Clovis is a city in Fresno County, California, United States. The population was 106,583 at the 2010 census. Clovis is located 6.5 miles (10.5 km) northeast of downtown Fresno, at an elevation of 361 feet (110 m).
The city of Clovis began as a freight stop along the San Joaquin Valley Railroad. Organized in February 1890, the city was incorporated on January 1, 1912. The city is named for Clovis Cole, a Santa Fe Railroad official.
The economy of Clovis is based on agriculture, manufacturing, and services. The top employers in the city are Clovis Unified School District, City of Clovis, and Clovis Community Medical Center. The agricultural sector is the largest employer in the Clovis area, with over 16,000 jobs in the sector. The manufacturing sector is the second largest employer, with just over 4,000 jobs in the sector. The service sector is the third largest employer, with just under 4,000 jobs in the sector.
The median income for a household in the city was $41,415, and the median income for a family was $50,131. Males had a median income of $39,564 versus $26,151 for females. The per capita income for the city was $20,183. About 12.8% of families and 17.2% of the population were below the poverty line, including 25.1% of those under age 18 and 8.8% of those age 65 or over.
Small businesses are a vital part of the Clovis economy, accounting for over 42% of all businesses in the city. The top industries for small businesses in Clovis are retail trade, health care, and construction. There are over 4,000 small businesses in Clovis, employing over 16,000 people.
Comparing SBA loan types in Clovis
Three SBA programs come up most often for Clovis, California businesses, and they do different jobs.
Small business loans available in Clovis
An SBA 7(a) loan made to a Clovis, California business is made by a participating lender, not by the SBA. The lender underwrites it, sets the rate within the SBA maximum, and services it. What varies locally is which lenders are active, not the program rules.
Common uses here are the same as everywhere: working capital, equipment, owner-occupied commercial real estate, refinancing business debt, and buying an existing business.
Insurance and closing
Most SBA lenders require hazard and, where the collateral is real property, property insurance in place before closing. See commercial property insurance for businesses and ways to ensure your SBA loan closes smoothly.
Getting started in Clovis
Check the eligibility requirements, run the numbers with the SBA 7(a) loan calculator, then get financing and we will route your inquiry to lending partners.