Top West Virginia SBA Lenders | SBA Loans in WV

Last annual update: Apr 15, 2024

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A few West Virginia-based banks were among the largest lenders to “The Mountain State” businesses through the U.S. Small Business Administration’s 7(a) program. Whether your business is a hotel, restaurant, auto repair, medical practice, veterinary or pharmacy, your mission is to exceed your customer expectations. So, if you’re ready to step up your business to the next level, here are the top SBA Lenders in West Virginia:

Top SBA lenders in West Virginia

RankBankBank HQs# of LoansAvg Interest Avg Loan
1Huntington BankCOLUMBUS, OH6910.4% $258,772
2Citizens Bank of West VirginiaELKINS, WV79.3% $182,800
3Clear Mountain BankBRUCETON MILLS, WV68.9% $146,017
4Community Trust BankPIKEVILLE, KY59.0% $626,000
5M&TBUFFALO, NY512.3% $111,400
6BayFirst National BankSaint Petersburg, FL412.9% $143,750
7Pendleton Community BankFRANKLIN, WV48.8% $1,051,250
8Bank of Charles TownCHARLES TOWN, WV310.8% $439,333
9Noah BankMiami, FL312.6% $107,667
10Newtek BankMiami, FL312.6% $107,667
11FNB BankROMNEY, WV39.5% $292,600

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Top industries receiving SBA loans in West Virginia

RankIndustry (NAICS Description)# of LoansAvg Interest Avg Loan
1Full-Service Restaurants610.6% $134,083
2Hotels (except Casino Hotels) and Motels59.5% $1,899,200
3Commercial and Industrial Machinery and Equipment (except Automotive a410.4% $900,000
4General Automotive Repair411.7% $41,300
5Offices of Chiropractors411.5% $178,250
6Site Preparation Contractors410.2% $47,950
7All Other Professional, Scientific, and Technical Services310.2% $662,033
8Building Inspection Services310.5% $18,333
9Car Washes39.2% $1,305,000
10General Freight Trucking, Long Distance, Truckload39.4% $72,633
11New Single-Family Housing Construction (except Operative Builders)39.5% $131,200
12Other Personal Care Services310.6% $107,967
13Plumbing, Heating, and Air-Conditioning Contractors310.4% $71,667

SBA loans – West Virginia

A note about these West Virginia SBA lenders – People frequently ask us if one of the banks above is 1) on the West Virginia preferred lender list 2) an approved lender in West Virginia, or 3) participating in the West Virginia SBA Express lending program. All these questions revolve around whether a given SBA bank makes small business SBA loans in West Virginia and can they process SBA loans quickly. The answer is yes, of course. These are not the small banks that only make a few SBA loans a year and do not understand the SBA 7(a) loan program. These are the banks that have made the most SBA loans in West Virginia. We analyze thousands of SBA loans each year and rank lenders based on recent activity. We would be remiss if we did not mention that although many banks will only lend in certain geographies, there are a handful of extremely aggressive nationwide SBA lenders who will lend anywhere. These lenders understand the SBA program as well as anyone and move very quickly, so we recommend not limiting your search to your home state. If you utilize our lender match tool, we can find you suitable SBA banks based on your geography, industry, and company and size at no cost or obligation to you to save you valuable time.

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