Clover Business Loans Review

#20 in Small Business Loans

Clover Business Loans is a free, no-obligation loan matching service that connects small business loan borrowers to lenders nationwide. It offers small business loans of up to $500,000 through its 3 step loan application process. Loan application then receive multiple offers from different lenders allowing them to select small business loans with the best rate.

Features and Services

Clover Business Loans is an online marketplace for small business loans. It maintains a network of nationwide lenders who offer small business loans. The company offers an alternative to bank loans, streamlining the process of loan applications. Borrowers only need to answer a few questions and their loan applications are then sent to its network of lenders.

Small business loans are available from $1,000 and up to $500,000. Applying for a small business loan is as easy as three steps. Applicants and asked for their business owner personal information, business information and loan information.

Qualifying for a loan varies by lender. Offers received are based on how lenders evaluate your credit worthiness. Information required may include your business bank account and credit profile information. Minimum business requirements include gross revenue of $10,000 or more for at least 6 months and credit score above 550.

Plan Details

Loan Amount

$1,000 to $500,000

Loan Terms

Varies by lender

Interest Rates

Varies by lender

Fixed Interest Rates

Variable Interest Rates

Down Payment

Loan Fees

Closing Cost

Varies by lender

Guarantee

Varies by lender

Other Fees

Varies by lender

Prepayment Penalty

Varies by lender

Loan Application

Online Application

Personal Credit Profile

Business Credit Profile

Approval Time

SAME DAY

Local Branches

Available Nationwide

Application Time

WITHIN MINUTES

Mobile App

Qualifications

U.S. Citizen

Good Credit

Bankruptcy

Years in Business

6 months

Qualified even with bad credit

Help and Support Services

Email Support

24 Hour Telephone Support

Live Chat

FAQs

Summary

Clover Business Loans makes applying for a small business loan quick and simple. With a minimum credit score of 550, $10,000 gross income and at least 6 months in operation, it makes it easy for business to qualify for loans of up to $500,000. And the best thing about this is that by sending your loan application to multiple lenders, you are given the option of selecting from competing loan offers.

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