The New York State Common Retirement Fund (Fund) provides Pursuit (formerly New York Business Development Corporation) with capital to make loans to small businesses for working capital, equipment or real property. With its focus on small‐business lending, Pursuit can frequently offer more favorable terms than other lenders.
Since 2007, Comptroller DiNapoli has increased the total amount of funds available to Pursuit by $100 million. The program has granted loans to small businesses in all 62 counties, and helps create or retain an average 9,000 private sector jobs each year, many of which are supported by the Fund investment.
- Granted 13 loans totaling $7.5 million during fiscal year ending March 31, 2018.
- Awarded over 1,000 small businesses loans since 1987.
- Since 2009, about 40% of loans were awarded to women- or minority-owned businesses.
- More than $1 million in loans have been made to businesses started or owned by military veterans.
For more information, visit the Pursuit website.
Phone: (518) 473-6089
Email: [email protected]