Nonbank lender Oportun is making its fifth trip to the securitization market with a $124.8 million offering that is backed by fewer loans, but higher balances, than previous deals.

Oportun Funding II LLC Series 2016-A is issuing two tranches of notes that have been granted provisional ratings in a pre-sale report issued Wednesday by Kroll Bond Rating Agency: An ‘A’-rated, $102.8 million Class A structure due 2021 that carries a 31% credit enhancement, and a $22 million Class B tranche due 2021 that has a CE of 15% and a ‘BBB’ rating.   

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