Renasant Business Credit announced the closing of a $5.5 million asset-based revolving line of credit for a Southeastern-based company engaged in manufacturing and wholesaling a diverse array of plastic related consumer-oriented products. 

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 through its new relationship with Renasant.

“This kind of value-added, relationship lending is the target market for Renasant Business Credit,” said Mike Knuckles, the E.V.P. 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 million to $15 million (and more) to lower and mid-market companies throughout the Southeast.
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Renasant Corporation, a 110-year-old financial services institution, is the parent of Renasant Bank. Renasant has assets of approximately $7.5 billion and operates more than 171 banking, mortgage, financial services and insurance offices in Alabama, Georgia, Florida, Mississippi and Tennessee.