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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
February 15, 2000
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Date of Report
(Date of earliest event reported)
Fremont Funding Inc., as Transferor
Fremont Small Business Loan Master Trust
$135,000,000 Variable Rate Asset Backed Certificates, Series C
$100,000,000 Variable Rate Asset Backed Certificates, Series D - Class A
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(Exact name of registrant as specific in its charter)
33-73508
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(Commission File Number)
Delaware 95-4398057
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(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
2020 Santa Monica Boulevard
Suite 500
Santa Monica, CA 90404-2023
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(Address of Principal Executive Offices)
(310) 315-5500
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(Registrant's telephone number, including area code)
Not Applicable
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(Former name or former address, if changed since last report)
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<PAGE>
This report is filed on behalf of the Fremont Small Business Loan Master
Trust (the "Trust") established pursuant to the Amended and Restated Pooling and
Servicing Agreement dated as of April 1, 1997, as supplemented by the Series
1995-1 Supplement dated as of March 1, 1995, the Series C Supplement dated as of
February 1, 1996 (the "Series C Supplement"), the Series D Supplement dated as
of April 1, 1997 (the "Series D Supplement") and the Amended and Restated
Variable Funding Supplement dated as of November 30, 1995 (together, the
"Pooling and Servicing Agreement") by and among Fremont Funding Inc., as
transferor ("Fremont Funding"), Fremont Financial Corporation, as servicer
("Fremont Financial"), and LaSalle National Bank, as trustee (the "Trustee").
All defined terms used herein and not otherwise defined shall have the meaning
set forth in the Pooling and Servicing Agreement.
ITEM 1. CHANGES IN CONTROL OF REGISTRANT.
Not applicable.
ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS.
Not applicable.
ITEM 3. BANKRUPTCY OR RECEIVERSHIP.
Not applicable.
ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT.
Not applicable.
ITEM 5. OTHER EVENTS.
Matter reportable under Item 1, 2, 4 or 5 of Part II of Form 10-Q:
Item 1. Legal Proceedings: None.
Item 2. Changes in Securities: None.
Item 4. Submission of Matters to a Vote of Security Holders: None.
Item 5. Other Information: None.
ITEM 6. RESIGNATIONS OF REGISTRANT'S DIRECTORS.
Not applicable.
<PAGE>
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(a) Financial Statements of Business Acquired.
Not applicable.
(b) Pro Forma Financial Information.
Not applicable.
(c) Exhibits.
Exhibit No. Description
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99.1 Payment Date Statement dated February 15, 2000
ITEM 8. CHANGE IN FISCAL YEAR.
Not applicable.
<PAGE>
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.
FREMONT FUNDING INC.
By: /s/ Bruno A. Marszowski
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Name: Bruno A. Marszowski
Title: Senior Vice President -
Controller and Chief Financial
Officer
Date: February 24, 2000
<PAGE>
EXHIBIT INDEX
Exhibit No. Description Page No.
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99.1 Payment Date Statement dated February 15, 2000
FREMONT SMALL BUSINESS LOAN MASTER TRUST
FREMONT FINANCIAL CORPORATION - AS SERVICER
PAYMENT DATE STATEMENT
SETTLEMENT PERIOD: JAN-00 PAYMENT DATE: 2/15/00
AS OF THE RECORD DATE:
Series C Invested Amount $ 135,000,000
Series C Pool Factor 1.00000000000
Series D (Class A and B) Invested Amount $ 109,260,000
Series D (Class A and B) Pool Factor 1.00000000000
Subordinated Series 1995-1 Invested Amount $ 30,000,000
Subordinated Series 1995-1 Pool Factor 1.00000000000
Variable Funding Certificate (VFC)
Invested Amount $ 32,000,000
FOR THE SETTLEMENT PERIOD: Per $1,000
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Gross Collections for the Settlement Period $ 261,404,413 $ 53.54
Defaulted Amount for the Settlement Period -- --
Recoveries for the Settlement Period 6,000 0.02
CERTIFICATE/FEE DISTRIBUTION ON: 2/15/00
Interest on the Series C Certificates $ 642,731.25 $ 2.10
Interest on the Series D - Class A
Certificates 467,541.67 1.53
Interest on the Subordinated Series 1995-1
Certificates 157,062.50 0.51
Interest on the Series D - Class B
Certificates 47,039.51 0.15
Principal of the Series C Certificates -- --
Principal of the Series D - Class A
Certificates -- --
Principal on the Subordinated Series 1995-1
Certificates -- --
Principal of the Series D - Class B
Certificates -- --
Servicing Fee 653,203.34 2.13
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Total of distributions $ 1,967,578.27 $ 6.42
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VFC ACTIVITY FOR THE JANUARY 2000
SETTLEMENT PERIOD:
Beginning principal of the Variable
Funding Certificate $ 48,000,000.00
Principal from the Variable Funding
Certificateholder 6,000,000.00
Principal to the Variable Funding
Certificateholder (22,000,000.00)
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Ending principal of the Variable
Funding Certificate $ 32,000,000.00
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Interest for the Settlement Period
for the VFC $ 203,102.49 $ 0.66
Liquidity Fees for the Settlement
Period for the VFC 18,217.10 0.06
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Total VFC Interest and Liquidity Fees
for the Settlement Period $ 221,319.59 $ 0.72
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AS OF THE END OF THE JANUARY 2000
SETTLEMENT PERIOD:
Subordinated Amounts:
Series C Certificates $ 31,666,667
Series D - Class A Certificates $ 23,456,790
Variable Funding Certificate (VFC) $ 7,506,173
Aggregate Subordinated Transferor Amount $ 39,796,497
Cash Collateral Account balance $ --
Collection Account balance $ 2,525,000
Excess Funding Account balance $ 1,300,000
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- - Amounts per $1,000 are in relation to the aggregated Invested Amount
(Series C and D, the VFC and Subordinated Series 1995-1) as of the Record
Date.
- - Interest is for the Interest Accrual Period ending February 15th.
- - The Series C Certificate Rate was 6.12125% for this Interest Accrual
Period.
- - The Series D - Class A Certificate Rate was 6.01125% for this Interest
Accrual Period.
- - The Subordinated Series 1995-1 Certificate Rate was 6.73125% for this
Interest Accrual Period.
- - The Series D - Class B Certificate Rate was 6.53125% for this Interest
Accrual Period.
