Healthcare practice financing in Wisconsin

The citation column is what makes the rest of the table usable. Treat it as the starting map rather than advice, and have counsel confirm the structure before signing. Verified

Source: SBA 7(a) and 504 approval files, fiscal year 2025. Verified

Most of the Wisconsin paper sits in FRANKLIN, $6.7 million of it. Elsewhere the appraisal radius widens and the review runs longer. Verified

Only categories CMS certifies in Wisconsin get a row here. If a cell says not yet loaded, the pillar has not been pulled yet and no estimate is substituted. Directional

Milwaukee leads Wisconsin with 30 certified providers, ahead of MILWAUKEE at 13. Lenders read Milwaukee volume as a benchmark, so a practice elsewhere in Wisconsin carries more of the argument alone. Verified

The base to finance in Wisconsin is 14,380 establishments, with physician and specialty offices the largest block at 2,767. Physician and specialty offices account for the largest share of the base at 2,767. Verified

2,999 establishments sit in Milwaukee, more than any other Wisconsin county on file. Density decides whether a second location is bought or built, and the two carry different collateral. Verified

Mean pay for registered nurses in Wisconsin is $95,530 across 68,060 people. Staffing a new location is priced off that number, not a national one, and the difference shows up in month 6 of a ramp. Verified

Wisconsin carries 5,934 designations across primary care, dental, mental health, Milwaukee highest at 2,193. Designation changes recruitment before it changes pricing: repayment support reaches a clinician hired there, and a stalled vacancy becomes fillable. Verified

• Dental offices: 10 approvals, $14.3 million, $1.4 million average. A Wisconsin request near $1.4 million sits inside the band 10 approvals already established.
• Home health and hospice: 12 approvals, $11.1 million, $926,825 average. A Wisconsin request near $926,825 sits inside the band 12 approvals already established.
• Residential care and treatment: average approval $416,450 over 14 closings worth $5.8 million. At $416,450 against $5.8 million of state volume, that is an equipment or fit-out request more often than an acquisition.
• Veterinary practices: $1.0 million average across 4 Wisconsin approvals worth $4.0 million, so a request in that range reads as routine rather than exceptional.
• Chiropractic offices: 14 closings, $3.6 million approved, $258,264 typical. That average is the reference point a Wisconsin credit committee starts from on a similar file.
• Med spa and personal care: 12 closings, $2.7 million approved, $224,292 typical. That average is the reference point a Wisconsin credit committee starts from on a similar file.
• Behavioral health and ABA: 10 Wisconsin approvals totaling $2.4 million, $238,490 each. With only 10 Wisconsin approvals behind $2.4 million, the underwriter reads documents rather than precedent.
• Pharmacies: $1.4 million across 3 approvals, averaging $463,333. Above $463,333 the file needs collateral or trading history that most of those 3 Wisconsin borrowers did not have to show.
• Physician and specialty offices: $316,667 on average, 3 approvals, $950,000 in total. Match $316,667 and the timeline is ordinary; ask well above it and the Wisconsin diligence list lengthens.

• 10 of the Wisconsin approvals went to dental offices, 29 percent of the state's healthcare dollars at $1.4 million each. When a field already carries this much local paper, the credit committee has something to compare against, and the conversation moves faster.
• Second by dollars is home health and hospice, $11.1 million over 12 approvals, with residential care and treatment behind it. Volume in a field is what turns a projection into a comparable, and it is the reason two identical requests price differently in Wisconsin.
• 1,086 medical equipment suppliers operate under CMS certification in Wisconsin. A funder treats that license as proof of billable revenue, which is precisely what a start-up cannot show.
• The 504 column holds 15 Wisconsin approvals. An owner planning the same move in Wisconsin can point at closed local paper rather than a hypothetical.

• 98 SBA approvals to Wisconsin healthcare borrowers in FY2025¹
• $49.0 million approved, averaging $500,289 per loan¹
• 1,458 CMS-certified providers across 5 categories²

• Healthcare AR line and payroll funding
• Partner buy-in, buy-out, and refinance
• Commercial real estate, owner-occupied
• Equipment financing and leasing
• Business line of credit
• Practice acquisition
• Startup and de novo

• Wisconsin Medical Examining Board, licensure and ownership questions for physicians
• Wisconsin Dentistry Examining Board, licensure and ownership questions for dentists
• Wisconsin has no verified state repayment scheme, state lending program, or financing disclosure regulator on file here

Also covered in Wisconsin: Fond du Lac, Reedsburg, New Richmond, Eau Claire, New Berlin, Menomonee Falls, Kenosha, Stoughton, Manitowoc, Marshfield, Racine, Hartford, Marinette, West Allis, Two Rivers, Waupun, Janesville, Oshkosh, La Crosse, Wausau, Hudson, Baraboo, Superior, Glendale, Greenfield, Burlington, Grafton, Appleton

• All states covered
• Every financing program
• Arizona healthcare practice financing, where the same fields price differently
• Connecticut healthcare practice financing, where the same fields price differently
• Hawaii healthcare practice financing, for a second reading of the same datasets
• ABA and autism therapy, with the payer profile behind the numbers
• Specialty physician groups, with the payer profile behind the numbers
• Skilled nursing, assisted living, and memory care, with the payer profile behind the numbers
• Mobile diagnostics, and the revenue mix a funder checks first
• Med spa and aesthetics, and the revenue mix a funder checks first
• Chiropractic, read on the terms that field is underwritten on

1. 1SBA 7(a) and 504 approvals, FY2025
2. 2CMS provider certification files
3. 3NPPES provider registry
4. 4County Business Patterns 2022
5. 5BLS Occupational Employment and Wage Statistics, OEWS 2025
6. 6HRSA health professional shortage area file
7. 7Wisconsin corporate practice rules
8. 8Wisconsin Medical Examining Board
9. 9Wisconsin Dentistry Examining Board