States › West Virginia › FY2022
FY20221 Oct 2021 – 30 Sep 2022
SBA loans in West Virginia, FY2022
That fiscal year's approvals by lender and by county.
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.
In FY2022 (1 October 2021 to 30 September 2022) SBA approved 172 loans in West Virginia: 166 under 7(a) and 6 under 504, worth $64.0M.
That is down 12% on FY2021, when there were 196 approvals worth $90.1M.
West Virginia accounted for 0.3% of the 56,932 approvals nationwide that year. 34 lenders had at least one approval in the state; The Huntington National Bank had the most, 77.
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.
Approvals by lender
The 34 lenders with the most approvals to West Virginia businesses in FY2022, of 34 active.
| # | Lender | Program | Approvals | Dollars | Share of state | FY2021 | Change |
|---|---|---|---|---|---|---|---|
| 1 | The Huntington National Bank | 7(a) | 77 | $19.3M | 44.8% | 75 | +2 |
| 2 | Citizens Bank of West Virginia, Inc | 7(a) | 12 | $1.9M | 7.0% | 8 | +4 |
| 3 | Clear Mountain Bank, Inc. | 7(a) | 9 | $2.7M | 5.2% | 31 | -22 |
| 4 | Potomac Bank | 7(a) | 6 | $2.7M | 3.5% | 2 | +4 |
| 5 | Manufacturers and Traders Trust Company | 7(a) | 6 | $1.1M | 3.5% | 4 | +2 |
| 6 | The First Bank and Trust Company | 7(a) | 5 | $2.0M | 2.9% | 0 | new |
| 7 | Live Oak Banking Company | 7(a) | 5 | $1.9M | 2.9% | 6 | -1 |
| 8 | Peoples Bank | 7(a) | 4 | $1.3M | 2.3% | 13 | -9 |
| 9 | Newtek Small Business Finance, Inc. | 7(a) | 4 | $1.1M | 2.3% | 1 | +3 |
| 10 | PNC Bank, National Association | 7(a) | 4 | $933K | 2.3% | 1 | +3 |
| 11 | Business Finance Group, Inc. | 504 | 3 | $2.6M | 1.7% | 2 | +1 |
| 12 | Regional Development Funding Corporation | 504 | 3 | $2.0M | 1.7% | 1 | +2 |
| 13 | Gulf Coast Bank and Trust Company | 7(a) | 3 | $1.6M | 1.7% | 0 | new |
| 14 | Community Trust Bank, Inc. | 7(a) | 3 | $451K | 1.7% | 5 | -2 |
| 15 | BayFirst National Bank | 7(a) | 3 | $370K | 1.7% | 0 | new |
| 16 | First-Citizens Bank & Trust Company | 7(a) | 2 | — | 1.2% | 0 | new |
| 17 | Readycap Lending, LLC | 7(a) | 2 | — | 1.2% | 0 | new |
| 18 | WesBanco Bank, Inc. | 7(a) | 2 | — | 1.2% | 3 | -1 |
| 19 | Northwest Bank | 7(a) | 2 | — | 1.2% | 0 | new |
| 20 | Fifth Third Bank | 7(a) | 2 | — | 1.2% | 3 | -1 |
| 21 | FNB Bank Inc | 7(a) | 2 | — | 1.2% | 0 | new |
| 22 | US Metro Bank | 7(a) | 1 | — | 0.6% | 0 | new |
| 23 | GBank | 7(a) | 1 | — | 0.6% | 2 | -1 |
| 24 | Stearns Bank National Association | 7(a) | 1 | — | 0.6% | 0 | new |
| 25 | Fountainhead SBF LLC | 7(a) | 1 | — | 0.6% | 0 | new |
| 26 | First Western SBLC, LLC | 7(a) | 1 | — | 0.6% | 4 | -3 |
| 27 | PCB Bank | 7(a) | 1 | — | 0.6% | 0 | new |
| 28 | Colony Bank | 7(a) | 1 | — | 0.6% | 0 | new |
| 29 | Pendleton Community Bank Inc | 7(a) | 1 | — | 0.6% | 7 | -6 |
| 30 | JPMorgan Chase Bank, National Association | 7(a) | 1 | — | 0.6% | 0 | new |
| 31 | Craft Bank | 7(a) | 1 | — | 0.6% | 0 | new |
| 32 | Five Star Bank | 7(a) | 1 | — | 0.6% | 0 | new |
| 33 | The Grant County Bank | 7(a) | 1 | — | 0.6% | 1 | 0 |
| 34 | Freedom Bank Inc | 7(a) | 1 | — | 0.6% | 3 | -2 |
Approvals by county
| # | County | Approvals | Dollars | Share of state | FY2021 | Change |
|---|---|---|---|---|---|---|
| 1 | Kanawha County | 20 | $12.4M | 11.6% | 11 | +9 |
| 2 | Monongalia County | 16 | $5.9M | 9.3% | 29 | -13 |
| 3 | Harrison County | 14 | $2.0M | 8.1% | 20 | -6 |
| 4 | Hancock County | 13 | $4.5M | 7.6% | 4 | +9 |
| 5 | Randolph County | 10 | $1.9M | 5.8% | 8 | +2 |
| 6 | Berkeley County | 9 | $5.1M | 5.2% | 3 | +6 |
| 7 | Marion County | 8 | $729K | 4.7% | 13 | -5 |
| 8 | Ohio County | 8 | $1.8M | 4.7% | 4 | +4 |
| 9 | Cabell County | 7 | $2.5M | 4.1% | 12 | -5 |
| 10 | Putnam County | 6 | $2.0M | 3.5% | 9 | -3 |
| 11 | Raleigh County | 6 | $2.8M | 3.5% | 2 | +4 |
| 12 | Jefferson County | 5 | $1.1M | 2.9% | 5 | 0 |
| 13 | Morgan County | 5 | $1.2M | 2.9% | 4 | +1 |
| 14 | Wood County | 4 | $3.8M | 2.3% | 16 | -12 |
| 15 | Greenbrier County | 4 | $1.2M | 2.3% | 1 | +3 |
| 16 | Preston County | 4 | $419K | 2.3% | 9 | -5 |
| 17 | Barbour County | 3 | $573K | 1.7% | 1 | +2 |
| 18 | Mineral County | 3 | $160K | 1.7% | 2 | +1 |
| 19 | Lewis County | 3 | $813K | 1.7% | 6 | -3 |
| 20 | Mingo County | 3 | $451K | 1.7% | 3 | 0 |
| 21 | Fayette County | 2 | — | 1.2% | 2 | 0 |
| 22 | Braxton County | 2 | — | 1.2% | 1 | +1 |
| 23 | Wayne County | 2 | — | 1.2% | 0 | new |
| 24 | Wyoming County | 2 | — | 1.2% | 0 | new |
| 25 | Hampshire County | 2 | — | 1.2% | 1 | +1 |
| 26 | Upshur County | 2 | — | 1.2% | 3 | -1 |
| 27 | Wetzel County | 2 | — | 1.2% | 0 | new |
| 28 | Pocahontas County | 1 | — | 0.6% | 1 | 0 |
| 29 | Marshall County | 1 | — | 0.6% | 2 | -1 |
| 30 | Mercer County | 1 | — | 0.6% | 2 | -1 |
| 31 | Hardy County | 1 | — | 0.6% | 2 | -1 |
| 32 | Taylor County | 1 | — | 0.6% | 3 | -2 |
| 33 | Logan County | 1 | — | 0.6% | 0 | new |
| 34 | Mason County | 1 | — | 0.6% | 0 | new |
FY2022 against FY2021
| West Virginia | FY2022 | FY2021 |
|---|---|---|
| 7(a) approvals | 166 | 192 |
| 7(a) dollars | $59.4M | $88.0M |
| Median 7(a) approval | $110K | $156K |
| 504 approvals | 6 | 4 |
| 504 dollars | $4.6M | $2.1M |
| Jobs supported, as reported | 1,502 | 2,131 |
Questions and answers
Which lenders made the most SBA loans in West Virginia in FY2022?
The Huntington National Bank (77), Citizens Bank of West Virginia, Inc (12), Clear Mountain Bank, Inc. (9), Potomac Bank (6), Manufacturers and Traders Trust Company (6). 34 lenders had at least one approval.
How many SBA loans were approved in West Virginia in FY2022?
172: 166 under 7(a) worth $59.4M and 6 under 504 worth $4.6M.
Which West Virginia counties had the most SBA approvals in FY2022?
Kanawha County (20), Monongalia County (16), Harrison County (14), Hancock County (13), Randolph County (10).
When does FY2022 start and end?
The federal fiscal year 2022 runs from 1 October 2021 to 30 September 2022.
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. Dollar figures behind fewer than three approvals are not shown, and no borrower is named anywhere on this site.Methodology · Report an error