Abacus Finance Group announced the receipt of its Small Business Investment Company (SBIC) license and the successful first closing of its inaugural SBIC fund. This significant milestone represents a new chapter for Abacus, solidifying its role as a vital partner for small businesses and an advocate for their economic growth.
The newly licensed SBIC fund will allow Abacus to leverage its expertise in providing flexible financing solutions while expanding its capacity to serve a broader range of entrepreneurial companies, underscoring Abacus’s commitment to fueling innovation, job creation, and sustainable development across the lower middle market.
More than a regulatory milestone, being awarded of its SBIC license is a recognition of the firm’s consistent success in supporting U.S.-based small businesses. The SBA’s SBIC program, a federal initiative designed to stimulate capital investment in small businesses, provides access to government-guaranteed debt capital. With this partnership, Abacus Finance will be able to deploy additional resources, enhancing its ability to back companies in sectors that drive the U.S. economy forward.
“Receiving our SBIC license and holding our first closing of this fund is a testament to both our Total Partnership Approach™ (TPA) and dedication to helping small businesses succeed,” said Tim Clifford, CEO of Abacus Finance Group. “This partnership with the SBA equips us with even greater tools to fuel the growth and resilience of the businesses we serve.” Abacus Finance Group was co-founded in 2011 by Tim Clifford and its COO, Sean McKeever. The firm’s two other partners, Seth Friedman and Eric Petersen, both Managing Directors, provided critical support to the growth of the firm and its future prospects. Other key investment professionals who contributed to making this SBIC license issuance a reality include: Rafal Rydzewski, Joseph Lee, Austin Rendell, Greg Scanlon, Matt Campanella, and Afsheen Ali.
As Abacus embarks on this new chapter, its mission remains unchanged: Count on Us™ to empower businesses with the resources and expertise they need to succeed. With its SBA license in hand, Abacus is set to amplify its impact, delivering on its promise to drive growth in the lower middle market. The fund will continue the firm’s focus on investing in companies with EBITDA ranging from $3 million to $15 million, a critical segment of the market often underserved by traditional financing sources.