clo•vest: community and locally oriented investing.

// Overview

Clovest is a crowdfunding platform designed to build strong local economies. We help businesses finance growth by borrowing money from friends, customers, and local communities in the form of a zero-interest loan. Loans can be used for a variety of purposes, range in size from $1k to $50k, and are repaid within 1 – 3 years.

Funders of these loans not only have their contributions repaid on a quarterly basis, but also get a chance to earn rewards for their communities– unique events that are hosted by the business as a way to thank funders for their support! On Clovest, small businesses not only finance growth at a reasonable cost (view our fees), but also do so with the support of their local communities.

// Values

The Power of Localism

We believe the greatest untapped resource in our economy is you, the American citizen.

As the social, economic and environmental connections of the world become clear with the expansion of global capitalism, more and more of us have come to understand the benefits of growing and making things locally. In fact, we might have taken some of these things for granted back when local was the only way we knew how to do things.

Local businesses and organizations tend to create and generate more wealth for the community that they call home. Dollars spent in local markets have a tendency to recirculate with other producers and consumers in that community. Vibrant local and walkable economies have been found to create greater civic engagement, more local employment, higher tax bases, lower obesity rates and the belief in community members that they can come together to solve problems.

Transparency + Trust

On Clovest, businesses raise funding from their customers and communities in the form of a zero interest loan and promise to pay them back over the course of one to three years. We believe that such community-led financing helps build trust between businesses and their communities.

By empowering local communities to lend to local businesses, we not only are able to help these businesses finance their growth at a reasonable cost, but also deepen the economic ties and social ties within communities. And best of all, local funders get quarterly returns on that trust as the business repays their loan.

Community: It's a Party!

Isn’t life better when people get together? We think parties are a good thing and we want you to go to more of them. Your mom will thank us later.

Clovest Community Rewards are a business’ way of re-investing in the neighborhood and circulating economic growth back in to the community that helped it to grow. Although these Rewards can take on all kinds of different forms, we require businesses to structure them so that the entire community benefits from them an not just those who funded their loan.

At the end of the day, the purpose of a Clovest loan is to grow local economies and build great communities. With Clovest, we want to give you a voice in supporting businesses and make sure that businesses bring people together to create, give back, learn or just have a good old party.

Sustainable Finance

Businesses’ first and foremost struggle is raising capital. Worse yet, our financial system puts folks looking to raise small amounts of capital at a disadvantage. According to a survey of small businesses by the Federal Reserve Bank of New York, most small businesses had trouble receiving loans for amounts under $100,000. Of those without access to financing, the majority reported relying on earnings or personal credit cards instead. And nearly half of the businesses reported insufficient access to capital as their largest impediment to growth.

We built Clovest with one simple aim: to provide businesses with a means to raise small amounts of capital at a reasonable cost. Not only do our community-funded loans provide a much-neeeded alternative to high-interest credit cards, but they also help businesses discover new supporters, engage with their customers, and build trust with their communities!