WISCONSIN · NAICS 531130
Wisconsin self-storage deals turn on a structurally undersupplied Milwaukee metro at just 3.8 square feet per resident across 48 facilities, with seasonal boat and RV storage adding a Wisconsin-specific demand stream. Live Oak Bank's dedicated national self-storage vertical closed $111.7 million in calendar 2025, and lender packages require studies analyzing supply within a three to five mile radius, absorption, and rent benchmarks.
FEASIBILITY TRIGGER
Self-storage is special-purpose; studies analyze supply within a three to five mile radius, absorption, and rent benchmarks.
From FY2010 through FY2026, Wisconsin recorded 202 SBA-disbursed self-storage loans across the 7(a) and 504 programs, representing $145.3 million in approved financing at an average loan size of $719,000. The state sits at rank #3 of 38 for self-storage SBA lending volume and holds 4.1% of the national self-storage dollar pool. 7(a) accounts for 64.4% of the count, 504 for the rest, with 5 fresh approvals dated FY2024 or later.
| Disbursed loans (FY2010–FY2026) | 202 |
| Approved volume | $145.3 million |
| Average loan size | $719,000 |
| 7(a) share | 64.4% |
| Approvals since FY2024 | 5 |
| State rank by loan count | #3 of 38 |
Among the 172 seasoned loans in this segment (approvals FY2010–FY2021), 0.6% reached adverse resolution — purchased, liquidated, or charged off. The national benchmark for self-storage is 1.1%, 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 0.6% adverse-resolution rate below the national self-storage benchmark of 1.1% supports the credit story for well-underwritten Wisconsin projects in this class. Across 202 SBA loans averaging $719,000, 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 self-storage 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.
Milwaukee holds just 3.8 square feet of self-storage per resident across 48 facilities, below the national benchmark and structurally undersupplied, with seasonal boat and RV storage adding a Wisconsin-specific demand stream; Live Oak Bank's dedicated national vertical closed $111.7 million in calendar 2025.
For a national view of this asset class, see our self-storage SBA feasibility overview, and read our related analysis in the self-storage lending research on our blog. The SBA self-storage feasibility study tests pipeline supply, verified competitor occupancy and the monthly lease-up reserve.
Compare neighboring markets: West Virginia, Wyoming, Texas.
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