Renasant Business Credit announced the closing of a $4 million asset-based revolving line of credit for a steel pipe fabricator and distributor based in Georgia.

The company was looking for a banking relationship and Renasant was able to provide the company with more borrowing availability at a reduced cost. This provided the company 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, EVP and division manager. He added, "Our ability to underwrite, credit approve and close the transaction within a tight time frame was made possible by the infrastructure we have put in place during the past 18 months. This includes our personnel, credit policies, operating procedures and risk taking methodologies."

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