Renasant Business Credit Funds ABL Revolver for Wholesaler
Renasant Business Credit announced the funding of a $3 million asset-based revolving line of credit for an electrical and industrial wholesale distribution supply company based in Georgia.
The borrower was able to significantly increase its loan availability, lower its all-in cost of working capital and reduce its collateral reporting requirements as part of the new lending relationship.
“This kind of value-added, relationship lending is the target market for Renasant Business Credit,” said Mike Knuckles, the EVP and division manager. He added, “The borrower will also enjoy a much more cohesive and streamlined treasury management process as a result of their new banking relationship with Renasant.”