Lenders › Summit CU
7(a) lenderCottage Grove, Wisconsincredit union219th of 2,184 by approvals
Summit CU
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.
Summit CU (Cottage Grove, Wisconsin) is a credit union in the SBA 7(a) program, 219th of 2,184 by approvals in FY2021 to FY2025: 173 loans worth $41.1M.
In FY2025, the latest complete fiscal year, it had 13 approvals totalling $2.5M, down 32% on FY2024 (19). FY2026 to 30 Jun 2026 adds 33 more.
The median approval was $131K, against $190K for the 7(a) program as a whole; 57.2% of its approvals were for $150,000 or less (program: 47.8%).
Its loans went to businesses in 1 state or territory and 20 counties, led by Wisconsin (100.0%). The largest industry group was construction at 13.3% of approvals, and 5.8% of approvals were to franchise businesses.
Of 783 disbursed loans approved in FY2010 to FY2021, SBA records 34 as charged off (4.3%), 656 as paid in full and 93 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* | 33 | $10.1M | $150K | $305K | 254 |
| FY2025 | 13 | $2.5M | $135K | $193K | 111 |
| FY2024 | 19 | $3.0M | $136K | $159K | 131 |
| FY2023 | 34 | $7.4M | $100K | $218K | 315 |
| FY2022 | 40 | $10.3M | $98K | $258K | 405 |
| FY2021 | 67 | $17.8M | $150K | $266K | 387 |
| FY2020 | 44 | $13.7M | $98K | $312K | 494 |
| FY2019 | 86 | $18.3M | $55K | $213K | 800 |
| FY2018 | 88 | $24.4M | $69K | $277K | 924 |
| FY2017 | 102 | $31.3M | $88K | $306K | 630 |
| FY2016 | 135 | $50.6M | $79K | $375K | 1,653 |
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 455 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 | 870 | 16,853 | 639,905 |
| Cancelled or never disbursed | 87 | 1,983 | 79,313 |
| Disbursed loans | 783 | 14,870 | 560,592 |
| Paid in full | 656 | 12,167 | 435,813 |
| Charged off | 34 | 736 | 36,891 |
| Still outstanding (status exempt from disclosure) | 93 | 1,967 | 87,888 |
| Charged off, share of disbursed loans | 4.3% | 4.9% | 6.6% |
| Dollars charged off, share of disbursed dollars | 2.3% | 2.6% | 2.5% |
| Dollars charged off | $4.8M | $143M | $5.70bn |
By approval year
| Approved in | Disbursed | Paid in full | Charged off | Charged off, share | 7(a) program, same year |
|---|---|---|---|---|---|
| FY2021 | 61 | 30 | 0 | 0.0% | 2.8% |
| FY2020 | 39 | 24 | 0 | 0.0% | 4.0% |
| FY2019 | 71 | 58 | 2 | 2.8% | 6.7% |
| FY2018 | 84 | 75 | 0 | 0.0% | 7.9% |
| FY2017 | 94 | 84 | 3 | 3.2% | 7.7% |
| FY2016 | 121 | 106 | 6 | 5.0% | 7.2% |
| FY2015 | 92 | 79 | 5 | 5.4% | 6.9% |
| FY2014 | 75 | 72 | 2 | 2.7% | 6.4% |
| FY2013 | 45 | 39 | 5 | 11.1% | 6.0% |
| FY2012 | 52 | 44 | 8 | 15.4% | 6.3% |
| FY2011 | 31 | 27 | 3 | 9.7% | 6.9% |
| FY2010 | 18 | 18 | 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 | $131K | $190K |
| Average approval | $238K | $518K |
| Approvals of $150,000 or less | 57.2% | 47.8% |
| Approvals to startups and businesses 2 years old or less | 36.4% | 34.3% |
| Approvals to franchise businesses | 5.8% | 11.5% |
| Jobs supported per approval, as reported | 7.8 | 10.5 |
| Charged off, loans approved FY2010–FY2021 | 4.3% | 6.6% |
States served
| # | State of the business (1 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Wisconsin | 173 | $41.1M | 100.0% |
In Wisconsin the lender accounts for 3.2% of all 7(a) approvals in FY2021–FY2025.
Counties served
| # | County of the business (20 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Dane County, WI | 72 | $10.5M | 41.6% | |
| 2 | Waukesha County, WI | 22 | $7.3M | 12.7% | |
| 3 | Milwaukee County, WI | 22 | $4.9M | 12.7% | |
| 4 | Sheboygan County, WI | 18 | $10.0M | 10.4% | |
| 5 | Washington County, WI | 6 | $1.5M | 3.5% | |
| 6 | Marquette County, WI | 5 | $444K | 2.9% | |
| 7 | Jefferson County, WI | 4 | $1.2M | 2.3% | |
| 8 | Ozaukee County, WI | 4 | $900K | 2.3% | |
| 9 | Adams County, WI | 3 | $1.1M | 1.7% | |
| 10 | Kenosha County, WI | 3 | $320K | 1.7% | |
| 11 | Columbia County, WI | 3 | $303K | 1.7% | |
| 12 | Dodge County, WI | 2 | — | 1.2% |
Industry mix
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Construction | 23 | 13.3% | |
| 2 | Other Services (except Public Administration) | 23 | 13.3% | |
| 3 | Professional, Scientific, and Technical Services | 22 | 12.7% | |
| 4 | Manufacturing | 19 | 11.0% | |
| 5 | Accommodation and Food Services | 19 | 11.0% | |
| 6 | Transportation and Warehousing | 17 | 9.8% | |
| 7 | Retail Trade | 16 | 9.2% | |
| 8 | Arts, Entertainment, and Recreation | 9 | 5.2% |
| # | Industry group | Approvals | Share | |
|---|---|---|---|---|
| 1 | Automotive Repair and MaintenanceNAICS 8111 | 12 | 6.9% | |
| 2 | Restaurants and Other Eating PlacesNAICS 7225 | 11 | 6.4% | |
| 3 | Building Finishing ContractorsNAICS 2383 | 8 | 4.6% | |
| 4 | Personal Care ServicesNAICS 8121 | 7 | 4.0% | |
| 5 | Other Amusement and Recreation IndustriesNAICS 7139 | 6 | 3.5% | |
| 6 | Specialized Freight TruckingNAICS 4842 | 6 | 3.5% | |
| 7 | Machine Shops; Turned Product; and Screw, Nut, and Bolt ManufacturingNAICS 3327 | 5 | 2.9% | |
| 8 | Direct Selling EstablishmentsNAICS 4543 | 5 | 2.9% | |
| 9 | General Freight TruckingNAICS 4841 | 5 | 2.9% | |
| 10 | Drinking Places (Alcoholic Beverages)NAICS 7224 | 5 | 2.9% |
Approval sizes
- $50,000 or less25.4%44
- $50,001 to $150,00031.8%55
- $150,001 to $350,00024.3%42
- $350,001 to $1 million16.2%28
- $1 million to $2 million1.7%3
- Over $2 million0.6%1
Loan terms
- 5 years or less3.5%6
- Over 5 to 10 years66.5%115
- Over 10 to 20 years13.9%24
- Over 20 years16.2%28
Age of the businesses
- Existing, more than 2 years old52.0%90
- New business, 2 years or less18.5%32
- Startup, loan funds will open the business17.9%31
- Change of ownership11.6%20
SBA processing method
| # | Method | Approvals | Share | |
|---|---|---|---|---|
| 1 | SBA Express Program | 97 | 56.1% | |
| 2 | 7a General | 58 | 33.5% | |
| 3 | Preferred Lenders Program | 18 | 10.4% |
Franchise share
10 of 173 approvals in FY2021–FY2025 (5.8%) carried an SBA franchise code; across the 7(a) program the share is 11.5%.
| # | Franchise brand | Approvals | Share | |
|---|---|---|---|---|
| 1 | Biggby Coffee | 3 | 1.7% | |
| 2 | CertaPro Painters | 1 | 0.6% | |
| 3 | Units | 1 | 0.6% | |
| 4 | Play It Again Sports | 1 | 0.6% | |
| 5 | Billy Sims Barbecue | 1 | 0.6% | |
| 6 | redbox+ | 1 | 0.6% | |
| 7 | RealClean Aircraft Detailing | 1 | 0.6% | |
| 8 | Subway | 1 | 0.6% |
Questions and answers
How many SBA loans does Summit CU make?
SBA approved 13 7(a) loans through Summit CU in FY2025, worth $2.5M, and 173 over FY2021 to FY2025. That ranks 219th of 2,184 active 7(a) lenders by number of approvals.
How large are Summit CU's typical SBA loans?
The median 7(a) approval in FY2021 to FY2025 was $131K and the average $238K. The program-wide median was $190K.
What is Summit CU's charge-off rate?
Of 783 disbursed loans approved in FY2010 to FY2021, SBA records 34 as charged off (4.3%), 656 as paid in full and 93 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 Summit CU lend to most?
By number of approvals in FY2021 to FY2025: automotive repair and maintenance (12); restaurants and other eating places (11); building finishing contractors (8); personal care services (7).
Where does Summit CU make SBA loans?
In 1 state or territory. Wisconsin 173. In Wisconsin it accounts for 3.2% of all 7(a) approvals.
Is Summit CU's SBA lending rising?
Approvals in the three latest complete fiscal years total 66, against 151 in the three before: falling (-56%).
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