Charter Growth Capital, a private investment firm that provides junior capital to lower-middle-market companies predominantly in the Great Lakes Region, has received a Small Business Investment Company (“SBIC”) license from the U.S. Small Business Administration (“SBA”). This designation enhances the firm’s ability to offer tailored capital for growth and succession to businesses across various industries.

Charter Growth Capital (“CGC”) is also proud to announce the final closing of Fund II with $111 million in total capital, making it one of the largest committed capital funds in West Michigan, and the only active SBIC in Michigan. The fund surpassed its $100 million target due to strong demand from existing and new investors.“Following the success of our first fund, we are excited to partner with the SBA on Fund II,” stated John Kerschen, Partner at CGC.

The SBIC license grants the Fund access to SBA-guaranteed financing, enabling CGC to invest more capital while adhering to its disciplined investment approach. By offering a customized mix of debt and equity, the firm supports businesses and independent sponsors with capital solutions designed to fit their unique needs.

“We are honored to receive the SBIC license,” said Mike Palm, Partner at CGC. “This milestone reinforces our commitment to partnering with exceptional management teams and helping businesses scale while creating long-term value for our investors.”

CGC’s first fund (2019 vintage) invested in 12 companies and has already exited six of those investments. Building on this success, Charter Growth Capital Fund II has made two investments and has an active pipeline of opportunities.

“Our unique offering is well-suited for the vibrant community of independent sponsors who are also looking to support small and medium-sized businesses,” said Hector Bultynck, Partner at CGC. “We welcome the opportunity to connect with companies and deal sponsors where our capital can make a difference.”