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NYBDC Local Development Corporation dba Pursuit Community Finance

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Description

Specializing in small business financing, this institution offers a variety of loan programs designed to support local entrepreneurs and community development initiatives. With a focus on SBA-backed loans, it provides accessible funding options for startups and existing businesses seeking growth capital. The lender is committed to fostering economic development in the region by offering tailored financial solutions that meet diverse business needs. Whether you’re looking for working capital, equipment financing, or real estate loans, this lender can help guide you through the process with expert support and flexible terms. Their experienced team understands the nuances of SBA programs and works closely with clients to ensure successful funding outcomes. Located in Latham, NY, they serve a broad geographic area, emphasizing community investment and sustainable business growth. The institution also offers microloans and express lending options to expedite access to capital for qualifying borrowers. With a history of supporting small businesses, they aim to be a reliable partner in your business journey, providing personalized service and comprehensive financial solutions to help your enterprise thrive.

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Q&A

Lender Type
Commercial Bank
Google Rating
3.5
Google Review Count
13
Question 1
What is this place and what can I find here?
Answer 1
This is a community-focused lender offering SBA-backed loans, microloans, and development financing to small businesses and entrepreneurs in the region. You can find personalized support and flexible funding options tailored to your business needs. They aim to foster economic growth and support local enterprise through accessible financial solutions.
Question 2
Do I need an appointment or can I walk in?
Answer 2
Appointments are recommended to ensure dedicated time with a loan officer, but walk-ins are also welcome during business hours. It’s best to call ahead to confirm availability and schedule a consultation if possible.
Question 3
What are the hours of operation?
Answer 3
The lender operates from 9:00 AM to 5:00 PM, Monday through Friday. Some services may be available by appointment outside regular hours upon request.
Question 4
Is there a fee to use this?
Answer 4
There are no fees for initial consultations, but loan origination and closing costs may apply depending on the specific financing product. All fees are disclosed upfront during the application process.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This lender primarily serves small businesses and entrepreneurs within the community, but eligibility is based on business criteria and loan program requirements rather than residency alone.
Question 6
What minimum personal credit score does this bank look for in a guarantor?
Answer 6
A minimum personal credit score of 640 is generally recommended, though stronger scores can improve approval chances and loan terms.
Question 7
How long does the traditional underwriting process take from start to close?
Answer 7
The underwriting process typically takes between 2 to 4 weeks, depending on the complexity of the application and completeness of submitted documentation.
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