Pursuit

What Pursuit does

Pursuit is a U.S. Treasury-certified Community Development Financial Institution (CDFI) and SBA Preferred Lender that originates small business loans across six states (Connecticut, Delaware, Illinois, New Jersey, New York, and Pennsylvania). The company operates through three wholly-owned subsidiaries—Pursuit CDC (formerly The 504 Company, SBA 504 Certified Development Company), Pursuit BDC (SBA 7(a) lender), and Pursuit Community Finance (formerly Excelsior Growth Fund, CDFI)—and offers more than 15 loan programs spanning SBA 504 loans (up to $5.5 million, 25-year terms, below-market fixed rates), SBA 7(a) and Community Advantage loans (up to $5 million), SBA Microloans ($10,000-$50,000), and proprietary products such as SmartLoan (up to $100,000, 11.9% capped rate), Impact Loans, FlexLoan for startups, Veteran Loans, the Main Street Capital Loan Fund, and a Connecticut Small Business Boost Fund. A complementary Business Advisory Services line provides fee-based consulting on financial management, marketing, HR, operations, and credit repair to eligible borrowers.

The business model is interest income on originated loans (loan amounts range from $10,000 to $5.5 million with terms of 6 to 25 years), supplemented by origination/commitment fees and advisory fees. Distribution combines direct sales through 50+ dedicated loan officers located across the six-state service territory with a referral channel fed by more than 60 member banks (including M&T, JPMorgan Chase, Bank of America, HSBC, KeyBank, TD Bank, Wells Fargo), as well as CPAs, attorneys, real estate brokers, and economic development organizations. Ownership is structured as a consortium of more than 70 bank and financial institution shareholders—a structure typical of CDFIs—that also supplies wholesale funding capacity.

Technology is described as a traditional financial services lending operation without disclosed proprietary platforms; loan servicing technology is provided by third-party partner Prudent Lenders, and the application process combines online intake with one-on-one loan officer support. Since 1955, Pursuit and its predecessor entities have cumulatively lent more than $4 billion across 10,000+ small business loans, including $309 million across 785 loans in 2023 and an $880 million COVID-relief deployment to 12,800 businesses during the pandemic. The company is headquartered in Latham, New York, employs 101-250 people, and is privately held with no parent company.

Name

Pursuit

Legal name

Pursuit

Website

https://pursuitlending.com

Company type

Private

Founded year

1955

Operating status

Operating

Headcount range

101–250 employees

Short description

Pursuit is a U.S. Treasury-certified CDFI and SBA Preferred Lender offering 15+ small business loan programs ($10,000–$5.5 million) to startups and underserved borrowers across six Northeastern and Mid-Atlantic states, with 70+ member bank shareholders supporting its capital base.

Ownership category

akta.pro rank

Product category

Small Business Lending

NAICS

Activities Related to Credit Intermediation (5223), Sales Financing (52222)

SIC

Mortgage Bankers & Loan Correspondents (6162), Short-Term Business Credit Institutions (6153)

akta.pro primary industry

SBA/Government-Backed & Development Finance Loans (FSAKAGAI)

akta.pro secondary industries

SBA/USDA Government-Backed Loan Intermediation (FSAEAEAI), Construction & Development (C&D) Lending — Commercial/Multifamily (FSALADAH)

Keywords

• SBA small business loans
• Small business lending
• Commercial real estate financing
• Business advisory services
• CDFI lending services

Headquarters

HQ city

Albany

HQ country

United States

HQ region

North America

Offices13 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales

Revenue model

1. Interest Income on Small Business Loans: Pursuit generates revenue primarily through interest income on the loans it originates, including SBA 504 loans, SBA 7(a) loans, SBA Microloans, SmartLoans, and other specialized loan products. Loan amounts range from $10,000 to $5.5 million with terms from 6 to 25 years.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

Pursuit (formerly New York Business Development Corporation) is a Community Development Financial Institution (CDFI) that provides SBA loans and other small business financing products — including SBA 7(a), SBA 504, SBA Microloans, and conventional loans — to small businesses primarily in the Northeastern United States.

Product overview

Pursuit is a small business lending platform offering more than 15 loan programs as a unified product suite. The core offerings include SBA 504 Loans (fixed-rate financing for commercial real estate and equipment), SBA 7(a) & Community Advantage Loans (flexible funding up to $5 million for startups and growing businesses), SBA Microloans ($10,000-$50,000 with fast approval), and SmartLoan (fast funding up to $100,000 for established businesses). Additional programs include Veteran Loan Programs, SBA 504 Refinance, Small Business Line of Credit, Impact Loans, Connecticut Small Business Boost Fund, Main Street Capital Loan Fund, and FlexLoan. The company also offers Business Advisory Services as a complementary consulting offering for eligible clients. Loans range from $10,000 to $5,500,000 with terms and rates designed to be more flexible than traditional banks, serving businesses in Connecticut, Illinois, New Jersey, New York, and Pennsylvania.

Differentiator

Problem solved

Functional benefit

Brands

• SmartLoan: Fast funding option for established businesses, up to $100,000 at fixed interest rates with 6-year terms.
• Impact Loan
• FlexLoan

Products and services

• SBA 7(a) Loans

Quantifiable outcome

• 785 loans totaling $309 million in 2023
• +4 more outcomes

Named customers15 records

Segments6 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered flagship, important and supporting.

• SBA (U.S. Small Business Administration)flagshipStrategic or Co-development PartnerPursuit is approved as an SBA Preferred Lender and SBA Express Program lender, offering SBA 504, 7(a), and Microloan products. Pursuit CDC administers SBA 504 loans; Pursuit BDC administers SBA 7(a) loans.
• Goldman Sachs 10,000 Small BusinessesimportantStrategic or Co-development PartnerPursuit partners with Goldman Sachs 10,000 Small Businesses to provide business education and capital resources to entrepreneurs. Joint webinars and events help businesses access practical business education and support services.
• TruSTPLUSsupportingTechnology or IntegrationPartnership with TRUSTPLUS for credit repair services accessible through Pursuit's Business Advisory Services, helping clients improve personal credit scores to qualify for business financing.
• Prudent LenderssupportingTechnology or IntegrationPrudent Lenders provides loan servicing technology and services supporting Pursuit's lending operations as a lender service provider.
• WeWorksupportingOthersPursuit maintains office space at WeWork locations (NYC) for customer meetings and business operations.

Scale indicators14 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Accion Opportunity Fund: CDFI providing small business loans to underserved entrepreneurs across the U.S. Both organizations share a mission-driven model, SBA/Microloan offerings, and one-on-one borrower support model serving similar SMB segments.
• CDC Small Business Finance: Certified Development Company administering SBA 504 loans with a similar consortium-bank ownership structure. Pursuit CDC and CDC Small Business Finance operate nearly identical SBA 504 intermediation models in different geographies.
• TruFund Financial Services: CDFI providing small business loans and advisory services to underserved entrepreneurs. Both organizations offer below-market SBA products, mission-driven lending, and complementary business advisory to similar SMB customers.
• Kiva: Non-profit crowdfunding/crowdlending platform providing microloans to small business owners. Both organizations share a mission to extend credit access to underserved borrowers and women/minority entrepreneurs at small ticket sizes.
• Harvest Small Business Finance: SBA Preferred Lender focused on SBA 7(a) and 504 lending to small businesses nationwide. Operates the same SBA Preferred Lender intermediation model as Pursuit with overlapping product mix and SMB target market.

Broad incumbents

• Live Oak Bank: Public, federally chartered bank specializing in SBA lending and one of the largest SBA 7(a) originators in the U.S. Competes directly with Pursuit in SBA 7(a) but operates at vastly larger scale and national footprint.
• Citizens Bank (SBA Division): Large regional bank with a dedicated SBA lending unit offering SBA 7(a) and 504 products. Competes with Pursuit across the same six-state Northeast footprint but as part of a much broader commercial banking franchise.

Emerging players

• Funding Circle: Online SMB lender providing working capital and term loans to small businesses via a digital platform. Targets the same SMB borrower pool as Pursuit's SmartLoan and Microloan products with a fully digital experience.
• Grameen America: Microfinance non-profit providing small loans to women entrepreneurs in underserved U.S. communities. Shares Pursuit's mission of extending capital to underserved business owners but focuses on microloans rather than SBA products.

Regional players

• California Coastal Rural Development Corporation: California-based Certified Development Company administering SBA 504 loans. Operates the same CDC/SBA 504 intermediation model as Pursuit CDC but serves a different geographic territory in the Western U.S.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/pursuit_lending
• Facebookfacebook.com/pursuitlending
• LinkedInlinkedin.com/company/pursuitlending

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Pursuit