Pursuit Lending offers SBA-backed business loans and alternative financing in Pittsburgh, including 504, 7(a), microloans, and proprietary products up to $500K.
Editorially reviewed by Harvey Brooks
Pursuit Lending operates as an SBA Preferred Lender and SBA Express Program-approved lender serving the Pittsburgh metropolitan area and Western Pennsylvania. The company has funded hundreds of businesses since FY2023 across diverse industries including breweries, salons, healthcare centers, and manufacturers. Their service area spans from neighborhoods like Lawrenceville and Squirrel Hill to surrounding suburbs including Cranberry Township and Monroeville.
Pursuit offers a comprehensive suite of financing products tailored to different business needs. Their SBA offerings include SBA 504 loans (up to $5.5M for owner-occupied commercial real estate), SBA 7(a) and Community Advantage loans (up to $350K for flexible business needs), and SBA Microloans (up to $50K). Beyond SBA products, they provide proprietary options: SmartLoan (up to $100K with flexible repayment), FlexLoan (up to $100K for Western PA startups with minimal first-year payments), Impact Loans (up to $500K at fixed rates), small business lines of credit (up to $100K), and the Pennsylvania SSBCI program (up to $500K at 7.75% fixed). They also offer SBA 504 refinancing options.
Pursuit distinguishes itself through its dual focus on government-backed SBA programs and proprietary products designed for businesses at different growth stages. Their specific tailoring to startups and early-stage companies through FlexLoan, combined with approval under SBA's Preferred Lenders Program, positions them as both accessible and credible. Customer testimonials highlight responsive service and streamlined processes across different loan types.
The primary limitation is lack of transparency regarding exact interest rates, credit requirements, and approval timelines on their website. While they advertise up to $500K financing, specific eligibility criteria remain unclear. The website provides general program descriptions but minimal detail on typical approval rates, processing times, or specific borrower requirements. Entrepreneurs should expect to contact the company directly for personalized rate quotes and terms.
Yes. Start Up Business Loans Pittsburgh is a registered company headquartered in 219 Forbes Ave Suite 200, Pittsburgh, PA 15222. They hold a NR rating with the Better Business Bureau.
CreditDoc Diagnosis
Pursuit is best for established Pittsburgh-area businesses and Western PA startups seeking government-backed SBA financing or flexible proprietary loans in the $50K-$500K range. The main caveat is that the website provides minimal transparency on interest rates, credit requirements, and approval criteria—borrowers should request personalized quotes directly to evaluate actual competitiveness and feasibility before investing application time.
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Read guide →New to credit and lending? Here are the key terms used on this page, explained in plain language with real-number examples.
The total yearly cost of borrowing money, including the interest rate plus any fees the lender charges. Think of it as the 'true price tag' on a loan.
Lenders must show APR by law (Truth in Lending Act) because the interest rate alone can hide fees. Comparing APR across lenders is the most reliable way to find the cheapest loan.
Example
You borrow $10,000 at 6% interest for 3 years, but there's a $300 origination fee. The interest rate is 6%, but the APR is 6.9% because it includes that fee. You'd pay $304/month and $946 total in interest.
The percentage a lender charges you for borrowing their money, calculated on the amount you still owe. It's the lender's profit for taking the risk of lending to you.
Even a 1% difference in interest rate can cost you thousands over a loan's life. Lower rates mean less money out of your pocket.
Example
On a $20,000 car loan for 5 years: at 5% you pay $2,645 in interest. At 8% you pay $4,332. That 3% difference costs you $1,687 extra.
The original amount of money you borrowed, before any interest or fees are added. It's the 'real' amount of your debt.
Your interest is calculated on the principal. Paying extra toward principal (not just interest) is the fastest way to reduce your total cost and pay off a loan early.
Example
You borrow $25,000 for a car. That $25,000 is your principal. Your first payment of $450 might split as $150 toward interest and $300 toward principal, bringing your balance to $24,700.
How long you have to repay the loan, measured in months or years. A shorter term means higher monthly payments but less total interest paid.
Longer terms feel more affordable monthly but cost much more overall. A 30-year mortgage costs almost double in interest compared to a 15-year mortgage on the same amount.
Example
Borrowing $200,000 at 6.5%: A 15-year term costs $1,742/month ($113,561 total interest). A 30-year term costs $1,264/month ($255,088 total interest). You save $141,527 with the shorter term.
A one-time fee the lender charges to process and set up your loan. It covers their costs for underwriting, verifying your information, and preparing paperwork.
Origination fees are usually 1-8% of the loan amount and are often deducted from your loan proceeds — so you receive less than you borrowed.
Example
You're approved for a $10,000 personal loan with a 5% origination fee. The lender deducts $500 upfront, so you receive $9,500 in your bank account but owe $10,000 plus interest.
A person who agrees to repay your loan if you can't. They're equally responsible for the debt, and their credit is affected by your payment behavior.
Cosigning helps people with thin credit get approved or get better rates. But it's a huge risk for the cosigner — they're on the hook for the full amount if you default.
Example
A parent cosigns their child's $30,000 student loan. The child stops paying after 6 months. The parent is now legally required to make the payments or face collections, lawsuits, and credit damage.
The process where a lender evaluates your finances — income, debts, credit history, assets — to decide whether to approve your loan and at what rate.
Understanding what underwriters look for helps you prepare a stronger application. They check your DTI ratio, employment stability, credit score, and the asset's value.
Example
You apply for a mortgage. The underwriter reviews your pay stubs (income), bank statements (savings), credit report (history), and orders an appraisal (home value). This takes 2-4 weeks.
Want to learn more? Read our Financial Wellness Guides for in-depth explanations and practical advice.
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