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Renasant Business Credit Provides $12MM ABL to Building Products Distributor

March 23, 2016, 07:36 AM
Filed Under: Distribution

Renasant Business Credit announced the closing of a $12.0 million asset-based revolving line of credit for a Southeastern-based company engaged in the  distribution of specialty building products for the residential housing marketplace.

The company was looking for a new lending relationship and was introduced to Renasant by a trusted advisor who had confidence in Renasant’s ability to deliver.  Renasant provided the company with  lower pricing, relaxed collateral reporting and a true relationship approach. 

“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 $2 million to $15 million-plus 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 $7.9 billion and operates more than 170 banking, mortgage, financial services and insurance offices in Alabama, Georgia, Florida, Mississippi and Tennessee.

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