West Virginia SBA lending, from federal loan records
SBA Lenders Actively Funding Businesses in West Virginia
Since FY2020, 90 lenders have funded 1,109 SBA loans worth $439M for businesses in West Virginia. Borrowers reported 9,624 jobs supported by those loans. Below is who actually writes them, how big they run, and which West Virginia businesses get funded.
Most active SBA lenders in West Virginia
Ranked by loans funded for West Virginia projects since FY2020, not by advertising budget. A lender headquartered elsewhere that funds heavily in West Virginia beats a local name that rarely writes SBA loans.
| Lender | Program | WV loans since FY2020 | Since FY2025 | Median loan | Median rate |
|---|---|---|---|---|---|
| The Huntington National Bank | 7(a) | 445 | 99 | $50K | 9.5% |
| Clear Mountain Bank, Inc. | 7(a) | 109 | 2 | $120K | 4.25% |
| Citizens Bank of West Virginia, Inc | 7(a) | 46 | 6 | $169K | 6.62% |
| Peoples Bank | 7(a) | 37 | 7 | $245K | 5.75% |
| First Community Bank | 7(a) | 37 | 24 | $126K | 7.75% |
| Community Trust Bank, Inc. | 7(a) | 34 | 14 | $178K | 8% |
| Manufacturers and Traders Trust Company | 7(a) | 29 | 12 | $50K | 10% |
| Live Oak Banking Company | 7(a) | 25 | 6 | $1.0M | 6.5% |
| Potomac Bank | 7(a) | 22 | 7 | $263K | 9.5% |
| BayFirst National Bank | 7(a) | 21 | 4 | $150K | 11.75% |
| Pendleton Community Bank Inc | 7(a) | 19 | 2 | $100K | 7.14% |
| Readycap Lending, LLC | 7(a) | 18 | 11 | $160K | 10.5% |
| Newtek Bank, National Association | 7(a) | 18 | 14 | $213K | 10.5% |
| Business Finance Group, Inc. | 504 (CDC) | 13 | 5 | $343K | n/a |
| Celtic Bank Corporation | 7(a) | 12 | 7 | $119K | 10.25% |
| GBank | 7(a) | 11 | 2 | $2.6M | 8.5% |
| Regional Development Funding Corporation | 504 (CDC) | 11 | 2 | $758K | n/a |
| MVB Bank, Inc. | 7(a) | 10 | 0 | $87K | 4.89% |
| First Western SBLC, LLC | 7(a) | 10 | 0 | $2.5M | 6% |
| Northeast Bank | 7(a) | 10 | 6 | $137K | 10.75% |
| WesBanco Bank, Inc. | 7(a) | 9 | 1 | $415K | 5.5% |
| The Citizens Bank of Weston | 7(a) | 9 | 8 | $150K | 8% |
| Woodlands Community Lenders, Inc. | 7(a) | 9 | 9 | $105K | 8.25% |
| JPMorgan Chase Bank, National Association | 7(a) | 8 | 0 | $205K | 8.77% |
| United Midwest Savings Bank National Association | 7(a) | 8 | 1 | $173K | 7.75% |
504 loans are written by Certified Development Companies alongside a bank first mortgage. The 504 file reports no interest rate, so CDC rows show none.
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Start your funding profile →How big West Virginia SBA loans run
Share of West Virginia 7(a) loans by approval size, next to the national split. If your ask sits in a common band, it is the kind of loan lenders here fund every week.
| 7(a) loan size | WV | US |
|---|---|---|
| Under $150K | 53.7% | 40.4% |
| $150K to $500K | 28.3% | 31.9% |
| $500K to $1M | 8.2% | 12.9% |
| $1M and up | 9.8% | 14.9% |
Who gets funded in West Virginia
Business age on West Virginia 7(a) loans. 8.4% funded a change of ownership, against 11.1% nationally. Buying a business? See the acquisition lender shortlist. Starting one? See startup-friendly lenders.
| Business stage | WV | US |
|---|---|---|
| Established, more than 2 years | 56.8% | 55.2% |
| New, 2 years or less | 15.8% | 16.9% |
| Startup, loan opens the business | 19% | 16.8% |
| Change of ownership (buying a business) | 8.4% | 11.1% |
Industries West Virginia SBA lenders fund most
Share of all West Virginia SBA loans by industry, and how that compares with the national mix.
| Industry | WV loans | Share | Compared with US |
|---|---|---|---|
| Restaurants and hotels | 155 | 14% | in line with national |
| Construction | 148 | 13.3% | in line with national |
| Personal and repair services | 140 | 12.6% | 1.3x the national share |
| Healthcare | 123 | 11.1% | in line with national |
| Retail | 110 | 9.9% | 0.8x the national share |
| Professional services | 81 | 7.3% | 0.8x the national share |
| Transportation and trucking | 79 | 7.1% | 1.3x the national share |
| Business support services | 54 | 4.9% | in line with national |
The most common specific business types funded in West Virginia: full-service restaurants (62), hotels (except casino hotels) and motels (36), limited-service restaurants (32), plumbing, heating, and air-conditioning contractors (31), general freight trucking, local (28), residential remodelers (24).
Where in West Virginia the loans go
| County | SBA loans since FY2020 | Share of state |
|---|---|---|
| Monongalia | 172 | 16% |
| Kanawha | 111 | 10% |
| Harrison | 83 | 7% |
| Cabell | 72 | 6% |
| Marion | 57 | 5% |
| Putnam | 54 | 5% |
| Berkeley | 45 | 4% |
| Randolph | 42 | 4% |
7(a) or 504 in West Virginia
3% of West Virginia SBA loans are 504 loans, against 12% nationally. A 504 loan funds owner-occupied real estate or major equipment, with a median of $425K here. A 7(a) loan covers almost anything else, including working capital and buying a business. The busiest 504 lenders in West Virginia:
- Business Finance Group, Inc.: 13 504 loans, median $343K
- Regional Development Funding Corporation: 11 504 loans, median $758K
West Virginia SBA lending by year
| Fiscal year | 7(a) loans | 504 loans | Dollars |
|---|---|---|---|
| FY2020 | 162 | 3 | $47M |
| FY2021 | 171 | 4 | $87M |
| FY2022 | 143 | 4 | $53M |
| FY2023 | 148 | 5 | $55M |
| FY2024 | 192 | 4 | $87M |
| FY2025 | 173 | 3 | $68M |
| FY2026 (through June 30, 2026) | 92 | 5 | $43M |
The SBA fiscal year runs October through September.
Common questions
Who is the most active SBA lender in West Virginia?
By funded loans since FY2020, The Huntington National Bank leads West Virginia with 445 loans.
How big is a typical SBA loan in West Virginia?
The median 7(a) loan in West Virginia is $120K, and the middle half runs from $50K to $350K. The median 504 loan is $425K. Nationally the 7(a) median is $200K.
What interest rate do West Virginia SBA borrowers get?
The median starting rate on West Virginia 7(a) loans since FY2020 is 8.25%, against 9.25% nationally. 79% of those loans carry a variable rate, which moves with the prime rate.
Can a startup get an SBA loan in West Virginia?
Yes. 35% of West Virginia 7(a) loans with a reported business age went to startups or businesses two years old or younger, against 34% nationally. Lenders still expect a solid plan, owner equity and usually collateral.
Sources and limits. Derived from U.S. Small Business Administration 7(a) and 504 FOIA loan-level records, FY2020 through June 30, 2026, for projects located in West Virginia. Cancelled approvals are excluded. Jobs supported are as reported by borrowers. Figures describe past lending activity only and are not offers, quotes, or qualification decisions. Big Brain Funding is not a lender and is not affiliated with any lender listed.