Small Business Loans in West Virginia

With a small business loan in West Virginia, your company can let the Mountain State’s country roads take you home to business success!

Types of West Virginia Business Loans

West Virginia might not be the first state that comes to mind as a business powerhouse, but the Mountain State has an extremely favorable business environment, a very low cost of living, a talented workforce, and a thriving innovation sector. A small business loan can help you take advantage of these conditions so your operation can soar.

SBA Loans

A Small Business Administration (SBA) loan is a type of financing that is partly backed by the SBA, but is serviced by a private lender. The result is lower-than-usual interest rates, but an unusually lengthy application process.

Line of Credit

Similar to a credit card, a revolving line of credit permits your business to make purchases on credit up to a certain limit, which you pay down later.

Term Loan

If approved for a term loan, your business receives a lump disbursement that you repay, plus interest and fees, in monthly installments.

Equipment Finance

You can finance business equipment, which allows you to benefit right away from the equipment, but pay for machinery over multiple installments.

Accounts Receivable Financing

You can receive a loan based on unpaid invoices owed to you by applying for accounts receivable financing.

Local West Virginia Business Loan Options

Several organizations service loans to small businesses that set up shop in the Mountain State.

Citizens Bank of West Virginia has branches throughout the state and a solid list of commercial lending options, including loans for working capital and real estate.

In terms of credit unions, West Virginia Federal Credit Union is a great option with a long history of small business lending.

If you are in the northern or central regions of the state, check out the business loan offerings at First Exchange Bank.

How to apply for a small business loan

Fill out the 15-minute online application.

It’s secured with bank-grade encryption and SSL technology, so you know your information is safe.

Receive matches.

See which credit cards you qualify for before choosing the one that best suits your business needs and offers the cash rewards you’re looking for.

Get funded.

Once you choose a card, you can get approved in as little as 7-10 days.

Apply Now

FAQ about Small Business Loans in West Virginia

West Virginia BusinessLink is a partnership between the state government and several economic development groups and has a wealth of resources for both experienced and aspiring entrepreneurs. The West Virginia chapters of the Small Business Development Centers (SBDCs) are very active and provide mentorship opportunities among other support resources. Country Roads Angel Network is an organization of West Virginia angel investors looking to help with the state’s burgeoning tech sector.


West Virginia continues to offer grants from the American Rescue Plan Act to help businesses deal with the ongoing turmoil from the COVID-19 pandemic. For businesses located in West Virginia’s large rural areas, the United States Department of Agriculture (USDA) has grants for economic development in rural areas. All small businesses in the Mountain State should regularly check, especially if your company is involved in early childhood education or economic conservation.


To qualify for a West Virginia business loan, first, you must structure your company and, if necessary, register with the Secretary of State. Once a legal entity, your company can apply for funding. Lenders differ and each type of loan has its own requirements, but financiers will generally use your business history, your credit score, and your business plan in making loan approval decisions.

To decide on the right business loan for your West Virginia small business, compare how the financing can support the growth of your business over time while also ensuring the repayment installments are not too burdensome to make every month.

A West Virginia business loan can help you grow your small business by attracting great talent, renovating a location, or shoring up your inventory, for example. Funding can also help you alleviate cash flow or work capital issues.

Quickly compare financing options from multiple funders.

Applying is free and won’t impact your credit

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