Small business loans in Milwaukee, WI
Short answer
The most active SBA lenders in Milwaukee, WI since FY2024 are The Huntington National Bank (41 loans) and U.S. Bank (36). The median loan was $150,000, and half fell between $50,000 and $500,000. For free help, see the Wisconsin Small Business Development Center. Source: SBA 7(a) loan data.
- SBA loans since FY2024
- 268
- approved since FY2024
- $137.45M
- median loan
- $150,000
- through SBA Express
- 34.0%
Lenders making SBA loans in Milwaukee
No lender made more than 15% of the loans in Milwaukee, and The Huntington National Bank made the most. The five largest lenders together made 47%.
| Lender | Loans | Share |
|---|---|---|
| The Huntington National Bank | 41 | 15.3% |
| U.S. Bank | 36 | 13.4% |
| Wisconsin Women's Business InitiativeNon-bank lender | 21 | 7.8% |
| Old National Bank | 15 | 5.6% |
| Readycap Lending, LLCNon-bank lender | 13 | 4.9% |
Share is the percent of all Milwaukee loans in that period. Each name links to that lender's page for Wisconsin where one exists.
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Local help near Milwaukee
Milwaukee borrowers can start with SBA's district office for Wisconsin, an SBDC or SCORE.
31% of Milwaukee borrowers since FY2024 were startups or businesses two years old or younger. SBDCs provide counseling and training, and SCORE mentors give advice at no cost, according to SBA.
SBA has one district office for Wisconsin. Its page points to state and federal resources and to lenders in the area. The Wisconsin Small Business Development Center gives free counseling across Wisconsin.
- SBA Wisconsin District OfficeSBA district office
- Wisconsin Small Business Development CenterSmall Business Development Center
- SCORE mentors in WisconsinBusiness mentoring
Alongside SBA loans, Wisconsin runs four loan programs. The Wisconsin page describes each, and the official pages are linked here.
Loan counts and sizes in Milwaukee
Milwaukee ranks 1st by loans since FY2024 among the 9 Wisconsin cities with 100 or more SBA loans since FY2020. Nationally it is the 48th busiest of the 580 cities that reach 100 loans.
The 268 loans, 10.6% of the 2,534 in Wisconsin, were approved for $137.5 million in all. The medianThe middle figure. Half the loans were larger and half were smaller. loan was $150,000, close to the national median of $150,300. Half of the loans fell between $50,000 and $500,000. The Milwaukee median is 27% below the Wisconsin median of $204,500.
| Measure | Milwaukee | Wisconsin | U.S. |
|---|---|---|---|
| Loans | 268 | 2,534 | 162,355 |
| Median loan | $150,000 | $204,500 | $150,300 |
| 25th percentile | $50,000 | $75,000 | $50,000 |
| 75th percentile | $500,000 | $500,725 | $500,000 |
| Via SBA Express | 34.0% | 32.0% | 35.8% |
| Lines of credit | 25.4% | 23.9% | 28.1% |
| Startups | 16.0% | 18.4% | 16.1% |
| Ownership changes | 12.3% | 17.7% | 10.4% |
| Median term | 10 years | 10 years | 10 years |
| Median spread | 2.75 | 2.25 | 2.75 |
| Charged off | 3.0% | 2.1% | 3.6% |
A quarter of loans were smaller than the 25th percentile loan and a quarter were larger than the 75th. Median spread is in percentage points over Prime. Charged off is the share of FY2020 to FY2022 loans a lender wrote off as a loss. It is shown only for groups of 30 loans or more. Fewer than 5 marks a share that would stand for 1 to 4 loans, which we do not publish. U.S. covers every loan in the file.
76% of the loans were $500,000 or less, the size SBA Express covers. 34.0% of all loans went through SBA Express, close to the national 35.8%. Lines of credit were 25.4% of loans, close to the national 28.1%.
Labels show each size's share of all loans. The highlighted bar is the size band that contains the median.
By business age, 56.3% of loans went to businesses more than two years old and 15.3% to businesses two years old or younger. Startups received 16.0% and changes of ownership 12.3%.
Fiscal years run October to September. The last bar covers nine of its twelve months.
Volume fell 19% from FY2024 (123 loans) to FY2025 (100), the two latest full years. The busiest full year in the file was FY2024, with 123 loans. FY2026 already shows 45 loans through June 30.
Of the 230 loans Milwaukee borrowers received in FY2020 to FY2022, 3.0% were charged offThe lender wrote the loan off as a loss because it was not being repaid. by June 30, 2026, against 3.6% nationally. Lenders reported 2,933 jobs supported across the 268 loans since FY2024, about 10.9 per loan. SBA does not audit these estimates.
What businesses in Milwaukee borrow for
Child Care Services was the largest borrower group in Milwaukee, with 15 loans or 5.6% of the total.
The five largest industries made up 22% of all Milwaukee loans. Drinking Places (Alcoholic Beverages) stands out: its 11 loans are 4.1% of Milwaukee loans, against 0.5% nationally, 7.6 times its national share.
| Industry | Loans | Share | U.S. share |
|---|---|---|---|
| Child Care Services | 15 | 5.6% | 1.5% |
| Full-Service Restaurants | 15 | 5.6% | 4.6% |
| Limited-Service Restaurants | 12 | 4.5% | 3.3% |
| Drinking Places (Alcoholic Beverages) | 11 | 4.1% | 0.5% |
| Home Health Care Services | 6 | 2.2% | 1.0% |
Share is the percent of all Milwaukee loans in that period. Industry is the NAICS code on each loan. A name links to the Wisconsin page for that industry where one exists.
A typical loan payment in Milwaukee
The median Milwaukee loan was $150,000 with a median term of 10 years.
The median variable-rate loan in Milwaukee was priced at Prime plus 2.75 percentage points at approval. At today's Prime that spread works out to 9.75%. On $150,000 over 10 years, principal and interest would come to about $1,962 a month. That is arithmetic on past loans, not a rate a lender is offering.
| Loan | Amount | Monthly payment |
|---|---|---|
| 25th percentile loan | $50,000 | $654 |
| Median loan | $150,000 | $1,962 |
| 75th percentile loan | $500,000 | $6,539 |
Principal and interest only. Fees, a different term or a fixed rate change the payment. This is an illustration from SBA's file, not an offer.
SBA's rate ceiling for this loan size
SBA's maximum for a loan of $150,000 is Prime plus 6.0 percentage points, or 13.00% today. The median variable-rate loan here was priced 3.2 points under that ceiling. Source: 13 CFR § 120.214(d)(2); SOP 50 10 8.1, App. 18, Para. A.2 (p. 395).
Milwaukee loans approved since FY2024 had a median starting rate of 10.25% at approval, matching the national median. Prime changed during those years, so use the spread above, not that rate, as the guide to today's cost.
Run your own numbers: payments on a $150,000 loan and SBA Express payment calculator.
SBA 504 loans near Milwaukee
Milwaukee has 19 SBA 504 loans since FY2024, with $21.9 million in SBA and CDC dollars.
The median 504 loan in Milwaukee was $1,063,000 in SBA and CDC dollars, 21% of the $5,000,000 program maximum. The bank's share of each project is separate and is not counted in these figures.
WBD, Inc. is the Certified Development CompanyA nonprofit that SBA certifies and regulates to arrange 504 loans together with a bank. (CDC) named on the most loans since FY2020, with 62. Racine County Economic Development Corporation follows with 5. The two CDCs listed are named on 67 loans between them.
| Certified Development Company | 504 loans |
|---|---|
| WBD, Inc. | 62 |
| Racine County Economic Development Corporation | 5 |
How a 504 loan is split
A standard 504 project is 50% third party lender, 40% CDC debenture, 10% borrower. 504 money pays for major fixed assets such as land, buildings and long-term machinery and equipment, not working capitalMoney for day-to-day costs such as payroll, rent and inventory. Full definition or inventory. Source: SOP 50 10 8.1, Sec. C, Ch. 1, Para. B (p. 221). SBA keeps a list of Certified Development Companies.
Wisconsin cities near Milwaukee
Milwaukee made up 10.6% of Wisconsin's SBA loans since FY2024.
Milwaukee is one of 9 Wisconsin cities with 100 or more SBA loans since FY2020. The Wisconsin page covers all 2,534 loans in Wisconsin. The closest come first, ranked by county and ZIP code on their loans.
Common questions about SBA loans in Milwaukee
Which lenders make the most SBA loans in Milwaukee?
The Huntington National Bank leads with 41 loans in Milwaukee since FY2024. U.S. Bank (36) and Wisconsin Women's Business Initiative (21) follow. Only lenders with five or more Milwaukee loans are counted.
Which industries get SBA loans in Milwaukee?
Child Care Services leads with 15 loans in Milwaukee since FY2024. Full-Service Restaurants (15) and Limited-Service Restaurants (12) follow.
How to read this
Counts come from SBA's 7(a) loan-level data release, as of June 30, 2026. The file lists loans SBA approved. It does not list declined applications, so it cannot show approval odds. We do not publish any figure built on fewer than 5 loans. Location is the borrower's address in the file, and city names are as SBA recorded them. Recent means FY2024 through June 30, 2026. Charge-off rates use FY2020 to FY2022 loans, the only years old enough to have had time to go bad. Jobs supported are lender-reported estimates. How we build these pages.
Sources
- SBA 7(a) and 504 FOIA loan-level data, as of June 30, 2026
- SBA, 504 loans
- SBA, resource partners: SBDCs and SCORE
- SBA Wisconsin District Office
- Wisconsin Small Business Development Center
- SCORE, Wisconsin
- SOP 50 10 8.1, Sec. C, Ch. 1, Para. D.1 (p. 241); 13 CFR § 120.931
- SOP 50 10 8.1, Sec. C, Ch. 1, Para. B (p. 221)
- sba.gov/loans/504-loans; SOP 50 10 8.1, Sec. A, Ch. 3, Para. A (p. 51)
- SOP 50 10 8.1, Sec. B, Ch. 2, Para. B.1 (p. 126)
- 13 CFR § 120.214(d)(2); SOP 50 10 8.1, App. 18, Para. A.2 (p. 395)
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Cite this page: Small business loans in Milwaukee, WI. SBA Express Loans, Janover Capital LLC (data as of June 30, 2026). https://www.sbaexpress.loans/wisconsin-small-business-loans/milwaukee/
Ask lending partners about a loan in Milwaukee
Tell us what you need and we refer your request to lending partners.
Janover Capital LLC is not a lender and is not the SBA. The lender makes the credit decision. A lender or marketplace may pay us a referral fee if we connect you, at no cost to you. Advertiser disclosure.