WISCONSIN · NAICS NAICS 7225 family
Wisconsin's supper club tradition gives the state one of the most distinctive restaurant cultures in the country, where destination dining concepts pair with metro Milwaukee and Madison density. Lender packages turn on independent studies that model menu mix, margins, and tourism seasonality, especially for startups, conversions, and expansions where operating history is thin and projections drive the credit decision.
FEASIBILITY TRIGGER
Restaurant deals are projection-based for startups, conversions, and expansions; lenders routinely require independent studies where history is thin.
SBA 7(a) and 504 lenders funded 1,969 restaurant projects across Wisconsin between FY2010 and FY2026, moving $786.5 million in approved capital at an average ticket of $399,000. That volume places Wisconsin at #14 of 38 states measured for restaurant SBA activity, or 2.2% of national restaurant dollars. The 7(a) program carried 86.7% of the loan count, with 504 taking the balance, and 225 approvals have hit the pipeline since FY2024.
| Disbursed loans (FY2010–FY2026) | 1,969 |
| Approved volume | $786.5 million |
| Average loan size | $399,000 |
| 7(a) share | 86.7% |
| Approvals since FY2024 | 225 |
| State rank by loan count | #14 of 38 |
Among the 1,541 seasoned loans in this segment (approvals FY2010–FY2021), 8.5% reached adverse resolution — purchased, liquidated, or charged off. The national benchmark for restaurant is 9.4%, 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 8.5% adverse-resolution rate below the national restaurant benchmark of 9.4% supports the credit story for well-underwritten Wisconsin projects in this class. Across 1,969 SBA loans averaging $399,000, 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 restaurants 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 supper club tradition gives the state one of the most distinctive restaurant cultures in the country, where a destination dining concept's projections rest on tourism seasonality a credible model must capture.
For a national view of this asset class, see our restaurant SBA feasibility overview, and read our related analysis in the restaurant lending research on our blog.
Compare neighboring markets: West Virginia, Wyoming, Texas.
Public SBA and CDC program records, cited as program evidence
$1.1M SBA 504 through Florida First Capital
Restaurant and bar with bottle shop, national program evidence
St. Augustine, St. Johns County, Florida
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.