FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
Skip Navigation LinksHome / News / Read News


Renasant Business Credit Closes $2.75MM Revolver for Distributor

October 02, 2015, 07:45 AM
Filed Under: Distribution

Renasant Business Credit announced the closing of a $2.75 million asset-based revolving line of credit for a Southeastern-based company (the Company) engaged in the international distribution of electronic parts and components for both commercial and  aerospace applications.

The company needed a larger working capital credit facility to fund growth and was introduced to Renasant by a trusted advisor who had confidence in Renasant’s ability to deliver.  Renasant provided the company with more borrowing availability and greater flexibility to support its growth.  Renasant SVP and Senior RM, John Willis, was instrumental in underwriting and closing the transaction. He will also be managing the relationship post closing, consistent with the Renasant Business Credit relationship lending model.

“This kind of value-added, relationship lending is the hallmark of Renasant Business Credit,” said Mike Knuckles, Rensant EVP and Division Manager. “Our unique business model has clearly resonated with working capital intensive borrowers in the lower middle market who still value having a deep financial relationship with their lender.”

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

Renasant Corporation, a 111-year-old financial services institution, is the parent of Renasant Bank. Renasant has assets of approximately $7.8 billion and operates more than 170 banking, mortgage, financial services and insurance offices in Alabama, Georgia, Florida, Mississippi and Tennessee.

Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.