Business Loans in Philadelphia, PA
Where Business Opportunities Abound
Philadelphia is synonymous with our country’s founding and today, it’s also emerging as one of the East Coast’s top locations for entrepreneurs. It’s easy to see why, too, because it has everything you want and need to fuel success. You also find there are many options for small business loans in Philadelphia to start or expand your business.
Beginning with the city’s roots as a hub of innovative thinking and now, as a center for creative energy that touches every industry, Philadelphia’s entrepreneurial climate begins in its top universities and colleges. They include the University of Pennsylvania and its esteemed Wharton School of Business, as well as Temple University, Villanova, St. Joes and Drexel, which have fostered some of the greatest minds in business.
Philadelphia’s appeal is strengthened by its proximity to the New York metropolitan area, Washington, D.C., and the Delaware/Maryland/Virginia areas. And the economic strength that made it an arts and cultural destination for decades is reemerging today: Our educated, talented and diverse graduates choose to stay, thanks to a dynamic social scene, a low cost of living and proximity to East Coast cities.
For those seeking some quiet from the busy Downtown can easily commute from surrounding areas. Suburbs such as Swarthmore, Fort Washington, Bryn Mawr, Conshohocken, and Ardmore are just some of the many quiet, commuter-friendly neighborhoods outside of Philadelphia.
- Technology: When Comcast® built its headquarters here in 2006, it launched a wave of investment in technology-related businesses. As future-facing technologies are developed, new opportunities are also emerging for businesses within the industry, as well as for those that serve them.
- Arts, culture and tourism: Philadelphia’s tradition of arts and culture continues with artmaking co-labs and studios, emerging music and performance venues, festivals and more. Once-empty storefronts are transformed into galleries and abandoned industrial complexes are evolving as mixed-use live/work/create spaces. And our city attracts visitors from throughout the state, the metropolitan New York region and the East Coast and our restaurants, retail shops, boutique inns and destination venues all benefit.
- Services to educational institutions and students: The region has a significant population of students, faculty and staff at the post-secondary level and businesses that service their ever-evolving needs and interests thrive here.
Neighborhoods that support business development
While Center City has been the corporate hub for decades, many businesses are sprouting up in areas that are undergoing redevelopment and are supported by business incentives, too. They include:
Fishtown: This affordable and energetic neighborhood is home to galleries, bars and restaurants, eclectic retail shops and specialty-goods producers, such as bakeries and health-food shops.
Northern Liberties: This former industrial enclave hosts festivals, craft breweries and many of Philadelphia’s favorite restaurants and music venues.
Kensington: Like many Philadelphia neighborhoods undergoing revitalization, Kensington holds great potential for entrepreneurs who want to make a difference. It offers tremendous opportunities for small businesses with several incentives available that make this affordable area one of Philadelphia’s next success stories.
Pursuit funds Philadelphia businesses
- Pursuit SmartLoans, available up to $100,000. These are ideal when you need working capital for staff, inventory, marketing, office equipment and more. They offer a simple, online application and approvals in two business days to help you launch, grow and meet your business goals.
- SBA 7(a) Loans are great for businesses that need general financing beyond the limits of our SmartLoans, with funding up to $5 million for industries such as retail, arts and culture, tourism, hospitality, professional services and food-and-beverage businesses.
- SBA 504 loans are the option you need when your business goals include the purchase, construction or renovation of commercial real estate. They’re also the go-to loan for businesses that need specialized locations and equipment, such as advanced manufacturing and machining, health care and technology, with:
- Repayment terms up to 25 years to make payments more affordable
- Fixed interest rates
- Financing up to 90% and loans up to $5 million
Philadelphia Success Stories
Fund your ambition in the Philadelphia area with Pursuit
Pursuit offers a wide variety of business loans in Pennsylvania, and our Philadelphia team loves helping businesses as much as we love our cheesesteaks. Talk to us today and learn more about how we can help you achieve your business goals. Contact us today.