Renasant Closes $4MM ABL Revolver for GA Pipe Fabricator
Renasant Business Credit announced it closed a $4 million asset-based revolving line of credit for a steel pipe fabricator and distributor based in Georgia.
The company was looking for a new banking relationship. Renasant was able to provide the company with more borrowing availability at a reduced cost and most of all provide the company with a fresh start from a relationship standpoint.
“This kind of value-added, relationship lending is the target market for Renasant Business Credit,” said Mike Knuckles, the EVP and division manager. “Our ability to underwrite, credit approve and close this transaction within a tight time frame was made possible by the infrastructure we have put in place during the past 18 months. This includes our personnel, credit policies, operating procedures and risk rating methodologies.”