At a glance
From its website, read 2 Nov 2026NYBDC Local Development Corporation is a loan fund based in Latham, New York. Its website describes commercial real estate loans, equipment loans, microloans and 2 other loan types. Stated loan amounts run from $10,000 to $5.5M. Where it lends: Businesses in Connecticut, Delaware, Illinois, New Jersey, New York and Pennsylvania. Business loan rates stated on its site range from 7.75% to 11.9%. You can start an application online.
Each point is backed by a quote further down this page. Terms change: confirm with the lender.
How to reach them and apply
| Toll-free | (866) 466-9232 source |
|---|---|
| Apply online | Page with the application link |
| Website | www.pursuitlending.com |
| Office (official list) | 19 British American Blvd. East, Latham, NY 12110 |
What their website says about applying
A written business plan (or equivalent document) and 2 years of financial projections
sourcePersonal tax returns from the past 2 years
sourceor call 1-866-466-9232 between 9am and 5
sourceSubmit your application online and you’ll work with our team
source
Phone numbers and addresses are the ones on the lender's own site and the CDFI Fund list. CDFI Atlas does not take applications.
Rates and terms they state
Read 2 Nov 2026| Loan | Stated | Text on the lender's site (verbatim) | Page |
|---|---|---|---|
| Loans (general) | Rate stated, not as an APR: see their wording | fixed at 6.75% | source |
| Microloans | Rate: up to 9.125% | maximum 9.125% | source |
| Small-business loans | Rate: 7.75% | reduced rate of 7.75% | source |
| Small-business loans | Rate: 9.9% | 9.90% fixed | source |
| Small-business loans | Rate: up to 11.9% | capped at 11.9% | source |
| Microloans | Term: up to 6 yr | SBA Microloan terms are 6 years | source |
| SBA-backed loans (7(a)/504/Community Advantage) | Term: 10 yr–25 yr | Terms of 10-, 20- and 25 years are available | source |
| Small-business loans | Term: up to 6 yr | 6 years; first year of interest-only payments | source |
As published on the lender's website on that date, not an offer or a quote. Your rate depends on the lender's review. A missing rate means the pages we read did not state one. For consumer loans we repeat a rate only when the lender states it as an APR (annual percentage rate, which includes fees); otherwise read the lender's own wording and ask for the APR.
Who qualifies, in their words
- Business plan required
A written business plan (or equivalent document) and 2 years of financial projections
source
Only rules the lender's own pages state. Other requirements may apply.
Official record
CDFI Fund list, 21 Oct 2026| Institution type | Loan fund |
|---|---|
| Native CDFI | No |
| Date certified (as listed) | 15 Jan 2026 |
| RSSD ID | — (none listed) |
| Address | 19 British American Blvd. East, Latham, NY 12110 Directions (Google Maps) |
| Website | www.pursuitlending.com |
Head officeBranch or officeApproximate (ZIP code area)
Map data © OpenStreetMap contributors, © OpenMapTiles, tiles OpenFreeMap. Head-office points: U.S. Census Bureau geocoder.
Loans and eligibility
Verified from lender site on 2 Nov 2026Read from 7 pages of the lender's website on 2 Nov 2026. Quotes are verbatim. Extracted with AI help from the pages listed below and checked automatically against them. Not reviewed by a person. Confidence: high. Terms change — confirm with the lender before applying.
| Product | Amount stated | Text on the lender's site (verbatim, incl. menu labels) | Page |
|---|---|---|---|
| Commercial real estate loans | — | Access below-market rates and up to 90% financing for commercial mortgages. | source |
| Equipment loans | — | Give your business a lift with flexible and affordable equipment financing. | source |
| Microloans | up to $50,000 | The Microloan program provides loans up to $50,000 to help small businesses and certain not-for-profit childcare centers start up and expand. | source |
| SBA-backed loans (7(a)/504/Community Advantage) | from $50,000 | Low, fixed-interest rate funding from $50,000 to $5.5 million and beyond for owner-occupied commercial real estate purchase, heavy equipment purchase, or debt refinance. | source |
| Small-business loans | $10,000 – $5.5M | Small business loans from $10,000 - $5,500,000 | source |
Loan sizes
$50,000 to $5.5 million for the 504 portion of the loan.
sourceThe Microloan program provides loans up to $50,000 to help small businesses and certain not-for-profit childcare centers start up and expand.
sourceThrough this program, you can access up to $100,000 in funding at a fixed interest rate with affordable monthly payments.
sourceSmall business loans from $10,000 - $5,500,000
source
Range used for the size filter: $10,000 to $5.5M
Service area
Businesses in Connecticut, Delaware, Illinois, New Jersey, New York and Pennsylvania
Supporting businesses in Connecticut, Delaware, Illinois, New Jersey, New York and Pennsylvania.
source
Statewide: Connecticut, Delaware, Illinois, New Jersey, New York, Pennsylvania
Borrower focus
Languages
- No non-English service found on the pages we read.
Online application
Yes — the site links to an application. Start a small business loan application online where and when it works for you.
source
Pages read (7)
- https://pursuitlending.com/
- https://pursuitlending.com/business-loans/products/
- https://pursuitlending.com/business-loans/products/sba-504/
- https://pursuitlending.com/business-loans/products/veterans/
- https://pursuitlending.com/business-loans/products/microloan/
- https://pursuitlending.com/business-loans/products/smartloan/
- https://pursuitlending.com/business-loans/products/flex-loan/
Questions to ask when you contact them
Based on what their website said when we read it on 2 Nov 2026, and what it left out. Something missing here does not mean they don't offer it: ask.
- Do you offer free coaching or help preparing my application?
CDFI certification requires development services, such as training or advice, alongside lending. - What documents will you need from me, and how long does a decision usually take?
Their website describes some application steps (above); ask for the full document list.
Write down the answers, who you spoke to and the date, and ask for the terms in writing before you sign.
CDFI Fund awards
CDFI Fund database, 3 Nov 2026$6.5 million in 6 awards from the U.S. Treasury's CDFI Fund, 2019–2024 (CDFI Equitable Recovery Program; CDFI Program, Financial Assistance; CDFI Rapid Response Program).
| Round year | Program | Amount |
|---|---|---|
| 2024 | CDFI Program, Financial Assistance | $900,000 |
| 2022 | CDFI Equitable Recovery Program | $1,735,187 |
| 2022 | CDFI Program, Financial Assistance | $610,000 |
| 2021 | CDFI Rapid Response Program | $1,826,265 |
| 2020 | CDFI Program, Financial Assistance | $750,000 |
| 2019 | CDFI Program, Financial Assistance | $714,000 |
These are awards and investments made to the institution itself to build its capital and capacity. They are not loans to borrowers, and an award does not mean the lender has money available for a particular loan today.
Source: CDFI Fund Searchable Awards Database, all 12,628 award records (1996–2025), read 3 Nov 2026. Years are the award round as the database lists it. Matched to the official CDFI list by exact name and state; see the method on the About page.
Size of the fund (IRS Form 990)
Fiscal year ending Sep 2023| Total assets | $46.5M |
|---|---|
| Total liabilities | $22M |
| Net assets | $24.5M |
| Total revenue | $12.3M |
| Notes and loans receivable, net (Part X line 7) | $33M |
| Program-related investments (Part X line 13) | $5M |
End-of-year figures from the Form 990 this organisation filed with the IRS for the fiscal year ending September 2023 (tax year 2022; EIN 26-4032355, filed as “NYBDC LOCAL DEVELOPMENT CORPORATION”), taken from the IRS Annual Extract of Tax-Exempt Organization Financial Data (returns processed in 2024). Figures are self-reported to the IRS, not audited by us, and lag one to two years behind today. The lender’s own annual report may show newer numbers. This organisation’s filings on ProPublica Nonprofit Explorer
Filings over time
| Fiscal year ending | Total assets | Net assets | Revenue | Notes and loans receivable |
|---|---|---|---|---|
| Sep 2021 (990) | $56.6M | $14.3M | $11.7M | $47.1M |
| Sep 2022 (990) | $39.8M | $20M | $11.4M | $26.3M |
| Sep 2023 (990) | $46.5M | $24.5M | $12.3M | $33M |
Total assets fell 18% from Sep 2021 to Sep 2023; notes and loans receivable fell 30%. One row per fiscal year in the IRS extracts of returns processed in 2022, 2023, 2024; “—” = the line was empty or zero on that return (a fund can book its loans on other lines).
How it compares
Computed from public data| Measure | This lender | Compared with |
|---|---|---|
| Median SBA 7(a) loan it approved, FY2020–FY2026 | $184,500 (68 loans) | All 7(a) lenders in New York: $130,000. Larger than the median loan of 56% of the 97 other certified CDFIs with 10 or more 7(a) loans. |
| Variable-rate 7(a) loans: rate over prime at approval, FY2024–26 | median 2.75 pts, half between 2.75 pts and 2.88 pts (27 loans; 0% at the SBA maximum) | All lenders in New York: median 3 pts, 15% at the maximum (10,377 loans). |
| SBA approvals, FY2023–24 → FY2025–26 | 26 → 21 | Rank among the 9 certified CDFIs in New York with SBA approvals in either period: 2 → 2. |
| Largest loan its website states | $5.5M | Other loan funds whose website states a maximum: median $250,000. Higher than the stated maximum of 89% of these 184. |
| Total assets, latest IRS Form 990 | $46.5M | Larger than 69% of the 39 other certified loan funds and venture funds in New York with a matched Form 990 (median $12.6M). |
| Business loan rate its website stated (2 Nov 2026) | 7.75% to 9.90% | Prime rate that day: 7.00% (FRED DPRIME), so the lowest stated rate is 0.75 pts above prime. For an SBA 7(a) variable-rate loan the legal maximum is prime plus 3 to 6.5 points, by loan size. |
How these comparisons were worked out
| Measure | Peer group (this lender left out) | Peers | Where this lender sits |
|---|---|---|---|
| Median SBA 7(a) loan | certified CDFIs with 10+ 7(a) loans, nationwide | 97 | larger than 56% |
| Rate over prime | all variable-rate 7(a) loans in New York, FY2024–26 | 10,377 | median 2.75 pts vs 3 pts |
| SBA approvals then vs now | certified CDFIs in New York with SBA approvals FY2023–2026 | 8 | rank 2 → 2 of 9 |
| Largest stated loan | other loan funds stating a maximum, nationwide | 184 | higher than 89% |
| Form 990 total assets | certified loan and venture funds with a Form 990, in New York | 39 | larger than 69% |
“Larger than X%” = the share of the peer group with a smaller value. Ranks count from the largest. Peer groups use the lender's home state when it has at least 5 peers, otherwise the whole country. Full definitions: methodology.
For comparison, not an offer and not a rating. Past records show what this lender did, not what you would be offered; your rate depends on the loan and on the lender's review. Peer groups and sources: methodology. SBA 7(a) & 504 FOIA data as of 30 Sep 2026. Form 990 figures: IRS annual extracts (see the Form 990 section). Prime rate: FRED DPRIME.
SBA loans approved
SBA data as of 30 Sep 2026The SBA's public loan data lists 75 SBA-backed approvals for NYBDC Local Development Corporation in fiscal years 2020–2026 (October 2019 to September 2026):
- 68 7(a) loans as the lender: $14M in total (gross amount approved), median $184,500
- 7 504 projects as the third-party (first-lien) lender: $11.7M in total (its own third-party loan amount), median $1.5M
By fiscal year: FY2020 7 · FY2021 11 · FY2022 10 · FY2023 13 · FY2024 13 · FY2025 10 · FY2026 11.
What actually happened
- Size of its 7(a) loans: half were between $150,000 and $261,000, median $184,500 (68 loans)
- Term of its 7(a) loans: median 120 months (10 years) (68 loans)
- Interest rate at approval on its 7(a) loans in FY2025–26: median 9.75%, half between 9.50% and 10.25% (20 loans; SBA's initial rate, before any change on a variable loan)
- Fixed or variable: 7% of its 7(a) loans had a fixed rate (68 loans)
- Young businesses: 64% of its 7(a) loans went to a startup or a business two years old or less (67 loans with an answer)
Descriptive only: what the SBA file records for loans this lender approved in fiscal years 2020–2026. Each figure covers at least 10 loans; with fewer we show nothing. It is not an offer, not the rate or term you would get, and says nothing about your chance of approval.
By program
- 7(a) Community Advantage (36, 48%)
- 7(a) standard (32, 43%)
- 504 projects (as the third-party lender) (7, 9%)
Borrower industries
NAICS sector, 3 or more loans.
- Accommodation and food services (21)
- Arts, entertainment, and recreation (13)
- Retail trade (12)
- Other services (except public administration) (7)
- Professional, scientific, and technical services (3)
Where borrowers are
County of the borrower's ZIP code, 3 or more loans.
- Albany County, NY (8)
- Erie County, NY (5)
- New York County, NY (5)
- Saratoga County, NY (4)
- Monroe County, NY (3)
- Ulster County, NY (3)
How this lender was matched in the SBA files: 504 third-party lender name: same name, state and city (SBA lists “NYBDC Local Development Corporation dba Pursuit Community Finance”); SBA lender ID 0511093: same name, state and city (SBA lists “NYBDC Local Development Corporation dba Pursuit Community Finance”).
Approved is not the same as paid out: an approved loan can be reduced or never drawn. SBA lists the lender each loan is currently assigned to, which can differ after a merger or loan sale. NYBDC Local Development Corporation may also make loans outside SBA programs, which are not counted here, and SBA Microloans are not in these files. For 504 projects, the CDC amount is the SBA-backed portion and the third-party lender amount is that lender's own first-lien loan.
Source: U.S. Small Business Administration, 7(a) & 504 FOIA loan data, files as of 30 Sep 2026, downloaded 3 Nov 2026. Our counts, cancelled approvals left out. How we match lenders.
Other certified CDFIs in Latham and New York
- ADIRONDACK ECONOMIC DEVELOPMENT CORPORATIONLoan fund · Saranac Lake, NYSmall-business loansVerified
- Alternatives Federal Credit UnionCredit union · Ithaca, NYAuto / vehicle loans, Commercial real estate loans, Credit-builder loans, Equipment loans…Verified
- Amplify Equity, Inc.Loan fund · Elmira, NYSmall-business loansVerified
- Ascendus Inc.Loan fund · New York, NYChild-care facility financing, Credit-builder loans, Small-business loansVerified
- BOC Capital Corp.Loan fund · Brooklyn, NYEnergy / solar / efficiency loans, Microloans, SBA-backed loans (7(a)/504/Community Advantage), Small-business loansVerified
- BlocPower L.L.C.Loan fund · Brooklyn, NYEnergy / solar / efficiency loansVerified
Work at NYBDC Local Development Corporation? Link to this page
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