Renasant Business Credit announced the closing of an $11 million asset-based revolving line of credit for a Southeast-based company engaged in providing insurance premium financing. 

The company was looking for a larger working capital credit facility to help their growth objectives and was introduced to Renasant Business Credit by a trusted advisor who had confidence in our ability to deliver. 

Renasant Senior RM and SVP, John Willis, was instrumental in underwriting and closing the transaction. He will also be managing the relationship post closing, consistent with the Renasant Business Credit relationship lending model.

“This was a unique business model that required thorough due diligence by John Willis,” said Mike Knuckles, EVP and Division Manager. “Since the borrower was new to asset-based lending, Willis educated them on the process, helped the client to become comfortable with a tailored product and built a solid transactional relationship in a very short period of time.”

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.