State lending data
SBA lending in West Virginia
605 SBA 7(a) loans went to businesses in West Virginia recently, at a median of $110,000. The lenders that made them, what they charged, and how the state is trending.
605 SBA 7(a) loans went to businesses in West Virginia in the most recent fiscal years, at a median of $110,000. The most active lender in the state was The Huntington National Bank, with 278 loans. Approvals are down 16.0% on the year.
SBA lending in West Virginia, by the numbers
Every figure here is computed from SBA 7(a) loan-level FOIA data released 2026-06-30 — loans actually approved to businesses in West Virginia, not advertised ranges.
| Measure | West Virginia | National |
|---|---|---|
| Loans approved | 605 | 214,102 |
| Total approved | $232.4 million | $104.1 billion |
| Median loan | $110,000 | $150,000 |
| 25th – 75th percentile | $47,850 – $300,000 | $50,000 – $500,000 |
| Median term | 10 years | 10 years |
| Median initial rate | 9.95% | 10.25% |
| Share to startups | 35.4% | 33.6% |
| Charge-off rate, FY2010–19 | 6.3% | 7.1% |
| Jobs supported | 5,325 | 2,142,602 |
| Counties with recorded lending | 50 | — |
| Lenders active in the state | 60 | — |
Is SBA lending in West Virginia growing or shrinking?
Shrinking, along with almost every other state. Comparing December 2025 to June 2026 with December 2024 to June 2025, the same months a year earlier, 7(a) approvals to businesses in West Virginia went from 106 to 89 loans, down 16.0% — while the dollars approved went from $43.5 million to $38.6 million, down 11.2%. The average approval rose from $410,225 to $433,993, so the change is weighted toward larger loans.
That puts West Virginia mid-table — 15th of 51 for year-on-year change, against a national decline of 21.0%.
| Fiscal year | Loans in West Virginia | Loans nationally | State share |
|---|---|---|---|
| FY2023 | 148 | 51,747 | 0.3% |
| FY2024 | 192 | 62,618 | 0.3% |
| FY2025 | 173 | 64,096 | 0.3% |
| FY2026 (part year) | 92 | 35,641 | 0.3% |
Which lenders actually fund businesses in West Virginia
Ranked by loans approved inside West Virginia. The median, startup share and rate columns describe each lender's own West Virginia loans, not its national averages — the same bank often writes very different business from one state to the next.
| Lender | Loans | Median loan | Startup share | Median rate |
|---|---|---|---|---|
| The Huntington National Bank | 278 | $50,000 | 32% | 10.32% |
| First Community Bank | 37 | $125,800 | 76% | 7.75% |
| Community Trust Bank, Inc | 26 | $177,500 | 15% | 8.25% |
| Citizens Bank of West Virginia, Inc | 21 | $185,000 | 57% | 9.25% |
| Manufacturers and Traders Trust Company | 19 | $30,000 | 26% | 11.74% |
| Clear Mountain Bank, Inc | 18 | $63,000 | 50% | 8.70% |
| Newtek Bank | 18 | $212,500 | 11% | 10.50% |
| BayFirst National Bank | 16 | $150,000 | 0% | 12.25% |
| Readycap Lending, LLC | 15 | $150,000 | 0% | 11.25% |
What stands out about West Virginia
Reading the state's own figures against the national picture:
- Loans here run smaller than average. The median of $110,000 is 27% below the $150,000 national median. Smaller loans usually price higher under the SBA spread caps, though that has not happened here: the median rate in this market is 9.95% against 10.25% nationally.
- Startup share is close to average, at 35.4% against 33.6% nationally.
Who borrows in West Virginia
The industry mix of SBA borrowers here, led by construction.
| Sector | Loans | Share | Median loan | To startups |
|---|---|---|---|---|
| Construction | 85 | 14.0% | $100,000 | 14% |
| Personal Services | 78 | 12.9% | $82,500 | 41% |
| Restaurants and Hotels | 75 | 12.4% | $171,900 | 56% |
| Healthcare | 73 | 12.1% | $120,000 | 42% |
| Retail | 63 | 10.4% | $125,000 | 40% |
| Professional Services | 39 | 6.4% | $125,000 | 26% |
| Trucking | 36 | 6.0% | $56,500 | 36% |
| Arts and Recreation | 30 | 5.0% | $183,100 | 63% |
| Manufacturing | 28 | 4.6% | $62,500 | 36% |
| Admin Services | 27 | 4.5% | $150,000 | 18% |
Where the money goes in West Virginia
SBA lending is more concentrated than state totals suggest, and Monongalia County alone accounts for 13% of the state's loans.
| County | Loans | Median loan | Total approved |
|---|---|---|---|
| Monongalia County | 76 | $64,000 | $21.8 million |
| Kanawha County | 64 | $100,000 | $26.8 million |
| Cabell County | 47 | $115,000 | $20.4 million |
| Putnam County | 37 | $57,000 | $10.1 million |
| Harrison County | 36 | $65,000 | $6.3 million |
| Marion County | 28 | $57,250 | $7.6 million |
| Berkeley County | 27 | $225,000 | $20.2 million |
SBA 504 in West Virginia
7(a) is the general-purpose program. 504 is the one for buying the building or the heavy equipment, at a long fixed rate — a different program with its own lenders, called Certified Development Companies.
| Measure | West Virginia 504 | National 504 |
|---|---|---|
| Projects approved | 17 | 22,192 |
| Median CDC share | $456,000 | $730,000 |
| Median total project | $1,083,500 | $1,642,000 |
| Median term | 25 years | 25 years |
- Which CDCs operate here, and on what terms: SBA 504 in West Virginia
- How the two programs differ: SBA 504 loans and SBA 7(a) loans
How to use this page
- Start from the lender table, not a search engine. Shortlist three whose median loan in West Virginia is near what you need. Size match beats brand.
- Follow your industry link in the sector table for the lenders that fund your kind of business in this state specifically.
- Then your county, if it is listed, for the local picture.
- Check the payment before you apply with the affordability calculator — lenders decline on cash flow more than on anything else.
- Filter the whole lender file yourself in the lender finder if you want to combine state, industry, loan size and business age at once.
Other states
- States of comparable lending volume: Montana, Hawaii, Delaware, Vermont, Rhode Island, South Dakota, California, Florida
Questions people actually ask
How many SBA loans are approved in West Virginia each year?
605 SBA 7(a) loans were approved to businesses in West Virginia across fiscal years 2023 to 2026, using data released June 2026, worth $232.4 million in total. Over the most recent comparable months the number of approvals ran down 16.0% year on year, while the dollars approved ran down 11.2%.
Which bank approves the most SBA loans in West Virginia?
The Huntington National Bank, with 278 loans approved to businesses in the state and a median loan of $50,000. That makes it the most active, not necessarily the best fit — a lender whose median is far from your number is usually the wrong call.
Do I have to use a lender based in West Virginia?
No. SBA lenders routinely lend across state lines and several of the largest are non-bank lenders with no branches at all. What the state data tells you is which institutions are already comfortable with businesses like yours here.