WISCONSIN · NAICS 3121
Wisconsin pairs deep Milwaukee brewing heritage with a modern craft sector of 266 breweries, 14th in the nation by count and 13th per capita per the Brewers Association, contributing roughly 11,200 jobs and $1.48 billion in income. Production capacity, taproom revenue, and inventory cycles make these projection-heavy deals where studies are routinely required.
FEASIBILITY TRIGGER
Production capacity, taproom revenue, and inventory cycles make these projection-heavy deals where studies are routinely required.
SBA 7(a) and 504 lenders funded 230 brewery, distillery, and winery projects across Wisconsin between FY2010 and FY2026, moving $107.7 million in approved capital at an average ticket of $468,000. That volume places Wisconsin at #8 of 38 states measured for brewery, distillery, and winery SBA activity, or 3.7% of national brewery, distillery, and winery dollars. The 7(a) program carried 78.7% of the loan count, with 504 taking the balance, and 13 approvals have hit the pipeline since FY2024.
| Disbursed loans (FY2010–FY2026) | 230 |
| Approved volume | $107.7 million |
| Average loan size | $468,000 |
| 7(a) share | 78.7% |
| Approvals since FY2024 | 13 |
| State rank by loan count | #8 of 38 |
Among the 193 seasoned loans in this segment (approvals FY2010–FY2021), 9.8% reached adverse resolution — purchased, liquidated, or charged off. The national benchmark for brewery, distillery, and winery is 8.1%, against 7.3% across all industries. That performance runs above the national benchmark for this asset class, which is a factor lenders weigh in their credit decision.
Source: SBA 7(a) and 504 FOIA loan-level data, as of March 31, 2026. Disbursed loans only. See data methodology.
A 9.8% adverse-resolution rate against the national brewery, distillery, and winery benchmark of 8.1% tells credit committees to scrutinize revenue projections and coverage assumptions closely on Wisconsin deals in this class. A rigorous third-party feasibility study — built on documented demand, defensible pricing, and stressed coverage — carries meaningful weight in that underwriting conversation, particularly at an average loan size of $468,000 across 230 loans.
Every Wisconsin breweries, distilleries and wineries 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 pairs deep Milwaukee brewing heritage with a modern craft sector of 266 breweries, 14th in the nation by count and 13th per capita, contributing roughly 11,200 jobs and $1.48 billion in income, and WBD's named record includes a contract brewer that grew into an Asahi acquisition.
For a national view of this asset class, see our brewery, distillery, and winery SBA feasibility overview, and read our related analysis in the brewery, distillery, and winery lending research on our blog.
Compare neighboring markets: West Virginia, Wyoming, Texas.
Public SBA and CDC program records, cited as program evidence
SBA 504 through WBD Inc.
Contract and craft brewery later sold to Asahi Europe and International as public record, program evidence
Waunakee, Dane County
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