BB&T Corp. said Thursday that it has bought Refloat Inc. of Mount Airy, N.C., and its principal subsidiary, Sheffield Financial Corp., which specializes in loans to small commercial lawn-care businesses across the country.

BB&T said the transaction, which was accounted for as a purchase, was completed July 31. Terms were not disclosed. Refloat/Sheffield will operate independently and give BB&T entry into a new line of business.

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