Pursuit Microloan
An even more affordable, fast funding option for established businesses.
Sometimes it only takes a small boost of capital to get your business on track for success. In these cases, the Pursuit Microloan program is the perfect fit for your business. Youâll be able to take advantage of a fast and efficient application and approval process, with lower interest rates and fees, and a longer term to keep your monthly payments affordable.
The Pursuit Microloan can be used for nearly any business financing need, from working capital, to refinancing high-cost debt, to equipment upgrades and more. Restaurants, wellness centers, architecture firms, manufacturers, brick-and-mortar retail stores and others have all used the Pursuit Microloan program to get business funding when growth is on the horizon.
Reduced interest rate
Approved loans funded in one week
No prepayment penalty
Pursuit Microloan Details
- Loan amount: $10,000 to $50,000
- Interest rate: maximum 9.125%
- Term: 6 years
- Fees: 3% commitment fee, which is financed into your loan
- Decision sent within two business days of submitting a complete loan application (including all required documentation)
- Time to funding: within 5 business days of approval
Is the Pursuit Microloan right for me?
Established businesses can use the Pursuit Microloan program to support their financing needs. If your business has a break-even or positive cash-flow, and a history of paying its debts, then youâre a good candidate for the Pursuit Microloan. To be considered for automatic approval, you must meet the following requirements:
- Two or more years in business
- Employs two or more people
- Business has cash flow thatâs positive or break-even
- Ownerâs personal credit score is 640 or higher
- More than $120,000 in annual revenue
- No liens or judgments filed for you or your business within the last 3 years
- Business and owner have no prior bankruptcies
Even if you donât meet some of the requirements above, give us a call. You can still work with Pursuit to reach your goals. Find out if youâre eligible for our free business advisory services, which can help you get loan-ready, repair your credit and improve your businessâs financial picture for the future.
Please note that we do not lend to money-service businesses; âpassiveâ businesses engaged in owning, purchasing, leasing, or re-selling real estate or other assets; or those operating in sin industries.
What can you use the Pursuit Microloan for?
The Pursuit Microloan program is versatile, and you can use it for almost any business purpose. With lower loan amounts available at a lower interest rate, and no prepayment penalty, you can use a Microloan to bridge a financing gap now, and pay it back as quickly as you want.
Many business owners have used the Microloan to finance working capital needs in a pinch, support upgrades and expansions for their businesses, or to kickstart new marketing and promotion initiatives. In particular, the SBA Microloan program is a great fit for:
- Working capital
- Equipment purchase
- Technology improvements
- Debt refinance
- Leasehold improvements
With the Pursuit Microloan, youâll find an affordable and responsible option for smaller financing needs, and one-on-one support to help you every step of the way. How will you use your Microloan?
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Learn how other business owners have used this program to fuel their ambition:
The SBA Microloan program is administered by Pursuit Community Finance.Â
