Farmers & Merchants State Bank
SBA lender based in Wisconsin serving 2 states and 40 industries
Is Farmers & Merchants State Bank the right SBA lender for your deal?
Farmers & Merchants State Bank has funded 124 SBA loans across 2 states and 40 industries. Their average loan size is $129K. Whether they are the right SBA lender for your deal depends on size, industry, geography, and credit profile. Historical volume is not a quote. PeerSense does not speak for Farmers & Merchants State Bank.
Farmers & Merchants State Bank is an SBA Preferred Lender (PLP), a designation the SBA grants to lenders with delegated authority to approve 7(a) loans in house, which speeds underwriting and closing. Farmers & Merchants State Bank has funded 124 SBA 7(a) loans across 2 states, averaging $129K per loan. PLP status means the lender does not have to send each file to the SBA for review, a material edge on turnaround for qualified borrowers.
- Main office
- 210 W Madison St, Waterloo, WI 53594
- Domestic offices
- 3
- Established
- 1897
- FDIC certificate
- 13242
- Website
- www.FandMStBk.com
Source: FDIC BankFind public database, checked October 1, 2026.
Top Lending States
Talk to PeerSense. The lender underwrites the file.
Talk to PeerSenseFOIA history for Farmers & Merchants State Bank
FOIA history for Farmers & Merchants State Bank: 124 SBA loans across 2 states, average size $129K. Highest volume NAICS in the tape: Limited-Service Restaurants. Highest volume state in the tape: Wisconsin. Resolved loan charge off rate: 11.4%. That is history, not a buy box and not a prediction they will fund your file. Talk to PeerSense.
Recent SBA Activity at Farmers & Merchants State Bank
Franchise lending: Farmers & Merchants State Bank has funded SBA loans for multiple franchise concepts, with the highest volume in PAPA MURPHY'S TAKE & BAKE PIZZ, MASSAGE ENVY, and Massage Envy. Lender franchise familiarity reduces underwriting friction: brands the lender already knows clear faster and re trade less.
Industry concentration: The lender's highest volume SBA industries are Limited-Service Restaurants, Ambulatory Healthcare, and Postal Service. Borrowers in these NAICS sectors typically see better terms and faster approvals.
Geographic concentration: Top markets are Wisconsin, and Idaho. Lenders typically underwrite faster in states where they already have closing comps.
Compare Farmers & Merchants State Bank to Similar SBA Lenders
Other SBA lenders headquartered in Wisconsin with similar deal size profiles. Borrowers should always compare 3 to 5 lenders before committing.
Looking for SBA Financing?
Talk to PeerSense. The lender underwrites the file. Size, industry, and location come from the public tape. PeerSense sources capital through a curated network of commercial lenders and capital sources.
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About Farmers & Merchants State Bank SBA Lending
Farmers & Merchants State Bank is an SBA lender headquartered in Wisconsin. PeerSense tracks this lender's SBA lending activity, including approval trends, geographic coverage, and industry specializations.
Farmers & Merchants State Bank serves borrowers across 2 states and 40 industry sectors with a regional lending focus. To find out whether Farmers & Merchants State Bank is a fit for your deal, Talk to PeerSense.
PeerSense maintains detailed performance data on hundreds of SBA lenders to help borrowers and brokers identify the right capital source. Rather than spending weeks researching lenders on your own, Talk to PeerSense The desk sources capital from lenders with a record in your industry and geography.
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See Related Rates by Program
PeerSense covers the full commercial capital stack. These are indicative levels direct capital sources have been pricing across these programs as of October 1, 2026.
Desk Record
150 files.See 150 files received over 12 months to October 28, 2026, with outcomes by lane from terms through approval or funding.
Originator warehouse
$100M a monthFocus $100 million a month. Will look at $10 million a month. $10 million is not the focus.
Invoice Factoring
0.5 to 3.5% / 30dB2B invoices from $20 million a month. Advance 80 to 95 percent of face.
CMBS Conduit
5.60 to 7.10%10 year Non Recourse fixed, $10 million and up, fully assumable
Bridge Loans
9.00 to 14.00%$10 million and up. Cash in about 35 percent. Name the takeout first.
Data Center
CRS to 89%$1 billion to $30 billion plus. Signed or guaranteed hyperscaler lease.
Contracted revenue sale
Up to 89%15 year lease signed or guaranteed by a hyperscaler. Size follows the lease.
Hotel Financing
SearchHotel financing is search only for $10 million and up, with cash in about 35 percent.
Private Credit
7.80 to 18.00%Non bank flexibility for commercial real estate at $10 million and up.
Indicative only, as of October 1, 2026. Not a quote, commitment or offer of credit. Final pricing, leverage and terms are determined by the lender at underwriting, after full transaction materials are reviewed. PeerSense sources the file. The lender sets pricing. What these terms mean.