Healthcare practice financing in West Virginia

Read the third column first. A published summary is a starting point; the entity being funded is a question for West Virginia healthcare counsel. Verified

Source: SBA 7(a) and 504 approval files, fiscal year 2025. Verified

The largest county file in West Virginia is PETERSTOWN: 2 approvals worth $1.6 million. Away from it, expect fewer local comparables and a longer credit memo. Verified

The table lists what is certified in West Virginia and leaves out what is not. Not yet loaded flags a dataset still on the queue rather than an estimate standing in for a measurement. Directional

Monongalia leads West Virginia with 3 certified providers, ahead of Kanawha at 3. A dense county gives an underwriter something to compare against; a sparse one leaves the practice's own reports to do the work. Verified

Census counts 3,391 tracked establishments in West Virginia; physician and specialty offices lead at 848. Compare the 34 approvals and the ratio lands at 1.0 per 100, which frames how unusual a guaranteed loan is locally. Verified

No West Virginia county carries more of the base than Kanawha, with 535 establishments. Where the base thins out, expansion is a build rather than a purchase, and the capital request changes shape with it. Verified

23,430 people work as registered nurses in West Virginia, at a mean of $80,130. A West Virginia expansion budget that undershoots this wage tends to run out of working capital before the new chairs fill. Verified

818 designations are on file for West Virginia, covering primary care, mental health, dental. Shortage status reads on a credit file as demand evidence, not as a subsidy, and it supports the revenue case for a second site. Verified

• Residential care and treatment: 6 West Virginia approvals totaling $3.0 million, $499,900 each. With only 6 West Virginia approvals behind $3.0 million, the underwriter reads documents rather than precedent.
• Physician and specialty offices: $2.4 million across 7 approvals, averaging $336,729. Above $336,729 the file needs collateral or trading history that most of those 7 West Virginia borrowers did not have to show.
• Behavioral health and ABA: 6 approvals, $1.5 million, $252,650 average. A West Virginia request near $252,650 sits inside the band 6 approvals already established.
• Chiropractic offices: average approval $267,800 over 2 closings worth $535,600. At $267,800 against $535,600 of state volume, that is an equipment or fit-out request more often than an acquisition.
• Other outpatient care centers: $500,000 over 2 approvals in West Virginia, $250,000 each, which sets what a comparable request can be documented against.
• Pharmacies: average approval $150,000 over 2 closings worth $300,000. At $150,000 against $300,000 of state volume, that is an equipment or fit-out request more often than an acquisition.
• Medical equipment suppliers: 2 closings, $300,000 approved, $150,000 typical. That average is the reference point a West Virginia credit committee starts from on a similar file.
• Med spa and personal care: 3 approvals, $157,000, $52,333 average. A West Virginia request near $52,333 sits inside the band 3 approvals already established.
• Home health and hospice: $100,000 across 1 approvals, averaging $100,000. Above $100,000 the file needs collateral or trading history that most of those 1 West Virginia borrowers did not have to show.

• Most of the money approved in West Virginia went to residential care and treatment, 34 percent of it, at $499,900 per approval. At that size the underwriting question is collections history and lease term, which means the documents worth assembling before an inquiry are the last 3 years of returns and the lease.
• After the leaders, physician and specialty offices account for 7 approvals worth $2.4 million and behavioral health and aba for 6. Thin fields are not unfundable in West Virginia, but they take a longer memo and more history.
• CMS lists 404 medical equipment suppliers in West Virginia. Certification is a license to bill, and a funder treats it as revenue evidence a start-up cannot produce, which is why an established certified operator sees longer terms on the same request.

• 34 SBA approvals to West Virginia healthcare borrowers in FY2025¹
• $8.9 million approved, averaging $262,776 per loan¹
• 510 CMS-certified providers across 5 categories²

• Healthcare AR line and payroll funding
• Partner buy-in, buy-out, and refinance
• Commercial real estate, owner-occupied
• Expansion, relocation, and build-out
• Medical receivables factoring
• SBA 7(a) and 504
• Working capital term loan

• West Virginia Board of Medicine, licensure and ownership questions for physicians
• West Virginia Board of Dentistry, licensure and ownership questions for dentists
• West Virginia has no verified state repayment scheme, state lending program, or financing disclosure regulator on file here

• All states covered
• Every financing program
• Alaska healthcare practice financing, for a second reading of the same datasets
• Colorado healthcare practice financing, the nearest comparable record to this one
• Georgia healthcare practice financing, the nearest comparable record to this one
• Home health, and the revenue mix a funder checks first
• Clinical and toxicology labs, and the revenue mix a funder checks first
• IDD services, and where the collateral usually comes from
• Medical billing and RCM companies, read on the terms that field is underwritten on
• Telehealth and virtual clinics, read on the terms that field is underwritten on
• Medical transcription, coding, and credentialing services, with the payer profile behind the numbers

1. 1SBA 7(a) and 504 approvals, FY2025
2. 2CMS provider certification files
3. 3NPPES provider registry
4. 4County Business Patterns 2022
5. 5BLS Occupational Employment and Wage Statistics, OEWS 2025
6. 6HRSA health professional shortage area file
7. 7West Virginia corporate practice rules
8. 8West Virginia certificate of need
9. 9West Virginia Board of Medicine
10. 10West Virginia Board of Dentistry