Twain Private Credit Unveils Maiden Fund to Support SMEs in Southern States

Twain Private Credit announced the launch of its debut fund, the Truman Fund, following approval from the U.S. Small Business Administration (SBA) for a new Small Business Investment Company (SBIC) license.

The Ridgeland, MS-based firm said the approval brings an active SBIC to Mississippi for the first time on record, unlocking capital for local businesses looking to grow and expand. Twain Private Credit and the Truman Fund will also have offices and active investment in Oklahoma and Tennessee. Twain Private Capital is actively considering and seeking limited partners with experience in the region.

SBA commits up to $5 billion annually to provide low-cost loans to scale and enhance the risk-adjusted returns of private equity and private credit funds focused on investing in U.S. small businesses and startups, the firm said.

The Truman Fund will also target investments in Oklahoma, Arkansas, Alabama, and Georgia, which do not have an actively investing SBIC. By channeling funds into businesses throughout the southeast, the firm aims to “stimulate local job creation, innovation, and economic development.”

“Receiving SBA approval for our SBIC is a monumental achievement for Twain Private Credit,” said Wade Smith, principal of Twain Private Credit. “The Truman Fund represents our dedication to empowering small and growing businesses in Mississippi and beyond. We are ready to play a role in driving economic growth and supporting the entrepreneurial spirit that is so vibrant in our community.