Navitas Credit Corp. is pursuing its first securitization of small and mid-ticket commercial equipment lease and loan receivables of the year, and its third ever.

The Navitas Equipment Receivables LLC Series 2016-1 is backed by leases and loans with a total discounted contract base of $156.9 million. The contracts are for small-ticket equipment (transactions sized from $5,000 to $750,000) including titled equipment such as trucks as well as industrial and medical lasers. The asset pool consists of 4,978 contracts with an average remaining balance of $31,510 and remaining terms of 40.5 months.

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