, against 178 in the three before: falling (-37%).
Where does this data come from?
From the Small Business Administration's 7(a) and 504 FOIA loan files, as of 30 Jun 2026. Borrower names and addresses in those files are discarded when the files are read and appear nowhere on this site.
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. Dollar figures behind fewer than three approvals are not shown, and no borrower is named anywhere on this site.Methodology · Report an error