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County5th of 50 in West Virginia by approvalsFIPS 54079
SBA loans in Putnam County, West Virginia
7(a) and 504 approvals to businesses located in the county, set against the number of businesses there and against the state.
SBA approvals by fiscal year. The federal fiscal year runs 1 October to 30 September, so FY2025 is 1 October 2024 to 30 September 2025. *FY2026 is open: approvals to 30 Jun 2026 only.
Businesses in Putnam County, West Virginia, received 51 SBA loan approvals worth $12.8M in FY2021 to FY2025 (51 7(a), 0 504).
That is 40.9 approvals per 1,000 business establishments (1,248 establishments in 2023), above the West Virginia figure of 26.7 and close to the national 41.0.
It ranks 5th of 50 West Virginia counties with approvals. In FY2025 there were 11, down 31% on FY2024.
6 lenders had approvals here; the most active were The Huntington National Bank (43), Live Oak Banking Company (4) and GBank (1). The most common industry was building equipment contractors.
Loan status is as recorded by SBA at the data date; charge-off rates are computed on loans approved at least five fiscal years ago. Jobs supported are self-reported estimates from the SBA loan application, which SBA does not review, audit or validate. Data through 30 Jun 2026.
Lenders most active in Putnam County
By number of approvals to businesses in the county, FY2021–FY2025; 6 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | The Huntington National BankColumbus, OH | 43 | $6.8M | 84.3% | |
| 2 | Live Oak Banking CompanyWilmington, NC | 4 | $3.1M | 7.8% | |
| 3 | GBankLas Vegas, NV | 1 | — | 2.0% | |
| 4 | Northeast BankLewiston, ME | 1 | — | 2.0% | |
| 5 | Community Trust Bank, Inc.Pikeville, KY | 1 | — | 2.0% | |
| 6 | Readycap Lending, LLCBerkeley Heights, NJ | 1 | — | 2.0% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Building Equipment ContractorsNAICS 2382 | 6 | 11.8% | |
| 2 | Other Personal ServicesNAICS 8129 | 5 | 9.8% | |
| 3 | Other Professional, Scientific, and Technical ServicesNAICS 5419 | 4 | 7.8% | |
| 4 | Restaurants and Other Eating PlacesNAICS 7225 | 3 | 5.9% | |
| 5 | Other Specialty Trade ContractorsNAICS 2389 | 3 | 5.9% | |
| 6 | Legal ServicesNAICS 5411 | 3 | 5.9% | |
| 7 | Agencies, Brokerages, and Other Insurance Related ActivitiesNAICS 5242 | 3 | 5.9% | |
| 8 | Performing Arts CompaniesNAICS 7111 | 2 | 3.9% | |
| 9 | Services to Buildings and DwellingsNAICS 5617 | 2 | 3.9% | |
| 10 | Automotive Repair and MaintenanceNAICS 8111 | 2 | 3.9% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Professional, Scientific, and Technical Services | 10 | 19.6% | |
| 2 | Construction | 10 | 19.6% | |
| 3 | Other Services (except Public Administration) | 7 | 13.7% | |
| 4 | Accommodation and Food Services | 4 | 7.8% | |
| 5 | Retail Trade | 4 | 7.8% | |
| 6 | Arts, Entertainment, and Recreation | 3 | 5.9% | |
| 7 | Manufacturing | 3 | 5.9% | |
| 8 | Finance and Insurance | 3 | 5.9% |
Approvals by fiscal year
| Fiscal year | 7(a) approvals | 7(a) dollars | Median 7(a) | 504 approvals | 504 dollars | All approvals | Jobs supported, as reported |
|---|---|---|---|---|---|---|---|
| FY2026* | 3 | $939K | $300K | 0 | — | 3 | 68 |
| FY2025 | 11 | $1.7M | $93K | 0 | — | 11 | 79 |
| FY2024 | 16 | $5.5M | $48K | 0 | — | 16 | 45 |
| FY2023 | 9 | $2.2M | $50K | 0 | — | 9 | 78 |
| FY2022 | 6 | $2.0M | $177K | 0 | — | 6 | 122 |
| FY2021 | 9 | $1.4M | $50K | 0 | — | 9 | 27 |
| FY2020 | 5 | $504K | $64K | 0 | — | 5 | 12 |
| FY2019 | 2 | — | — | 0 | — | 2 | 14 |
| FY2018 | 5 | $529K | $125K | 0 | — | 5 | 14 |
| FY2017 | 5 | $665K | $35K | 1 | — | 6 | 141 |
| FY2016 | 5 | $220K | $17K | 0 | — | 5 | 23 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 23 approvals.
Against West Virginia and the country
| FY2021–FY2025 | Putnam County | West Virginia | United States |
|---|---|---|---|
| Approvals | 51 | 958 | 342,825 |
| Approvals per 1,000 establishments | 40.9 | 26.7 | 41.0 |
| Median 7(a) approval | $66K | $115K | $190K |
| Median 504 approval | — | $438K | $657K |
| Average approval | $250K | $398K | $573K |
| 504 share of approvals | 0.0% | 2.4% | 11.0% |
| Jobs supported per approval, as reported | 6.9 | 9.1 | 10.5 |
| Share of state approvals | 5.3% | 100.0% | — |
Approval sizes
- $50,000 or less45.1%23
- $50,001 to $150,00025.5%13
- $150,001 to $350,00015.7%8
- $350,001 to $1 million5.9%3
- $1 million to $2 million5.9%3
- Over $2 million2.0%1
Age of the businesses
- Existing, more than 2 years old62.7%32
- New business, 2 years or less11.8%6
- Startup, loan funds will open the business19.6%10
- Change of ownership5.9%3
Questions and answers
Which lenders make the most SBA loans in Putnam County?
By approvals in FY2021 to FY2025: The Huntington National Bank (43), Live Oak Banking Company (4), GBank (1), Northeast Bank (1), Community Trust Bank, Inc. (1). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Putnam County?
The median 7(a) approval was $66K; the West Virginia 7(a) median was $115K.
Which industries get the most SBA loans in Putnam County?
Building Equipment Contractors (6); Other Personal Services (5); Other Professional, Scientific, and Technical Services (4); Restaurants and Other Eating Places (3); Other Specialty Trade Contractors (3).
Is SBA lending in Putnam County rising?
Approvals in the three latest complete fiscal years total 36, against 20 in the three before: rising (+80%).
How does Putnam County compare with the rest of West Virginia?
40.9 approvals per 1,000 establishments against 26.7 statewide, and 51 of the state's 958 approvals.
About these figures
Figures are totals of the Small Business Administration's 7(a) and 504 FOIA loan files, data through 30 Jun 2026. SBA updates the files quarterly. Counts are loan approvals, including approvals later cancelled; the five-year window is FY2021–FY2025, the five latest complete fiscal years. Charge-off rates use only loans approved in FY2010–FY2021, at least five fiscal years ago, and count disbursed loans SBA records as charged off. Loans are listed under the lender they are assigned to today. Establishment counts are from the Census Bureau's County Business Patterns 2023, which leaves out most farms, government and businesses without employees. Dollar figures behind fewer than three approvals are not shown, and no borrower is named anywhere on this site.Methodology · Report an error