Business Loans in Buffalo, NY
Great People, Great Lakes and Great for Business
The Buffalo Niagara region has everything entrepreneurs want: A growing metropolitan area, skilled and educated residents, affordable commercial and residential real estate, and a range of cultural and leisure activities that optimize its location, surrounded by two Great Lakes (Erie and Ontario) and the Niagara River to the north and west and abundant greenspace to the east and south. And there are many options for small business loans in Buffalo that can help you start and grow your business.
Best of all, it’s known as “the City of Good Neighbors” and people here are deeply loyal to small businesses that start, expand and relocate here. And for those looking for a quiet escape from the city, Buffalo has great surrounding suburbs such as Williamsville, Eggertsville, East Aurora, and Clarence Center.
A regional renaissance in Western New York
Savvy entrepreneurs know what people all over the country are discovering: Buffalo’s in the midst of a steady economic revitalization.
Along with that, the city’s historic neighborhoods are evolving, too, and as buildings are renovated and the economy is revitalized, entrepreneurs in every industry find inspiration and opportunities. It’s also a culture that supports entrepreneurial spirit and innovation, with a dozen business competitions, including 43 North with prizes up to $1 million, and mentoring and funding partnerships like Launch NY.
Helping to fuel growth, Buffalo Niagara is home to nearly two dozen colleges and universities. They include several State University of New York campuses, with the system’s largest research university, University at Buffalo, and Buffalo State College, one of the largest teaching and arts campuses, as well as many liberal arts colleges.
In addition, special initiatives like the Northland Workforce Training Center provide training in advanced manufacturing, construction and welding to meet the growing demand for 21st-century skills.
Industry specialties in Buffalo
Buffalo Niagara welcomes new and expanding small businesses in every industry and several are leading the renaissance:
- Health and wellness businesses, from significant biomedical and life-science initiatives on and around the Buffalo Niagara Medical Campus, to service-based businesses like yoga studios, day spas and other niche offerings in neighborhoods throughout the region.
- Technology-based initiatives, particularly those that leverage the area’s abundant natural resources in ways that are sustainable and beneficial for the waterways and land, from clean energy to advanced manufacturing and agriculture.
- Restaurants, commercial kitchens, craft breweries, distilleries, wineries and retail shops, and arts and entertainment niche businesses, especially around bustling neighborhoods like Elmwood Village, North Buffalo, downtown and Allentown, and in re-emerging neighborhoods like the East Side, Larkinville, Canalside and Black Rock.
Building Buffalo, one business loan at a time
Pursuit offers a range of small business loans in Buffalo that fuel business success. They include:
- SBA 504 loans for commercial real estate acquisitions, renovations and construction, equipment purchases and business-debt refinancing. They’re ideal for advanced manufacturing and agriculture, green energy, biomedical sciences, technology and other businesses that require specialized locations and equipment.
Among the benefits are:
- Up to 90% financing for loans up to $5 million
- Fixed interest rates
- Repayment terms up to 25 years
- SBA 7(a) loans up to $5 million are the leading choice for most businesses, including food-and-beverage, retail, hospitality and other service-based businesses.
- The Pursuit SmartLoan which is a great option for businesses with lower startup costs or that need an influx of capital for staff, inventory, marketing, small equipment and other day-to-day expenses. These loans are available from $10,000 to $100,000, the online application process is simple and approvals typically take just two business days.