Renasant Business Credit closed a $13.5 million term loan for an existing ABL client.

“I am very pleased we were able to assist our client with this refinancing project,” said Mike Knuckles, Renasant executive vice president and division manager. “This was a highly structures loan transactyion secured by a unique asset that has a significant amount of value, backed by a high performing operating business. We are excited to expand upon our existing $7.5 million revolving credit facility.”

Renasant Business Credit, the Atlanta-based division of Renasant Bank, provides asset-based lines of credit from $2 million to $30 million to lower and mid-market companies throughout the Southeast.