SBA loans by state
SBA loans in West Virginia: 146 approvals in FY 2026, median $150,000
24% of loans went to businesses not yet open. Mid-size loans were priced at a median of 9.78%, above the national 9.75%.
Independent site, not a lender and not affiliated with the U.S. Small Business Administration. Loans are applied for only with an SBA lender.
Your loan against approvals in your state
Example, not your result yet· change a figure to see yours
West Virginia: 7(a) loans approved last year
146
| Your rate vs. last year’s loans of this size, all states | about the median for this size |
| West Virginia: median rate at approval, $50,001 to $250,000 | 9.78% |
| West Virginia: median 7(a) loan last year | $150,000 |
| Payment over 10 years, SBA fee added to the loan | $2,016/mo |
Last year’s loans: the 7(a) loans SBA approved from October 1, 2025 to September 30, 2026 (fiscal year 2026), in SBA’s public loan file of September 30, 2026. Rates at approval were set when prime was 6.75% or 7.00%; today: prime rate 7.00% on November 2, 2026. Your rate is compared on its margin over prime, so the change in prime since last year does not count against you.
West Virginia, FY 2026: 146 SBA 7(a) approvals for $59.9 million (46th of the 50 states and DC, SBA file of September 30, 2026). 24% of loans went to businesses not yet open. Mid-size loans were priced at a median of 9.78%, above the national 9.75%. Business purchases were rare, 8% of loans. 504 lending was light, 6 approvals. 46% of loans went through SBA Express. Franchises took only 8% of loans. Loans were small: the median was $150,000, against $220,000 nationally. Lending was spread out; Kanawha County led with 13%. 33 lenders were active, a wide field for the volume. Lenders kept most loans on their books. Only 17% of the loans came from lenders based in West Virginia. Today’s cap on a $150,000 variable loan: 13.00%.
Fee notices read and loan file counted by Radif Partners · Editorial policy · Method and sources
| Lender | FY 2026 loans | Median loan | Median variable rate | Lender’s home state |
|---|---|---|---|---|
| Huntington National Bank | 28 | $75,000 | 9.75% | Ohio |
| M&T Bank | 18 | $60,000 | 9.88% | New York |
| Newtek Bank | 16 | $276,500 | 9.75% | Florida |
| First Community Bank | 12 | $95,500 | n/a | Virginia |
| Clear Mountain Bank | 8 | $50,000 | n/a | West Virginia (in-state) |
A start-up state
With 24% of loans going to businesses not yet open, West Virginia ranks 3rd highest among the 50 states and DC for start-up lending. Every one of those borrowers had to put in at least 10% of the project cost, under SOP 50 10 8.1.
Mid-size loans priced above average
On loans of $50,001 to $250,000, the median variable rate in West Virginia was 9.78%, against 9.75% nationally, for the same cap and the same prime. The gap comes from the lenders active in the state, listed in the table above.
Acquisitions are rare
Only 8% of West Virginia’s loans financed the purchase of a business, 4th lowest among the 50 states and DC. Expansion and working capital for current owners made up the bulk.
Hardly any 504 loans
Only 6 504 debentures went to West Virginia projects against 146 7(a) loans, a ratio 8th lowest among the 50 states and DC. The CDC most present was Business Finance Group, Inc.. For a building, the 504 route is still open and worth pricing against a 7(a) real estate loan.
| Loan size | Loans | Median variable rate, FY 2026 | SBA maximum today |
|---|---|---|---|
| $50,000 or less | 42 | 9.62% | 13.50% |
| $50,001 to $250,000 | 52 | 9.78% | 13.00% |
| $250,001 to $350,000 | 23 | 9.50% | 11.50% |
| over $350,000 | 29 | 8.00% | 10.00% |
SBA Express carries much of the volume
46% of West Virginia’s approvals were SBA Express loans (34% nationally). Express stops at $500,000, carries a 50% guaranty and lets the lender decide on its own forms; the fee is charged on that smaller guaranteed part.
Few franchise loans
Franchise units took 8% of West Virginia’s approvals, below the 14% national share; independent businesses took nearly all the rest.
Smaller loans, higher allowed margins
Half of West Virginia’s approvals were for $150,000 or less, 11th smallest of the 50 states and DC ($220,000 nationally). SBA guarantees 85% of a loan that size and the fee is $2,550, but the variable rate may go up to prime plus 6.0 points, 13.00% today.
Spread across the state
No county dominates: the busiest, Kanawha County, had 13% of approvals, followed by Monongalia County (18) and Berkeley County (13).
Counties with the most approvals: Kanawha (19), Monongalia (18) and Berkeley (13). Trades: child care services (8), fitness and recreational sports centers (8), snack and nonalcoholic beverage bars (8), plumbing, heating, and air-conditioning contractors (4) and hotels and motels (4).
All states compared.