Renasant Business Credit announced the closing of a $2.75 million asset-based revolving line of credit for a Southeastern-based company engaged in the international distribution of electronic parts and components for both commercial and aerospace applications.

The company needed a larger working capital credit facility to fund growth and was introduced to Renasant by a trusted advisor. Renasant provided the company with more borrowing availability and greater flexibility to support its growth. Renasant SVP and senior RM, 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 kind of value-added, relationship lending is the hallmark of Renasant Business Credit,” said Mike Knuckles, Rensant EVP 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 to 15 million plus to lower and mid-market companies throughout the Southeast.