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Previous: MEGA MICRO TECHNOLOGIES GROUP, 10QSB, 2000-05-15 |
Next: CAPSULE COMMUNICATIONS INC, 10-Q, 2000-05-15 |
<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
May 10, 2000
ADVANTA EQUIPMENT RECEIVABLES SERIES 2000-1 LLC
------------------------------------------------------
(Exact name of registrant as specified in its charter)
<TABLE>
<S> <C> <C>
NV 333-93915 88-0454146
- --------------------------------------- ---------------- -------------------------------
(State or Other (Commission File (I.R.S. Employer Identification
Jurisdiction of Incorporation) Number) No.)
639 Isbell Road, Suite 390-1
Reno, NV 89509
- --------------------------------------- ------------------------------
(Address of Principal Executive Offices) (Zip Code)
</TABLE>
Registrant's telephone number, including area code 775-823-3080
------------
No Change
-----------------------------------------------------------------
(Former name or former address, if changed since last report)
<PAGE> 2
Item 7. Financial Statements and Exhibits
The following exhibit is furnished herewith:
21 Monthly Servicer's Certificate issued on May 10, 2000 relating
to the Equipment Receivables Asset-Backed Notes, Series
2000-1, prepared by the Servicer and sent to the Trustee
pursuant to Section 2.01(a) of the Series 2000-1 Transfer and
Servicing agreement dated as of March 1, 2000 covering the
period of April 1, 2000 through April 30, 2000.
3
<PAGE> 3
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
ADVANTA EQUIPMENT RECEIVABLES
SERIES 2000-1 LLC,
As Registrant
By /s/ KIRK WEILER
---------------------------
Name: Kirk Weiler
Title: Manager
Dated: May 10, 2000
4
<PAGE> 4
Exhibit Index
<TABLE>
<CAPTION>
Exhibit No. Page
- ----------- ----
<S> <C>
21.1 Monthly Servicer's Certificate dated May 10, 2000 prepared by the 8
Servicer and sent to the Trustee pursuant to Section 2.01 (a) of the
Series 2000-1 Transfer and Servicing Agreement covering
the period of April 1, 2000 through April 30, 2000.
</TABLE>
5
<PAGE> 1
ASSET-BACKED FINANCING FACILITY
Advanta Bank Corp.
Monthly Servicer Certificate
Collection Period: April 1, 2000 - April 30, 2000
Settlement Date: 15-May-00
A. SERIES INFORMATION:
Advanta Equipment Leasing Receivables Series 2000-1 LLC
Series 2000-1
<TABLE>
<S> <C> <C>
I. AGGREGATE CONTRACT PRINCIPAL BALANCE:
(a.) Beginning Aggregate Contract Principal Balance ................................................... $ 456,352,217.58
----------------
(b.) Contract Principal Balance of all Collections allocable to Contracts ............................. $ 15,920,356.85
----------------
(c.) Contract Principal Balance of Charged-Off Contracts .............................................. $ 1,051,915.20
----------------
(d.) Ending Aggregate Contract Principal Balance of all Contracts as of this
Settlement Date ................................................................................ $ 439,379,945.53
----------------
BALANCES ON THIS PAYMENT DATE: (AFTER PRINCIPAL PAYMENTS MADE FOR THIS
RELATED COLLECTION PERIOD)
(e.) Class A Principal Balance as of this
Settlement Date (Class A Note Factor) 0.9335638 $ 307,307,725.99
--------- ----------------
(e1.) Ending Class A-1 Principal Balance 0.8793652 $ 159,415,725.99
--------- ----------------
(e2.) Ending Class A-2 Principal Balance 1.0000000 $ 63,269,000.00
--------- ----------------
(e3.) Ending Class A-3 Principal Balance 1.0000000 $ 84,623,000.00
--------- ----------------
(f.) Ending Class B Principal Balance as of this
Settlement Date (Class B Note Factor) 0.9335638 $ 26,340,502.23
--------- ----------------
(g.) Ending Class C Principal Balance as of this
Settlement Date (Class C Note Factor) 0.9335638 $ 17,560,334.89
--------- ----------------
(h.) Ending Class D Principal Balance as of this
Settlement Date (Class D Note Factor) 0.9335638 $ 8,780,167.45
--------- ----------------
(i.) Ending Class E Principal Balance as of this
Settlement Date (Class E Note Factor) 0.9343470 $ 21,968,365.88
--------- ----------------
(j.) Ending Class F Principal Balance as of this
Settlement Date (Class F Note Factor) 0.9343470 $ 57,120,849.07
--------- ----------------
II. COMPLIANCE RATIOS:
(a.) Aggregate Contract Balance Remaining ("CBR") of all Contracts .................................... $ 514,900,139.02
----------------
(b.) CBR of Contracts 1 - 30 days delinquent .......................................................... $ 57,225,674.29
----------------
(c.) % of Delinquent Contracts 1- 30 days as of the related Calculation Date ......................... 11.11%
----------------
(d.) CBR of Contracts 31 - 60 days delinquent ......................................................... $ 27,016,615.78
----------------
(e.) % of Delinquent Contracts 31- 60 days as of the related Calculation Date ........................ 5.25%
----------------
(f.) CBR of Contracts 61 - 90 days delinquent ......................................................... $ 11,750,038.19
----------------
(g.) % of Delinquent Contracts 61- 90 days as of the related Calculation Date ........................ 2.28%
----------------
(h.) CBR of Contracts 91 - 120 days delinquent ........................................................ $ 6,489,729.33
----------------
(i.) % of Delinquent Contracts 91- 120 days as of the related Calculation Date ....................... 1.26%
----------------
(j1.) % of Delinquent Contracts 31 days or more as of the related Calculation Date ..................... 8.79%
----------------
(j2.) Month 2: Mar-00 (1) ............................................................. 7.18%
----------------
(j3.) Month 3: ......................................................................................... N/A
----------------
(j4.) Three month rolling average % of Delinquent Contracts 31 days or more ............................ N/A
----------------
(k1.) Net Charge-Off % for the related Collection Period (annualized 30/360) ........................... 2.57%
----------------
(k2.) Month 2: Mar-00 ................................................................. 0.26%
----------------
(k3.) Month 3: ......................................................................................... N/A
----------------
(k4.) Three month rolling average % for Defaulted Contracts ............................................ N/A
----------------
</TABLE>
1 of 4
<PAGE> 2
<TABLE>
<S> <C> <C>
(l1.) Cumulative Net Loss Percentage ................................................................ 0.2302%
---------------
(l2.) Does the Cumulative Net Loss % exceed
(l3.) The Loss Trigger Level % from Beginning Period to and including
12th Collection Period ? Y or N ........................................................... NO
---------------
(l4.) The Loss Trigger Level % from 13th Collection Period to and including
24th Collection Period ? Y or N ............................................................ N/A
---------------
(l5.) The Loss Trigger Level % from 25th Collection Period and thereafter ?
Y or N ...................................................................................... N/A
---------------
(m5.) Is there currently a Trigger Event which has not been cured for this
payment date Y or N ..................................................................... NO
---------------
(m5.) Is there currently an Event of Default for this payment date Y or N ......................... NO
---------------
III. FLOW OF FUNDS:
(1.) The amount on deposit in Available Funds ...................................................... $ 17,649,350.64
---------------
(2.) Amounts deposited, if any, by the Servicer to the Collection Account
for contracts repurchased ................................................................... $ 2,730,429.65
---------------
(3.) Total deposits in the Collection Account to be used as available
funds on this Payment Date (1+2) ............................................................ $ 20,379,780.29
---------------
(4.) Funds to the servicer, any Excluded Amounts-Residual Receipts ................................. $ 196,682.81
---------------
(a.) To the Trustee, trustee fees and expenses subject to an annual limit .......................... --
---------------
(b.) To the Servicer, any unrecoverable servicer advances / initial
unpaid balance amounts ...................................................................... $ 687,563.51
---------------
(c.) To the Servicer, the servicing fee then due and miscellaneous amounts, if any ................. $ 380,293.51
---------------
TO SERIES 2000-1 NOTEHOLDERS INCLUDING RETAINED INTEREST HOLDERS: INTEREST
(d.) To Class A, the total Class A Note Interest for the related
interest accrual period ..................................................................... $ 1,882,045.50
---------------
Interest on Class A-1 Notes ............................................ $ 977,337.24
---------------
Interest on Class A-2 Notes ............................................ $ 382,513.83
---------------
Interest on Class A-3 Notes ............................................ $ 522,194.43
---------------
(e.) Interest on Class B Notes for the related interest accrual period ............................. $ 172,450.48
---------------
(f.) Interest on Class C Notes for the related interest accrual period ............................. $ 116,867.89
---------------
(g.) Interest on Class D Notes for the related interest accrual period ............................. $ 60,943.15
---------------
CLASS E INTEREST:
(h1.) If Class E Noteholder is not Originator, then Interest on Class E Notes
for the related interest accrual period or otherwise $0. .................................... --
---------------
.
(h2.) If Class E Noteholder is Originator, then amount in (h1) from above
to be paid as additional principal pro rata among the Class A, Class B,
Class C and Class D notes or otherwise $0 ................................ $ 194,894.82
---------------
TO SERIES 2000-1 NOTEHOLDERS INCLUDING RETAINED INTEREST HOLDERS: PRINCIPAL
(i1.) Class A percentage .......................................................... 0.69999903
---------------
(i2.) To Class A, amount from reserve account, if any ............................. --
---------------
(i3.) To Class A, the Class A overdue principal, if any ........................... --
---------------
(i4.) To Class A, the Class A monthly principal payment amount .................... $ 11,880,573.96
---------------
(i5.) To Class A, the additional principal, if any, allocable from Class E
interest amount ........................................................... $ 166,373.78
---------------
(i6.) To Class A, the additional principal, if any, allocable from Class F
floor amount .............................................................. --
---------------
(i7.) Total principal payment to Class A (i2-i6) ................................. $ 12,046,948.44
---------------
(i8.) Principal payment to Class A-1 Noteholders ................................................ $ 12,046,948.44
---------------
(i9.) Principal payment to Class A-2 Noteholders ................................................ --
---------------
(i10.) Principal payment to Class A-3 Noteholders ................................................ --
---------------
(j1.) Class B percentage .......................................................... 0.059999551
---------------
(j2.) To Class B, amount from reserve account, if any ............................. --
---------------
(j3.) To Class B, the Class B overdue principal, if any ........................... --
---------------
(j4.) To Class B, the Class B monthly principal payment amount .................... $ 1,018,328.71
---------------
(j5.) To Class B, the additional principal, if any, allocable from Class E
interest amount ........................................................... $ 14,260.52
---------------
(j6.) To Class B, the additional principal, if any, allocable from Class F
floor amount .............................................................. --
---------------
(j7.) Total principal payment to Class B Noteholders (j2-j6) ........................................ $ 1,032,589.29
---------------
(k1.) Class C percentage .......................................................... 0.039999701
---------------
(j2.) To Class C, amount from reserve account, if any ............................. --
---------------
(k3.) To Class C, the Class C overdue principal, if any ........................... --
---------------
(k4.) To Class C, the Class C monthly principal payment amount .................... $ 678,885.81
---------------
(k5.) To Class C, the additional principal, if any, allocable from Class E
interest amount ........................................................... $ 9,507.02
---------------
(k6.) To Class C, the additional principal, if any, allocable from Class F
floor amount .............................................................. --
---------------
</TABLE>
2 of 4
<PAGE> 3
<TABLE>
<S> <C> <C>
(k7.) Total principal payment to Class C Noteholders (k2-k6) ............................... $ 688,392.82
--------------
(l1.) Class D percentage ................................................. 0.01999985
---------------
(l2.) To Class D, amount from reserve account, if any .................... --
---------------
(l3.) To Class D, the Class D overdue principal, if any .................. --
---------------
(l4.) To Class D, the Class D monthly principal payment amount ........... $ 339,442.90
---------------
(l5.) To Class D, the additional principal, if any, allocable from Class
E interest amount ................................................ $ 4,753.51
---------------
(l6.) To Class D, the additional principal, if any, allocable from Class
F floor amount ................................................... --
---------------
(l7.) Total principal payment to Class D Noteholders (l2-l6) ............................... $ 344,196.41
--------------
(m1.) Class E percentage ................................................. 0.049998563
---------------
(m2.) To Class E, amount from reserve account, if any .................... --
---------------
(m3.) To Class E, the Class E overdue principal, if any .................. --
---------------
(m4.) To Class E, the Class E monthly principal payment amount ........... $ 848,589.21
---------------
(m5.) To Class E, the additional principal, if any, allocable from Class
F floor amount ................................................... --
---------------
(m6.) Total principal payment to Class E Noteholders (m2-m5) ............................... $ 848,589.21
--------------
TO THE RESERVE ACCOUNT :
(4.) The amount, if any, needed to maintain the amount in the reserve
account at the
required reserve amount ............................................................ $ --
--------------
CLASS F PAYMENTS:
(n1.) Sub-Total of funds disbursed through the Reserve Account ........... $ 18,457,563.02
---------------
(n2.) Funds available to be paid to Class F .............................. $ 1,922,217.27
---------------
(n3.) Class F percentage ................................................. 0.130003314
---------------
(n4.) Class F floor amount ............................................... $ 9,405,070.31
---------------
(n5.) Class F principal balance before payment of principal on this
payment date ..................................................... $ 59,327,300.68
---------------
(n6.) If Funds available to be paid to Class F (line 6) is greater than
$0, then payment as follows:
(n7.) If principal balance (n3) is greater than Class F floor (n2) then
to Class F in an amount equal to
the lesser of (a) Class F monthly principal amount until the
Class F principal balance has been reduced
to the Class F floor amount and (b) funds available ............. ................. $ 1,922,217.27
--------------
(n8.) If amount in line (n5) is greater than $0, skip (n7) and go to (o1):
(n9.) If Funds available to be paid to Class F (line 6) is $0, then no
payments to Class F and enter $0 ...................................................
--------------
TO THE TRUSTEE:
(7.) To the Trustee, any fees and expenses not previously paid subject
to a limit .........................................................................
--------------
TO THE ISSUERS:
(8.) To the issuers, as owner of the pledged assets, any remaining
available funds on deposit in the
collection account after all payments are made above ............................... $ --
--------------
IV. SERVICER ADVANCES
(a.) Aggregate amount of Servicer Advances at the beginning of the
Collection Period .................................................................. $ 3,010,438.20
--------------
(b.) Servicer Advances reimbursed during the Collection Period ............................ $ 22,816.35
--------------
(c.) Amount of unreimbursed Service Advances to be reimbursed on the
Settlement Date . ................................................... --
--------------
(d.) Servicer Advances made during the related Collection Period .......................... $ 1,485,166.66
--------------
(e.) Aggregate amount of Servicer Advances at the end of the Collection
Period . ......................................................... $ 4,472,788.51
--------------
(f.) Amount of delinquent Scheduled Payments for which Servicer Advances
were not made ........................................................................ --
--------------
V. RESERVE ACCOUNT
(a.) Amount on deposit at the beginning of the related Collection Period .................. $ 4,702,535.15
--------------
(b.) Reserve Account initial deposit ......................................................
--------------
(c.) Amount of interest earnings reinvested for the related Monthly
Period ............................................................................. $ --
--------------
(d.) Amounts used to cover shortfalls, if any, for the related
Collection Period .................................................................. $ --
--------------
(e.) Amounts used as required in a Trigger Event , if any, for the
related Collection Period .......................................................... $ --
--------------
(f.) Amounts transferred in from the Collection Account, if applicable
(line 4) ........................................................................... $ --
--------------
(g.) Interest earnings for the related Monthly Period ..................................... $ 22,997.23
--------------
(h.) Interest earnings withdrawn and included as Available Funds for
the related Monthly Period ......................................................... $ 22,997.23
--------------
</TABLE>
3 of 4
<PAGE> 4
<TABLE>
<S> <C>
--------------
(i.) Amount on deposit at the end of the related Collection Period $ 4,702,535.15
--------------
(j.) Is the Required Reserve Amount equal to the balance in the Reserve Account
as of the related Collection period? Y or N Y
--------------
VI. ADVANCE PAYMENTS
(a.) Beginning aggregate Advance Payments $ 3,313,729.63
--------------
(b.) Add: Amount of Advance Payments collected during the related Collection Period $ 1,992,553.68
--------------
(c.) Add: Investment earnings for the related Collection Period $ --
--------------
(d.) Less: Amount of Advance Payments withdrawn for deposit into Facility Account $ 2,622,433.19
--------------
(e.) Ending aggregate Advance Payments $ 2,683,850.12
--------------
</TABLE>
ADVANTA BANK CORP., AS SERVICER
BY: /s/ KIRK WEILER
-----------------------------
TITLE: VP of Finance
--------------------------
DATE: 05/10/00
---------------------------
4 of 4
<PAGE> 5
<TABLE>
<S> <C>
Number of Contracts 39,646
Aggregate Contract Discounted Balance 470,253,515.35
Average Contract Discounted Balance 11,861.31
Minimum Contract Discounted Balance 93.06
Maximum Contract Discounted Balance 354,934.87
Aggregate Original Equipment Cost 528,693,396.88
Average Original Equipment Cost 13,335.35
Minimum Original Equipment Cost 177.76
Maximum Original Equipment Cost 473,622.65
WA Original Term 48.18
Min Original Term 5
Max Original Term 83
WA Remaining Term 40.97
Minimum Remaining Term 1
Maximum Remaining Term 78
WA Seasoning 7.21
Largest Obligor 0.10%
</TABLE>
CUTOFF DATE: 2/29/00
<PAGE> 6
DISTRIBUTION OF CONTRACTS BY CONTRACT PRINCIPAL BALANCE
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE
PERCENTAGE OF CONTRACT PERCENTAGE OF
NUMBER OF NUMBER OF CONTRACT PRINCIPAL AGGREGATE AGGREGATE
CURRENT BALANCE CONTRACTS CONTRACTS PRINCIPAL BALANCE BALANCE EQUIPMENT COST EQUIPMENT COST
- --------------- --------- ------------- ----------------- ------------- -------------- --------------
<S> <C> <C> <C> <C> <C> <C>
0.00 < to <= 5,000.00 14,940 37.68 41,673,345 8.86 53,655,041 10.15
5,000.00 < TO <= 10,000.00 9,647 24.33 69,501,478 14.78 81,414,730 15.40
10,000.00 < TO <= 15,000.00 5,896 14.87 71,375,278 15.18 79,716,239 15.08
15,000.00 < TO <= 20,000.00 2,662 6.71 46,062,984 9.80 51,370,749 9.72
20,000.00 < TO <= 25,000.00 1,800 4.54 40,225,072 8.55 44,846,800 8.48
25,000.00 < TO <= 50,000.00 3,644 9.19 127,471,955 27.11 138,713,438 26.24
50,000.00 < TO <= 100,000.00 975 2.46 61,634,268 13.10 64,979,272 12.29
100,000.00 < TO <= 200,000.00 71 0.18 9,459,350 2.01 10,648,905 2.01
200,000.00 < TO <= 300,000.00 8 0.02 1,859,195 0.40 2,075,006 0.39
GREATER THAN 300,000.00 3 0.01 990,591 0.21 1,273,216 0.24
- ----------------------- ------ ------ ----------- ------ ----------- ------
TOTAL: 39,646 100.00 470,253,515 100.00 528,693,397 100.00
</TABLE>
DISTRIBUTION OF CONTRACTS BY ORIGINAL CONTRACT TERM
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE
PERCENTAGE OF CONTRACT PERCENTAGE OF
NUMBER OF NUMBER OF CONTRACT PRINCIPAL AGGREGATE AGGREGATE
ORIGINAL TERM CONTRACTS CONTRACTS PRINCIPAL BALANCE BALANCE EQUIPMENT COST EQUIPMENT COST
- ------------- --------- ------------- ----------------- ------------- -------------- --------------
<S> <C> <C> <C> <C> <C> <C>
0 < to <= 12 840 2.12 2,742,728 0.58 4,848,807 0.92
12 < TO <= 24 3,292 8.30 18,449,138 3.92 26,546,816 5.02
24 < TO <= 36 17,593 44.38 159,909,580 34.00 191,972,050 36.31
36 < TO <= 48 4,604 11.61 58,856,781 12.52 65,150,203 12.32
48 < TO <= 60 12,649 31.90 219,793,963 46.74 228,693,263 43.26
60 < TO <= 72 665 1.68 10,168,686 2.16 11,137,755 2.11
72 < TO <= 84 3 0.01 332,639 0.07 344,503 0.07
- ------------- ------ ------ ----------- ------ ----------- ------
TOTAL: 39,646 100.00 470,253,515 100.00 528,693,397 100.00
</TABLE>
<PAGE> 7
DISTRIBUTION OF CONTRACTS BY ORIGINAL EQUIPMENT COST
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE
PERCENTAGE OF CONTRACT PERCENTAGE OF
NUMBER OF NUMBER OF CONTRACT PRINCIPAL AGGREGATE AGGREGATE
GROSS EQUIPMENT COST CONTRACTS CONTRACTS PRINCIPAL BALANCE BALANCE EQUIPMENT COST EQUIPMENT COST
- -------------------- --------- ------------- ----------------- ------------- -------------- --------------
<S> <C> <C> <C> <C> <C> <C>
0.00 < to <= 5,000.00 12,586 31.75 32,417,744 6.89 38,721,925 7.32
5,000.00 < TO <= 10,000.00 10,213 25.76 64,338,631 13.68 74,180,719 14.03
10,000.00 < TO <= 15,000.00 6,418 16.19 70,721,886 15.04 78,771,385 14.90
15,000.00 < TO <= 20,000.00 2,975 7.50 45,735,859 9.73 51,472,524 9.74
20,000.00 < TO <= 25,000.00 1,943 4.90 38,949,030 8.28 43,628,779 8.25
25,000.00 < TO <= 50,000.00 4,148 10.46 131,772,430 28.02 144,948,212 27.42
50,000.00 < TO <= 100,000.00 1,242 3.13 70,781,570 15.05 78,519,889 14.85
100,000.00 < TO <= 200,000.00 105 0.26 11,889,218 2.53 13,851,104 2.62
200,000.00 < TO <= 300,000.00 10 0.03 1,929,242 0.41 2,317,362 0.44
GREATER THAN 300,000.00 6 0.02 1,717,906 0.37 2,281,497 0.43
- ----------------------- ------ ------ ----------- ------ ----------- ------
TOTAL: 39,646 100.00 470,253,515 100.00 528,693,397 100.00
</TABLE>
DISTRIBUTION OF CONTRACTS BY PAYMENT FREQUENCY
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE
PERCENTAGE OF CONTRACT PERCENTAGE OF
NUMBER OF NUMBER OF CONTRACT PRINCIPAL AGGREGATE AGGREGATE
PAYMENT TYPE CONTRACTS CONTRACTS PRINCIPAL BALANCE BALANCE EQUIPMENT COST EQUIPMENT COST
- ------------ --------- ------------- ----------------- ------------- -------------- --------------
<S> <C> <C> <C> <C> <C> <C>
ANNUAL 33 0.08 213,643 0.05 309,003 0.06
VARIABLE 284 0.72 5,922,804 1.26 6,179,377 1.17
MONTHLY 38,666 97.53 461,068,658 98.05 518,477,536 98.07
QUARTERLY 655 1.65 3,005,018 0.64 3,675,871 0.70
SEMIANNUAL 8 0.02 43,392 0.01 51,609 0.01
- ---------- ------ ------ ----------- ------ ----------- ------
TOTAL: 39,646 100.00 470,253,515 100.00 528,693,397 100.00
</TABLE>
<PAGE> 8
DISTRIBUTION OF CONTRACTS BY STATE
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE
PERCENTAGE OF CONTRACT PERCENTAGE OF
NUMBER OF NUMBER OF CONTRACT PRINCIPAL AGGREGATE AGGREGATE
STATE CONTRACTS CONTRACTS PRINCIPAL BALANCE BALANCE EQUIPMENT COST EQUIPMENT COST
- ----- --------- ------------- ----------------- ------------- -------------- --------------
<S> <C> <C> <C> <C> <C> <C>
AK 60 0.15 998,123 0.21 1,100,222 0.21
AL 495 1.25 5,184,714 1.10 5,882,699 1.11
AR 208 0.52 2,508,605 0.53 2,780,444 0.53
AZ 797 2.01 8,674,368 1.84 9,838,077 1.86
CA 4,876 12.30 72,336,866 15.38 79,535,276 15.04
CO 727 1.83 8,911,845 1.90 9,907,531 1.87
CT 674 1.70 7,261,520 1.54 8,249,930 1.56
DC 219 0.55 2,617,247 0.56 3,169,782 0.60
DE 222 0.56 2,206,772 0.47 2,495,183 0.47
FL 3,637 9.17 40,045,025 8.52 45,085,614 8.53
GA 1,208 3.05 14,025,224 2.98 15,698,862 2.97
HI 97 0.24 1,271,733 0.27 1,363,479 0.26
IA 112 0.28 1,685,625 0.36 1,798,155 0.34
ID 124 0.31 1,311,860 0.28 1,450,196 0.27
IL 1,157 2.92 15,058,320 3.20 16,625,620 3.14
IN 430 1.08 4,898,508 1.04 5,320,340 1.01
KS 186 0.47 2,003,691 0.43 2,112,521 0.40
KY 370 0.93 3,467,180 0.74 3,891,293 0.74
LA 172 0.43 1,307,744 0.28 1,460,970 0.28
MA 1,470 3.71 16,865,645 3.59 19,799,848 3.75
MD 1,025 2.59 11,738,831 2.50 13,467,207 2.55
ME 144 0.36 1,803,335 0.38 1,935,746 0.37
MI 797 2.01 8,039,008 1.71 8,839,843 1.67
MN 443 1.12 6,002,841 1.28 6,668,076 1.26
MO 472 1.19 5,114,027 1.09 5,675,559 1.07
MS 184 0.46 1,691,546 0.36 1,853,190 0.35
MT 77 0.19 820,855 0.17 879,724 0.17
NC 1,176 2.97 12,685,440 2.70 13,988,147 2.65
ND 32 0.08 445,349 0.09 474,862 0.09
NE 83 0.21 1,143,359 0.24 1,223,740 0.23
NH 239 0.60 2,746,414 0.58 3,079,576 0.58
NJ 2,801 7.07 33,817,177 7.19 38,995,260 7.38
NM 267 0.67 2,529,837 0.54 2,776,864 0.53
NV 227 0.57 3,439,239 0.73 3,704,808 0.70
NY 3,295 8.31 38,898,363 8.27 44,283,325 8.38
OH 1,204 3.04 13,231,096 2.81 14,718,633 2.78
OK 316 0.80 3,433,342 0.73 3,848,192 0.73
OR 405 1.02 4,709,915 1.00 5,122,616 0.97
PA 2,357 5.95 23,505,989 5.00 26,965,572 5.10
PR 6 0.02 84,541 0.02 94,612 0.02
RI 383 0.97 3,782,875 0.80 4,344,394 0.82
SC 416 1.05 4,891,177 1.04 5,512,831 1.04
SD 42 0.11 485,729 0.10 532,302 0.10
SL 1 0.00 3,286 0.00 5,009 0.00
TN 378 0.95 5,038,175 1.07 5,688,219 1.08
TX 3,140 7.92 36,471,770 7.76 41,626,506 7.87
UT 203 0.51 2,910,448 0.62 3,185,850 0.60
VA 1,061 2.68 12,410,218 2.64 14,360,673 2.72
VI 6 0.02 33,230 0.01 43,843 0.01
VT 136 0.34 1,538,492 0.33 1,716,178 0.32
WA 531 1.34 7,237,853 1.54 7,888,470 1.49
WI 374 0.94 4,764,465 1.01 5,273,140 1.00
WV 128 0.32 1,556,833 0.33 1,687,850 0.32
WY 56 0.14 607,846 0.13 666,537 0.13
- -- ------ ------ ----------- ------ ----------- ------
TOTAL: 39,646 100.00 470,253,515 100.00 528,693,397 100.00
</TABLE>
<PAGE> 9
DISTRIBUTION OF CONTRACTS BY PURCHASE OPTION
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE
PERCENTAGE OF CONTRACT PERCENTAGE OF
NUMBER OF NUMBER OF CONTRACT PRINCIPAL AGGREGATE AGGREGATE
RESIDUAL TYPE CONTRACTS CONTRACTS PRINCIPAL BALANCE BALANCE EQUIPMENT COST EQUIPMENT COST
- ------------- --------- ------------- ----------------- ------------- -------------- --------------
<S> <C> <C> <C> <C> <C> <C>
FAIR MARKET 12,899 32.54 131,167,552 27.89 160,871,262 30.43
NOMINAL BUYOUT 14,106 35.58 179,420,963 38.15 192,554,120 36.42
OTHER 4,741 11.96 67,053,865 14.26 74,523,653 14.10
STATED RESIDUAL 7,900 19.93 92,611,136 19.69 100,744,363 19.06
- --------------- ------ ----- ----------- ----- ------------ -----
TOTAL: 39,646 100.00 470,253,515 100.00 528,693,397 100.00
</TABLE>
DISTRIBUTION OF CONTRACTS BY SOURCE OF CONTRACT
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE
PERCENTAGE OF CONTRACT PERCENTAGE OF
NUMBER OF NUMBER OF CONTRACT PRINCIPAL AGGREGATE AGGREGATE
SOURCE OF CONTRACT CONTRACTS CONTRACTS PRINCIPAL BALANCE BALANCE EQUIPMENT COST EQUIPMENT COST
- ------------------ --------- ------------- ----------------- ------------- -------------- --------------
<S> <C> <C> <C> <C> <C> <C>
BROKER 15,205 38.35 254,854,059 54.20 276,010,363 52.21
VENDOR 24,441 61.65 215,399,456 45.80 252,683,034 47.79
- ------ ------ ----- ----------- ------ ----------- ------
TOTAL: 39,646 100.00 470,253,515 100.00 528,693,397 100.00
</TABLE>
<PAGE> 10
DISTRIBUTION OF CONTRACTS BY EQUIPMENT TYPE
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE
PERCENTAGE OF CONTRACT PERCENTAGE OF
NUMBER OF NUMBER OF CONTRACT PRINCIPAL AGGREGATE AGGREGATE
EQUIPMENT DESCRIPTION CONTRACTS CONTRACTS PRINCIPAL BALANCE BALANCE EQUIPMENT COST EQUIPMENT COST
- --------------------- --------- ------------- ----------------- ------------- -------------- --------------
<S> <C> <C> <C> <C> <C> <C>
AIR COMPRESSORS 69 0.17 936,343 0.20 1,057,010 0.20
AMUSEMENT EQUIPMENT 91 0.23 1,458,544 0.31 1,557,064 0.29
AUTOMATED TELLER MACHINES 1,845 4.65 20,588,828 4.38 21,171,060 4.00
AUTOMOTIVE EQUIPMENT 1,200 3.03 15,369,575 3.27 16,432,510 3.11
COMMERCIAL FITNESS EQUIP 214 0.54 3,418,591 0.73 3,705,634 0.70
COMMERCL/INDUST CLEANING 503 1.27 4,548,376 0.97 4,879,180 0.92
COMMUNICATION EQUIPMENT 5,398 13.62 45,994,081 9.78 51,446,125 9.73
CONSTRUCTION EQUIPMENT 365 0.92 7,670,769 1.63 8,127,792 1.54
COPIERS 8,300 20.94 79,121,989 16.83 97,940,710 18.53
ENVIRONMENTAL 119 0.30 2,251,878 0.48 2,277,327 0.43
FREEZER/REFRIG/RESTAURANT 1,985 5.01 24,160,915 5.14 25,829,307 4.89
FURNITURE 582 1.47 11,587,365 2.46 12,215,288 2.31
HEAVY MACHINERY 2,010 5.07 35,943,662 7.64 39,011,287 7.39
LANDSCAPING EQUIPMENT 281 0.71 3,468,479 0.74 3,705,184 0.70
LAUNDRY EQUIPMENT 197 0.50 4,655,074 0.99 4,961,171 0.94
MAILING MACHINES & EQUIP 740 1.87 7,529,062 1.60 8,753,331 1.66
MEASURING EQUIPMENT 61 0.15 878,536 0.19 902,369 0.17
MEDICAL EQUIPMENT 676 1.71 13,865,466 2.95 15,658,520 2.96
MICROCOMPUTERS & PRINTERS 7,047 17.77 96,525,652 20.53 109,545,549 20.72
OFFICE EQUIPMENT 838 2.11 5,307,113 1.13 5,980,147 1.13
PHOTOGRAPHY EQUIPMENT 440 1.11 4,159,347 0.88 4,979,588 0.94
POINT OF SALE SYSTEMS 691 1.74 10,126,342 2.15 10,948,187 2.07
PRESSURE WASHERS 127 0.32 723,097 0.15 792,105 0.15
PRINTING EQUIPMENT 323 0.81 5,675,906 1.21 6,096,384 1.15
SAFES 15 0.04 101,840 0.02 109,444 0.02
SEWING AND EMBROIDERY 180 0.45 5,054,232 1.07 5,704,457 1.08
SIGNS/DISPLAY 77 0.19 1,186,337 0.25 1,278,791 0.24
SOFTWARE 707 1.78 12,022,272 2.56 13,703,824 2.59
STENOGRAPH 427 1.08 1,973,496 0.42 2,168,415 0.41
SURVEILLANCE SYSTEM 2,786 7.03 25,250,623 5.38 26,663,617 5.04
VENDING EQUIPMENT 562 1.42 7,434,352 1.58 8,731,022 1.65
WATER COOLERS 90 0.23 517,495 0.11 564,036 0.11
OTHER 700 1.77 10,747,881 2.29 11,796,966 2.23
- ----------------------- ------ ------ ----------- ------ ----------- ------
Total: 39,646 100.00 470,253,515 100.00 528,693,397 100.00
</TABLE>
DISTRIBUTION OF CONTRACTS BY REMAINING MONTHS TO STATED MATURITY
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE
PERCENTAGE OF CONTRACT PERCENTAGE OF
NUMBER OF NUMBER OF CONTRACT PRINCIPAL AGGREGATE AGGREGATE
REMAINING TERM (MONTHS) CONTRACTS CONTRACTS PRINCIPAL BALANCE BALANCE EQUIPMENT COST EQUIPMENT COST
- ----------------------- --------- ------------- ----------------- ------------- -------------- --------------
<S> <C> <C> <C> <C> <C> <C>
0 < to <= 12 2,006 5.06 6,762,291 1.44 13,591,484 2.57
12 < TO <= 24 7,385 18.63 50,847,101 10.81 71,616,874 13.55
24 < TO <= 36 14,139 35.66 141,938,872 30.18 161,429,529 30.53
36 < TO <= 48 5,993 15.12 91,985,719 19.56 101,079,361 19.12
48 < TO <= 60 9,981 25.18 175,541,069 37.33 177,791,472 33.63
60 < TO <= 72 139 0.35 2,845,825 0.61 2,840,173 0.54
72 < TO <= 84 3 0.01 332,639 0.07 344,503 0.07
- ------------- ------ ------ ----------- ------ ----------- ------
TOTAL: 39,646 100.00 470,253,515 100.00 528,693,397 100.00
</TABLE>
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