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Renasant Business Credit Funds $3MM Revolver to Distributor

June 20, 2014, 09:12 AM
Filed Under: Distribution

Renasant Business Credit announed the funding of a $3 million asset-based revolving line of credit for an electrical and industrial wholesale distribution supply company based in Georgia.  The borrower was able to significantly increase their loan availability, lower their all-in cost of working capital and reduce their collateral reporting requirements as part of the new lending relationship. 

“This kind of value-added, relationship lending is the target market for Renasant Business Credit,” said Mike Knuckles, the EVP and Division Manager. He added, “The borrower will also enjoy a much more cohesive and streamlined treasury management process as a result of their new banking relationship with Renasant.”

Renasant Business Credit, the Atlanta-based lending division of Renasant Bank, provides asset-based lines of credit from $2 million to 10 million (and more) to lower and mid-market companies throughout the Southeast.

Renasant Corporation, a 110-year-old financial services institution, is the parent of Renasant Bank and Renasant Insurance. Renasant has assets of approximately $5.9 billion and operates over 120 banking, mortgage, financial services and insurance offices in Mississippi, Tennessee, Alabama and Georgia.

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