SBA loans in West Virginia: who lends, what gets bought, how it performs

SBA lenders in West Virginia

The lenders that made the most SBA 7(a) acquisition loans in West Virginia, FY2018 to FY2026.

What this tells a buyer

• Deal size band. Half of West Virginia acquisition loans fell between $227,500 and $1,892,700. The nationwide band is $283,000 to $1,465,000.
• Share of national volume. West Virginia accounts for 0.2% of all SBA acquisition loans and ranks number 46 of 54 states and territories by count.
• Industry concentration. Hotels (except Casino Hotels) and Motels is the most financed business type here (21 loans, 18% of the state). The top three industries together are 26%.
• Lender concentration. The Huntington National Bank made 24% of the state's acquisition loans. A single lender carries a large part of the market, so it is worth knowing what it prefers to finance.
• Franchise resales. 29% of acquisition loans in West Virginia involved a franchised brand; the most frequent is Days Inn (4 loans).

How West Virginia compares

The median for West Virginia acquisition loans is $697,500, slightly above the $645,250 median for all SBA-financed acquisitions nationally.

The middle half runs $227,500 to $1,892,700, against $283,000 to $1,465,000 nationally; the median term is 10 years, the same as the national median; the average initial rate is 7.34%, below the 7.76% national average.

Seasoned loans were charged off at 3.3%, in line with the 3.5% rate for all acquisition loans.

Loan size distribution

Most West Virginia acquisition loans (61%) were under $1M, and the largest single band is Under $350K at 38%, against 30% of all acquisition loans.

Bands are fixed dollar ranges chosen for comparison. They are not SBA program limits.

Lender concentration

The Huntington National Bank made 24% of West Virginia acquisition loans, and the top three lenders together made 42%. 7 of the 43 lenders involved made three or more. Repeat experience is spread across many banks. That is a rough guide to how many banks have seen this kind of deal before.

Recent activity

In FY2025 and FY2026 combined, 22 West Virginia acquisition loans were approved. That is 19% fewer than the 27 approved in FY2023 and FY2024. The median was $795,500, slightly above the $697,500 median across all years.

West Virginia acquisition loans by year

How often do these acquisition loans fail?

Of the 61 West Virginia acquisition loans approved from FY2018 to FY2021 (the seasoned cohort, every loan at least about five years old), 2 have been charged off by the SBA, a rate of 3.3% by loan count and 0.9% by dollars. 34 have already been paid in full.

For comparison, the charge-off rate across all SBA 7(a) acquisition loans in the same cohort is 3.5%, so West Virginia is 7% lower than the acquisition-loan average. Non-acquisition 7(a) loans (every other stated purpose) approved FY2018 to FY2021 charged off at 6.2%.

"Charged off" is the SBA's final loss action on a defaulted loan after collection efforts. It lags default by a year or more, which is why only older cohorts are measured. It is not the same as a delinquency rate, and loans still outstanding can still fail. See charge-off in the glossary.

Top industries in West Virginia

Franchise brands bought in West Virginia

Acquisitions by industry in West Virginia

The 1 industry with the most acquisition loans in West Virginia (minimum ten). Charge-off rates appear where at least 20 loans are old enough to measure.

Related

• Hotels (except Casino Hotels) and Motels nationally
• Full-Service Restaurants nationally
• Funeral Homes and Funeral Services nationally
• The Huntington National Bank
• Live Oak Banking Company
• GBank
• All states
• SBA lenders by state
• Buyer's guide to the data

State is the project state recorded by the lender (where the acquired business operates), not the borrower's mailing state.