Small business loans in Sheboygan, WI
Short answer
The most active SBA lenders in Sheboygan, WI since FY2024 are Oostburg State Bank (11 loans) and Bank First (6). The median loan was $175,300, and half fell between $98,000 and $477,000. For free help, see the Wisconsin Small Business Development Center. Source: SBA 7(a) loan data.
- SBA loans since FY2024
- 35
- approved since FY2024
- $13.84M
- median loan
- $175,300
- through SBA Express
- 31.4%
Lenders making SBA loans in Sheboygan
Oostburg State Bank made the most loans in Sheboygan, 31% of the total.
| Lender | Loans | Share |
|---|---|---|
| Oostburg State Bank | 11 | 31.4% |
| Bank First | 6 | 17.1% |
Share is the percent of all Sheboygan loans in that period. Each name links to that lender's page for Wisconsin where one exists.
Sheboygan has two lenders with five or more loans since FY2024. Others had fewer, and the Wisconsin page counts 207 lenders with at least one approved loan statewide.
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Local help near Sheboygan
Sheboygan borrowers can start with SBA's district office for Wisconsin, an SBDC or SCORE.
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 Sheboygan
Sheboygan ranks 9th by loans since FY2024 among the 9 Wisconsin cities with 100 or more SBA loans since FY2020. Nationally it is the 576th busiest of the 580 cities that reach 100 loans.
The 35 loans, 1.4% of the 2,534 in Wisconsin, were approved for $13.8 million in all. The medianThe middle figure. Half the loans were larger and half were smaller. loan was $175,300, 17% above the national median of $150,300. Half of the loans fell between $98,000 and $477,000. The Sheboygan median is 14% below the Wisconsin median of $204,500.
| Measure | Sheboygan | Wisconsin | U.S. |
|---|---|---|---|
| Loans | 35 | 2,534 | 162,355 |
| Median loan | $175,300 | $204,500 | $150,300 |
| 25th percentile | $98,000 | $75,000 | $50,000 |
| 75th percentile | $477,000 | $500,725 | $500,000 |
| Via SBA Express | 31.4% | 32.0% | 35.8% |
| Lines of credit | 25.7% | 23.9% | 28.1% |
| Startups | 34.3% | 18.4% | 16.1% |
| Ownership changes | 22.9% | 17.7% | 10.4% |
| Median term | 10 years | 10 years | 10 years |
| Median spread | 2.0 | 2.25 | 2.75 |
| Charged off | 0.0% | 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.
83% of the loans were $500,000 or less, the size SBA Express covers. 31.4% of all loans went through SBA Express, below the national 35.8%. Lines of credit were 25.7% 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.
Fiscal years run October to September. The last bar covers nine of its twelve months.
Volume rose 27% from FY2024 (11 loans) to FY2025 (14), the two latest full years. The busiest full year in the file was FY2021, with 24 loans. FY2026 already shows 10 loans through June 30.
Of the 64 loans Sheboygan borrowers received in FY2020 to FY2022, 0.0% 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. That group is small, so treat the rate as rough. Lenders reported 431 jobs supported across the 35 loans since FY2024, about 12.3 per loan. SBA does not audit these estimates.
What businesses in Sheboygan borrow for
Full-Service Restaurants was the largest borrower group in Sheboygan since FY2020, with 8 loans or 7.0% of the total.
The four largest industries made up 20% of all Sheboygan loans since FY2020.
| Industry | Loans | Share | U.S. share |
|---|---|---|---|
| Full-Service Restaurants | 8 | 7.0% | 4.6% |
| General Automotive Repair | 5 | 4.3% | 1.5% |
| General Freight Trucking, Long-Distance, Truckload | 5 | 4.3% | 1.3% |
| Plumbing, Heating, and Air-Conditioning Contractors | 5 | 4.3% | 1.9% |
Share is the percent of all Sheboygan 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 Sheboygan
The median Sheboygan loan was $175,300 with a median term of 10 years.
The median variable-rate loan in Sheboygan was priced at Prime plus 2.0 percentage points at approval. At today's Prime that spread works out to 9.00%. On $175,300 over 10 years, principal and interest would come to about $2,221 a month. That is arithmetic on past loans, not a rate a lender is offering.
| Loan | Amount | Monthly payment |
|---|---|---|
| 25th percentile loan | $98,000 | $1,241 |
| Median loan | $175,300 | $2,221 |
| 75th percentile loan | $477,000 | $6,042 |
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 $175,300 is Prime plus 6.0 percentage points, or 13.00% today. The median variable-rate loan here was priced 4.0 points under that ceiling. Source: 13 CFR § 120.214(d)(2); SOP 50 10 8.1, App. 18, Para. A.2 (p. 395).
Sheboygan loans approved since FY2024 had a median starting rate of 8.5% at approval, against 10.25% nationally. 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 $175,000 loan and SBA Express payment calculator.
SBA 504 loans near Sheboygan
Sheboygan has 6 SBA 504 loans since FY2024, with $3.1 million in SBA and CDC dollars.
The median 504 loan in Sheboygan was $459,500 in SBA and CDC dollars, 9% 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 one Certified Development CompanyA nonprofit that SBA certifies and regulates to arrange 504 loans together with a bank. (CDC) named on five or more loans, 8 since FY2020.
| Certified Development Company | 504 loans |
|---|---|
| WBD, Inc. | 8 |
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 Sheboygan
Sheboygan made up 1.4% of Wisconsin's SBA loans since FY2024.
Sheboygan 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 Sheboygan
Which lenders make the most SBA loans in Sheboygan?
Oostburg State Bank leads with 11 loans in Sheboygan since FY2024. Bank First (6) follows. Only lenders with five or more Sheboygan loans are counted.
Which industries get SBA loans in Sheboygan?
Full-Service Restaurants leads with 8 loans in Sheboygan since FY2020. General Automotive Repair (5) and General Freight Trucking, Long-Distance, Truckload (5) 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 Sheboygan, WI. SBA Express Loans, Janover Capital LLC (data as of June 30, 2026). https://www.sbaexpress.loans/wisconsin-small-business-loans/sheboygan/
Ask lending partners about a loan in Sheboygan
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.