How many small businesses are in West Virginia?

West Virginia has approximately 117,000 small businesses, representing 99.1 percent of all businesses in the state. They employ 252,000 workers — 48.2 percent of West Virginia's private workforce. Source: SBA Office of Advocacy, 2024 Small Business Profile.

How active is SBA 7(a) lending in West Virginia?

West Virginia received 287 SBA 7(a) loan approvals in FY2024, totaling $110 million. The average loan size was approximately $383,000. Source: SBA FOIA loan dataset, FY2024 aggregate.

Does West Virginia have a commercial financing disclosure law?

No. West Virginia has not enacted a statewide commercial financing disclosure law as of 2026.

What financing products work best for West Virginia small businesses?

Healthcare practices access SBA 7(a) for expansion. Tourism and outdoor recreation businesses use revenue-based financing. Construction businesses use equipment financing. Energy services businesses use equipment loans. The right product depends on your industry and revenue.

Is ClearValue Lending available in West Virginia?

Yes. ClearValue Lending routes West Virginia SMB applicants to lender partners operating across Charleston, Huntington, Morgantown, Parkersburg, and statewide. We are a funding platform, not a lender or broker.

What are typical eligibility minimums for West Virginia SMB financing?

SBA 7(a) typically requires 2+ years in business, 650+ FICO, and $150,000+ annual revenue. Revenue-based financing may be available with 500+ FICO, 6+ months in business, and $10,000+ monthly revenue. All financing is subject to lender underwriting.

Small Business Loans in West Virginia

West Virginia has 117,000 small businesses employing 252,000 workers — 48.2 percent of the state's private workforce. In FY2024, West Virginia small businesses received 287 SBA 7(a) loans totaling $110 million, with an average loan size of approximately $383,000. West Virginia's SMB economy has been transitioning from its historical energy base (coal, natural gas) toward healthcare, tourism, and professional services, with significant federal infrastructure investment flowing through the state.