Small Business Loans & SBA Loans in Milwaukee

What financing options are available for small businesses in Wisconsin’s most populated city? Find out about possible loans and which ones might fit your business.

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Loan types available in Milwaukee.

Milwaukee is one of the hottest cities for entrepreneurs right now because it has a growing population, a relatively low cost of living, and access to the bounty of the entire Midwest and Great Lakes regions. A small business loan can get your operation up to speed by letting you take advantage of everything Brew City has to offer.

SBA loans

SBA loans are business loans that are partially backed by the Small Business Administration (SBA), a federal agency. These loans are serviced by private lenders, but are popular because they generally have good interest rates.

Line of credit

Use a line of credit as a flexible form of financing. Unlike with a loan, this option does not involve a big disbursement upfront that you must repay, providing a flexibility that better fits many entrepreneurs’ needs.

Term loan

Term loans are common small business loans in which you would apply for a large disbursement of capital and then repays it over several years, along with fixed or variable interest.

Equipment finance

With equipment financing, you receive a piece of equipment and then pay off the cost of the equipment in installments. This way, your business can make money off the equipment immediately, even if you don’t have the funds to buy it at the sticker price.

Accounts receivable financing

Accounts receivable financing is an alternative form of business financing in which your unpaid invoices serve as collateral for a lump disbursement of funds.

Local Milwaukee business loan options.

Several local organizations provide small business funding resources in Milwaukee.

Self-Help Federal Credit Union is a younger credit union dedicated to serving lower-income areas, with branches in Milwaukee and many small business lending options.

The Milwaukee Economic Development Corporation (MEDC) is a local non-profit that offers low-interest loans to Milwaukee entrepreneurs.

The Equitable Bank services a large suite of commercial lending options for businesses in Milwaukee, as well as the rest of southeastern Wisconsin.

The City of Milwaukee’s Office of Equity and Inclusion administers a Revolving Loan Program to assist SBE-certified firms in Milwaukee with financing.

Educators Credit Union provides various types of loans including business auto loans, equipment loans, and more to small businesses in Milwaukee.

Associated Bank offers many types of business loans to small businesses in the Milwaukee area.

WWBIC provides loans of up to $350,000 to small and micro start-ups and established businesses in Milwaukee.

Peoples State Bank offers several loan types, including business lines of credit, equipment financing, SBA loans, and more to small businesses in Milwaukee.

As an SBA lender, Wisconsin Bank & Trust offers Milwaukee business owners favorable terms and local decision-making.

Four simple steps to funding.

Tell us about your business.

Answer a few simple questions and complete the application in minutes.

Submit your application.

We’ll present your application to our marketplace 75+ lenders. Applying is free and won’t impact your credit score.

Compare offers.

Find the funding option with the terms that best fit your small business goals.

Get funded.

Once you accept, funding can hit your bank account in as little as 24 hours.

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FAQs

What other resources are available to Milwaukee small businesses?

The City of Milwaukee’s Department of City Development is a great resource to check out first if you’re an entrepreneur, because the agency really focuses on fostering small businesses in the city. Depending on the neighborhood in which you are located, there is probably a Business Improvement District set up for you—an awesome resource hub formed by a partnership between local businesses, the city government, and neighbors. The Milwaukee Business Journal, a press outlet favored by local companies, can provide in-depth educational resources and business data for the city.

What Milwaukee small business grants are available?

If you are looking to renovate or construct a new or existing storefront or other building in Milwaukee, the city offers multiple neighborhood Commercial Revitalization Grants for projects like yours. The Greater Milwaukee Foundation has a long history of granting initiatives for small businesses in the area, with a special focus on getting funding to entrepreneurs from underserved backgrounds. The Main Street Bounceback Grants program is aimed at attracting entrepreneurs to open their doors in Milwaukee’s vibrant downtown area by providing cash assistance.

How to use a Milwaukee small business loan?

You can use a small business loan in Milwaukee to help get your new business started or to reach the next level of an existing business. Funding can be utilized to overcome cash flow crunches, and, in the best case scenarios, financing helps your business expand over time. You can use a Milwaukee small business loan to best your competition by renovating your location or launching a fantastic marketing campaign, for example.

What do I need to qualify for a Milwaukee business loan?

To qualify for a business loan in Milwaukee, you first need to choose a business structure. You then might need to register with the Wisconsin Secretary of State and, in some cases, the City of Milwaukee. Once your company is set up, you can apply for funding. Generally, you will want to have a solid business plan, detailed business financial documentation, and a good personal credit report. Lendio’s easy-to-use online platform makes it a snap to see many of your Milwaukee financing options in minutes.

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