GoSBA’s Top 50 Wisconsin SBA Lenders in 2024
Overview of SBA Loans in Wisconsin
Wisconsin, with a population of approximately 5.9 million people, is a state with a diverse and resilient economy. Known for its strong presence in agriculture, manufacturing, healthcare, and tourism, Wisconsin provides a supportive environment for both large enterprises and small businesses. With major cities like Milwaukee, Madison, and Green Bay, Wisconsin has a rich history of entrepreneurship and innovation.
Popular industries in Wisconsin include manufacturing, agriculture, healthcare, technology, and tourism. In FY 2023, Wisconsin SBA loan providers funded 2,400 businesses, with a total loan volume of $1.7 billion. The state also boasts a growing entrepreneurial community, with an increasing number of women-owned businesses making significant contributions to its economic development.
Finding the Best Wisconsin SBA Loans
Finding the best and most affordable business loans can be challenging, but we make it easier by comparing all the top SBA lenders in Wisconsin for you. GoSBA Loans helps businesses secure the financing they need to grow—whether for purchasing equipment, refinancing high-interest loans, acquiring commercial property, or financing business improvements. After reading our analysis, click “Apply Now” to let us match you with the best SBA loan providers in Wisconsin.
Challenges in Accessing SBA Loans in Wisconsin
A significant challenge for small businesses in Wisconsin is gaining access to affordable financing. The top SBA lenders in the state include major financial institutions like Associated Bank, U.S. Bank, BMO Harris Bank, Johnson Bank, Wells Fargo, Bank of America, Byline Bank, First Business Bank, PNC Bank, and Summit Credit Union. These ten lenders funded 1,200 businesses in Wisconsin, with a combined loan volume of $1.3 billion. However, just because these lenders are popular does not mean they are the best fit for every business type. Many small businesses may find better success with specialized SBA lenders.
How GoSBA Loans Helps Wisconsin Small Businesses
At GoSBA Loans, we understand the struggle of finding the best and most affordable SBA loans for your business. Our unique approach circulates your loan application to 30 of the top 100 SBA lenders in Wisconsin, increasing your chances of approval. We make lending for small businesses easier, faster, and more affordable. Below is our official ranking of the top 50 Wisconsin SBA lenders in 2024.
Top 50 Wisconsin SBA Lenders in 2024
| Bank Name | Sum of Term in Months | Amount Funded | Loans Funded | Average Initial Interest Rate |
|---|---|---|---|---|
| Old National Bank | $5,046 | $32,339,000 | 35 | 8.58% |
| Live Oak Banking Company | $2,166 | $17,805,000 | 13 | 10.29% |
| Byline Bank | $2,891 | $15,046,700 | 15 | 11.18% |
| Citizens Community Federal National Association | $2,640 | $14,113,600 | 15 | 10.93% |
| The Huntington National Bank | $6,696 | $11,915,800 | 53 | 10.53% |
| U.S. Bank, National Association | $7,242 | $11,752,200 | 71 | 10.09% |
| Associated Bank, National Association | $3,744 | $11,160,300 | 23 | 10.08% |
| Newtek Bank, National Association | $2,160 | $10,865,000 | 18 | 12.28% |
| Bremer Bank, National Association | $1,158 | $10,150,800 | 7 | 9.36% |
| Celtic Bank Corporation | $900 | $10,027,000 | 6 | 11.08% |
| Hiawatha National Bank | $3,360 | $10,000,600 | 37 | 9.14% |
| Town Bank, National Association | $1,956 | $9,574,300 | 14 | 8.81% |
| Shoreham Bank | $900 | $9,014,000 | 3 | 9.92% |
| CIBM Bank | $960 | $9,000,000 | 5 | 10.00% |
| Bank First, N.A. | $3,363 | $7,917,600 | 30 | 8.60% |
| Ixonia Bank | $360 | $7,750,000 | 3 | 8.00% |
| Bank Five Nine | $2,257 | $7,210,500 | 13 | 9.97% |
| Nicolet National Bank | $3,063 | $6,712,500 | 25 | 8.82% |
| First Internet Bank of Indiana | $792 | $6,526,000 | 5 | 11.05% |
| Cleveland State Bank | $1,161 | $5,580,900 | 5 | 9.00% |
| Peoples State Bank | $900 | $5,412,000 | 6 | 11.00% |
| Exos Small Business Lending LLC | $120 | $5,000,000 | 1 | 11.50% |
| American National Bank-Fox Cities | $1,728 | $4,669,700 | 13 | 8.98% |
| First Bank of the Lake | $609 | $4,420,000 | 5 | 12.25% |
| Harvest Small Business Finance, LLC | $1,200 | $4,318,500 | 4 | 11.13% |
| IncredibleBank | $543 | $4,034,000 | 3 | 10.33% |
| Readycap Lending, LLC | $3,720 | $3,935,000 | 31 | 13.86% |
| Horicon Bank | $480 | $3,799,000 | 4 | 8.11% |
| Wisconsin Women’s Business Initiative Corporation | $2,772 | $3,768,000 | 26 | 9.00% |
| VelocitySBA, LLC | $960 | $3,755,000 | 5 | 11.20% |
| GBank | $600 | $3,645,000 | 2 | 9.88% |
| Waukesha State Bank | $975 | $3,556,300 | 7 | 9.82% |
| MidWestOne Bank | $474 | $3,387,800 | 5 | 10.20% |
| Fortifi Bank | $840 | $3,385,400 | 6 | 8.96% |
| CenTrust Bank, National Association | $120 | $2,924,000 | 1 | 11.50% |
| BayFirst National Bank | $2,760 | $2,859,200 | 23 | 13.25% |
| Centerstone SBA Lending, Inc. | $300 | $2,679,000 | 1 | 10.00% |
| Oostburg State Bank | $900 | $2,429,000 | 6 | 9.00% |
| Veritex Community Bank | $120 | $2,418,300 | 1 | 11.00% |
| Cadence Bank | $907 | $2,355,500 | 6 | 11.13% |
| Fund-Ex Solutions Group, LLC | $480 | $2,290,400 | 3 | 11.33% |
| First National Community Bank | $1,320 | $2,243,100 | 8 | 9.32% |
| Mission Valley Bank | $420 | $2,126,500 | 2 | 10.63% |
| Merchants Bank of Indiana | $420 | $2,010,000 | 2 | 10.25% |
| Security Financial Bank | $252 | $1,994,000 | 2 | 9.00% |
| Dogwood State Bank | $540 | $1,957,100 | 3 | 10.92% |
| National Exchange Bank and Trust | $120 | $1,944,000 | 1 | 9.00% |
| First American Bank | $600 | $1,900,000 | 4 | 9.38% |
| JPMorgan Chase Bank, National Association | $1,488 | $1,888,600 | 13 | 12.33% |
| Summit CU | $1,479 | $1,657,100 | 11 | 9.55% |
Leading Wisconsin SBA Lenders by Loan Volume
Analyzing the table above, Old National Bank leads the way in Wisconsin with the highest loan volume, funding over $32.34 million across 35 loans. This positions Old National Bank as a strong choice for businesses looking for substantial financing in Wisconsin.
Top SBA Lenders by Number of Loans Funded
When it comes to the number of loans funded, U.S. Bank, National Association takes the lead with 71 loans totaling over $11.75 million. This makes U.S. Bank highly active in the SBA lending market and a reliable choice for small business owners seeking an experienced lender.
Other Notable SBA Lenders in Wisconsin
Associated Bank and The Huntington National Bank are also significant players in the Wisconsin SBA lending market. Associated Bank funded 23 loans totaling $11.16 million, while The Huntington National Bank provided 53 loans with a loan volume of $11.92 million. These banks are ideal for small business owners seeking moderate-sized loans from established lenders.
For businesses looking for smaller loans, institutions like First Business Bank, Summit Credit Union, and Capitol Bank provide various options. Their focus on smaller loan amounts makes them suitable for startups and small businesses needing accessible financing.
Why Choose GoSBA Loans for SBA Loans in Wisconsin?
Partnering with GoSBA Loans provides applicants with access to a wide array of SBA lenders in Wisconsin. We help match you with the lender that suits your business needs, taking into account loan amounts, approval criteria, and loan terms. By working with us, you’ll gain access to a network of lenders, ensuring that your application reaches the right banks at the right time, ultimately increasing your likelihood of success.
Benefits of SBA Loans for Wisconsin Small Businesses
Whether you’re a new startup or an established small business, securing an SBA loan can help you expand operations, purchase equipment, or boost working capital. Wisconsin’s diverse economic base and supportive entrepreneurial ecosystem provide a unique opportunity for small business owners to succeed, and we’re here to help you every step of the way.
Ready to Apply for an SBA Loan in Wisconsin?
If you’re ready to find the best SBA lenders in Wisconsin, contact us to begin your journey. Our team at GoSBA Loans is committed to helping your small business secure the financing it needs to grow and thrive in 2024 and beyond.
