Pursuit — CDFI Small Business Loans
Pursuit
$10,000–$500,000
Mission-driven CDFI loans where banks say no
Pursuit is a leading nonprofit CDFI and SBA Preferred Lender serving small businesses in New York, New Jersey, Connecticut, Pennsylvania, Illinois, and Delaware. For 65+ years it has provided fair, flexible financing to founders that conventional banks underserve — immigrants, minority owners, early-stage companies, and businesses in low-income corridors. Products range from quick SmartLoans ($10K–$100K, 5-day funding) to flexible ImpactLoans up to $500K for established businesses, plus SBA 504 and Microloan programs. Pursuit bundles free business advisory services alongside every loan.
- Funding type
- Loan
- Level
- Private
- Amount range
- $10,000 – $500,000
- Realistic amount
- Most Pursuit SmartLoan borrowers take $25,000–$75,000 for working capital or equipment. ImpactLoan typical draw is $150,…
- Deadline
- Rolling — applications accepted year-round with no intake windows.
- Status
- active
- States
- NY, NJ, CT, PA, IL, DE
- Payment model
- loan
Who qualifies
- Business must be located in New York, New Jersey, Connecticut, Pennsylvania, Illinois, or Delaware
- SmartLoan: minimum 2 years in business, personal credit score of at least 640, minimum 2 employees, annual revenue no more than $120,000
- ImpactLoan: minimum 2 years in business, strong cash flow and collateral required, no revenue ceiling stated
- SBA Microloan: available to startups and businesses with limited credit history
- For-profit businesses (Pursuit also serves select nonprofits)
- ITIN (Individual Taxpayer Identification Number) accepted in lieu of SSN
- Priority focus on underserved communities, minority-owned, women-owned, and immigrant-owned businesses — but program is open to all eligible applicants
Hard requirements
- Location restriction: NY, NJ, CT, PA, IL, or DE
What it covers
Eligible expenses
- Working capital and operating expenses
- Equipment and machinery
- Inventory
- Leasehold improvements
- Commercial real estate (SBA 504)
- Hiring and payroll
- Marketing and technology
Ineligible expenses
- Personal expenses
- Speculative investments
- Refinancing of non-Pursuit personal debt (case-by-case for business debt)
- Businesses located outside NY, NJ, CT, PA, IL, or DE
How to apply
-
1
Select your loan product online
Visit pursuitlending.com/business-loans/products and identify the product that fits your need: SmartLoan (fast, <$100K), ImpactLoan (larger, collateral-backed), SBA Microloan, or SBA 504. Each has a separate application portal.
~0.5 hrs
-
2
Complete the online application
Provide basic business info, ownership structure, requested amount, and loan purpose. Pursuit's online portal is streamlined — basic intake takes 30–45 minutes.
~0.75 hrs
-
3
Submit financial documents
Pursuit will request: 3–12 months of business bank statements, most recent 1–2 years of business tax returns, year-to-date profit & loss statement, and a brief description of loan purpose. ImpactLoan also requires collateral documentation (equipment appraisals, real estate, business assets).
~3 hrs
-
4
Loan officer review
A dedicated Pursuit loan officer reviews your file and may request clarification. SmartLoan decisions in as few as 5 business days. ImpactLoan typically 2–4 weeks. Pursuit provides free advisory support throughout.
~0.5 hrs
-
5
Sign agreement and receive funds
Approved borrowers sign loan documents digitally. Funds disbursed via ACH. Pursuit also connects borrowers to free business advising through their resource network.
~1 hrs
SmartLoan's 640 credit score minimum and 5-day funding make it the fastest path among CDFI lenders in the Northeast — useful for time-sensitive inventory or equipment needs.
Deadline & timing
Pursuit accepts applications on a rolling basis. SmartLoans can be approved and funded in as few as 5 business days after a complete application is submitted. ImpactLoan timelines vary based on underwriting complexity.
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Last reviewed 2026. GrantCompass is an independent funding-discovery tool and is not affiliated with any government agency. Always confirm details on the official program page.