USDA Rural Development Announces $34.2 Million in Guaranteed Loans to Benefit Business Development throughout West Virginia

(Morgantown, WV., September 18, 2026) — U.S. Department of Agriculture Rural Development West Virginia State Director John Reisenweber announced three local business have received a combined $34.2 million in USDA guaranteed loans in partnership with local lenders to be used to develop real estate, create jobs and strengthen operational capacity.

 

“These investments energize West Virginia’s economy by capitalizing on tourism opportunities, strengthening local capacity and supporting family environments,” said Reisenweber. “With new jobs, renewed facilities and thriving small businesses, USDA is helping to build lasting momentum and a more resilient future for both our residents and our visitors. I’m excited to see these investments impacting communities all over our great state of WV.”

 

Icon Cinema Huntington, LLC has received a $3.4 million guaranteed loan in partnership with Community Trust Bank to renovate and equip a multiscreen cinema and family entertainment center in Huntington. The investment will support leasehold improvements, theater systems, arcade and bowling equipment, and related project costs. This project will create 20 jobs.

 

Clearwater Investment Holdings, LLC has received a $25 million guaranteed loan in partnership with First Bank of the Lake to refinance existing business debt in Milton, West Virginia. The project will strengthen the borrower’s long-term capital structure, support continued resort operations and retain 23 jobs.

 

Branch Berkeley Springs, LLC has received a $5.8 million guaranteed loan in partnership with Varilease Finance, Inc.  to develop a micro-resort in Morgan County. The investment will be directed toward upgrading two short-term rental homes, building nine new rental facilities and providing working capital.

 

These investments come through the agency’s Guaranteed Business and Industry Loan Program.  USDA Rural Development Business Programs provide financial backing and technical assistance to stimulate business creation and growth.  Business Programs also support the creation and preservation of quality jobs in rural areas. To learn more about these programs, contact Jesse Gandee, Business Programs Director, at jesse.gandee@usda.gov.

For more information on USDA Rural Development investments in rural America, visit the Rural Data Gateway. The Rural Data Gateway is an online tool that strengthens USDA Rural Development partnerships with rural people, entrepreneurs, government officials and Congress by making investment data accessible to the public.