Renasant Business Credit announced the closing of a $5 million asset-based revolving line of credit for a Southeastern-based company engaged in the production of a broad range of high-performance biopolymer products for various industries including pharmaceutical, oil & gas, mining and water treatment.

The company was looking for a lending relationship supportive of their growth trajectory.  Renasant was introduced to this opportunity by a private equity firm which has an investment in the Southeastern-based company. The equity firm had confidence in Renasant’s ability to deliver due to its preexisting relationship with key Renasant personnel. Renasant provided the company a flexible loan structure, modest covenants and a true lending relationship. 

“This kind of value-added, relationship lending continues to be the hallmark of Renasant Business Credit,” said Mike Knuckles, the EVP and Division Manager. “Our unique, integrated business model clearly resonates with working capital intensive borrowers in the lower middle market who still value having a true relationship with their lender.”

Renasant Business Credit, the Atlanta-based lending division of Renasant Bank, provides asset-based lines of credit from $2million to $15 million (and more) to lower and middle-market companies throughout the Southeast.

Renasant Corporation, a 112-year-old financial services institution, is the parent of Renasant Bank. Renasant has assets of approximately $8.5 billion and operates more than 175 banking, mortgage, financial services and insurance offices in Alabama, Georgia, Florida, Mississippi and Tennessee.