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Pursuit business loans review

Funding up to $100K with an 11.9% APR for everyone.’s rating: 3.9 / 5.0


  • Best for affordable small business loans under $100,000.
  • Pick something else if you have a startup or sole proprietorship.


Min. Amount$10,000
Max. Amount$100,000
Loan TermUp to 60 months
Min. Credit Score640
APRStarting from 11.9%
Requirements2+ years in business, 2+ employees, break-even or positive cash flow, average owner credit score of 640+, $120,000+ annual revenue, no liens or judgments filed within the past 3 years, no prior owner or business bankruptcies, eligible industry

First, do I qualify?

You must meet the following requirements at a minimum to qualify for a business loan from Pursuit:

  • Two or more years in business
  • Two or more employees
  • Break-even or positive cash flow
  • Average owner credit score of 640 or above
  • Over $120,000 in annual revenue
  • No liens or judgments in the past three years
  • No prior owner or business bankruptcies
  • Eligible industry 

What makes Pursuit unique?

Pursuit's nonprofit status as a CDFI makes it possible to offer the same affordable rate to all borrowers: 11.9%. As a community-centered lender, it’s on a mission to boost job growth in New Jersey, New York and Pennsylvania — though it works with business owners in all 50 states.


  • Everyone gets a 11.9% APR
  • Mission to boost job growth in NJ, NY and PA
  • No prepayment penalty


  • No one-person business
  • 5% commitment fee when you get approved
  • Requires lien on business assets and personal guarantee
  • Five days to get your funds

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Lendio business loans
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Submit one simple application to potentially get offers from a network of over 300 legit business lenders.

OnDeck short-term loans
Finder Rating: 4.6 / 5: ★★★★★

OnDeck short-term loans
As low as 35%
600+ personal credit score, 1 year in business, $100,000+ annual revenue, active business checking account
A leading online business lender offering flexible financing at competitive fixed rates.

Biz2Credit business loans
Finder Rating: 4.7 / 5: ★★★★★

Biz2Credit business loans
Starting at 6.50%
6+ months in business; $100,000+ annual revenue; 500+ credit score
Get only the capital you need through secure, prescreened lenders with this highly rated company offering SBA, expansion, working capital and other loans.

ROK Financial business loans
Finder Rating: 4.7 / 5: ★★★★★

ROK Financial business loans
Starting at 6%
Eligibility criteria 3+ months in business, $15,000+ in monthly gross sales or $180,000+ in annual sales
A connection service for all types of businesses — even startups.

Fundbox lines of credit
Finder Rating: 4.2 / 5: ★★★★★

Fundbox lines of credit
Not stated
6 + months in business, $100,000+ in annual revenue, 600+ credit score
Get flat rate, short-term financing based on the financial health of your business, not your credit score.

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How do I apply?

You can apply online, over the phone or even in person at one of Pursuit’s New Jersey, New York or Pennsylvania offices. Here’s how to get started online:

  1. Go to the Pursuit website.
  2. Click Apply now.
  3. Enter your desired loan amount and business ZIP code.
  4. Select your time in business, loan purpose and credit score range.
  5. Enter your email and create a password to set up an account. Click Next.
  6. Follow the directions to answer questions about your business, yourself and other owners, clicking Next between sections.
  7. Upload any required documents.
  8. Review your answers and submit your application.

What documents do I need to apply?

While it depends on your application, you likely need to provide the following documents at a minimum:

  • Year-to-date accounting information
  • Most recent business tax returns
  • Most recent personal tax returns

How do repayments work?

Pursuit’s SmartLoans come with fixed monthly repayments that can last up to five years. You can find information about your loan term, due date and how much you owe by looking at your loan contract. If you have any questions or concerns, reach out by calling 866-466-9232. Customer service representatives are available weekdays between 9 a.m. and 5 p.m. ET.

Find out how Pursuit compares to other providers by reading our guide to business loans.

Business loan ratings

★★★★★ Excellent
★★★★★ Good
★★★★★ Average
★★★★★ Subpar
★★★★★ Poor

We rate business loan providers on a scale of 1 to 5 stars based on factors like transparency, costs and customer experience. We don't take into account elements like eligibility criteria, state availability or payment frequency — we save that for our reviews.Read the full methodology of how we rate business loan providers to get a better picture of what goes into each star rating.

Review by

Anna Serio is a trusted lending expert and certified Commercial Loan Officer who's published more than 1,000 articles on Finder to help Americans strengthen their financial literacy. A former editor of a newspaper in Beirut, Anna writes about personal, student, business and car loans. Today, digital publications like Business Insider, CNBC and the Simple Dollar feature her professional commentary, and she earned an Expert Contributor in Finance badge from review site Best Company in 2020.

Expert review

Pursuit, formerly Excelsior Growth Fund, is a community development financial institution (CDFI) with a focus on small businesses in New Jersey, New York and Pennsylvania — though businesses across the country can qualify.

Its SmartLoan could be a great option if your business is looking for a loan under $100,000 and you usually qualify for rates on the higher end — all qualifying businesses get an 11.9% APR. But that includes a 5% commitment fee for taking out the loan, and you can’t qualify if you’re a startup or sole proprietorship.

Not sure Pursuit is right for you? Compare your other business loan options below.

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