Small Business Administration Loans

Clover Capital Group maintains a small business loan program that participates fully in the Small Business Administration’s loan program for new and established small businesses. Depending on your business type, size, and needs, these loans provide flexible options with generous repayment terms and interest rates. They are designed to help incubate new companies by removing some of the financial pressures they face, because the SBA underwrites each one to ensure qualifying businesses get the best available rates in the marketplace.

Purchase, Build, or Renovate

Small business loans are available to help companies start, restart, or revamp operations, and there are options available that fit the following kinds of businesses:

  • Non-conforming properties
  • Single-purpose buildings
  • Restaurants
  • Gas stations
  • Auto dealerships and repair shops
  • Hotels and motels
  • Convalescent hospitals
  • Veterinary clinics

Existing Business Acquisitions

If you are looking to buy a company that is already established, SBA loans offer a few options, with the following parameters:

  • Company revenues up to (but not over) $1.25 million per year
  • Terms up to 15 years
  • Loan values up to 80% LTV
  • Loans fully amortize to avoid balloon payments
  • No prepayment penalties
  • 48 hour preapproval turn-around

Other Available Loans

Our small business loan program also participates in the 504 & 7a programs, providing loans with 25 year terms and up to $5 million for qualified properties. Equipment loans are also available through this program, allowing companies with heavy equipment needs like binding, manufacturing, trucking, and machine tooling to get the starting equipment they need to maintain operations. All of our SBA loan offers are underwritten fully by the Small Business Administration’s loan program, and standard Administration restrictions and requirements apply to ensure compliance with that program. If you have any questions about these loans, the program, or how your company can benefit