States › West Virginia › FY2024
FY20241 Oct 2023 – 30 Sep 2024
SBA loans in West Virginia, FY2024
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 FY2024 (1 October 2023 to 30 September 2024) SBA approved 215 loans in West Virginia: 210 under 7(a) and 5 under 504, worth $94.3M.
That is up 34% on FY2023, when there were 161 approvals worth $59.1M.
West Virginia accounted for 0.3% of the 76,235 approvals nationwide that year. 37 lenders had at least one approval in the state; The Huntington National Bank had the most, 100.
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 37 lenders with the most approvals to West Virginia businesses in FY2024, of 37 active.
| # | Lender | Program | Approvals | Dollars | Share of state | FY2023 | Change |
|---|---|---|---|---|---|---|---|
| 1 | The Huntington National Bank | 7(a) | 100 | $19.7M | 46.5% | 84 | +16 |
| 2 | First Community Bank | 7(a) | 14 | $1.8M | 6.5% | 0 | new |
| 3 | Clear Mountain Bank, Inc. | 7(a) | 12 | $1.3M | 5.6% | 7 | +5 |
| 4 | BayFirst National Bank | 7(a) | 8 | $1.2M | 3.7% | 6 | +2 |
| 5 | Manufacturers and Traders Trust Company | 7(a) | 8 | $618K | 3.7% | 1 | +7 |
| 6 | Community Trust Bank, Inc. | 7(a) | 7 | $1.3M | 3.3% | 6 | +1 |
| 7 | Pendleton Community Bank Inc | 7(a) | 4 | $4.2M | 1.9% | 1 | +3 |
| 8 | Citizens Bank of West Virginia, Inc | 7(a) | 4 | $1.3M | 1.9% | 12 | -8 |
| 9 | Newtek Bank, National Association | 7(a) | 4 | $1.1M | 1.9% | 2 | +2 |
| 10 | Peoples Bank | 7(a) | 4 | $463K | 1.9% | 1 | +3 |
| 11 | Readycap Lending, LLC | 7(a) | 4 | $254K | 1.9% | 0 | new |
| 12 | GBank | 7(a) | 3 | $9.2M | 1.4% | 2 | +1 |
| 13 | First Western SBLC, LLC | 7(a) | 3 | $9.1M | 1.4% | 0 | new |
| 14 | Fifth Third Bank | 7(a) | 3 | $4.9M | 1.4% | 0 | new |
| 15 | United Midwest Savings Bank National Association | 7(a) | 3 | $2.1M | 1.4% | 0 | new |
| 16 | JPMorgan Chase Bank, National Association | 7(a) | 3 | $560K | 1.4% | 1 | +2 |
| 17 | SouthState Bank, National Association | 7(a) | 3 | $300K | 1.4% | 0 | new |
| 18 | Northeast Bank | 7(a) | 3 | $213K | 1.4% | 2 | +1 |
| 19 | Live Oak Banking Company | 7(a) | 2 | — | 0.9% | 3 | -1 |
| 20 | Regional Development Funding Corporation | 504 | 2 | — | 0.9% | 1 | +1 |
| 21 | Byline Bank | 7(a) | 2 | — | 0.9% | 0 | new |
| 22 | Potomac Bank | 7(a) | 2 | — | 0.9% | 4 | -2 |
| 23 | Northwest Bank | 7(a) | 2 | — | 0.9% | 0 | new |
| 24 | Celtic Bank Corporation | 7(a) | 2 | — | 0.9% | 2 | 0 |
| 25 | Colony Bank | 7(a) | 1 | — | 0.5% | 0 | new |
| 26 | Open Bank | 7(a) | 1 | — | 0.5% | 0 | new |
| 27 | The Ohio Valley Bank Company | 7(a) | 1 | — | 0.5% | 0 | new |
| 28 | WesBanco Bank, Inc. | 7(a) | 1 | — | 0.5% | 1 | 0 |
| 29 | Florida First Capital Finance Corporation, Inc. | 504 | 1 | — | 0.5% | 0 | new |
| 30 | Community Capital Development Corporation | 504 | 1 | — | 0.5% | 0 | new |
| 31 | T Bank, National Association | 7(a) | 1 | — | 0.5% | 0 | new |
| 32 | Business Finance Group, Inc. | 504 | 1 | — | 0.5% | 4 | -3 |
| 33 | Citizens Bank | 7(a) | 1 | — | 0.5% | 0 | new |
| 34 | First Bank of the Lake | 7(a) | 1 | — | 0.5% | 2 | -1 |
| 35 | The Harrison County Bank | 7(a) | 1 | — | 0.5% | 0 | new |
| 36 | HomeTrust Bank | 7(a) | 1 | — | 0.5% | 0 | new |
| 37 | West Union Bank | 7(a) | 1 | — | 0.5% | 1 | 0 |
Approvals by county
| # | County | Approvals | Dollars | Share of state | FY2023 | Change |
|---|---|---|---|---|---|---|
| 1 | Monongalia County | 24 | $10.9M | 11.2% | 21 | +3 |
| 2 | Kanawha County | 22 | $8.3M | 10.2% | 16 | +6 |
| 3 | Cabell County | 16 | $7.7M | 7.4% | 18 | -2 |
| 4 | Putnam County | 16 | $5.5M | 7.4% | 9 | +7 |
| 5 | Harrison County | 15 | $2.3M | 7.0% | 11 | +4 |
| 6 | Wood County | 13 | $16.0M | 6.0% | 1 | +12 |
| 7 | Ohio County | 9 | $6.7M | 4.2% | 6 | +3 |
| 8 | Marion County | 8 | $1.2M | 3.7% | 10 | -2 |
| 9 | Lewis County | 8 | $989K | 3.7% | 2 | +6 |
| 10 | Jefferson County | 7 | $4.8M | 3.3% | 6 | +1 |
| 11 | Raleigh County | 7 | $5.2M | 3.3% | 5 | +2 |
| 12 | Mercer County | 7 | $686K | 3.3% | 0 | new |
| 13 | Mineral County | 6 | $275K | 2.8% | 1 | +5 |
| 14 | Jackson County | 5 | $2.3M | 2.3% | 1 | +4 |
| 15 | Boone County | 4 | $366K | 1.9% | 0 | new |
| 16 | Berkeley County | 4 | $3.8M | 1.9% | 9 | -5 |
| 17 | Preston County | 4 | $295K | 1.9% | 2 | +2 |
| 18 | Fayette County | 3 | $390K | 1.4% | 0 | new |
| 19 | Braxton County | 3 | $6.6M | 1.4% | 0 | new |
| 20 | Hancock County | 3 | $5.1M | 1.4% | 1 | +2 |
| 21 | Upshur County | 3 | $858K | 1.4% | 5 | -2 |
| 22 | Mingo County | 3 | $700K | 1.4% | 2 | +1 |
| 23 | Randolph County | 2 | — | 0.9% | 13 | -11 |
| 24 | Wyoming County | 2 | — | 0.9% | 0 | new |
| 25 | Hampshire County | 2 | — | 0.9% | 3 | -1 |
| 26 | Taylor County | 2 | — | 0.9% | 2 | 0 |
| 27 | Logan County | 2 | — | 0.9% | 2 | 0 |
| 28 | Wetzel County | 2 | — | 0.9% | 0 | new |
| 29 | Monroe County | 2 | — | 0.9% | 0 | new |
| 30 | Ritchie County | 1 | — | 0.5% | 0 | new |
| 31 | Barbour County | 1 | — | 0.5% | 1 | 0 |
| 32 | Wayne County | 1 | — | 0.5% | 3 | -2 |
| 33 | Greenbrier County | 1 | — | 0.5% | 3 | -2 |
| 34 | Hardy County | 1 | — | 0.5% | 0 | new |
| 35 | Brooke County | 1 | — | 0.5% | 2 | -1 |
| 36 | Nicholas County | 1 | — | 0.5% | 0 | new |
| 37 | Lincoln County | 1 | — | 0.5% | 0 | new |
| 38 | Roane County | 1 | — | 0.5% | 1 | 0 |
| 39 | Morgan County | 1 | — | 0.5% | 0 | new |
| 40 | Summers County | 1 | — | 0.5% | 0 | new |
The 40 counties with the most approvals; every county is on the West Virginia page.
FY2024 against FY2023
| West Virginia | FY2024 | FY2023 |
|---|---|---|
| 7(a) approvals | 210 | 156 |
| 7(a) dollars | $88.0M | $53.8M |
| Median 7(a) approval | $100K | $100K |
| 504 approvals | 5 | 5 |
| 504 dollars | $6.3M | $5.4M |
| Jobs supported, as reported | 1,587 | 1,282 |
Questions and answers
Which lenders made the most SBA loans in West Virginia in FY2024?
The Huntington National Bank (100), First Community Bank (14), Clear Mountain Bank, Inc. (12), BayFirst National Bank (8), Manufacturers and Traders Trust Company (8). 37 lenders had at least one approval.
How many SBA loans were approved in West Virginia in FY2024?
215: 210 under 7(a) worth $88.0M and 5 under 504 worth $6.3M.
Which West Virginia counties had the most SBA approvals in FY2024?
Monongalia County (24), Kanawha County (22), Cabell County (16), Putnam County (16), Harrison County (15).
When does FY2024 start and end?
The federal fiscal year 2024 runs from 1 October 2023 to 30 September 2024.
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