Business Loans in Pittsburgh, PA
Pittsburgh: Ideal for entrepreneurs and innovators
When entrepreneurs and innovators want to launch, grow or relocate a business, there’s no better place than Pittsburgh. There are great options for small business loans in Pittsburgh that can provide key financing to grow and thrive.
The Pittsburgh metro region is revitalized, dynamic and home to more than 2.3 million people, including a new generation of young entrepreneurs who have found that it’s easy to work, live and play here: Adults ages 25-34 are Pittsburgh’s fastest-growing population group.
Pittsburgh also offers:
- affordable commercial and residential real estate
- a highly skilled and educated workforce
- quick and easy access and transport to Northeast, Great Lakes, mid-Atlantic and midwestern markets, as well as Canada
And locals and visitors alike enjoy Pittsburgh’s major-league football, baseball and hockey teams, dozens of world-caliber museums and galleries and abundant leisure activities – all of which provide outstanding opportunities for the businesses that serve them.
These reasons and more are why Pittsburgh is consistently ranked as one of the best cities in which to live and work by The Economist and other leading surveys.
A national leader in tech investment
Pittsburgh’s economic history was built on heavy industry: steel, energy and manufacturing. Today, the city is a national leader in technology with more than 1,600 firms here, including major operations for Alphabet/Google, Uber and Apple.
According to an InnovationWorks.org report on tech investment in Pittsburgh, “…investment increased more than 5X from $550 million in 2018 to almost $3.0 billion driven by $2.0 billion of corporate investment and $928 million of venture capital investment.” Additionally, “…the number of local investment deals increased 51% from 2010 to 2019 and 139 unique Pittsburgh area startups attracted funding.”
Innovation is powered by research and development partnerships and an educated workforce matriculating from Pittsburgh’s 68 colleges and universities. Among them, the University of Pittsburgh, Duquesne University and Carnegie Mellon University are located in Pittsburgh and have top-rated research and technology programs.
Strong roots and local support
Hometown business favorites Dicks Sporting Goods, Heinz and American Eagle Outfitters are among dozens of national and global companies that launched and remain headquartered here.
The city’s forward-looking and business-friendly economic climate are key reasons why entrepreneurship is growing here, too. Business owners also benefit from incentives and support programs such as the Tax Increment Financing program and the Small Business and Neighborhoods Group.
Pursuit loans power a new generation of Pittsburgh businesses
Pursuit has small business loans in Pittsburgh that are perfect for any small business. Among the most popular are:
- SBA 504 loans that offer up to $5.5 million for commercial real estate purchases, renovations and construction; equipment and machinery; and related debt refinancing. Additional benefits include fixed interest rates, up to 90% financing and repayment terms over 25 years for lower monthly payments.
SBA 504 loans are ideal for Pittsburgh’s established and growing businesses in tech, advanced manufacturing, research and development and others that need commercial space and equipment.
- SBA Community Advantage loans up to $250,000. These loans provide general business financing to businesses operating in Pittsburgh’s underserved communities. They can be used for most business needs and are ideal for tech startups and expansions, healthcare innovators and financial companies in metro Pittsburgh, as well as companies that provide products and services to support them.
- Pursuit SmartLoans, which are a flexible option for small businesses that need quick access to fixed-interest loans up to $100,000, with no prepayment penalties. SmartLoans help businesses in areas such as retail, restaurants and hospitality, seasonal endeavors, sports and leisure outfitters and more to get the financing they need with affordable terms.
Learn more ways that Pursuit can help
Whether you’re ready to apply or just want to learn more, contact Pursuit – our business advisors are available to help or you can explore loan options and apply online. We have decades of experience as a not-for-profit business lender and we offer access to a range of affordable small business loan options that can help your business grow and succeed.