Renasant Business Credit announced the closing of a $15 million asset-based revolving line of credit for a Southeast based company engaged in providing fuel management services and fuel products to large corporate owned fleets. 

The company was looking for a new working capital credit facility and was introduced to Renasant by a trusted advisor who had confidence in Renasant’s ability to deliver.  Renasant was ultimately able to provide the company with more borrowing availability at a reduced cost and most of all provide the company with a fresh start from a relationship standpoint.

“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, “Our unique business model has clearly resonated with those working capital intensive borrowers in the lower middle market who still value having a relationship with their lender.”

Renasant Business Credit, the Atlanta-based lending division of Renasant Bank, provides asset-based lines of credit from $2 million and 15 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 $5.8 billion and operates over 120 banking, mortgage, financial services and insurance offices in Mississippi, Tennessee, Alabama and Georgia.