Renasant Business Credit announced the closing of a $7.5 million asset-based revolving line of credit for a Southeastern-based company engaged in the recycling of used motor oil and its by-products as well as the distribution of specialty fuels.

The company was looking for a lending relationship supportive of their growth trajectory and turnaround plan. Renasant was introduced to this opportunity by a trusted financial consultant. This individual had confidence in Renasant’s ability to deliver. Renasant provided the company a flexible loan structure, modest covenants and a true lending relationship. 

“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 delivery model clearly resonates with working capital intensive borrowers in the lower middle market who 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 $2-15 million (and more) to lower and mid-market companies throughout the Southeast.