SBIC License Approved!
October 17, 2023
IMB Partners (“IMB”) announces that it has received a license from the U.S. Small Business Administration (“SBA”), to operate IMB Partners SBIC Fund I, L.P. (“SBIC Fund”) as a Small Business Investment Company (“SBIC”).
“IMB is excited to partner with the SBA on our first dedicated SBIC Fund,” says Tarrus Richardson, CEO of IMB Partners. “IMB will continue to operate its Holding Company which has completed eight platform investments, has over $1 billion in revenue and provides a living to more than 700 employees and their families. Today, as we announce our first SBIC Fund, IMB adds another tool to its toolbelt. This will enable the IMB team to continue to make an impact on lower middle market small businesses that are looking to develop and grow, and that’s what we’re here to do.”
The SBIC Fund will focus on buyouts in the government contracting and utilities & infrastructure sectors.
For more than 60 years, the mission of the SBIC program has been to stimulate and supplement the flow of private equity capital and long-term debt financing that American small businesses need to operate, expand, and modernize their businesses. IMB looks forward to supporting the SBA’s vision as the firm continues to evolve and provide growth opportunities to small businesses that often lack access to essential capital.
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