WISCONSIN · NAICS NAICS 7211 family
Wisconsin lodging splits between the Wisconsin Dells resort corridor, the Door County peninsula, and the Milwaukee and Madison business markets, comp-set worlds a credible study must model separately. Lender packages turn on a third-party study that ties flag standards, average daily rate, occupancy, and revenue per available room to each local trade area, with the compressed summer season stress-tested against weekend-driven demand and a defined seasonal curve.
FEASIBILITY TRIGGER
Hotels are on the SOP 50 10 8 special-purpose list, so a third-party feasibility study is normally required, the appraisal must come from an industry-experienced going-concern appraiser, and equity rises to 15 percent, or 20 percent for a startup flag.
From FY2010 through FY2026, Wisconsin recorded 406 SBA-disbursed hotel loans across the 7(a) and 504 programs, representing $553.1 million in approved financing at an average loan size of $1.4 million. The state sits at rank #15 of 38 for hotel SBA lending volume and holds 1.6% of the national hotel dollar pool. 7(a) accounts for 66.0% of the count, 504 for the rest, with 51 fresh approvals dated FY2024 or later.
| Disbursed loans (FY2010–FY2026) | 406 |
| Approved volume | $553.1 million |
| Average loan size | $1.4 million |
| 7(a) share | 66.0% |
| Approvals since FY2024 | 51 |
| State rank by loan count | #15 of 38 |
Among the 307 seasoned loans in this segment (approvals FY2010–FY2021), 2.0% reached adverse resolution — purchased, liquidated, or charged off. The national benchmark for hotel is 4.4%, 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 2.0% adverse-resolution rate below the national hotel benchmark of 4.4% supports the credit story for well-underwritten Wisconsin projects in this class. Across 406 SBA loans averaging $1.4 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 hotels and motels 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 lodging concentrates in the Wisconsin Dells, where average daily rates rose 52 percent to $164 between 2019 and 2021, and Door County, peninsula resort markets whose compressed summer seasons invert against metro Milwaukee and Madison business demand, comp-set worlds a study must model separately.
For a national view of this asset class, see our hotel SBA feasibility overview, and read our related analysis in the hotel lending research on our blog. Lenders and sponsors can engage a hotel feasibility study consultant for SBA loans.
Compare neighboring markets: West Virginia, Wyoming, Texas.
Public SBA and CDC program records, cited as program evidence
$15,188,000 SBA 504 through TMC Financing
58,370 square foot hotel closed May 29, 2025, national program evidence
Marina, Monterey County, California
SBA 504 partner buyout through Ohio Statewide Development Corporation with LendingClub Bank
Quality Inn property, 2026, national program evidence
Streetsboro, Portage County, Ohio
Fifteen-minute scoping call, written proposal inside one business day, firm fixed fee before you sign.
Book a MeetingOur SBA feasibility study consultants prepare lodging and hospitality studies for lenders, CDCs and sponsors. See pricing, methodology or request a fixed fee quote.
California, Texas, Florida, New York, Illinois, Georgia, New Jersey, Ohio, Pennsylvania, Michigan, Arizona, Colorado, Washington, Virginia, Minnesota, Maryland, Wisconsin, Missouri, Indiana, South Carolina, Oregon, Connecticut, Nevada, North Carolina, Tennessee, Massachusetts, Nebraska, New Mexico, West Virginia, Idaho, Montana, Maine, New Hampshire, Rhode Island, Delaware, Iowa, Kansas, Wyoming.