Last updated on March 17th, 2020 at 01:31 pm
A total of 14 Wisconsin community-based lenders were recognized by the U.S. Small Business Administration’s Wisconsin office in 16 SBA loan volume and specialty categories for the 2019 fiscal year.
Community-based lenders across the state won in six asset categories under $1 billion, according to a press release. Four lenders made more than 70 SBA-backed loans, including Huntington National Bank in Milwaukee, Byline Small Business Capital in Brookfield, Summit Credit Union in Madison and WBD, Inc. in Madison.
WBD, Inc., an SBA Certified Development Corporation, made 155 loans for $112.6 million. Byline Small Business Capital also made the highest number of SBA export loans for a total of $8.9 million.
Waukesha State Bank, which falls in the $500 million to $1 billion asset size category, was recognized for its loan volume at 35 loans for a total of $14.1 million. First Bank Financial Centre in Oconomowoc, which is in the $1 billion to $5 billion asset category, was also recognized for its SBA loan volume with 34 loans for $14.9 million.
Wisconsin Women’s Business Initiative Corporation (WWBIC) was recognized as the community advantage lender with the most loans approved – the Milwaukee-based organization made 32 loans for a total of $4.1 million.
U.S. Bank in Milwaukee was recognized as the lender with the most veteran loans – a total of 5 loans for $351,000.
Small businesses had access to a total of $564 million in capital via various SBA-backed loan programs in the 2019 fiscal year. Lenders recognized by the SBA loaned more than half of all SBA-backed dollars in Wisconsin last year, said Eric Ness, district director for SBA Wisconsin.
“SBA-backed lending is one of the most effective options for small business to start, grow, expand and recover from adversity,” Ness said. “We congratulate them on their commitment to small business success and the SBA programs.”