March 1, 2010
C&B Capital Participates in $6 Million Financing
Noro-Moseley leads investment in Florida’s NavitasJACKSONVILLE, FL – Navitas Lease Finance Corp., which provides equipment financing to small and medium-sized businesses, has raised $6 million led by Atlanta-based Noro-Moseley Partners. Noro-Mosely provided the bulk of the Series A round. Other investors included C&B Capital and Lunsford Capital.
Navitas provides capital to small and mid-sized businesses in the form of a loan or lease to finance business equipment.
We hear that is an appealing model in the current economic climate.
“Credit and financing are often hard to come by in today’s market,” said Allen Moseley, Noro-Moseley partner and Navitas board member. “We see a large market opportunity for Navitas considering traditional sources of small business credit have contracted. This management team has a strong track record in the industry, and we believe this is an opportunistic time to scale a company like Navitas.”
The Navitas team is led by financial services industry veteran Gary R. Shivers, Navitas founder, and CEO. Prior to founding Navitas, Shivers co-founded and grew Marlin Leasing (MRLN) to a public company with more than $1 billion in equipment lease volume.