SBA loans by state
SBA loans in Wisconsin: 861 approvals in FY 2026, median $221,500
The state stood out for loans to machine shops. 20% of loans financed the purchase of a business.
Independent site, not a lender and not affiliated with the U.S. Small Business Administration. Loans are applied for only with an SBA lender.
Your loan against approvals in your state
Example, not your result yet· change a figure to see yours
Wisconsin: 7(a) loans approved last year
861
| Your rate vs. last year’s loans of this size, all states | about the median for this size |
| Wisconsin: median rate at approval, $50,001 to $250,000 | 9.50% |
| Wisconsin: median 7(a) loan last year | $221,500 |
| Payment over 10 years, SBA fee added to the loan | $3,000/mo |
Last year’s loans: the 7(a) loans SBA approved from October 1, 2025 to September 30, 2026 (fiscal year 2026), in SBA’s public loan file of September 30, 2026. Rates at approval were set when prime was 6.75% or 7.00%; today: prime rate 7.00% on November 2, 2026. Your rate is compared on its margin over prime, so the change in prime since last year does not count against you.
Wisconsin, FY 2026: 861 SBA 7(a) approvals for $513.8 million (22nd of the 50 states and DC, SBA file of September 30, 2026). The state stood out for loans to machine shops. 20% of loans financed the purchase of a business. The state used 504 loans heavily: 188 approvals for $191.8 million. Home-state lenders made 44% of the loans, against 26% nationwide. 26% of loans had a fixed rate, against 13% nationally. Credit unions made 10% of loans. No lender dominated: the busiest made 12% of loans. Few approvals were cancelled, 9%. Only 7% of variable loans sat at the SBA maximum. Mid-size loans had a median rate of 9.50%, below the national 9.75%. Lending was spread out; Dane County led with 15%. Today’s cap on a $222,000 variable loan: 13.00%.
Fee notices read and loan file counted by Radif Partners · Editorial policy · Method and sources
| Lender | FY 2026 loans | Median loan | Median variable rate | Lender’s home state |
|---|---|---|---|---|
| U.S. Bank | 102 | $45,500 | 10.50% | Ohio |
| Summit CU | 47 | $150,000 | 7.75% | Wisconsin (in-state) |
| Huntington National Bank | 42 | $135,000 | 9.25% | Ohio |
| Northeast Bank | 37 | $150,000 | 9.75% | Maine |
| Newtek Bank | 33 | $105,000 | 9.75% | Florida |
More common here than nationally: machine shops
13 Wisconsin loans went to machine shops, 4.8 times the national share for that trade. The most frequent trades overall were full-service restaurants, fitness and recreational sports centers and residential remodelers. As a manufacturer (NAICS 31 to 33), a business in this trade pays no FY 2027 guaranty fee on a 7(a) loan of $700,000 or less, and on a 504 project its debenture may reach $5,500,000.
A market for business buyers
Acquisitions took 20% of Wisconsin’s SBA loans, 4th highest among the 50 states and DC. Each followed SBA’s rules for buying a business, with their own requirements on the buyer’s equity, the valuation and any seller note.
A leading 504 state
Relative to its 7(a) volume, Wisconsin uses 504 debentures more than almost anywhere: 188 of them for $191.8 million, a ratio to 7(a) loans 8th highest among the 50 states and DC. WBD, Inc. arranged 158 on its own. Building owners here can count on a CDC that knows the local market.
One of the most home-grown SBA markets
Few states rely on their own banks the way Wisconsin does: 44% of its loans came from a lender headquartered there, 8th highest among the 50 states and DC. Summit CU carry most of that. Margins: 1.50 points over prime at the median for in-state lenders, 2.75 points for the others.
| Loan size | Loans | Median variable rate, FY 2026 | SBA maximum today |
|---|---|---|---|
| $50,000 or less | 175 | 9.50% | 13.50% |
| $50,001 to $250,000 | 292 | 9.50% | 13.00% |
| $250,001 to $350,000 | 91 | 9.00% | 11.50% |
| over $350,000 | 303 | 8.75% | 10.00% |
A fixed-rate market
Wisconsin lenders wrote 26% of their SBA loans at a fixed rate, 7th highest among the 50 states and DC, at a median of 7.75%. The fixed cap, prime plus 5 to 8 points, is set in the Federal Register notice of August 1, 2022.
Credit unions take part
Credit unions made 10% of Wisconsin’s SBA loans, against 3% nationally. A member business can ask its credit union first; the SBA rules and caps are the same.
No dominant lender
The busiest lender, U.S. Bank, made only 12% of Wisconsin’s approvals; 144 lenders shared the rest. With that many lenders active, a second and third quote are easy to get.
Few cancellations
Only 9% of Wisconsin’s approvals were later cancelled (14% nationally); nearly every loan approved went on to be disbursed.
Counties with the most approvals: Dane (130), Milwaukee (105) and Waukesha (94). Trades: full-service restaurants (39), fitness and recreational sports centers (31), residential remodelers (29), plumbing, heating, and air-conditioning contractors (25) and limited-service restaurants (23).
All states compared.