SBA data · West Virginia
SBA lending in West Virginia
2,770 loans worth $907.5M have been approved for West Virginia projects since FY2010 - the #50 state by SBA dollars, 0.2% of the national total.
State rank
#50
by dollars approved
Approved
$907.5M
FY2010 onward
Loans
2,770
Median loan
$100,000
-44% vs national
Median 7(a) rate
6.25%
Jobs supported
26,315
Lender-reported
Source: U.S. Small Business Administration, SBA 7(a) and 504 FOIA data, as of 2026-06-30. Approvals from FY2010 onward. How we calculate this.
Who lends here
The most active SBA lenders in West Virginia
Ranked by dollars approved for projects in this state. Ranking is computed from federal data and cannot be purchased.
| # | Lender | Approved in WV | Loans | Avg loan | Share |
|---|---|---|---|---|---|
| 1 | The Huntington National Bank | $194.5M | 1,065 | $182,597 | |
| 2 | Live Oak Banking Company | $51.5M | 46 | $1,119,572 | |
| 3 | MVB Bank, Inc. | $44.2M | 152 | $290,995 | |
| 4 | GBank | $39.5M | 13 | $3,036,415 | |
| 5 | Community Trust Bank, Inc. | $33.6M | 86 | $390,493 | |
| 6 | Regional Development Funding Corporation | $32.0M | 37 | $864,162 | |
| 7 | Clear Mountain Bank, Inc. | $30.6M | 156 | $196,127 | |
| 8 | First Western SBLC, LLC | $28.9M | 11 | $2,626,182 | |
| 9 | Truist Bank | $27.7M | 152 | $182,188 | |
| 10 | Peoples Bank | $23.3M | 87 | $268,355 | |
| 11 | Citizens Bank of West Virginia, Inc | $16.8M | 73 | $230,114 | |
| 12 | Business Finance Group, Inc. | $15.8M | 24 | $656,542 |
By sector in West Virginia
- Restaurants & Hotels398 · $260.4M
- Other Services321 · $102.2M
- Health Care306 · $76.2M
- Professional Services204 · $69.5M
- Retail224 · $67.6M
- Construction328 · $65.9M
- Wholesale74 · $27.9M
- Real Estate55 · $25.4M
- Arts & Recreation105 · $22.8M
- Administrative & Waste109 · $21.6M
- Transportation175 · $19.2M
- Manufacturing57 · $15.9M
Most-financed industries
Approvals by fiscal year
Gross approval dollars in West Virginia. The final bar is a partial fiscal year.
Loan sizes in West Virginia
- Under $50K29%
- $50K - $150K29%
- $150K - $350K20%
- $350K - $1M14%
- $1M - $2M4%
- Over $2M3%
SBA lending in West Virginia: common questions
- How many SBA loans are approved in West Virginia?
- 2,770 SBA 7(a) and 504 loans totalling $907,547,700 have been approved for projects in West Virginia since fiscal year 2010, ranking it #50 among states and territories by dollars approved - 0.2% of all SBA lending nationally.
- Which lenders make the most SBA loans in West Virginia?
- By dollars approved in West Virginia, the most active lenders are The Huntington National Bank, Live Oak Banking Company, MVB Bank, Inc., GBank, Community Trust Bank, Inc.. Volume is not a recommendation - a lender's fit depends on your industry, loan size, and credit profile.
- What is the typical SBA loan size in West Virginia?
- The median gross approval in West Virginia is $100,000, 44% below the national median of $180,000. Half of all loans in the state fall between $20,000 and $800,000.
- Do I need to use a lender based in West Virginia?
- No. SBA lenders can and routinely do lend across state lines, and several of the largest national 7(a) lenders have no branch presence at all. The lenders listed on this page are those with the most approved dollars for projects located in West Virginia, wherever they are headquartered.
Source: U.S. Small Business Administration, SBA 7(a) and 504 FOIA data, as of 2026-06-30. Approvals from FY2010 onward. How we calculate this.
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