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Business borrowers who need to seek loans outside of traditional banks now have a single source: Pursuit.
Pursuit is the new name for the New York Business Development Corporation and two nonprofit affiliates, The 504 Company and the Excelsior Growth Fund.
The three entities continue to operate individually in some ways – repayments of current loans, for example — but applications now can be done through a single portal.
“Our organizations have always worked together to provide the best lending solutions for our borrowers and will continue to do so,” said Pat MacKrell, Pursuit’s president and CEO. “This rebrand allows us to go to market together, enhancing our ability to provide the most advantageous loan option to our clients while simplifying our process.”
The trio of lenders has 15 loan products available to businesses in New York, New Jersey and Pennsylvania. Pursuit’s new website, www.pursuitlending.com, simplifies the process of identifying and applying for loan products, including U.S. Small Business Administration loans and fast online loans.
The lenders now known as Pursuit have had a major influence in the Rochester area. A total of $6.1 million was loaned to businesses here in the year ending September 2019, and some $18.2 million was loaned to Rochester-area businesses in the last five years.
Such companies as Royal Car Wash, Vertex Optics, Avani Technology Solutions and Optimax Systems have obtained financing through the affiliates, according to Pursuit.
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