Pennsylvania Small Business Credit Initiative (SSBCI)

What is the PA SSBCI loan program?

The PA SSBCI program offers affordable financing for small businesses like yours, who want to grow, overcome challenges, and take on new opportunities. You can apply for up to $500,000 at a fixed interest rate of just 7.75% to give your business a working capital boost.

PA SSBCI loan program details

• Loan amount: up to $500,000
• Interest rate: fixed at 7.75%
• Term: 5 years
• Fees: 3% closing fee, which is financed into the loan

Is the PA SSBCI loan program right for me?

If your Pennsylvania-based business is looking for financing and you’ve been in operation for two or more years, you could be a good fit for the PA SSBCI program! Here’s what you’ll need for automatic approval for this PA business loan:

• Your business is located in Pennsylvania
• You’ve been in business for 2 or more years
• You have 2 or more employees
• Your cash flow is break-even or positive
• Your personal credit score is 640 or higher
• Your business is not home-based
• You have more than $120,000 in annual revenue
• You don’t have any tax liens or judgments filed within the last 3 years for you or your business
• You and your business don’t have any prior bankruptcies

If you don’t meet all the requirements above, you can still apply with Pursuit! We offer more than 15 different business loan programs that can support nearly any business need. You may also be able to use our advisory services to get loan-ready and strengthen your loan application.

Please note that we do not lend to money-service businesses; ‘passive’ businesses engaged in owning, purchasing, leasing, or re-selling real estate or other assets; or those operating in sin industries. 

What can I use the PA SSBCI loan program for?

One of the best features of the PA SSBCI program is its versatility. You can use your funding in many ways to keep your business moving forward. Use your loan to:

• increase your working capital
• buy the equipment you need for efficiency
• upgrade your technology to the latest edition
• make leasehold improvements to your space
• and so much more

With funding through the PA SSBCI program, you’ll get a loan that works for you now and in the future. Whether you’re in Pittsburgh, Philadelphia, or Central PA, a loan from the PA SSBCI program can take your business from surviving to thriving. How will you use your small business loan?

Here’s how we’ve worked with other Pennsylvania businesses: