States › West Virginia › FY2023
FY20231 Oct 2022 – 30 Sep 2023
SBA loans in West Virginia, FY2023
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 FY2023 (1 October 2022 to 30 September 2023) SBA approved 161 loans in West Virginia: 156 under 7(a) and 5 under 504, worth $59.1M.
That is about level with FY2022, when there were 172 approvals worth $64.0M.
West Virginia accounted for 0.3% of the 63,286 approvals nationwide that year. 32 lenders had at least one approval in the state; The Huntington National Bank had the most, 84.
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 32 lenders with the most approvals to West Virginia businesses in FY2023, of 32 active.
| # | Lender | Program | Approvals | Dollars | Share of state | FY2022 | Change |
|---|---|---|---|---|---|---|---|
| 1 | The Huntington National Bank | 7(a) | 84 | $14.8M | 52.2% | 77 | +7 |
| 2 | Citizens Bank of West Virginia, Inc | 7(a) | 12 | $2.3M | 7.5% | 12 | 0 |
| 3 | Clear Mountain Bank, Inc. | 7(a) | 7 | $889K | 4.3% | 9 | -2 |
| 4 | Community Trust Bank, Inc. | 7(a) | 6 | $3.2M | 3.7% | 3 | +3 |
| 5 | BayFirst National Bank | 7(a) | 6 | $890K | 3.7% | 3 | +3 |
| 6 | Business Finance Group, Inc. | 504 | 4 | $3.7M | 2.5% | 3 | +1 |
| 7 | Potomac Bank | 7(a) | 4 | $1.6M | 2.5% | 6 | -2 |
| 8 | FNB Bank Inc | 7(a) | 4 | $1.4M | 2.5% | 2 | +2 |
| 9 | Live Oak Banking Company | 7(a) | 3 | $3.8M | 1.9% | 5 | -2 |
| 10 | Newtek Small Business Finance, Inc. | 7(a) | 3 | $1.4M | 1.9% | 4 | -1 |
| 11 | GBank | 7(a) | 2 | — | 1.2% | 1 | +1 |
| 12 | Celtic Bank Corporation | 7(a) | 2 | — | 1.2% | 0 | new |
| 13 | First Bank of the Lake | 7(a) | 2 | — | 1.2% | 0 | new |
| 14 | PNC Bank, National Association | 7(a) | 2 | — | 1.2% | 4 | -2 |
| 15 | Newtek Bank, National Association | 7(a) | 2 | — | 1.2% | 0 | new |
| 16 | Northeast Bank | 7(a) | 2 | — | 1.2% | 0 | new |
| 17 | WesBanco Bank, Inc. | 7(a) | 1 | — | 0.6% | 2 | -1 |
| 18 | Millennium Bank | 7(a) | 1 | — | 0.6% | 0 | new |
| 19 | 22nd State Bank, A Division of 22nd State Banking Company | 7(a) | 1 | — | 0.6% | 0 | new |
| 20 | Regional Development Funding Corporation | 504 | 1 | — | 0.6% | 3 | -2 |
| 21 | Incommons Bank NA | 7(a) | 1 | — | 0.6% | 0 | new |
| 22 | Peoples Bank | 7(a) | 1 | — | 0.6% | 4 | -3 |
| 23 | First Merchants Bank | 7(a) | 1 | — | 0.6% | 0 | new |
| 24 | JPMorgan Chase Bank, National Association | 7(a) | 1 | — | 0.6% | 1 | 0 |
| 25 | Wells Fargo Bank National Association | 7(a) | 1 | — | 0.6% | 0 | new |
| 26 | Freedom Bank Inc | 7(a) | 1 | — | 0.6% | 1 | 0 |
| 27 | West Union Bank | 7(a) | 1 | — | 0.6% | 0 | new |
| 28 | The First Bank and Trust Company | 7(a) | 1 | — | 0.6% | 5 | -4 |
| 29 | Pendleton Community Bank Inc | 7(a) | 1 | — | 0.6% | 1 | 0 |
| 30 | Heritage Bank Inc | 7(a) | 1 | — | 0.6% | 0 | new |
| 31 | Manufacturers and Traders Trust Company | 7(a) | 1 | — | 0.6% | 6 | -5 |
| 32 | Mountain Valley Bank National Association | 7(a) | 1 | — | 0.6% | 0 | new |
Approvals by county
| # | County | Approvals | Dollars | Share of state | FY2022 | Change |
|---|---|---|---|---|---|---|
| 1 | Monongalia County | 21 | $3.5M | 13.0% | 16 | +5 |
| 2 | Cabell County | 18 | $4.4M | 11.2% | 7 | +11 |
| 3 | Kanawha County | 16 | $13.4M | 9.9% | 20 | -4 |
| 4 | Randolph County | 13 | $2.2M | 8.1% | 10 | +3 |
| 5 | Harrison County | 11 | $2.7M | 6.8% | 14 | -3 |
| 6 | Marion County | 10 | $4.9M | 6.2% | 8 | +2 |
| 7 | Putnam County | 9 | $2.2M | 5.6% | 6 | +3 |
| 8 | Berkeley County | 9 | $4.8M | 5.6% | 9 | 0 |
| 9 | Jefferson County | 6 | $1.1M | 3.7% | 5 | +1 |
| 10 | Ohio County | 6 | $1.3M | 3.7% | 8 | -2 |
| 11 | Raleigh County | 5 | $795K | 3.1% | 6 | -1 |
| 12 | Upshur County | 5 | $809K | 3.1% | 2 | +3 |
| 13 | Marshall County | 4 | $6.9M | 2.5% | 1 | +3 |
| 14 | Wayne County | 3 | $3.1M | 1.9% | 2 | +1 |
| 15 | Greenbrier County | 3 | $1.0M | 1.9% | 4 | -1 |
| 16 | Hampshire County | 3 | $878K | 1.9% | 2 | +1 |
| 17 | Taylor County | 2 | — | 1.2% | 1 | +1 |
| 18 | Brooke County | 2 | — | 1.2% | 0 | new |
| 19 | Logan County | 2 | — | 1.2% | 1 | +1 |
| 20 | Preston County | 2 | — | 1.2% | 4 | -2 |
| 21 | Lewis County | 2 | — | 1.2% | 3 | -1 |
| 22 | Mingo County | 2 | — | 1.2% | 3 | -1 |
| 23 | Grant County | 1 | — | 0.6% | 0 | new |
| 24 | Wood County | 1 | — | 0.6% | 4 | -3 |
| 25 | Barbour County | 1 | — | 0.6% | 3 | -2 |
| 26 | Hancock County | 1 | — | 0.6% | 13 | -12 |
| 27 | Jackson County | 1 | — | 0.6% | 0 | new |
| 28 | Mineral County | 1 | — | 0.6% | 3 | -2 |
| 29 | Roane County | 1 | — | 0.6% | 0 | new |
FY2023 against FY2022
| West Virginia | FY2023 | FY2022 |
|---|---|---|
| 7(a) approvals | 156 | 166 |
| 7(a) dollars | $53.8M | $59.4M |
| Median 7(a) approval | $100K | $110K |
| 504 approvals | 5 | 6 |
| 504 dollars | $5.4M | $4.6M |
| Jobs supported, as reported | 1,282 | 1,502 |
Questions and answers
Which lenders made the most SBA loans in West Virginia in FY2023?
The Huntington National Bank (84), Citizens Bank of West Virginia, Inc (12), Clear Mountain Bank, Inc. (7), Community Trust Bank, Inc. (6), BayFirst National Bank (6). 32 lenders had at least one approval.
How many SBA loans were approved in West Virginia in FY2023?
161: 156 under 7(a) worth $53.8M and 5 under 504 worth $5.4M.
Which West Virginia counties had the most SBA approvals in FY2023?
Monongalia County (21), Cabell County (18), Kanawha County (16), Randolph County (13), Harrison County (11).
When does FY2023 start and end?
The federal fiscal year 2023 runs from 1 October 2022 to 30 September 2023.
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