SBA Ledger

States › Wisconsin

State2.0% of US approvals275 lenders active

SBA loans in Wisconsin

7(a) and 504 approvals by fiscal year, the lenders behind them, and where in the state they went. Pick a fiscal year for that year's lenders and counties.

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 6,706 small business loans in Wisconsin in FY2021 to FY2025: 5,475 under the 7(a) program and 1,231 under 504, worth $3.98bn together.

That is 46.3 approvals for every 1,000 business establishments in the state, against 41.0 nationally, and 2.0% of all approvals in the country (18th of 54 states and territories).

In FY2025 there were 1,328 approvals totalling $757M, about level with FY2024. The median 7(a) approval over the five years was $225K and the median 504 approval $616K.

275 lenders had at least one approval in the state; by number of 7(a) approvals the most active were U.S. Bank, National Association (443), The Huntington National Bank (290) and Nicolet National Bank (261).

Of 7(a) loans approved in FY2010 to FY2021 and disbursed, SBA records 4.9% as charged off, against 6.6% nationally.

1,328approvals, FY20256,706 in FY2021–FY2025
$757Mapproved, FY2025$3.98bn in FY2021–FY2025
46.3approvals per 1,000 establishments, FY2021–FY2025US: 41.0
$225Kmedian 7(a) approvalUS: $190K
4.9%7(a) loans approved FY2010–FY2021 charged offUS: 6.6%

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.

Most active 7(a) lenders in Wisconsin

Ranked by number of approvals to businesses in the state, FY2021–FY2025. The column of bars shows each lender's approvals here in every fiscal year; the charged-off column is the lender's nationwide figure.

#LenderApprovals in WI, FY2021–25DollarsShareMedian approval, all statesFY2016–26Charged off, FY2010–21 loans
1U.S. Bank, National AssociationCincinnati, OH443$79.4M8.1%$45K6.2%
2The Huntington National BankColumbus, OH290$91.7M5.3%$92K5.7%
3Nicolet National BankGreen Bay, WI261$138M4.8%$312K2.8%
4Bank First, N.A.Manitowoc, WI236$113M4.3%$286K1.9%
5Hiawatha National BankHager City, WI202$76.7M3.7%$200K3.8%
6Old National BankEvansville, IN187$191M3.4%$500K4.7%
7Summit CUCottage Grove, WI173$41.1M3.2%$131K4.3%
8CCFBank National AssociationAltoona, WI167$113M3.1%$350K5.2%
9Wisconsin Women's Business Initiative CorporationMilwaukee, WI164$26.4M3.0%$150K3.7%
10Byline BankChicago, IL151$173M2.8%$806K9.5%
11Associated Bank National AssociationGreen Bay, WI143$68.6M2.6%$282K4.6%
12Waukesha State BankWaukesha, WI130$86.9M2.4%$450K6.8%
13Bank Five NineOconomowoc, WI123$76.8M2.2%$450K4.5%
14Community State BankUnion Grove, WI123$35.6M2.2%$113K3.8%
15Northeast BankLewiston, ME113$15.4M2.1%$106K12.8%
16Readycap Lending, LLCBerkeley Heights, NJ96$25.0M1.8%$138K4.3%
17Newtek Bank, National AssociationMiami, FL94$33.9M1.7%$225K—
18Live Oak Banking CompanyWilmington, NC90$123M1.6%$850K2.2%
19Lake Ridge BankMiddleton, WI86$28.6M1.6%$200K1.3%
20BayFirst National BankSaint Petersburg, FL71$11.0M1.3%$150K19.2%
21Celtic Bank CorporationSalt Lake City, UT60$40.8M1.1%$150K17.0%
22Fortifi BankBerlin, WI60$18.9M1.1%$185K5.6%
23Wells Fargo Bank National AssociationSioux Falls, SD56$13.1M1.0%$15K7.9%
24American National Bank-Fox CitiesAppleton, WI55$14.4M1.0%$150K1.3%
25Oostburg State BankOostburg, WI52$24.0M0.9%$324K0.0%
26United Midwest Savings Bank National AssociationDe Graff, OH52$17.7M0.9%$150K15.9%
27JPMorgan Chase Bank, National AssociationColumbus, OH50$8.9M0.9%$200K7.4%
28IncredibleBankWausau, WI47$44.6M0.9%$815K4.9%
29The Stephenson National Bank and TrustMarinette, WI44$23.5M0.8%$257K6.7%
30Town Bank, National AssociationHartland, WI43$20.6M0.8%$300K0.0%
31Security Financial BankDurand, WI41$13.2M0.7%$177K0.0%
32Forward BankMarshfield, WI41$8.0M0.7%$128K2.0%
33Peoples State BankWausau, WI36$22.3M0.7%$370K2.5%
34BMO Bank National AssociationChicago, IL35$16.7M0.6%$512K2.9%
35One Community BankOregon, WI35$12.4M0.6%$185K4.0%
36Cleveland State BankCleveland, WI34$14.7M0.6%$227K—
37First Internet Bank of IndianaFishers, IN32$39.2M0.6%$895K5.3%
38Ixonia BankIxonia, WI29$24.2M0.5%$240K0.0%
39First Bank of the LakeOsage Beach, MO28$24.4M0.5%$350K2.7%
40Citizens State Bank of La CrosseLa Crosse, WI28$8.2M0.5%$135K5.5%

504 certified development companies

#LenderApprovals in WI, FY2021–25DollarsShareMedian approval, all statesFY2016–26Charged off, FY2010–21 loans
1WBD, Inc.Madison, WI · 504 CDC1,064$991M86.4%$616K1.2%
2Racine County Economic Development CorporationSturtevant, WI · 504 CDC111$94.0M9.0%$560K0.0%
3Twin Cities-Metro Certified Development CompanyVadnais Heights, MN · 504 CDC14$10.1M1.1%$716K2.1%
4Midwest Business Finance CorporationSt. Cloud, MN · 504 CDC12$23.6M1.0%$506K1.2%
5SomerCor 504, Inc.Chicago, IL · 504 CDC12$14.5M1.0%$587K1.4%
6Small Business Growth CorporationSpringfield, IL · 504 CDC8$12.9M0.6%$609K1.4%
7Amplio Economic Development CorporationArden Hills, MN · 504 CDC6$3.8M0.5%$455K0.6%
8Central Minnesota Development CompanyAndover, MN · 504 CDC1—0.1%$604K0.5%
9Mountain West Small Business FinanceSalt Lake City, UT · 504 CDC1—0.1%$684K0.6%
10Dakota Business FinanceSioux Falls, SD · 504 CDC1—0.1%$466K1.1%
11Michigan Certified Development CorporationEast Lansing, MI · 504 CDC1—0.1%$583K0.8%

Fiscal-year ledger

Fiscal year7(a) approvals7(a) dollarsMedian 7(a)504 approvals504 dollarsAll approvalsJobs supported, as reported
FY2026*624$364M$200K144$143M7688,505
FY20251,128$551M$204K200$205M1,32814,316
FY20241,099$525M$193K173$188M1,27213,132
FY2023964$482M$215K182$173M1,14611,827
FY2022958$500M$234K335$287M1,29314,404
FY20211,326$775M$283K341$298M1,66719,927
FY2020972$459M$200K251$206M1,22312,809
FY20191,074$426M$150K175$136M1,24913,131
FY20181,277$511M$125K150$116M1,42714,128
FY20171,312$500M$150K191$150M1,50314,968
FY20161,486$538M$150K137$118M1,62318,385

7(a) approvals504 approvals

919293949596979899000102030405060708091011121314151617181920212223242526
SBA approvals in Wisconsin by fiscal year, FY1991 to FY2026.

Counties

Approvals in FY2021–FY2025 set against the Census Bureau's count of business establishments. Counties with at least 30 approvals have their own page.

#CountyApprovalsDollarsEstablishmentsPer 1,000 establishmentsBy fiscal year
1Milwaukee County924$514M20,46645.1
2Waukesha County710$462M12,76155.6
3Dane County659$396M14,76544.6
4Brown County333$189M6,72249.5
5Outagamie County281$167M5,30453.0
6Racine County266$137M4,11464.7
7St. Croix County221$99.9M2,42291.2
8Sheboygan County205$105M2,67176.8
9Winnebago County179$97.1M3,78447.3
10Kenosha County178$115M3,40352.3
11Eau Claire County170$120M2,75361.8
12La Crosse County157$103M3,15149.8
13Washington County157$93.7M3,42745.8
14Ozaukee County144$101M2,83250.8
15Marathon County144$81.5M3,43641.9
16Walworth County130$71.2M2,82946.0
17Manitowoc County123$80.0M1,72671.3
18Fond du Lac County94$70.3M2,22742.2
19Rock County94$67.9M3,36228.0
20Polk County87$50.2M1,16374.8
21Chippewa County80$43.1M1,66048.2
22Columbia County77$49.0M1,43253.8
23Jefferson County66$44.2M2,05832.1
24Barron County64$45.5M1,34047.8
25Marinette County54$33.9M1,05451.2
26Pierce County53$28.6M78867.3
27Door County50$24.6M1,29238.7
28Portage County48$31.6M1,71528.0
29Dunn County47$34.8M91551.4
30Oneida County46$23.3M1,38733.2
31Dodge County40$24.1M1,69323.6
32Sawyer County40$27.8M62763.8
33Trempealeau County40$12.0M65161.4
34Monroe County36$12.5M96737.2
35Waupaca County36$24.9M1,19930.0
36Sauk County36$26.7M1,87619.2
37Vilas County34$27.5M96135.4
38Douglas County31$11.8M99831.1
39Clark County29$12.7M77937.2
40Juneau County28$16.2M54151.8
41Oconto County28$16.4M78135.9
42Wood County27$14.5M1,71715.7
43Calumet County27$17.1M96827.9
44Price County25$9.8M36967.8
45Grant County25$15.5M1,17721.2
46Kewaunee County24$17.4M46551.6
47Shawano County23$17.9M89225.8
48Vernon County22$17.4M68632.1
49Burnett County20$6.6M41148.7
50Adams County19$8.0M34654.9
51Green County19$25.9M1,01218.8
52Green Lake County19$9.9M46341.0
53Rusk County18$8.1M32156.1
54Ashland County18$10.3M49136.7
55Langlade County17$12.4M56230.2
56Lincoln County17$7.6M68624.8
57Washburn County17$8.4M49934.1
58Marquette County17$14.2M27861.2
59Buffalo County17$5.9M31254.5
60Waushara County16$14.0M49432.4
61Taylor County15$7.9M48231.1
62Pepin County14$6.3M20967.0
63Crawford County13$3.8M37934.3
64Bayfield County13$5.2M46927.7
65Iron County11$3.3M19357.0
66Iowa County11$9.9M58218.9
67Jackson County7$7.2M40017.5
68Forest County7$2.2M22730.8
69Florence County5$911K10846.3
70Lafayette County2—3485.7
71Richland County2—3775.3

Industries

#Industry group (NAICS 4-digit)ApprovalsDollarsShare
1Restaurants and Other Eating PlacesNAICS 7225593$311M8.8%
2Automotive Repair and MaintenanceNAICS 8111226$124M3.4%
3Other Amusement and Recreation IndustriesNAICS 7139218$128M3.3%
4Services to Buildings and DwellingsNAICS 5617210$60.8M3.1%
5Building Equipment ContractorsNAICS 2382173$78.3M2.6%
6Offices of Other Health PractitionersNAICS 6213162$44.4M2.4%
7Traveler AccommodationNAICS 7211158$267M2.4%
8General Freight TruckingNAICS 4841153$52.5M2.3%
9Drinking Places (Alcoholic Beverages)NAICS 7224146$49.4M2.2%
10Personal Care ServicesNAICS 8121140$25.0M2.1%
11Child Day Care ServicesNAICS 6244132$87.3M2.0%
12Other Personal ServicesNAICS 8129125$64.8M1.9%
13Other Specialty Trade ContractorsNAICS 2389123$75.7M1.8%
14Residential Building ConstructionNAICS 2361119$39.2M1.8%
15Building Finishing ContractorsNAICS 2383113$28.9M1.7%

Sectors

#NAICS sectorApprovalsShare
1Accommodation and Food Services99314.8%
2Retail Trade85012.7%
3Manufacturing84512.6%
4Construction70510.5%
5Other Services (except Public Administration)6239.3%
6Health Care and Social Assistance5918.8%
7Professional, Scientific, and Technical Services4086.1%
8Administrative and Support and Waste Management and Remediation Services3345.0%
9Transportation and Warehousing3254.8%
10Arts, Entertainment, and Recreation2724.1%

Franchise brands

#BrandApprovalsShare
1Culver's ButterBurgers & Frozen Custard190.3%
2The UPS Store160.2%
3U.S. Oil160.2%
4Piggly Wiggly150.2%
5Budget Blinds110.2%
6Super 8 by Wyndhan100.1%
7Scooter's Coffee100.1%
8X-Golf100.1%
9AmericInn by Wyndham80.1%
10Rote Oil Ltd.80.1%

How earlier loans turned out

Wisconsin, 7(a)4.9%
United States, 7(a)6.6%
Wisconsin, 5041.1%
United States, 5041.2%
Share of disbursed loans approved FY2010–FY2021 that SBA records as charged off, by program.
Loans approved FY2010–FY2021WI 7(a)US 7(a)WI 504US 504
Approvals in these years16,853639,9052,41685,591
Cancelled or never disbursed1,98379,31324412,514
Disbursed loans14,870560,5922,17273,077
Paid in full12,167435,8131,00335,491
Charged off73636,89124905
Still outstanding (status exempt from disclosure)1,96787,8881,14536,681
Charged off, share of disbursed loans4.9%6.6%1.1%1.2%
Dollars charged off, share of disbursed dollars2.6%2.5%0.5%0.9%
Dollars charged off$143M$5.70bn$7.5M$499M

Approval sizes

Age of the businesses

Against the country

FY2021–FY2025WisconsinUnited States
Approvals per 1,000 establishments46.341.0
Median 7(a) approval$225K$190K
Median 504 approval$616K$657K
504 share of approvals18.4%11.0%
Jobs supported per approval, as reported11.010.5
Approvals, change on FY2016–FY2020-5%10%

Questions and answers

Which lenders make the most SBA loans in Wisconsin?

By 7(a) approvals in FY2021 to FY2025: U.S. Bank, National Association (443), The Huntington National Bank (290), Nicolet National Bank (261), Bank First, N.A. (236), Hiawatha National Bank (202). For 504 loans: WBD, Inc. (1,064), Racine County Economic Development Corporation (111), Twin Cities-Metro Certified Development Company (14). Volume says how active a lender is, nothing about terms or service.

How large are typical SBA loans in Wisconsin?

The median 7(a) approval was $225K and the median 504 approval $616K; the average across both programs was $594K.

Which industries get the most SBA loans in Wisconsin?

Restaurants and Other Eating Places (593); Automotive Repair and Maintenance (226); Other Amusement and Recreation Industries (218); Services to Buildings and Dwellings (210); Building Equipment Contractors (173).

Which Wisconsin counties receive the most SBA loans?

Milwaukee County (924), Waukesha County (710), Dane County (659), Brown County (333), Outagamie County (281), by approvals in FY2021 to FY2025.

Is SBA lending in Wisconsin rising?

Approvals in the three latest complete fiscal years total 3,746, against 4,183 in the three before: falling (-10%).

What share of SBA loans in Wisconsin are charged off?

Of 7(a) loans approved in FY2010 to FY2021 and disbursed, 4.9% are recorded as charged off (national: 6.6%); for 504 loans the figure is 1.1% (national: 1.2%). Newer loans are left out because most have not had time to reach either outcome.

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