ATEL Growth Capital Fund 8 10-Q 16 May 16 2016 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2016	Apr. 30, 2016
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Entity Registrant Name	ATEL Growth Capital Fund 8, LLC
Entity Central Index Key	1,537,069
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Units Outstanding		1,618,296

Balance Sheets

Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
ASSETS
Cash and cash equivalents	$ 3,274	$ 3,018
Accounts receivable	2	3
Notes receivable, net	4,870	5,722
Investment in securities	591	433
Fair value of warrants	736	722
Due from affiliates	43	134
Prepaid expenses and other assets	69	4
Total assets	9,585	10,036
Accounts payable and accrued liabilities:
Managing Member	27	28
Accrued distributions to Other Members	250	250
Other	5	2
Total liabilities	$ 282	$ 280
Commitments and contingencies
Members' capital:
Managing Member
Other Members	$ 9,303	$ 9,756
Total Members' capital	9,303	9,756
Total liabilities and Members' capital	$ 9,585	$ 10,036

Statements of Income

Statements of Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Revenues:
Notes receivable interest income, including accretion of net note origination costs and discounts	$ 166	$ 200
Unrealized gain on fair valuation of warrants	14
Other	8	11
Total revenues	188	211
Expenses:
Acquisition expense		96
Cost reimbursements to affiliates	56	51
Provision for credit losses	9	51
Asset management fees to Managing Member	21	17
Professional fees	38	34
Outside services	10	12
Taxes on income and franchise fees	3	2
Bank charges	5	3
Printing and photocopying	2	2
Other	3	13
Total expenses	147	281
Net income (loss)	41	(70)
Net income (loss):
Managing Member	49	49
Other Members	(8)	(119)
Net income (loss)	$ 41	$ (70)
Net loss per Limited Liability Company Unit (Other Members)	$ 0	$ (0.07)
Weighted average number of Units outstanding	1,618,296	1,618,296

Statements of Changes in Member

Statements of Changes in Members' Capital - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Beginning Balance (in units)	1,618,296
Beginning Balance	$ 9,756	$ 11,330	$ 11,330
Distributions to Other Members	(445)	(445)	(1,779)
Distributions to Managing Member	(49)		(198)
Net (loss) income	$ 41	$ (70)	$ 403
Ending Balance (in units)	1,618,296		1,618,296
Ending Balance	$ 9,303		$ 9,756
Other Members [Member]
Beginning Balance (in units)	1,618,296	1,618,296	1,618,296
Beginning Balance	$ 9,756	$ 11,330	$ 11,330
Distributions to Other Members	(445)		(1,779)
Net (loss) income	$ (8)		$ 205
Ending Balance (in units)	1,618,296		1,618,296
Ending Balance	$ 9,303		$ 9,756
Managing Member [Member]
Beginning Balance
Distributions to Managing Member	(49)		$ (198)
Net (loss) income	$ 49		$ 198

Statements of Changes in Membe5

Statements of Changes in Members' Capital (Parenthetical) - $ / shares	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Statements of Changes in Members' Capital [Abstract]
Distributions to Other Members, per unit	$ 0.27	$ 0.27	$ 1.10

Statements of Cash Flows

Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Operating activities:
Net income (loss)	$ 41	$ (70)
Adjustment to reconcile net income (loss) to cash provided by (used in) operating activities:
Accretion of note discount - warrants	(13)	(21)
Amortization of net note origination costs	5	6
Gain on sales or dispositions of investment in securities	0	0
Provision for credit losses	9	51
Unrealized gain on fair valuation of warrants	(14)
Changes in operating assets and liabilities:
Accounts receivable	1	(8)
Due from affiliates	91
Prepaid expenses and other assets	(65)	(17)
Accounts payable, Managing Member	(1)
Accounts payable, other	3	2
Accrued liabilities, affiliates		6
Unearned fee income related to notes receivable	(8)	(3)
Net cash provided by (used in) by operating activities	49	(54)
Investing activities:
Advance payments	(18)	10
Purchase of securities	(158)
Payments of note origination costs	(1)
Note receivable and warrants advances		(529)
Principal payments received on notes receivable	878	682
Net cash provided by investing activities	701	163
Financing activities:
Net cash used in financing activities	(494)	(494)
Net increase (decrease) in cash and cash equivalents	256	(385)
Cash and cash equivalents at beginning of period	3,018	4,924
Cash and cash equivalents at end of period	3,274	4,539
Other Members [Member]
Operating activities:
Net income (loss)	(8)
Financing activities:
Distributions to Members	(445)	(445)
Schedule of non-cash investing and financing transactions:
Distributions payable to Other Members at period-end	250	250
Managing Member [Member]
Operating activities:
Net income (loss)	49
Financing activities:
Distributions to Members	(49)	(49)
Schedule of non-cash investing and financing transactions:
Distributions payable to Other Members at period-end	$ 28	$ 28

Organization and Limited Liabil

Organization and Limited Liability Company Matters	3 Months Ended
	Mar. 31, 2016
Organization and Limited Liability Company Matters [Abstract]
Organization and Limited Liability Company Matters	1. Organization and Limited Liability Company matters:  ATEL Growth Capital Fund 8, LLC (the “Company” or the “Fund”) was formed under the laws of the state of California on December 8, 2011 for the purpose of providing financing for the acquisition of equipment and other goods and services used by emerging growth companies and established privately held companies without publicly traded securities, and for providing other forms of financing for, and to acquire equity interests and warrants and rights to purchase equity interests in such companies. The Fund may continue until it is terminated in accordance with the ATEL Growth Capital Fund 8, LLC limited liability company operating agreement dated December 13, 2011 (the “Operating Agreement”). The Managing Member of the Company is AGC Managing Member, LLC (the “Managing Member” or “Manager”), the renamed AGC 8 Managing Member, LLC which was formed in December 2011 as a Nevada limited liability company. Such name change is the result of an amendment to the articles of incorporation filed with the State of Nevada effective March 18, 2014. Contributions in the amount of $ 500 were received as of December 31, 2011, which represented the initial Member’s capital investment. As a limited liability company, the liability of any individual member for the obligations of the Fund is limited to the extent of capital contributions to the Fund by the individual member.  The Company conducted a public offering of 7,500,000 Limited Liability Company Units (“Units”), at a price of $10 per Unit. As of November 14, 2012, subscriptions for the minimum number of Units ( 120,000 , representing $1.2 million ), excluding subscriptions from Pennsylvania investors, had been received and the Fund requested subscription proceeds to be released from escrow. On that date, the Company commenced initial operations. Pennsylvania subscriptions are subject to a separate escrow and are released to the Fund only at such time as total subscription proceeds received by the Fund from all subscribers, including the escrowed Pennsylvania subscriptions, equal to not less than $3.75 million in gross proceeds. Total contributions to the Fund exceeded $3.75 million on March 13, 2013, at which time a request was processed to release the Pennsylvania escrowed amounts. The offering was terminated on August 20, 2014.  Through March 31, 2016, cumulative contributions, net of rescissions and related distributions paid, totaling $16.2 million ( inclusive of the $500 initial M ember’s capital investment ) have been received. As of March 31, 2016 , a total of 1,618,296 Units were issued and outstanding .  Prior to the termination of its offering, the Fund, or Managing Member on behalf of the Fund, incurred costs in connection with the organization, registration and issuance of the Units. The amount of such costs borne by the Fund was limited by certain provisions of the Operating Agreement.  The Company’s principal objectives are to invest in a diversified portfolio of investments that will (i) preserve, protect and return the Company’s invested capital; (ii) generate regular cash distributions to Unitholders, with any balance remaining after required minimum distributions to be used to purchase additional investments during the Reinvestment Period (ending six calendar years after the completion of the Company’s public offering of Units) , (iii) provide additional distributions to Unitholders from any proceeds from sales of Equity interests and (iv) provide total cash distributions to Unitholders equal to a desirable rate of return on their investment capital . The Company is governed by the Operating Agreement.  These unaudited interim financial statements should be read in conjunction with the financial statements and notes thereto contained in the report on Form 10-K for the year ended December 31, 2015, filed with the Securities and Exchange Commission. 

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2016
Summary of Significant Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of S ignificant Accounting P olicies:  Basis of presentation:  The accompanying unaudited financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and with the instructions to Form 10-Q as mandated by the Securities and Exchange Commission. The unaudited interim financial statements reflect all adjustments which are, in the opinion of the Managing Member, necessary for a fair statement of financial position and results of operations for the interim periods presented. All such adjustments are of a normal recurring nature. Operating results for the three months ended March 31, 2016 are not necessarily indicative of the results to be expected for the full year.  Certain prior period amounts may have been reclassified to conform to the current period presentation. These reclassifications had no significant effect on the reported financial position or results of operations.  Footnote and tabular amounts are presented in thousands, except as to Units and per Unit data.  In preparing the accompanying financial statements, the Company has reviewed, as determined necessary by the Managing Member, events that have occurred after March 31, 2016 , up until the issuance of the financial statements. No events were noted which would require additional disclosure in the footnotes to the financial statements.  Use of e stimates:  The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from the estimates. Such estimates primarily relate to the determination of credit losses on notes receivable and the fair valuation of equity securities and warrants.  Segment reporting:  The Company is organized into one operating segment for the purpose of making operating decisions or assessing performance. Accordingly, the Company operates in one reportable operating segment in the United States.  The primary geographic region in which the Company seeks financing opportunities is North America. Currently, 100 % of the Company’s operating revenues are from customers domiciled in North America.  Investment in securities:  From time to time, the Company may purchase securities of its borrowers or receive warrants and rights to purchase securities in connection with its lending arrangements.  Purchased securities  Purchased securities (primarily preferred stocks) are generally not registered for public sale and are carried at cost. Such securities are adjusted to fair value if the fair value is less than the carrying value and such impairment is deemed by the Managing Member to be other than temporary. Factors considered by the Managing Member in determining fair value include , but are not limited to, available financial information, the issuer’s ability to meet its current obligations and indications of the issuer’s subsequent ability to raise capital. As of March 31, 2016 and December 31, 2015 , investments in equity securities totaled $591 thousand and $433 thousand, respectively . There were no sales or dispositions of securities during the three months ended March 31, 2016 and 2015.  Warrants  Warrants owned by the Company are not registered for public sale, but are considered derivatives and are reflected at an estimated fair value on the balance sheet as determined by the Managing Member. At March 31, 2016 and December 31, 2015, the Managing Member estimated the fair value of warrants to be $736 thousand and $722 thousand , respectively. During the three months ended March 31, 2016, t he Company recorded unrealized gains of $14 thousand on fair valuation of its warrants. There were no unrealized gains or losses recorded during the prior year period. There were no exercises of warrants, net or otherwise, during the three months ended March 31, 2016 and 2015. See Note 9 for further discussion.   Per Unit data:  The Company issues only one class of Units, none of which are considered dilutive. Net income (loss) per Unit is based upon the weighted average number of Other Members Units outstanding during the period .  Recent accounting pronouncements:  In January 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update 2016-01, Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities (“ASU 2016-01”). The new standard provides guidance related to accounting for equity investments and financial liabilities under the fair value option, and the presentation and disclosure requirements for financial instruments. In addition, FASB clarified guidance related to the valuation allowance assessment when recognizing deferred tax assets resulting from unrealized losses on available-for-sale debt securities. ASU 2016-01 is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Management is currently evaluating the standard and its operational and related disclosure requirements.  In August 2014, the FASB issued Accounting Standards Update 2014-15, Presentation of Financial Statements — Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (“ASU-2014-15”). The new standard provides guidance relative to management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern and to provide related footnote disclosures. The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2016. Early adoption is permitted. Management does not expect the adoption of ASU 2014-15 to have a material impact on the Company’s financial statements or related disclosures.  In May 2014, the FASB issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”), which amends the existing accounting standards for revenue recognition. ASU 2014-09 is based on principles that govern the recognition of revenue at an amount an entity expects to be entitled when products are transferred to customers. On July 9, 2015, the FASB approved the deferral of the effective date of ASU 2014-09 by one year and in August 2015, issued Revenue from Contracts from Customers (Topic 606): Deferral of the Effective Date (“ASU 2015-14”). ASU 2015-14 is effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. Earlier application is permitted only as of annual reporting periods beginning after December 31, 2016, including interim reporting periods within that reporting period. The new revenue standard may be applied retrospectively to each prior period presented or retrospectively with the cumulative effect recognized as of the date of adoption. The Company evaluated the impact of the new standard on its financial statements and has determined that such impact is virtually non-existent as the new revenue guideline does not affect revenues from loans, which comprise the majority of the Company’s revenues.  

Notes Receivable, Net

Notes Receivable, Net	3 Months Ended
	Mar. 31, 2016
Notes Receivable, Net [Abstract]
Notes Receivable, Net	3. Notes receivable, net:  The Company has various notes receivable from borrowers who have financed the purchase of equipment through the Company. As of March 31, 2016, t he terms of the notes receivable are from 24 to 42 months and bear interest at implicit or stated rates ranging from 11.25 % to 18.00 % per annum. The notes are secured by the equipment financed and have maturity dates ranging from 2016 through 2019 .  As of March 31, 2016, the C ompany has six notes which were on non-accrual status, three of which were also on non-accrual status as of December 31, 2015.  The three notes which were on non-accrual status at both March 31, 2016 and December 31, 2015 were originally placed in such status as of December 1, 2014. As of December 31, 2014, these notes had net recorded investment of $40 thousand, $79 thousand and $53 thousand, respectively, with rates ranging from 11.54% to 11.73% . There were no fair value adjustments on these impaired notes until 2015 when the Company recorded combined fair value adjustments totaling $97 thousand. As of December 31, 2015, the fair values of such notes were $14 thousand, $26 thousand and $15 thousand, respectively, before accretion of net note origination costs and discounts. During the first quarter of 2016, additional combined fair value adjustments totaling $9 thousand were recorded. As of March 31, 2016, the fair values of the notes were $10 thousand, $20 thousand and $11 thousand, respectively.  Effective January 1, 2015, the notes were modified to defer the repayment of principal while maintaining interest-only payments at their original rates through June 30, 2015. During the second quarter of 2015, additional modifications were made which extended the interest-only payments through October 31, 2015. Such date was further extended during the fourth quarter of 2015 to June 30, 2016. The entire balance outstanding on these notes is expected to be paid on July 1, 2016 . The payments will be adjusted such that the ultimate amounts paid will reflect interest earned at a composite rate of 18.00% per annum as related to the entire term of the indebtedness from the original funding date. Payments received on these non-accrual notes have been fully applied against principal pursuant to the Company’s policy on non-accrual notes. Interest not recorded relative to the original terms of the non-accrual notes approximated $1 6 thousand from December 2014 to March 2016.  On February 1, 2016, the Company placed three additional notes related to one borrower on non-accrual status. As of March 31, 2016, these notes had net recorded investment of $365 thousand, $250 thousand and $228 thousand, respectively. Each of the three notes have a stated annual interest rate of 14.14% . There were no fair value adjustments related to these notes. As of March 31, 2016 , a formal forbearance agreement has yet to be entered into. Payments received on these non-accrual notes have been fully applied against principal pursuant to the Company’s policy on non-accrual notes. Interest not recorded relative to the original terms of the non-accrual notes approximated $20 thousand from February 2016 to March 2016.  As of March 31, 2016, the minimum future payments receivable are as follows (in thousands):    Nine months ending December 31, 2016 $ 2,905  Year ending December 31, 2017 2,018  2018 828  2019 22  5,773  Less: portion representing unearned interest income, net (797)  Less: allowance for credit losses (106)  Notes receivable, net $ 4,870 

Allowance for Credit Losses

Allowance for Credit Losses	3 Months Ended
	Mar. 31, 2016
Allowance for Credit Losses [Abstract]
Allowance for Credit Losses	4. Allowance for credit losses:  The Company’s allowance for credit losses are as follows (in thousands):    Allowance for Doubtful Accounts - Notes Receivable Valuation Adjustments - Notes Receivable Total Allowance for Credit Losses  Balance December 31, 2014 $ - $ - $ -  Provision for credit losses - 97 97  Balance December 31, 2015 - 97 97  Provision for credit losses - 9 9  Balance March 31, 2016 $ - $ 106 $ 106  Allowance for Doubtful Accounts  Accounts receivable represent the amounts billed under notes receivable which are currently due to the Company.  Allowances for doubtful accounts are typically established based upon their aging and historical charge off and collection experience and the creditworthiness of specifically identified borrowers, and invoiced amounts. Accounts receivable deemed uncollectible are generally charged off against the allowance on a specific identification basis. Recoveries of amounts that were previously written-off are recorded as other income in the period received.  Accounts receivable are generally placed in a non-accrual status (i.e., no revenue is recognized) when payments are more than 90 days past due. Additionally, management periodically reviews the creditworthiness of companies with note payments outstanding less than 90 days. Based upon management’s judgment, such notes may be placed in non-accrual status. Notes placed on non-accrual status are only returned to an accrual status when the account has been brought current and management believes recovery of the remaining unpaid receivable is probable. All payments received on amounts billed under notes receivable are applied only against outstanding principal balances.  Valuation Adjustments  In addition to the allowance established for delinquent accounts receivable, the total allowance also includes anticipated impairment charges on notes receivable.  Notes are considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal and/or interest when due according to the contractual terms of the note agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest when due. If it is determined that a loan is impaired with regard to scheduled payments, the Company will perform an analysis of the note to determine if an impairment valuation reserve is necessary. This analysis considers the estimated cash flows from the note, or the collateral value of the property underlying the note when note repayment is collateral dependent. Any required valuation reserve is charged to earnings when determined; and notes are charged off to the allowance as they are deemed uncollectible.  The Company’s allowance for credit losses and its recorded investment in notes receivable as of March 31, 2016 and December 31, 2015 were as follows (in thousands):   March 31, 2016 Notes Receivable  Allowance for credit losses:  Ending balance $ 106  Ending balance: individually evaluated for impairment $ 106  Ending balance: collectively evaluated for impairment $ -  Ending balance: loans acquired with deteriorated credit quality $ -   Financing receivables:  Ending balance $ 4,976  Ending balance: individually evaluated for impairment $ 4,976  Ending balance: collectively evaluated for impairment $ -  Ending balance: loans acquired with deteriorated credit quality $ -   December 31, 2015 Notes Receivable  Allowance for credit losses:  Ending balance $ 97  Ending balance: individually evaluated for impairment $ 97  Ending balance: collectively evaluated for impairment $ -  Ending balance: loans acquired with deteriorated credit quality $ -   Financing receivables:  Ending balance $ 5,819  Ending balance: individually evaluated for impairment $ 5,819  Ending balance: collectively evaluated for impairment $ -  Ending balance: loans acquired with deteriorated credit quality $ -  The Company evaluates the credit quality of its notes receivables on a scale equivalent to the following quality indicators related to corporate risk profiles:  Pass – Any account whose debtor, co-debtor or any guarantor has a credit rating on publicly traded or privately placed debt issues as rated by Moody’s or S&P for either Senior Unsecured debt, Long Term Issuer rating or Issuer rating that are in the tiers of ratings generally recognized by the investment community as constituting an Investment Grade credit rating; or, has been determined by the Manager to be an Investment Grade Equivalent or High Quality Corporate Credit per its Credit Policy or has a Not Rated internal rating by the Manager and the account is not considered by the Chief Credit Officer of the Manager to fall into one of the three risk profiles below.  Special Mention – Any traditional corporate type account with potential weaknesses (e.g. large net losses or major industry downturns) or, any growth capital account that has less than three months of cash as of the end of the calendar quarter to fund their continuing operations. These accounts deserve management’s close attention. If left uncorrected, those potential weaknesses may result in deterioration of the Fund’s receivable at some future date.  Substandard – Any account that is inadequately protected by the current worth and paying capacity of the borrower or of the collateral pledged, if any. Accounts that are so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the Fund will sustain some loss as the likelihood of fully collecting all receivables may be questionable if the deficiencies are not corrected. Such accounts are on the Manager’s Credit Watch List.  Doubtful – Any account where the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. Accordingly, an account that is so classified is on the Manager’s Credit Watch List, and has been declared in default and the Manager has repossessed, or is attempting to repossess, the equipment it financed. This category includes impaired notes and leases as applicable.  At March 31, 2016 and December 31, 2015, the Company’s notes receivables by credit quality indicator and by class of financing receivables are as follows (excludes initial direct costs) (in thousands):    Notes Receivable  March 31, 2016 December 31, 2015  Pass $ 3,925 $ 4,657  Special mention 904 1,011  Substandard 147 151  Doubtful - -  Total $ 4,976 $ 5,819  As of March 31, 2016 and December 31, 2015, the Company’s impaired loans were as follows (in thousands):     Impaired Loans  March 31, 2016 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized  With no related allowance recorded  Notes receivable $ - $ - $ - $ - $ -  With an allowance recorded  Notes receivable 147 147 106 147 -  Total $ 147 $ 147 $ 106 $ 147 $ -     Impaired Loans  December 31, 2015 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized  With no related allowance recorded  Notes receivable $ - $ - $ - $ - $ -  With an allowance recorded  Notes receivable 151 152 97 160 -  Total $ 151 $ 152 $ 97 $ 160 $ -  At March 31, 2016 and December 31, 2015, investment in financing receivables is aged as follows (in thousands):     March 31, 2016 31-60 Days Past Due 61-90 Days Past Due Greater Than 90 Days Total Past Due Current Total Financing Receivables Recorded Investment>90 Days and Accruing  Notes receivable $ - $ - $ - $ - $ 4,976 $ 4,976 $ -  Total $ - $ - $ - $ - $ 4,976 $ 4,976 $ -     December 31, 2015 31-60 Days Past Due 61-90 Days Past Due Greater Than 90 Days Total Past Due Current Total Financing Receivables Recorded Investment>90 Days and Accruing  Notes receivable $ - $ - $ - $ - $ 5,819 $ 5,819 $ -  Total $ - $ - $ - $ - $ 5,819 $ 5,819 $ -  As of March 31, 2016, the Company has six notes which were on non-accrual status, three of which were also on non-accrual status as of December 31, 2015 (See Note 3 for details).

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2016
Related Party Transactions [Abstract]
Related Party Transactions	5 . Related party transactions:  The terms of the Operating Agreement provide that the Managing Member and/or affiliates are entitled to receive certain fees for equipment management and resale and for management of the Company.  The Operating Agreement allows for the reimbursement of costs incurred by the Managing Member and/or affiliates for providing administrative services to the Company. Administrative services provided include Company accounting, investor relations, legal counsel and equipment financing documentation. The Managing Member is not reimbursed for services whereby it is entitled to receive a separate fee as compensation for such services, such as management of investments.  Cost reimbursements to the Managing Member or its affiliates are based on its costs incurred in performing administrative services for the Company. These costs are allocated to each managed entity based on certain criteria such as total assets, number of investors or contributed capital based upon the type of cost incurred. The Managing Member believes that the costs reimbursed are the lower of (i) actual costs incurred on behalf of the Company or (ii) the amount the Company would be required to pay independent parties for comparable administrative services in the same geographic location.  During the three months ended March 31, 2016 and 2015, the Managing Member and/or affiliates earned commissions and fees, and billed for reimbursements of costs and expenses pursuant to the Operating Agreement as follows (in thousands):    Three Months Ended March 31,  2016 2015  Administrative costs reimbursed to Managing Member and/or affiliates $ 56 $ 51  Asset management fees to Managing Member 21 17  Acquisition costs and note origination fees paid to Managing Member 1 96  $ 78 $ 164 

Commitments

Commitments	3 Months Ended
	Mar. 31, 2016
Commitments [Abstract]
Commitments	6. C ommitments:  At March 31, 2016 , there were commitments to fund investments in notes receivable totaling $2.2 million . These amounts represent contract awards which may be canceled by the prospective borrower/investee or may not be accepted by the Company. 

Guarantees

Guarantees	3 Months Ended
	Mar. 31, 2016
Guarantees [Abstract]
Guarantees	7. Guarantees:  The Company enters into contracts that contain a variety of indemnifications. The Company’s maximum exposure under these arrangements is unknown. However, based upon the Manager’s experience, there have not been any prior claims or losses pursuant to these types of contracts and the expectation of risk of loss is remote.  The Managing Member knows of no facts or circumstances that would make the Company’s contractual commitments outside standard mutual covenants applicable to commercial transactions between businesses. Accordingly, the Company believes that these indemnification obligations are made in the ordinary course of business as part of standard commercial and industry practice, and that any potential liability under the Company’s similar commitments is remote. Should any such indemnification obligation become payable, the Company would separately record and/or disclose such liability in accordance with GAAP.

Members' Capital

Members' Capital	3 Months Ended
	Mar. 31, 2016
Members' Capital [Abstract]
Members' Capital	8 . Members’ Capital:  A total of 1,618,296 Units were issued and outstanding as of March 31, 2016 and December 31 , 201 5 . The Fund is authorized to issue up to 7,500,000 Units in addition to the Units issued to the initial M ember ( 50 Units).  From the commencement of the Fund until the initial closing date, as defined in the Operating Agreement, the Company’s net income and net losses are allocated 100 % to the Manager. Commencing with the initial closing date, net income and net losses are allocated 100 % to the Members. An amount e qual to 5 % of all Distributions of Cash Available for Distribution and Net Disposition Proceeds will be allocated to the Manager as the carried interest. An amount equal to (i) an additional 5 % of all Distributions from Cash Available for Distribution and 1 % of all Distributions of Net Disposition Proceeds will be paid to the Manager as a promotional interest until investors have received total distributions in amounts equal to their Capital Contributions plus an amount equal to a priority return of 8 % per annum as defined in the Operating Agreement; and (ii) then 15 % of all subsequent distributions will be allocated to the Manager as a promotional interest. Distributions not allocated to the Manager as carried or promotional interests will be allocated and paid to the Unitholders.  Distributions to the Other Members for the three months ended March 31, 2016 and 2015 a re as follows (in thousands, except as to Units and per Unit data):    Three Months Ended March 31,  2016 2015  Distributions declared $ 445 $ 445  Weighted average number of Units outstanding 1,618,296 1,618,296  Weighted average distributions per Unit $ 0.27 $ 0.27 

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2016
Fair Value Measurements [Abstract]
Fair Value Measurements	9 . Fair value measurements:  Fair value measurements and disclosures are based on a fair value hierarchy as determined by significant inputs used to measure fair value. The three levels of inputs within the fair value hierarchy are defined as follows:  Level 1 – Quoted prices in active markets for identical assets or liabilities. An active market for the asset or liability is a market in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis.  Level 2 – Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuations in which all significant inputs are observable in the market.  Level 3 – Valuation is modeled using significant inputs that are unobservable in the market. These unobservable inputs reflect the Company's own estimates of assumptions that market participants would use in pricing the asset or liability.  At March 31, 2016 and December 31, 2015, only the Company’s warrants were measured on a recurring basis.  During 2015, the Company recorded non-recurring fair value adjustments to reduce the cost basis of certain impaired notes. During the first quarter of 2016, additional non-recurring adjustments were recorded to further writedown the fair values of these notes.  The Company’s valuation policy is determined by members of the Asset Management, Credit and Accounting departments. Whenever possible, the policy is to obtain quoted market prices in active markets to estimate fair values for recognition and disclosure purposes. Where quoted market prices in active markets are not available, fair values are estimated using discounted cash flow analyses, broker quotes and third party appraisals of collateral and/or other valuation techniques. These techniques are significantly affected by certain of the Company’s assumptions, including discount rates and estimates of future cash flows. Potential taxes and other transaction costs are not considered in estimating fair values. As the Company is responsible for determining fair value, an analysis is performed on prices obtained from third parties. Such analysis is performed by asset management and credit department personnel who are familiar with the Company’s investments in notes receivable and equity securities of venture companies. The analysis may include a periodic review of price fluctuations and validation of numbers obtained from a specific third party by reference to multiple representative sources.  The measurement methodology is as follows :  Warrants (recurring)  Warrants owned by the Company are not registered for public sale, but are considered derivatives and are carried on the balance sheet at an estimated fair value at the end of the period. The valuation of the warrants was determined using a Black-Scholes formulation of value based upon the volatility of respective similar publicly traded companies, a risk free interest rate for the term(s) of the warrant exercise(s), and the respective exercise prices and number of warrants.  As of March 31, 2016 and December 31, 2015, the calculated fair value of the Fund’s warrant portfolio totaled $736 thousand and $ 722 thousand , respectively. Such valuation is classified within Level 3 of the valuation hierarchy.  The following reconciles the beginning and ending balances of the Company’s Level 3 recurring assets (in thousands):    Level 3 Assets  Balance at December 31, 2015 $ 722  Unrealized gain on warrants, net recorded during the period 14  Balance at March 31, 2016 $ 736  Impaired notes receivable (non-recurring)  The fair value of the Company’s notes receivable, when impairment adjustments are required, is estimated using either third party appraisals or estimations of the value of collateral (for collateral dependent loans) or discounted cash flow analyses (by discounting estimated future cash flows) using the effective interest rate contained in the terms of the original loan.  During 2015, the Company had recorded fair value adjustments totaling $97 thousand relative to three impaired notes, of which $51 thousand were recorded during the first quarter of 2015. The fair value adjustments were non-recurring and were based upon an estimated valuation of underlying collateral. Under the Fair Value Measurements Topic of the FASB Accounting Standards Codification, the fair value of the impaired notes receivable is classified within Level 3 of the valuation hierarchy. The valuation utilizes a market approach technique and uses inputs from third party appraisers that utilize current market transactions as adjusted for certain factors specific to the underlying collateral.  During the first quarter of 2016, additional non-recurring adjustments totaling $9 thousand were recorded to further reduce the cost basis of these notes. The following table presents the fair value measurement of impaired assets measured at fair value on a non-recurring basis and the level within the hierarchy in which the fair value measurements fall at March 31, 2016 and December 31, 2015 (in thousands):    March 31, 2016 Level 1 Estimated Fair Value Level 2 Estimated Fair Value Level 3 Estimated Fair Value  Impaired notes receivable $ 40 $ - $ - $ 40   December 31, 2015 Level 1 Estimated Fair Value Level 2 Estimated Fair Value Level 3 Estimated Fair Value  Impaired notes receivable $ 55 $ - $ - $ 55  The following tables summarize the valuation techniques and significant unobservable inputs used for the Company’s recurring and non-recurring fair value calculation categorized as Level 3 in the fair value hierarchy at March 31, 2016 and December 31, 2015:     March 31, 2016  Valuation Valuation Unobservable Range of  Name Frequency Technique Inputs Input Values  Warrants Recurring Black-Scholes formulation Stock price $0.19 - $25.76  Exercise price $0.19 - $25.76  Time to maturity (in years) 4.74 - 9.83  Risk-free interest rate 1.17% - 1.77%  Annualized volatility 100.00%   Notes Receivable Non-recurring Market Approach Third Party Agents' estimate of the value of collateral $0 - $25,522  Condition of collateral (equipment) Poor to Average   December 31, 2015  Valuation Valuation Unobservable Range of  Name Frequency Technique Inputs Input Values  Warrants Recurring Black-Scholes formulation Stock price $0.19 - $25.76  Exercise price $0.19 - $25.76  Time to maturity (in years) 4.99 - 9.76  Risk-free interest rate 1.76% - 2.26%  Annualized volatility 100.00%   Notes Receivable Non-recurring Market Approach Third Party Agents' estimate of the value of collateral $0 - $25,522  Condition of collateral (equipment) Poor to Average  The following disclosure of the estimated fair value of financial instruments is made in accordance with the guidance provided by the Financial Instruments Topic of the FASB Accounting Standards Codification. Fair value estimates, methods and assumptions, set forth below for the Company’s financial instruments, are made solely to comply with the requirements of the Financial Instruments Topic and should be read in conjunction with the Company’s financial statements and related notes.  The Company has determined the estimated fair value amounts by using market information and valuation methodologies that it considers appropriate and consistent with the fair value accounting guidance. Considerable judgment is required to interpret market data to develop the estimates of fair value. The use of different market assumptions and/or estimation methodologies may have a material effect on the estimated fair value amounts.  Cash and cash equivalents  The recorded amounts of the Company’s cash and cash equivalents approximate fair value because of the liquidity and short-term maturity of these instruments.  Notes receivable  The fair value of the Company’s notes receivable is generally estimated based upon various methodologies deployed by financial and credit management including, but not limited to, credit analysis, third party appraisal and/or discounted cash flow analysis based upon current market valuation techniques and market rates for similar types of lending arrangements, which may consider adjustments for impaired loans as deemed necessary.  Investment in securities  The Company’s investment securities are not registered for public sale and are carried at cost which management believes approximates fair value, as appropriately adjusted for impairment.  The following tables present estimated fair values of the Company’s financial instruments in accordance with the guidance provided by the Financial Instruments Topic of the FASB Accounting Standards Codification at March 31, 2016 and December 31, 2015 (in thousands):     March 31, 2016  Carrying Amount Level 1 Level 2 Level 3 Total  Financial assets:  Cash and cash equivalents $ 3,274 $ 3,274 $ - $ - $ 3,274  Notes receivable, net 4,870 - - 4,867 4,867  Investment in securities 591 - - 591 591  Warrants 736 - - 736 736   December 31, 2015  Carrying Amount Level 1 Level 2 Level 3 Total  Financial assets:  Cash and cash equivalents $ 3,018 $ 3,018 $ - $ - $ 3,018  Notes receivable, net 5,722 - - 5,699 5,699  Investment in securities 433 - - 433 433  Warrants 722 - - 722 722                                                       

Summary of Significant Accoun16

Summary of Significant Accounting Policies (Policy)	3 Months Ended
	Mar. 31, 2016
Summary of Significant Accounting Policies [Abstract]
Basis of Presentation	Basis of presentation:  The accompanying unaudited financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and with the instructions to Form 10-Q as mandated by the Securities and Exchange Commission. The unaudited interim financial statements reflect all adjustments which are, in the opinion of the Managing Member, necessary for a fair statement of financial position and results of operations for the interim periods presented. All such adjustments are of a normal recurring nature. Operating results for the three months ended March 31, 2016 are not necessarily indicative of the results to be expected for the full year.  Certain prior period amounts may have been reclassified to conform to the current period presentation. These reclassifications had no significant effect on the reported financial position or results of operations.  Footnote and tabular amounts are presented in thousands, except as to Units and per Unit data.  In preparing the accompanying financial statements, the Company has reviewed, as determined necessary by the Managing Member, events that have occurred after March 31, 2016 , up until the issuance of the financial statements. No events were noted which would require additional disclosure in the footnotes to the financial statements.
Use of Estimates	Use of e stimates:  The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from the estimates. Such estimates primarily relate to the determination of credit losses on notes receivable and the fair valuation of equity securities and warrants.
Segment Reporting	Segment reporting:  The Company is organized into one operating segment for the purpose of making operating decisions or assessing performance. Accordingly, the Company operates in one reportable operating segment in the United States.  The primary geographic region in which the Company seeks financing opportunities is North America. Currently, 100 % of the Company’s operating revenues are from customers domiciled in North America.
Investment in Securities	Investment in securities:  From time to time, the Company may purchase securities of its borrowers or receive warrants and rights to purchase securities in connection with its lending arrangements.  Purchased securities  Purchased securities (primarily preferred stocks) are generally not registered for public sale and are carried at cost. Such securities are adjusted to fair value if the fair value is less than the carrying value and such impairment is deemed by the Managing Member to be other than temporary. Factors considered by the Managing Member in determining fair value include , but are not limited to, available financial information, the issuer’s ability to meet its current obligations and indications of the issuer’s subsequent ability to raise capital. As of March 31, 2016 and December 31, 2015 , investments in equity securities totaled $591 thousand and $433 thousand, respectively . There were no sales or dispositions of securities during the three months ended March 31, 2016 and 2015.  Warrants  Warrants owned by the Company are not registered for public sale, but are considered derivatives and are reflected at an estimated fair value on the balance sheet as determined by the Managing Member. At March 31, 2016 and December 31, 2015, the Managing Member estimated the fair value of warrants to be $736 thousand and $722 thousand , respectively. During the three months ended March 31, 2016, t he Company recorded unrealized gains of $14 thousand on fair valuation of its warrants. There were no unrealized gains or losses recorded during the prior year period. There were no exercises of warrants, net or otherwise, during the three months ended March 31, 2016 and 2015. See Note 9 for further discussion.
Per Unit Data	Per Unit data:  The Company issues only one class of Units, none of which are considered dilutive. Net income (loss) per Unit is based upon the weighted average number of Other Members Units outstanding during the period .
Recent Accounting Pronouncements	Recent accounting pronouncements:  In January 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update 2016-01, Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities (“ASU 2016-01”). The new standard provides guidance related to accounting for equity investments and financial liabilities under the fair value option, and the presentation and disclosure requirements for financial instruments. In addition, FASB clarified guidance related to the valuation allowance assessment when recognizing deferred tax assets resulting from unrealized losses on available-for-sale debt securities. ASU 2016-01 is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Management is currently evaluating the standard and its operational and related disclosure requirements.  In August 2014, the FASB issued Accounting Standards Update 2014-15, Presentation of Financial Statements — Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (“ASU-2014-15”). The new standard provides guidance relative to management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern and to provide related footnote disclosures. The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2016. Early adoption is permitted. Management does not expect the adoption of ASU 2014-15 to have a material impact on the Company’s financial statements or related disclosures.  In May 2014, the FASB issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”), which amends the existing accounting standards for revenue recognition. ASU 2014-09 is based on principles that govern the recognition of revenue at an amount an entity expects to be entitled when products are transferred to customers. On July 9, 2015, the FASB approved the deferral of the effective date of ASU 2014-09 by one year and in August 2015, issued Revenue from Contracts from Customers (Topic 606): Deferral of the Effective Date (“ASU 2015-14”). ASU 2015-14 is effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. Earlier application is permitted only as of annual reporting periods beginning after December 31, 2016, including interim reporting periods within that reporting period. The new revenue standard may be applied retrospectively to each prior period presented or retrospectively with the cumulative effect recognized as of the date of adoption. The Company evaluated the impact of the new standard on its financial statements and has determined that such impact is virtually non-existent as the new revenue guideline does not affect revenues from loans, which comprise the majority of the Company’s revenues.

Notes Receivable, Net (Tables)

Notes Receivable, Net (Tables)	3 Months Ended
	Mar. 31, 2016
Notes Receivable, Net [Abstract]
Minimum Future Payments Receivable	As of March 31, 2016, the minimum future payments receivable are as follows (in thousands):    Nine months ending December 31, 2016 $ 2,905  Year ending December 31, 2017 2,018  2018 828  2019 22  5,773  Less: portion representing unearned interest income, net (797)  Less: allowance for credit losses (106)  Notes receivable, net $ 4,870 

Allowance for Credit Losses (Ta

Allowance for Credit Losses (Tables)	3 Months Ended
	Mar. 31, 2016
Allowance for Credit Losses [Abstract]
Activity in Allowance for Doubtful Accounts	The Company’s allowance for credit losses are as follows (in thousands):    Allowance for Doubtful Accounts - Notes Receivable Valuation Adjustments - Notes Receivable Total Allowance for Credit Losses  Balance December 31, 2014 $ - $ - $ -  Provision for credit losses - 97 97  Balance December 31, 2015 - 97 97  Provision for credit losses - 9 9  Balance March 31, 2016 $ - $ 106 $ 106 
Recorded Investment in Financing Receivables	The Company’s allowance for credit losses and its recorded investment in notes receivable as of March 31, 2016 and December 31, 2015 were as follows (in thousands):   March 31, 2016 Notes Receivable  Allowance for credit losses:  Ending balance $ 106  Ending balance: individually evaluated for impairment $ 106  Ending balance: collectively evaluated for impairment $ -  Ending balance: loans acquired with deteriorated credit quality $ -   Financing receivables:  Ending balance $ 4,976  Ending balance: individually evaluated for impairment $ 4,976  Ending balance: collectively evaluated for impairment $ -  Ending balance: loans acquired with deteriorated credit quality $ -   December 31, 2015 Notes Receivable  Allowance for credit losses:  Ending balance $ 97  Ending balance: individually evaluated for impairment $ 97  Ending balance: collectively evaluated for impairment $ -  Ending balance: loans acquired with deteriorated credit quality $ -   Financing receivables:  Ending balance $ 5,819  Ending balance: individually evaluated for impairment $ 5,819  Ending balance: collectively evaluated for impairment $ -  Ending balance: loans acquired with deteriorated credit quality $ - 
Financing Receivables by Credit Quality Indicator and by Class	At March 31, 2016 and December 31, 2015, the Company’s notes receivables by credit quality indicator and by class of financing receivables are as follows (excludes initial direct costs) (in thousands):    Notes Receivable  March 31, 2016 December 31, 2015  Pass $ 3,925 $ 4,657  Special mention 904 1,011  Substandard 147 151  Doubtful - -  Total $ 4,976 $ 5,819 
Schedule of Impaired Loans	As of March 31, 2016 and December 31, 2015, the Company’s impaired loans were as follows (in thousands):     Impaired Loans  March 31, 2016 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized  With no related allowance recorded  Notes receivable $ - $ - $ - $ - $ -  With an allowance recorded  Notes receivable 147 147 106 147 -  Total $ 147 $ 147 $ 106 $ 147 $ -     Impaired Loans  December 31, 2015 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized  With no related allowance recorded  Notes receivable $ - $ - $ - $ - $ -  With an allowance recorded  Notes receivable 151 152 97 160 -  Total $ 151 $ 152 $ 97 $ 160 $ - 
Net Investment in Financing Receivables by Age	At March 31, 2016 and December 31, 2015, investment in financing receivables is aged as follows (in thousands):     March 31, 2016 31-60 Days Past Due 61-90 Days Past Due Greater Than 90 Days Total Past Due Current Total Financing Receivables Recorded Investment>90 Days and Accruing  Notes receivable $ - $ - $ - $ - $ 4,976 $ 4,976 $ -  Total $ - $ - $ - $ - $ 4,976 $ 4,976 $ -     December 31, 2015 31-60 Days Past Due 61-90 Days Past Due Greater Than 90 Days Total Past Due Current Total Financing Receivables Recorded Investment>90 Days and Accruing  Notes receivable $ - $ - $ - $ - $ 5,819 $ 5,819 $ -  Total $ - $ - $ - $ - $ 5,819 $ 5,819 $ - 

Related Party Transactions (Tab

Related Party Transactions (Tables)	3 Months Ended
	Mar. 31, 2016
Related Party Transactions [Abstract]
Affiliates Earned Commissions and Billed for Reimbursements Pursuant to Operating Agreement	During the three months ended March 31, 2016 and 2015, the Managing Member and/or affiliates earned commissions and fees, and billed for reimbursements of costs and expenses pursuant to the Operating Agreement as follows (in thousands):    Three Months Ended March 31,  2016 2015  Administrative costs reimbursed to Managing Member and/or affiliates $ 56 $ 51  Asset management fees to Managing Member 21 17  Acquisition costs and note origination fees paid to Managing Member 1 96  $ 78 $ 164 

Members' Capital (Tables)

Members' Capital (Tables)	3 Months Ended
	Mar. 31, 2016
Members' Capital [Abstract]
Distributions to Other Members	Distributions to the Other Members for the three months ended March 31, 2016 and 2015 a re as follows (in thousands, except as to Units and per Unit data):    Three Months Ended March 31,  2016 2015  Distributions declared $ 445 $ 445  Weighted average number of Units outstanding 1,618,296 1,618,296  Weighted average distributions per Unit $ 0.27 $ 0.27 

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2016
Fair Value Measurements [Abstract]
Reconciliation of Level 3 Recurring Assets	The following reconciles the beginning and ending balances of the Company’s Level 3 recurring assets (in thousands):    Level 3 Assets  Balance at December 31, 2015 $ 722  Unrealized gain on warrants, net recorded during the period 14  Balance at March 31, 2016 $ 736 
Fair Value Measurement of Assets and Liabilities Measured at Fair Value on Non-Recurring Basis	The following table presents the fair value measurement of impaired assets measured at fair value on a non-recurring basis and the level within the hierarchy in which the fair value measurements fall at March 31, 2016 and December 31, 2015 (in thousands):    March 31, 2016 Level 1 Estimated Fair Value Level 2 Estimated Fair Value Level 3 Estimated Fair Value  Impaired notes receivable $ 40 $ - $ - $ 40   December 31, 2015 Level 1 Estimated Fair Value Level 2 Estimated Fair Value Level 3 Estimated Fair Value  Impaired notes receivable $ 55 $ - $ - $ 55 
Summary of Valuation Techniques and Significant Unobservable Inputs	The following tables summarize the valuation techniques and significant unobservable inputs used for the Company’s recurring and non-recurring fair value calculation categorized as Level 3 in the fair value hierarchy at March 31, 2016 and December 31, 2015:     March 31, 2016  Valuation Valuation Unobservable Range of  Name Frequency Technique Inputs Input Values  Warrants Recurring Black-Scholes formulation Stock price $0.19 - $25.76  Exercise price $0.19 - $25.76  Time to maturity (in years) 4.74 - 9.83  Risk-free interest rate 1.17% - 1.77%  Annualized volatility 100.00%   Notes Receivable Non-recurring Market Approach Third Party Agents' estimate of the value of collateral $0 - $25,522  Condition of collateral (equipment) Poor to Average   December 31, 2015  Valuation Valuation Unobservable Range of  Name Frequency Technique Inputs Input Values  Warrants Recurring Black-Scholes formulation Stock price $0.19 - $25.76  Exercise price $0.19 - $25.76  Time to maturity (in years) 4.99 - 9.76  Risk-free interest rate 1.76% - 2.26%  Annualized volatility 100.00%   Notes Receivable Non-recurring Market Approach Third Party Agents' estimate of the value of collateral $0 - $25,522  Condition of collateral (equipment) Poor to Average 
Estimated Fair Values of Financial Instruments	The following tables present estimated fair values of the Company’s financial instruments in accordance with the guidance provided by the Financial Instruments Topic of the FASB Accounting Standards Codification at March 31, 2016 and December 31, 2015 (in thousands):     March 31, 2016  Carrying Amount Level 1 Level 2 Level 3 Total  Financial assets:  Cash and cash equivalents $ 3,274 $ 3,274 $ - $ - $ 3,274  Notes receivable, net 4,870 - - 4,867 4,867  Investment in securities 591 - - 591 591  Warrants 736 - - 736 736   December 31, 2015  Carrying Amount Level 1 Level 2 Level 3 Total  Financial assets:  Cash and cash equivalents $ 3,018 $ 3,018 $ - $ - $ 3,018  Notes receivable, net 5,722 - - 5,699 5,699  Investment in securities 433 - - 433 433  Warrants 722 - - 722 722 

Organization and Limited Liab22

Organization and Limited Liability Company Matters (Narrative) (Details) - USD ($)	3 Months Ended	40 Months Ended
	Mar. 31, 2016	Mar. 31, 2016	Dec. 31, 2015	Mar. 13, 2013	Nov. 14, 2012	Dec. 31, 2011
Organization and Limited Liability Company Matters [Abstract]
Contributions of capital, initial						$ 500
Sale of Limited Liability Company Units, number of units					7,500,000
Issuance of Limited Liability Company Units, per unit					$ 10
Minimum amount of subscriptions to release proceeds in escrow					$ 1,200,000
Minimum units to release proceeds in escrow					120,000
Minimum gross proceeds required to release Pennsylvania subscriptions				$ 3,750,000
Capital contribution		$ 16,200,000
Units issued	1,618,296	1,618,296	1,618,296
Units outstanding	1,618,296	1,618,296	1,618,296
Reinvestment period	6 years

Summary of Significant Accoun23

Summary of Significant Accounting Policies (Narrative) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)segment	Mar. 31, 2015USD ($)	Dec. 31, 2015USD ($)
Summary Of Significant Accounting Policies [Line Items]
Number of operating segments | segment	1
Number of reportable segments | segment	1
Investments in equity securities	$ 591		$ 433
Sales or dispositions of securities	0	$ 0
Fair value of warrants	736		$ 722
Unrealized gain on fair valuation of warrants	14
Exercise of warrants	$ 0	$ 0
Operating Revenue [Member]
Summary Of Significant Accounting Policies [Line Items]
Percentage of operating revenue from the customers domiciled in North America	100.00%

Notes Receivable, Net (Narrativ

Notes Receivable, Net (Narrative) (Details) - USD ($) $ in Thousands	2 Months Ended	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015	Dec. 31, 2014
Financing Receivable, Recorded Investment, Past Due [Line Items]
Notes receivable fair value adjustments	$ 106	$ 106	$ 51	$ 97
Additional fair value adjustments recorded on notes receivable		9	$ 51	97
Interest not recorded relative to the original terms of the non-accrual notes		$ 16
Notes receivable, composite interest rate		18.00%
Note Receivable One [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Notes receivable, fair value	10	$ 10		14
Notes receivable in non-accrual status principal balance outstanding					$ 40
Note Receivable Two [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Notes receivable, fair value	20	20		26
Notes receivable in non-accrual status principal balance outstanding					79
Note Receivable Three [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Notes receivable, fair value	$ 11	$ 11		$ 15
Notes receivable in non-accrual status principal balance outstanding					$ 53
Note Receivable Four [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Notes receivable, interest rate	14.14%	14.14%
Notes receivable in non-accrual status principal balance outstanding	$ 365	$ 365
Note Receivable Five [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Notes receivable, interest rate	14.14%	14.14%
Notes receivable in non-accrual status principal balance outstanding	$ 250	$ 250
Note Receivable Six [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Notes receivable, interest rate	14.14%	14.14%
Notes receivable in non-accrual status principal balance outstanding	$ 228	$ 228
Notes Receivable [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Additional fair value adjustments recorded on notes receivable		$ 9
Interest not recorded relative to the original terms of the non-accrual notes	$ 20
Minimum [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Terms of the notes receivable		24 months
Notes receivable, interest rate	11.25%	11.25%			11.54%
Notes maturity period		2,016
Maximum [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Terms of the notes receivable		42 months
Notes receivable, interest rate	18.00%	18.00%			11.73%
Notes maturity period		2,019

Notes Receivable, Net (Minimum

Notes Receivable, Net (Minimum Future Payments Receivable) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Notes Receivable, Net [Abstract]
Nine months ending December 31, 2016	$ 2,905
Year ending December 31, 2017	2,018
2,018	828
2,019	22
Notes receivable, gross	5,773
Less: portion representing unearned interest income, net	(797)
Less:allowance for credit losses	(106)	$ (97)
Notes receivable, net	$ 4,870	$ 5,722

Allowance for Credit Losses (Na

Allowance for Credit Losses (Narrative) (Details)	3 Months Ended
	Mar. 31, 2016
Minimum [Member]
Accounts receivable, period for non-accrual status	90 days
Maximum [Member]
Accounts receivable, period for review of impairment	90 days

Allowance for Credit Losses (Ac

Allowance for Credit Losses (Activity in Allowance for Doubtful Accounts) (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning Balance	$ 97
Provision for credit losses	9	$ 51	$ 97
Ending Balance	$ 106		$ 97
Allowance For Doubtful Accounts [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning Balance
Provision for credit losses
Ending Balance
Valuation Adjustments on Financing Receivables [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning Balance	$ 97
Provision for credit losses	9		$ 97
Ending Balance	$ 106		$ 97

Allowance for Credit Losses (Re

Allowance for Credit Losses (Recorded Investment in Financing Receivables) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Allowances for credit losses:
Ending balance: loans acquired with deteriorated credit quality	$ 4,870	$ 5,722
Financing receivables [Abstract]
Ending balance: loans acquired with deteriorated credit quality	4,870	5,722
Notes Receivable [Member]
Allowances for credit losses:
Ending balance	106	97
Ending balance: individually evaluated for impairment	$ 106	$ 97
Ending balance: collectively evaluated for impairment
Ending balance: loans acquired with deteriorated credit quality
Financing receivables [Abstract]
Ending balance	$ 4,976	$ 5,819
Ending balance: individually evaluated for impairment	$ 4,976	$ 5,819
Ending balance: collectively evaluated for impairment
Ending balance: loans acquired with deteriorated credit quality

Allowance for Credit Losses (Fi

Allowance for Credit Losses (Financing Receivables by Credit Quality Indicator and by Class) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Financing Receivable, Recorded Investment [Line Items]
Notes receivable	$ 4,976	$ 5,819
Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Notes receivable	3,925	4,657
Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Notes receivable	904	1,011
Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Notes receivable	$ 147	$ 151

Allowance for Credit Losses (Sc

Allowance for Credit Losses (Schedule of Impaired Loans) (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015
Allowance for Credit Losses [Abstract]
Notes receivable, With no allowance recorded, Recorded investment
Notes receivable, With no allowance recorded, Unpaid principal balance
Notes receivable, With no allowance recorded, Average recorded investment
Notes receivable, With no allowance recorded, Interest income recognized
Notes receivable, With an allowance recorded, Recorded investment	$ 147	$ 151
Notes receivable, With an allowance recorded, Unpaid principal balance	147	152
Notes receivable, With an allowance recorded, Related allowance	106	97	$ 51
Notes receivable, With an allowance recorded, Average recorded investment	$ 147	$ 160
Notes receivable, With an allowance recorded, Interest income recognized
Recorded investment, Total	$ 147	$ 151
Unpaid principal balance, Total	147	152
Average recorded investment, Total	$ 147	$ 160
Interest income recognized, Total

Allowance for Credit Losses (Ne

Allowance for Credit Losses (Net Investment in Financing Receivables by Age) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due
Current	$ 4,976	$ 5,819
Total financing receivables	$ 4,976	$ 5,819
Recorded Investment > 90 Days and Accruing
Financing Receivables 31 To 60 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due
Financing Receivables 61 To 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due
Financing Receivables Greater Than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due
Notes Receivable [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due
Current	$ 4,976	$ 5,819
Total financing receivables	$ 4,976	$ 5,819
Recorded Investment > 90 Days and Accruing
Notes Receivable [Member] | Financing Receivables 31 To 60 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due
Notes Receivable [Member] | Financing Receivables 61 To 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due
Notes Receivable [Member] | Financing Receivables Greater Than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due

Related Party Transactions (Aff

Related Party Transactions (Affiliates Earned Commissions and Billed for Reimbursements Pursuant to Operating Agreement (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Related Party Transactions [Abstract]
Administrative costs reimbursed to Managing Member and/or affiliates	$ 56	$ 51
Asset management fees to Managing Member	21	17
Acquisition costs and note origination fees paid to Managing Member	1	96
Related party transaction, total	$ 78	$ 164

Commitments (Narrative) (Detail

Commitments (Narrative) (Details) $ in Millions	Mar. 31, 2016USD ($)
Commitments [Abstract]
Commitments to fund investments in notes receivable	$ 2.2

Members' Capital (Narrative) (D

Members' Capital (Narrative) (Details) - shares	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Other Members Capital Account [Line Items]
Other Members capital account, Units issued	1,618,296	1,618,296
Other Members capital account, Units outstanding	1,618,296	1,618,296
Other Members capital account, Units authorized	7,500,000	7,500,000
Other Members [Member]
Other Members Capital Account [Line Items]
Other Members capital account, Units issued	1,618,296
Other Members capital account, Units outstanding	1,618,296	1,618,296	1,618,296
Allocation of net income or net losses commencing with initial closing date	100.00%
Managing Member [Member]
Other Members Capital Account [Line Items]
Other Members capital account, Units issued	50	50
Allocation of net income or net losses from commencement until initial closing date	100.00%
Allocation of all distributions of cash available for distribution and net disposition proceeds	5.00%
Allocation percentage, distributions of cash available for distribution	5.00%
Allocation percentage, distributions of net disposition proceeds	1.00%
Total distribution, priority return	8.00%
Allocation of subsequent distributions	15.00%

Members' Capital (Distributions

Members' Capital (Distributions to Other Members) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Members' Capital [Abstract]
Distributions declared	$ 445	$ 445	$ 1,779
Weighted average number of Units outstanding	1,618,296	1,618,296
Weighted average distributions per Unit	$ 0.27	$ 0.27	$ 1.10

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015
Fair Value Measurements [Abstract]
Fair value of warrants	$ 736	$ 722
Notes receivable fair value adjustments	106	$ 97	$ 51
Notes receivable, additional fair value adjustments	$ 9

Fair Value Measurements (Reconc

Fair Value Measurements (Reconciliation of Level 3 Recurring Assets) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Balance at December 31, 2015	$ 722
Unrealized gain on warrants, net recorded during the period	14
Balance at March 31, 2016	736
Level 3 Estimated Fair Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Balance at December 31, 2015	722
Unrealized gain on warrants, net recorded during the period	14
Balance at March 31, 2016	$ 736

Fair Value Measurements (Fair V

Fair Value Measurements (Fair Value Measurement of Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired notes receivable, net	$ 40	$ 55
Level 1 Estimated Fair Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired notes receivable, net
Level 2 Estimated Fair Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired notes receivable, net
Level 3 Estimated Fair Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired notes receivable, net	$ 40	$ 55

Fair Value Measurements (Summar

Fair Value Measurements (Summary of Valuation Techniques and Significant Unobservable Inputs) (Details) - Level 3 Estimated Fair Value [Member] - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Recurring [Member] | Black-Scholes Formulation [Member] | Warrant [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Annualized volatility	100.00%	100.00%
Recurring [Member] | Black-Scholes Formulation [Member] | Minimum [Member] | Warrant [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Stock price	$ 0.19	$ 0.19
Exercise price	$ 0.19	$ 0.19
Time to maturity (in years)	4 years 8 months 27 days	4 years 11 months 27 days
Risk-free interest rate	1.17%	1.76%
Recurring [Member] | Black-Scholes Formulation [Member] | Maximum [Member] | Warrant [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Stock price	$ 25.76	$ 25.76
Exercise price	$ 25.76	$ 25.76
Time to maturity (in years)	9 years 9 months 29 days	9 years 9 months 4 days
Risk-free interest rate	1.77%	2.26%
Non-recurring [Member] | Market Approach [Member] | Minimum [Member] | Notes Receivable [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair value inputs, third party agents' pricing quotes per equipment.	$ 0
Non-recurring [Member] | Market Approach [Member] | Maximum [Member] | Warrant [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair value inputs, third party agents' pricing quotes per equipment.	$ 25,522

Fair Value Measurements (Estima

Fair Value Measurements (Estimated Fair Values of Financial Instruments) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Financial assets:
Investment in securities	$ 591	$ 433
Warrants	736	722
Level 3 Estimated Fair Value [Member]
Financial assets:
Warrants	736	722
Carrying Amount [Member]
Financial assets:
Cash and cash equivalents	3,274	3,018
Notes receivable, net	4,870	5,722
Investment in securities	591	433
Warrants	736	722
Estimated Fair Value [Member]
Financial assets:
Cash and cash equivalents	3,274	3,018
Notes receivable, net	4,867	5,699
Investment in securities	591	433
Warrants	736	722
Estimated Fair Value [Member] | Level 1 Estimated Fair Value [Member]
Financial assets:
Cash and cash equivalents	$ 3,274	$ 3,018
Estimated Fair Value [Member] | Level 2 Estimated Fair Value [Member]
Financial assets:
Cash and cash equivalents
Notes receivable, net
Investment in securities
Warrants
Estimated Fair Value [Member] | Level 3 Estimated Fair Value [Member]
Financial assets:
Notes receivable, net	$ 4,867	$ 5,699
Investment in securities	591	433
Warrants	$ 736	$ 722