Disclosure: Our content isn't financial advice. Do your due diligence and speak to your financial advisor before making any investment decision. We may earn money from products reviewed. (Learn more)

Are you looking for Wisconsin’s best business loans & startup financing companies? For your small business in the Badger State, many banks, credit unions, and unconventional lenders are offering different loan types. Did you know that more than 462,000 businesses were operating in Wisconsin in 2022? That’s why many lenders offer financing options in this state today.

Understand the unique features and benefits of different loan types to empower your business. That’s how you choose the best lender for your business. Also, look into no-credit equipment financing options if you can’t get a business loan via traditional means.

Consider these 10 business loans & startup financing options in Wisconsin to get started. Check our reviews of these lenders to decide which one’s the best option for you:

1. Swoop Funding

Swoop Funding is every Wisconsin-based small company’s top startup financing option. It will offer entrepreneurs a range of funding solutions to meet their needs. You can access many loan types, including traditional term loans and innovative financing options with a simplified funding process. At Swoop Funding, you can get $5k to $500k as a small business. Moreover, you have to have a credit score of 600+ with the company’s annual revenue being $50k (at least). Even if it’s been 6 months since you started this business, Swoop will consider your loan application!

2. Bank Five Nine

This lender has a comprehensive lending detail on its website. It offers you various loan types tailored to your business’s unique needs. From SBA lending and lines of credit to commercial property loans and Paycheck Protection Programs (PPPs) – you can get a lot of opportunities for lending here. So, the 5/9 Bank will offer you flexible repayment terms with competitive rates.

3. Byline Bank

Byline Bank has like $9.4 billion in assets. That’s why it’s a pretty credible lender. You can trust this loan provider to help out your business financially. You can take out a loan here from $10k to $3 million based on your eligibility. This bank also helps startups in Illinois and Indiana get the money they need to stay afloat.

4. Nicolet National Bank

This lender operates from their 50 branches in Wisconsin and Michigan, offering careful lending solutions to small businesses. The average interest rate here is 4.58%. However, the average loan amount Nicolet National Bank approves is $584k, making it an ideal lender for businesses in Wisconsin. This lender also claims to be the largest community agricultural bank based in the Badger State. If you’re a farmer facing financial problems, get in touch with Nicolet right away. 

5. Waukesha State Bank

Waukesha State Bank is one of the most reliable lenders in Wisconsin. It offers you diverse loan types so you can keep your business alive and thriving. Its SBA 504 loans take the following shape:

• Loan-to-Values of up to 90% (no cash out) and 85% (cash out)
• Loan amounts $50,000 – $5.5 million
• Available terms include 10, 20, and 25 years

6. Community State Bank

This lender has a low interest rate (4.79%) but $308,000 is the average loan amount they often provide. However, they have seven locations all over Wisconsin, and their mailing address is in Burlington. You can just fill out a simple form with your information and apply for a SBA loan via Community State Bank. This lender has been in business since the end of the 19th century. So, you can trust CSB to give you excellent guidance. Their lending team is composed of experts from Waterford, WI, and other areas.

7. Summit Credit Union

At the Summit Credit Union, the average interest rate is 5.25%. But you’ll get an average loan of over $200,000 from this lender. They claim to help Wisconsin-based small businesses establish, expand, and equip themselves in the Badger State. You can apply for commercial loans, open a new line of credit, or take out a real estate investment loan from the Summit Credit Union.

8. Hiawatha National Bank

This lender was the first bank in Fleetwood when it first started in the 1890s. Now, they have headquarters in Hudson, WI, and offer the following lending options to eligible entrepreneurs:

• Business Line of Credit
• Commercial Real Estate
• Equipment Loans
• SBA Guaranteed Loans
• Agriculture Loans

So, if you need Bobcat equipment financing or something else, get in touch with this lender. This lender operates from its various branches in Wisconsin. The interest rate is low (4.22) and they approve a decent average loan amount of $452,000 if you’re eligible to receive financing.

9. WWBIC

You can get in touch with the WWBIC to get a loan up to the amount of $350,000. If you need micro-loans, then you will find this organization a credible lender. However, their conditions and requirements can be a little strict. For instance, you need to show them a written business plan with 3 years of financial projections to be considered eligible for this loan. These conditions can disappoint some startups or struggling companies in Wisconsin.

10. Citizens Community Federal Bank

With the average interest rate being 5.21%, this loan provider gives business owners $772k as a loan (on average). Also, it offers startup financing in Wisconsin and Minnesota, helping small businesses and local entrepreneurs achieve their entrepreneurial dreams. They claim to offer ease, experience, and expertise when it comes to startup financing for entrepreneurs. Also, the CCD Bank claims to have secured more SBA-approved loans for Wisconsin-based businesses than any other Wisconsin-based bank in their asset class ($1 billion to $5 billion).

Conclusion

Whether you’re a startup owner or founded a well-established business years ago, you have to choose the right financing partner and lender. That’s how you keep your business vessel afloat and key commercial operations running in Wisconsin in this economy.

Now, choose a lender that offers you flexible loan terms and interest rates. Check their online reputation, customer service, interest rates, and other factors. If something needs to be clarified, get in touch with Sophisticated Investor to understand how to get your entrepreneurial dreams funded quickly. That’s how you can take your business to new heights of success.