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County7th of 50 in West Virginia by approvalsFIPS 54083
SBA loans in Randolph 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.
SBA approved 41 loans to businesses in Randolph County, West Virginia, in FY2021 to FY2025, worth $8.8M: 40 under 7(a) and 1 under 504.
That is 63.1 approvals per 1,000 business establishments (650 establishments in 2023), above the West Virginia figure of 26.7 and above the national 41.0.
It ranks 7th of 50 West Virginia counties with approvals. In FY2025 there were 8.
6 lenders had approvals here; the most active were Citizens Bank of West Virginia, Inc (19), The Huntington National Bank (12) and Woodlands Community Lenders, Inc. (6). The most common industry was general freight trucking.
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 Randolph County
By number of approvals to businesses in the county, FY2021–FY2025; 6 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Citizens Bank of West Virginia, IncElkins, WV | 19 | $4.1M | 46.3% | |
| 2 | The Huntington National BankColumbus, OH | 12 | $3.2M | 29.3% | |
| 3 | Woodlands Community Lenders, Inc.Elkins, WV | 6 | $444K | 14.6% | |
| 4 | Mountain Valley Bank National AssociationElkins, WV | 2 | — | 4.9% | |
| 5 | Regional Development Funding CorporationPittsburgh, PA · CDC | 1 | — | 2.4% | |
| 6 | Clear Mountain Bank, Inc.Bruceton Mills, WV | 1 | — | 2.4% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | General Freight TruckingNAICS 4841 | 6 | 14.6% | |
| 2 | Personal Care ServicesNAICS 8121 | 5 | 12.2% | |
| 3 | Child Day Care ServicesNAICS 6244 | 3 | 7.3% | |
| 4 | Other Specialty Trade ContractorsNAICS 2389 | 3 | 7.3% | |
| 5 | Restaurants and Other Eating PlacesNAICS 7225 | 3 | 7.3% | |
| 6 | LoggingNAICS 1133 | 2 | 4.9% | |
| 7 | Miscellaneous Durable Goods Merchant WholesalersNAICS 4239 | 2 | 4.9% | |
| 8 | Grocery StoresNAICS 4451 | 2 | 4.9% | |
| 9 | Couriers and Express Delivery ServicesNAICS 4921 | 1 | 2.4% | |
| 10 | Household and Institutional Furniture and Kitchen Cabinet ManufacturingNAICS 3371 | 1 | 2.4% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Transportation and Warehousing | 7 | 17.1% | |
| 2 | Other Services (except Public Administration) | 7 | 17.1% | |
| 3 | Health Care and Social Assistance | 5 | 12.2% | |
| 4 | Accommodation and Food Services | 5 | 12.2% | |
| 5 | Construction | 4 | 9.8% | |
| 6 | Retail Trade | 4 | 9.8% | |
| 7 | Manufacturing | 2 | 4.9% | |
| 8 | Agriculture, Forestry, Fishing and Hunting | 2 | 4.9% |
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* | 2 | — | — | 0 | — | 2 | 30 |
| FY2025 | 8 | $844K | $75K | 0 | — | 8 | 47 |
| FY2024 | 2 | — | — | 0 | — | 2 | 3 |
| FY2023 | 13 | $2.2M | $84K | 0 | — | 13 | 70 |
| FY2022 | 9 | $1.1M | $90K | 1 | — | 10 | 28 |
| FY2021 | 8 | $3.4M | $191K | 0 | — | 8 | 52 |
| FY2020 | 4 | $802K | $25K | 0 | — | 4 | 26 |
| FY2019 | 2 | — | — | 0 | — | 2 | 5 |
| FY2018 | 8 | $959K | $92K | 0 | — | 8 | 15 |
| FY2017 | 5 | $1.2M | $200K | 0 | — | 5 | 24 |
| FY2016 | 5 | $827K | $98K | 0 | — | 5 | 12 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 24 approvals.
Against West Virginia and the country
| FY2021–FY2025 | Randolph County | West Virginia | United States |
|---|---|---|---|
| Approvals | 41 | 958 | 342,825 |
| Approvals per 1,000 establishments | 63.1 | 26.7 | 41.0 |
| Median 7(a) approval | $95K | $115K | $190K |
| Median 504 approval | — | $438K | $657K |
| Average approval | $214K | $398K | $573K |
| 504 share of approvals | 2.4% | 2.4% | 11.0% |
| Jobs supported per approval, as reported | 4.9 | 9.1 | 10.5 |
| Share of state approvals | 4.3% | 100.0% | — |
Approval sizes
- $50,000 or less39.0%16
- $50,001 to $150,00019.5%8
- $150,001 to $350,00022.0%9
- $350,001 to $1 million17.1%7
- $1 million to $2 million2.4%1
Age of the businesses
- Existing, more than 2 years old48.8%20
- New business, 2 years or less19.5%8
- Startup, loan funds will open the business29.3%12
- Change of ownership2.4%1
Questions and answers
Which lenders make the most SBA loans in Randolph County?
By approvals in FY2021 to FY2025: Citizens Bank of West Virginia, Inc (19), The Huntington National Bank (12), Woodlands Community Lenders, Inc. (6), Mountain Valley Bank National Association (2), Regional Development Funding Corporation (1). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Randolph County?
The median 7(a) approval was $95K; the West Virginia 7(a) median was $115K.
Which industries get the most SBA loans in Randolph County?
General Freight Trucking (6); Personal Care Services (5); Child Day Care Services (3); Other Specialty Trade Contractors (3); Restaurants and Other Eating Places (3).
Is SBA lending in Randolph County rising?
Approvals in the three latest complete fiscal years total 23, against 22 in the three before: broadly level (+5%).
How does Randolph County compare with the rest of West Virginia?
63.1 approvals per 1,000 establishments against 26.7 statewide, and 41 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