Small business loans in Morgantown, WV
Short answer
The most active SBA lenders in Morgantown, WV since FY2024 are The Huntington National Bank (41 loans) and Clear Mountain Bank (5). The median loan was $74,500, and half fell between $50,000 and $288,750. For free help, see the West Virginia Small Business Development Center. Source: SBA 7(a) loan data.
- SBA loans since FY2024
- 56
- approved since FY2024
- $20.49M
- median loan
- $74,500
- through SBA Express
- 50.0%
Lenders making SBA loans in Morgantown
The Huntington National Bank alone made 73% of the loans in Morgantown.
| Lender | Loans | Share |
|---|---|---|
| The Huntington National Bank | 41 | 73.2% |
| Clear Mountain Bank | 5 | 8.9% |
Share is the percent of all Morgantown loans in that period. Each name links to that lender's page for West Virginia where one exists.
Morgantown has two lenders with five or more loans since FY2024. Others had fewer, and the West Virginia page counts 49 lenders with at least one approved loan statewide.
Ask lending partners about a loan in Morgantown
Tell us what you need and we refer your request to lending partners.
Start my loan requestJanover Capital LLC is not a lender and is not the SBA. The lender makes the credit decision. A lender or marketplace may pay us a referral fee if we connect you, at no cost to you. Advertiser disclosure.
Local help near Morgantown
Morgantown borrowers can start with SBA's district office for West Virginia, an SBDC or SCORE.
45% of Morgantown borrowers since FY2024 were startups or businesses two years old or younger. SBDCs provide counseling and training, and SCORE mentors give advice at no cost, according to SBA.
SBA has one district office for West Virginia. Its page points to state and federal resources and to lenders in the area. The West Virginia Small Business Development Center gives free counseling across West Virginia.
- SBA West Virginia District OfficeSBA district office
- West Virginia Small Business Development CenterSmall Business Development Center
- SCORE mentors in West VirginiaBusiness mentoring
Alongside SBA loans, West Virginia runs three loan programs. The West Virginia page describes each, and the official pages are linked here.
Loan counts and sizes in Morgantown
Morgantown is the only West Virginia city with 100 or more SBA loans since FY2020. Nationally it is the 492nd busiest of the 580 cities that reach 100 loans.
The 56 loans, 12.3% of the 457 in West Virginia, were approved for $20.5 million in all. The medianThe middle figure. Half the loans were larger and half were smaller. loan was $74,500, 50% below the national median of $150,300. Half of the loans fell between $50,000 and $288,750. The Morgantown median is 32% below the West Virginia median of $110,000.
| Measure | Morgantown | West Virginia | U.S. |
|---|---|---|---|
| Loans | 56 | 457 | 162,355 |
| Median loan | $74,500 | $110,000 | $150,300 |
| 25th percentile | $50,000 | $48,000 | $50,000 |
| 75th percentile | $288,750 | $284,000 | $500,000 |
| Via SBA Express | 50.0% | 46.0% | 35.8% |
| Lines of credit | 39.3% | 32.4% | 28.1% |
| Startups | 21.4% | 19.7% | 16.1% |
| Ownership changes | n/a | 8.5% | 10.4% |
| Median term | 10 years | 10 years | 10 years |
| Median spread | 2.75 | 2.25 | 2.75 |
| Charged off | 0.0% | 1.5% | 3.6% |
A quarter of loans were smaller than the 25th percentile loan and a quarter were larger than the 75th. Median spread is in percentage points over Prime. Charged off is the share of FY2020 to FY2022 loans a lender wrote off as a loss. It is shown only for groups of 30 loans or more. Fewer than 5 marks a share that would stand for 1 to 4 loans, which we do not publish. U.S. covers every loan in the file.
86% of the loans were $500,000 or less, the size SBA Express covers. 50.0% of all loans went through SBA Express, above the national 35.8%. Lines of credit were 39.3% of loans, above the national 28.1%.
Labels show each size's share of all loans. The highlighted bar is the size band that contains the median.
Fiscal years run October to September. The last bar covers nine of its twelve months.
Volume rose 18% from FY2024 (22 loans) to FY2025 (26), the two latest full years. The busiest full year in the file was FY2020, with 56 loans. FY2026 already shows 8 loans through June 30.
Of the 94 loans Morgantown borrowers received in FY2020 to FY2022, 0.0% were charged offThe lender wrote the loan off as a loss because it was not being repaid. by June 30, 2026, against 3.6% nationally. That group is small, so treat the rate as rough. Lenders reported 427 jobs supported across the 56 loans since FY2024, about 7.6 per loan. SBA does not audit these estimates.
What businesses in Morgantown borrow for
Full-Service Restaurants was the largest borrower group in Morgantown since FY2020, with 11 loans or 6.5% of the total.
The five largest industries made up 20% of all Morgantown loans since FY2020.
| Industry | Loans | Share | U.S. share |
|---|---|---|---|
| Full-Service Restaurants | 11 | 6.5% | 4.6% |
| Funeral Homes and Funeral Services | 6 | 3.6% | 0.2% |
| Landscaping Services | 6 | 3.6% | 1.7% |
| Fitness and Recreational Sports Centers | 5 | 3.0% | 2.1% |
| New Single-Family Housing Construction (except For-Sale Builders) | 5 | 3.0% | 0.7% |
Share is the percent of all Morgantown loans in that period. Industry is the NAICS code on each loan. A name links to the West Virginia page for that industry where one exists.
A typical loan payment in Morgantown
The median Morgantown loan was $74,500 with a median term of 10 years.
The median variable-rate loan in Morgantown was priced at Prime plus 2.75 percentage points at approval. At today's Prime that spread works out to 9.75%. On $74,500 over 10 years, principal and interest would come to about $974 a month. That is arithmetic on past loans, not a rate a lender is offering.
| Loan | Amount | Monthly payment |
|---|---|---|
| 25th percentile loan | $50,000 | $654 |
| Median loan | $74,500 | $974 |
| 75th percentile loan | $288,750 | $3,776 |
Principal and interest only. Fees, a different term or a fixed rate change the payment. This is an illustration from SBA's file, not an offer.
SBA's rate ceiling for this loan size
SBA's maximum for a loan of $74,500 is Prime plus 6.0 percentage points, or 13.00% today. The median variable-rate loan here was priced 3.2 points under that ceiling. Source: 13 CFR § 120.214(d)(2); SOP 50 10 8.1, App. 18, Para. A.2 (p. 395).
Morgantown loans approved since FY2024 had a median starting rate of 10% at approval, against 10.25% nationally. Prime changed during those years, so use the spread above, not that rate, as the guide to today's cost.
Run your own numbers: payments on a $75,000 loan and SBA Express payment calculator.
SBA 504 loans near Morgantown
The 504 file lists fewer than five loans in Morgantown since FY2020.
That is too few to publish a count, a dollar total or a median for Morgantown.
No Certified Development CompanyA nonprofit that SBA certifies and regulates to arrange 504 loans together with a bank. (CDC) is named on five or more 504 loans in Morgantown, so the list below is West Virginia's. Business Finance Group, Inc. is named on the most there, 13 loans since FY2020.
| Certified Development Company | 504 loans |
|---|---|
| Business Finance Group, Inc. | 13 |
| Regional Development Funding Corporation | 11 |
How a 504 loan is split
A standard 504 project is 50% third party lender, 40% CDC debenture, 10% borrower. 504 money pays for major fixed assets such as land, buildings and long-term machinery and equipment, not working capitalMoney for day-to-day costs such as payroll, rent and inventory. Full definition or inventory. Source: SOP 50 10 8.1, Sec. C, Ch. 1, Para. B (p. 221). SBA keeps a list of Certified Development Companies.
Morgantown in West Virginia
Morgantown made up 12.3% of West Virginia's SBA loans since FY2024.
Morgantown is the only West Virginia city with 100 or more SBA loans since FY2020. The West Virginia page covers all 457 loans in West Virginia.
Common questions about SBA loans in Morgantown
Which lenders make the most SBA loans in Morgantown?
The Huntington National Bank leads with 41 loans in Morgantown since FY2024. Clear Mountain Bank (5) follows. Only lenders with five or more Morgantown loans are counted.
Which industries get SBA loans in Morgantown?
Full-Service Restaurants leads with 11 loans in Morgantown since FY2020. Funeral Homes and Funeral Services (6) and Landscaping Services (6) follow.
How to read this
Counts come from SBA's 7(a) loan-level data release, as of June 30, 2026. The file lists loans SBA approved. It does not list declined applications, so it cannot show approval odds. We do not publish any figure built on fewer than 5 loans. Location is the borrower's address in the file, and city names are as SBA recorded them. Recent means FY2024 through June 30, 2026. Charge-off rates use FY2020 to FY2022 loans, the only years old enough to have had time to go bad. Jobs supported are lender-reported estimates. How we build these pages.
Sources
- SBA 7(a) and 504 FOIA loan-level data, as of June 30, 2026
- SBA, 504 loans
- SBA, resource partners: SBDCs and SCORE
- SBA West Virginia District Office
- West Virginia Small Business Development Center
- SCORE, West Virginia
- SOP 50 10 8.1, Sec. C, Ch. 1, Para. D.1 (p. 241); 13 CFR § 120.931
- SOP 50 10 8.1, Sec. C, Ch. 1, Para. B (p. 221)
- sba.gov/loans/504-loans; SOP 50 10 8.1, Sec. A, Ch. 3, Para. A (p. 51)
- SOP 50 10 8.1, Sec. B, Ch. 2, Para. B.1 (p. 126)
- 13 CFR § 120.214(d)(2); SOP 50 10 8.1, App. 18, Para. A.2 (p. 395)
Download this page's data: JSON · CSV
Cite this page: Small business loans in Morgantown, WV. SBA Express Loans, Janover Capital LLC (data as of June 30, 2026). https://www.sbaexpress.loans/west-virginia-small-business-loans/morgantown/
Ask lending partners about a loan in Morgantown
Tell us what you need and we refer your request to lending partners.
Janover Capital LLC is not a lender and is not the SBA. The lender makes the credit decision. A lender or marketplace may pay us a referral fee if we connect you, at no cost to you. Advertiser disclosure.