SBA Lenders in West Virginia
Top lenders ranked by real SBA lending data. See who's most active in West Virginia across deal count, loan size, and pricing.
What Borrowers Should Know
West Virginia's median 7(a) spread of P+2.21% is 54 basis points better than the national median of P+2.75%. This pricing advantage suggests strong competition among the state's 125 active lenders, particularly The Huntington National Bank which dominates with 1,032 of the 2,478 total deals (41.6%). As a borrower, you're entering a competitive market where rates may be more favorable than you'd find nationally, though Huntington's market concentration means shopping rates across the remaining 124 lenders is essential.
The average SBA deal size in West Virginia is $322,504, but the state's total volume of $799M divided across 2,478 deals suggests a highly fragmented market of smaller borrowers. This means the infrastructure and underwriting processes are optimized for modest loan amounts. If your funding need is under $400K, you'll find streamlined processes; above $500K, you may encounter fewer lenders with bandwidth and experience at that scale.
The top 5 lenders account for 1,559 of 2,478 deals (62.8% of the market), but there's a significant long tail: the remaining 120 lenders share just 919 deals. This concentration creates opportunity. If you're rejected or receive poor terms from Huntington or the other top-4 lenders, you have 120 alternatives to approach, but you'll need to identify which of those smaller lenders actively originate loans in your industry—most won't be generalists.
Total SBA Loans
2,479
Active Lenders
124
Avg Deal Size
$322K
Total Volume
$798.7M
Top 10 Lenders in West Virginia
Ranked by total deal count across all SBA programs.
| # | Lender | Type | Deals | Avg Size | Spread | |
|---|---|---|---|---|---|---|
| 1 | The Huntington National Bank | Bank | 1,032 | $181K | P + 2.60%AVERAGE | |
| 2 | Clear Mountain Bank, Inc. | Bank | 156 | $196K | P + 1.00%COMPETITIVE | |
| 3 | MVB Bank, Inc. | Bank | 148 | $281K | P + 1.75%GOOD | |
| 4 | Truist Bank | Bank | 143 | $175K | P + 2.00%GOOD | |
| 5 | Community Trust Bank, Inc. | Bank | 80 | $324K | P + 1.75%GOOD | |
| 6 | JPMorgan Chase Bank, National Association | Bank | 77 | $199K | P + 3.21%ABOVE AVG | |
| 7 | Citizens Bank of West Virginia, Inc | Bank | 72 | $229K | P + 1.50%COMPETITIVE | |
| 8 | Manufacturers and Traders Trust Company | Bank | 52 | $114K | P + 3.00%ABOVE AVG | |
| 9 | Live Oak Banking Company | Bank | 42 | $1.1M | P + 2.00%GOOD | |
| 10 | Regional Development Funding C | CDC/504 | 37 | $864K | — |
Top Industries in West Virginia
SBA lending activity by industry segment.