Yes, why not???? Converge CRM is cloud CRM for small businesses. For more information, please visit here: http://www.convergeenterprise.com
Hosted CRM has a lot of advantages over on-premise if you look at it from the perspective of wanting to maintain as small a software footprint as possible since all you typically need in order to run the program is an internet connection and a web browser.
Basically, we used SugarCRM, SalesForce for our clients. Recently, We have implemented Converge Enterprise for one of our retail chain client. And they are happy with the Cloud CRM. For more information you can sign up(FREE) - http://www.convergeenterprise.com/signup.html