This is the bane of my existence I think. I hate this so much, and seem to have to do it way, way too often, even on my equipment that I would like to think I somewhat keep up with.
First, pull the zerk, then take a small pick, and weasel pee of your choice and dig, oil, scrape, and blow with compressed air into the hole to get all the gunk you can out.
Move the loader up and down, keep pouring the penetrant too it, little heat helps sometimes but for me it is usually just persistence and moving the joint.
If you are lucky, you will get it to start taking the oil, then put in the zerk and it will take the grease, then grease and work it then get the pin out clean everything up and grease it well and reinstall and swear you won't let it happen again, untill you find yourself the next time doing the exact same thing (oh, maybe that is just me

)
If not, as hooked on HP said, get the pin out, I rate that right under going to Chuckie Cheeses of fun things to do but at least you get to use fire and hydraulics. Pins that wont come out are just a real joy, keep the joint moving while driving the pin and if you can weld fabricate something to apply hydraulic force to it to get it out. Careful application of dry ice and heat can sometimes break things loose and get it to start moving but the real trick for me again is persistence and keep changing tactics on how to get it out.
The tool with the light oil that you hammer, I thought would be my savior and have not had one work clear with it yet.
Good luck with it.