WISCONSIN · NAICS NAICS 6233 family
Wisconsin's aging metro markets across Milwaukee, Madison, and the Fox Valley keep senior housing demand and competitive supply rising together. Lenders treat senior housing as study-mandatory in practice, with month-by-month ramp, payer mix, and staffing analysis expected in the package against a defined trade area.
FEASIBILITY TRIGGER
Special-purpose senior housing is study-mandatory in practice, with month-by-month ramp, payer mix, and staffing analysis expected.
Between FY2010 and FY2026, SBA lenders approved and disbursed 177 7(a) and 504 loans for assisted living projects in Wisconsin, totaling $177.5 million in approved financing at an average of $1.0 million per loan. Wisconsin ranks #6 of 38 states tracked for assisted living SBA lending volume and accounts for 4.8% of national assisted living SBA dollar volume. 69.5% of these loans were made under the 7(a) program, the remainder under 504. 21 loans have been approved since FY2024.
| Disbursed loans (FY2010–FY2026) | 177 |
| Approved volume | $177.5 million |
| Average loan size | $1.0 million |
| 7(a) share | 69.5% |
| Approvals since FY2024 | 21 |
| State rank by loan count | #6 of 38 |
Among the 140 seasoned loans in this segment (approvals FY2010–FY2021), 3.6% reached adverse resolution — purchased, liquidated, or charged off. The national benchmark for assisted living is 4.1%, against 7.3% across all industries. That performance runs below the national benchmark for this asset class, a credit-positive signal for lenders.
Source: SBA 7(a) and 504 FOIA loan-level data, as of March 31, 2026. Disbursed loans only. See data methodology.
A 3.6% adverse-resolution rate below the national assisted living benchmark of 4.1% supports the credit story for well-underwritten Wisconsin projects in this class. Across 177 SBA loans averaging $1.0 million, that track record does not eliminate the need for a third-party feasibility study, but it means a rigorous study reinforces rather than defends the projections.
Every Wisconsin assisted living project we underwrite follows the same lender ready process: independent market analysis, site and technical review, and financial projections tested against SBA SOP 50 10 8 standards. Our SBA feasibility study consultants guide explains scope, timing, deliverables, and what lenders and CDCs expect in the report.
Wisconsin projects often pencil under SBA 504 because the 50/40/10 structure delivers up to 90 percent financing on owner-occupied real estate at a fixed debenture rate, and SBA 7(a) covers acquisitions, working capital, and equipment. From July 4, 2026 eligible borrowers can combine 7(a) and 504 for up to $10 million in total program credit.
Wisconsin's aging metro markets across Milwaukee, Madison, and the Fox Valley keep senior housing demand and competitive supply rising together, exactly the tension a credible study resolves.
For a national view of this asset class, see our assisted living SBA feasibility overview, and read our related analysis in the assisted living lending research on our blog.
Compare neighboring markets: West Virginia, Wyoming, Texas.
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Fifteen-minute scoping call, written proposal inside one business day, firm fixed fee before you sign.
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