Atel 17 10-K 18 Mar 19 2018 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2018	Feb. 28, 2019	Jun. 30, 2018
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2018
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	FY
Entity Registrant Name	ATEL 17, LLC
Entity Central Index Key	0001640982
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Smaller Reporting Company	true
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Well-known Seasoned Issuer	No
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Public Float			$ 0
Entity Units Outstanding		2,565,749

Balance Sheets

Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
ASSETS
Cash and cash equivalents	$ 6,484	$ 7,092
Due from affiliates	44
Accounts receivable, net of allowance for doubtful accounts of $0 at December 31, 2018 and $18 at December 31, 2017	60	66
Notes receivable, net of unearned interest income of $496 at December 31, 2018 and $359 at December 31, 2017	3,455	1,794
Warrants, fair value	302	62
Investments in equipment and leases, net of accumulated depreciation of $2,463 at December 31, 2018 and $1,242 at December 31, 2017	10,186	10,200
Prepaid expenses and other assets	13	12
Total assets	20,544	19,226
Accounts payable and accrued liabilities:
Managing Member		34
Affiliates		74
Accrued distributions to Other Members	228	217
Other	51	30
Non-recourse debt	3,531
Unearned operating lease income	113	164
Total liabilities	3,923	519
Commitments and contingencies
Members' capital:
Managing Member	1	1
Other Members	16,620	18,706
Total Members' capital	16,621	18,707
Total liabilities and Members' capital	$ 20,544	$ 19,226

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Balance Sheets [Abstract]
Accounts receivable, allowance for doubtful accounts	$ 0	$ 18
Notes receivable, unearned interest income	496	359
Investment in operating leases, accumulated depreciation	$ 2,463	$ 1,242

Statements of Operations

Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Leasing and lending activities:
Operating leases	$ 1,683	$ 1,340
Notes receivable interest income	621	159
Gain on sales of lease assets and early termination of notes receivable		18
Unrealized gain on fair value adjustment for warrants	16	11
Other	12	8
Total revenues	2,332	1,536
Expenses:
Depreciation of operating lease assets	1,221	931
Asset management fees to managing Member	268	167
Acquisition expense	108	236
Cost reimbursements to Managing Member and/or affiliates	421	280
(Reversal of) provision for credit losses	(18)	18
Amortization of initial direct costs	77	58
Interest expense	24
Professional fees	98	122
Outside services	99	83
Taxes on income and franchise fees	(5)	7
Bank charges	120	47
Other	89	68
Total expenses	2,502	2,017
Net loss	(170)	(481)
Net loss:
Managing Member
Other Members	(170)	(481)
Net loss	$ (170)	$ (481)
Net loss per Limited Liability Company Unit (Other Members)	$ 0.07	$ (0.23)
Weighted average number of Units outstanding	2,567,041	2,058,512

Statements of Changes in Member

Statements of Changes in Members' Capital - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Beginning Balance	$ 18,707	$ 11,696
Capital contributions	340	10,740
Repurchase of Units	(151)
Syndication costs	(51)	(1,608)
Distributions to Other Members	(2,054)	(1,640)
Net loss	(170)	(481)
Ending Balance	$ 16,621	$ 18,707
Other Members [Member]
Beginning Balance (in units)	2,551,749	1,475,864
Beginning Balance	$ 18,706	$ 11,695
Capital contributions	$ 340	$ 10,740
Capital contributions (in Units)	34,000	1,075,885
Repurchase of Units	$ (151)
Repurchase of Units (in Units)	(20,000)
Syndication costs	$ (51)	$ (1,608)
Distributions to Other Members	(2,054)	(1,640)
Net loss	$ (170)	$ (481)
Ending Balance (in units)	2,565,749	2,551,749
Ending Balance	$ 16,620	$ 18,706
Managing Member [Member]
Beginning Balance	1	1
Ending Balance	$ 1	$ 1

Statements of Changes in Memb_2

Statements of Changes in Members' Capital (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Statements of Changes in Members' Capital [Abstract]
Distribution Made To Member Or Limited Partner Distributions Paid Per Unit	$ 0.80	$ 0.80

Statements of Cash Flows

Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Operating activities:
Net loss	$ (170)	$ (481)
Adjustment to reconcile net loss to net cash provided by operating activities:
Accretion of note discount - warrants	(71)	(18)
Gain on sales of assets and early termination of notes		(18)
Depreciation of operating lease assets	1,221	931
Amortization of initial direct costs	77	58
(Reversal of) provision for credit losses	(18)	18
Unrealized gain on fair value adjustment for warrants	(16)	(11)
Changes in operating assets and liabilities:
Accounts receivable	24	25
Due from Managing Member and affiliates	(44)
Prepaid expenses and other assets	(1)	4
Accounts payable, Managing Member	(108)	49
Accounts payable, other	21	15
Unearned operating lease income	(51)	61
Net cash provided by operating activities	864	633
Investing activities:
Proceeds from early termination of notes receivable		359
Purchases of equipment on operating leases	(1,252)	(4,135)
Payments of initial direct costs	(38)	(120)
Note receivable advances	(3,551)	(1,125)
Principal payments received on notes receivable	1,743	458
Net cash used in investing activities	(3,098)	(4,563)
Financing activities:
Borrowings under non-recourse debt	3,685
Repayments under non-recourse debt	(154)
Syndication costs paid to Managing Member and affiliates	(51)	(1,608)
Distributions to Other Members	(2,043)	(1,540)
Capital contributions	340	10,740
Repurchase/Rescissions of Units	(151)
Net cash provided by financing activities	1,626	7,592
Net (decrease) increase in cash and cash equivalents	(608)	3,662
Cash at beginning of year	7,092	3,430
Cash at end of year	6,484	7,092
Supplemental disclosures of cash flow information:
Cash paid during the year for interest	19
Cash paid during the year for taxes	1	1
Other Members [Member]
Operating activities:
Net loss	(170)	(481)
Schedule of non-cash investing and financing transactions:
Distributions payable to Members at year-end	228	217
Managing Member [Member]
Schedule of non-cash investing and financing transactions:
Distributions payable to Members at year-end

Organization and Limited Liabil

Organization and Limited Liability Company Matters	12 Months Ended
	Dec. 31, 2018
Organization and Limited Liability Company Matters [Abstract]
Organization and Limited Liability Company Matters	1. Organization and Limited Liability Company matters: ATEL 17, LLC (the “Company” or the “Fund”) was formed under the laws of the state of California on April 16, 2015 (“Date of Inception”) for the purpose of equipment financing and acquiring equipment to engage in equipment leasing and sales activities. The Managing Member of the Company is ATEL Managing Member, LLC (the “Managing Member” or “Manager”), a Nevada limited liability company. The Managing Member is controlled by ATEL Financial Services, LLC (“AFS”), a wholly-owned subsidiary of ATEL Capital Group. The Fund may continue as provided in the ATEL 17, LLC limited liability operating agreement dated April 24, 2015 (the “Operating Agreement”). Contributions in the amount of $500 were received as of April 28, 2015, 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 offering of the Company was granted effectiveness by the Securities and Exchange Commission as of January 5, 2016. The offering will continue until the earlier of a period of two years from that date or until sales of the limited liability company units (Units) to the public reach $150 million. As of February 2, 2016, 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 and continued in its development stage activities until transitioning to an operating enterprise during the first quarter of 2016. Pennsylvania subscriptions are subject to a separate escrow and are released to the Fund only when aggregate subscriptions for all investors equal to at least $7.5 million. Total contributions to the Fund exceeded $7.5 million on July 6, 2016, at which time a request was processed to release the Pennsylvania escrowed amounts. The offering terminated on January 5, 2018. As of December 31, 2018, cumulative gross contributions, less rescissions and repurchases (net of distributions paid and allocated syndication costs, as applicable), totaling $25.7 million (inclusive of the $500 initial Member’s capital investment) have been received. As of the same date, 2,565,749 Units were issued and outstanding. 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 members, 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) and (iii) provide additional cash distributions following the Reinvestment Period and until all investment portfolio assets have been sold or otherwise disposed. Pursuant to the terms of the Operating Agreement, the Managing Member and/or its affiliates receives compensation for services rendered and reimbursements for costs incurred on behalf of the Company. (See Note 7, Related party transactions.) The Company is required to maintain reasonable cash reserves for working capital, for the repurchase of Units and for contingencies. The repurchase of Units is solely at the discretion of the Managing Member.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2018
Summary of Significant Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of significant accounting policies: Basis of presentation: The accompanying balance sheets as of December 31, 2018 and 2017, and the related statements of operations, changes in members’ capital, and cash flows for the years then ended, have been prepared in accordance with accounting principles generally accepted in the United States of America (‘GAAP’) and the rules and regulations of the Securities and Exchange Commission. Certain prior year amounts have been reclassified to conform to the current year presentation. These reclassifications had no significant effect on the reported financial position or results from operations. Footnote and tabular amounts are presented in thousands, except as to Units and per data. In preparing the accompanying financial statements, the Company has reviewed, as determined necessary by the Managing Member, events that have occurred after December 31, 2018, up until the issuance of the financial statements. No events were noted which would require additional disclosure in the footnotes to the financial statements, and adjustments thereto. Cash and cash equivalents: Cash and cash equivalents include cash in banks and cash equivalent investments such as U.S. Treasury instruments with original and/or purchased maturities of ninety days or less. Use of Estimates: 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 residual values at the end of the lease term and expected future cash flows used for impairment analysis purposes and for determination of the allowance for doubtful accounts and reserve for credit losses on notes receivable. Accounts receivable: Accounts receivable represent the amounts billed under operating lease contracts, and notes receivable which are currently due to the Company. Allowances for doubtful accounts are typically established based on historical charge off and collection experience and the collectability of specifically identified lessees and 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 . Credit risk: Financial instruments that potentially subject the Company to concentrations of credit risk include cash and cash equivalents, operating lease receivable, notes receivable and accounts receivable. The Company places the majority of its cash deposits in noninterest-bearing accounts with financial institutions that have no less than $10 billion in assets. Such deposits are insured up to $250 thousand. The remainder of the Funds’ cash is temporarily invested in U.S. Treasury denominated instruments. The concentration of such deposits and temporary cash investments is not deemed to create a significant risk to the Company. Accounts and notes receivable represent amounts due from lessees or borrowers in various industries, related to equipment on operating leases or notes receivable. Equipment on operating leases and related revenue recognition: Equipment subject to operating leases is stated at cost. Depreciation is recognized on a straight-line method over the terms of the related leases to the equipment’s estimated residual values. Off-lease equipment is generally not subject to depreciation. The Company depreciates all lease assets, in accordance with guidelines consistent with the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 840‑20‑35‑3, over the periods of the lease terms contained in each asset’s respective lease contract to the estimated residual value at the end of the lease contract. All lease assets are purchased only concurrent with the execution of a lease commitment by the lessee. Thus, the original depreciation period corresponds with the term of the original lease. Once the term of an original lease contract is completed, the subject property is typically sold to the existing user, re-leased to the existing user, or, when off-lease, is held for sale. Assets which are re-leased continue to be depreciated using the terms of the new lease agreements and the estimated residual values at the end of the new lease terms, adjusted downward as necessary. Assets classified as held-for-sale are carried at the lower of carrying amount, or the fair value less cost to sell. The Company does not use the equipment held in its portfolio, but holds it solely for lease and ultimate sale. In the course of marketing equipment that has come off-lease, management may determine at some point that re-leasing the assets may provide a superior return for investors and would then execute another lease. Upon entering into a new lease contract, management will estimate the residual value once again and resume depreciation. If and when the Company, at any time, determines that depreciation in value may have occurred with respect to an asset held-for-sale, the Company would review the value to determine whether a material reduction in value had occurred and recognize any appropriate impairment. All lease assets, including off-lease assets, are subject to the Company’s quarterly impairment analysis, as described below. Maintenance costs associated with the Fund’s portfolio of leased assets are expensed as incurred. Major additions and betterments are capitalized. Operating lease revenue is recognized on a straight-line basis over the term of the underlying leases. The initial lease terms will vary as to the type of equipment subject to the leases, the needs of the lessees and the terms to be negotiated, but initial leases are generally on terms from 36 to 120 months. The difference between rent received and rental revenue recognized is recorded as unearned operating lease income on the balance sheet. Operating leases 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 considers the equipment underlying the lease contracts for impairment and periodically reviews the credit worthiness of all operating lessees with payments outstanding less than 90 days. Based upon management’s judgment, the related operating leases may be placed on non-accrual status. Leases 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 lease payments is probable. Until such time, revenues are recognized on a cash basis. Notes receivable, unearned interest income and related revenue recognition: The Company records all future payments of principal and interest on notes as notes receivable, which are then offset by the amount of any related unearned interest income. For financial statement purposes, the Company reports only the net amount of principal due on the balance sheet. The unearned interest is recognized over the term of the note and the income portion of each note payment is calculated so as to generate a constant rate of return on the net balance outstanding. Any fees or costs related to notes receivable are recorded as part of the net investment in notes receivable and amortized over the term of the loan. Allowances for losses on notes receivable are typically established based on historical charge off and collection experience and the collectability of specifically identified borrowers and billed and unbilled receivables. 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 payments 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. Notes 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, the related notes may be placed on 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. Until such time, all payments received are applied only against outstanding principal balances. Initial direct costs: The Company capitalizes initial direct costs (“IDC”) associated with the origination and funding of lease assets and investments in notes receivable. IDC includes both internal costs (e.g., the costs of employees’ activities in connection with successful lease and loan originations) and external broker fees incurred with such originations. The costs are amortized on a lease by lease (or note by note) basis based on actual lease term using a straight-line method for operating leases and the effective interest rate method for notes receivable. Upon disposal of the underlying lease assets and notes receivable, both the initial direct costs and the associated accumulated amortization are relieved. Costs related to leases or notes receivable that are not consummated are not eligible for capitalization as initial direct costs and are expensed as acquisition expense . Acquisition expense: Acquisition expense represents costs which include, but are not limited to, legal fees and expenses, travel and communication expenses, cost of appraisals, accounting fees and expenses and miscellaneous expenses related to the selection and acquisition of equipment which are reimbursable to the Managing Member under the terms of the Operating Agreement. As the costs are not eligible for capitalization as initial direct costs, such amounts are expensed as incurred. Asset valuation: Recorded values of the Company’s leased asset portfolio are reviewed each quarter to confirm the reasonableness of established residual values and to determine whether there is indication that an asset impairment might have taken place. The Company uses a variety of sources and considers many factors in evaluating whether the respective book values of its assets are appropriate. In addition, the Company may direct a residual value review at any time if it becomes aware of issues regarding the ability of a lessee to continue to make payments on its lease contract. An impairment loss is measured and recognized only if the estimated undiscounted future cash flows of the asset are less than the net book value. The estimated undiscounted future cash flows are the sum of the residual value of the asset at the end of the asset’s lease contract and undiscounted future rents from the existing lease contract. The residual value assumes, among other things, that the asset is utilized normally in an open, unrestricted and stable market. Short-term fluctuations in the marketplace are disregarded and it is assumed that there is no necessity either to dispose of a significant number of the assets, if held in quantity, simultaneously or to dispose of the asset quickly. Impairment is measured as the difference between the fair value (as determined by a valuation method using discounted estimated future cash flows, third party appraisals or comparable sales of similar assets as applicable based on asset type) of the asset and its carrying value on the measurement date. Upward adjustments for impairments recognized in prior periods are not made in any circumstances. 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 Company’s principal decision makers are the Managing Member’s Chief Executive Officer and its Chief Financial Officer and Chief Operating Officer. The Company believes that its equipment leasing business operates as one reportable segment because: a) the Company measures profit and loss at the equipment portfolio level as a whole; b) the principal decision makers do not review information based on any operating segment other than the equipment leasing transaction portfolio; c) the Company does not maintain discrete financial information on any specific segment other than its equipment financing operations; d) the Company has not chosen to organize its business around different products and services other than equipment lease financing; and e) the Company has not chosen to organize its business around geographic areas. The primary geographic region in which the Company seeks leasing opportunities is North America. For the year ended December 31, 2018, all of the Company’s current operating revenues and long-lived assets relate to customers domiciled in the United States. Investment in securities: 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. The Company recorded unrealized gains of $16 thousand and $11 thousand on fair valuation of its warrants during 2018 and 2017, respectively. The estimated fair value of the Company’s portfolio of warrants was $302 thousand and $62 thousand for the years ended December 31, 2018 and 2017, respectively. Unearned operating lease income: The Company records prepayments on operating leases as a liability under the caption of unearned operating lease income. The liability is recorded when prepayments are received and recognized as operating lease revenue over the period to which the prepayments relate using a straight-line method. Income Taxes: The Company is treated as a partnership for federal income tax purposes. Pursuant to the provisions of Section 701 of the Internal Revenue Code, a partnership is not subject to federal income taxes. Accordingly, the Company has provided current franchise income taxes for only those states which levy income taxes on partnerships. For the year ended December 31, 2017, the related provision for state income taxes was approximately $7 thousand and for the year ended December 31, 2018, the Company received $5 thousand income tax credit adjustments. The Company does not have any entity level uncertain tax positions. The Company files income tax returns in the U.S. federal jurisdiction and various state jurisdictions and is generally subject to examination by U.S. federal (or state and local) income tax authorities for three years from the filing of a tax return. The tax bases of the Company’s net assets and liabilities vary from the amounts presented in these financial statements at December 31, 2018 and 2017 as follows (in thousands): 2018 2017 Financial statement basis of net assets $ 16,621 $ 18,707 Tax basis of net assets (unaudited) 16,525 20,689 Difference $ 96 $ (1,982) The primary differences between the tax bases of net assets and the amounts recorded in the financial statements are the result of differences in accounting for syndication costs and differences between the depreciation methods used in the financial statements and the Company’s tax returns. The following reconciles the net loss reported in these financial statements to the loss reported on the Company’s federal tax return (unaudited) for the years ended December 31, 2018 and 2017 (in thousands): 2018 2017 Net loss per financial statements $ (170) $ (481) Tax adjustments (unaudited): Adjustment to depreciation expense (2,049) (1,550) Provision for losses and doubtful accounts (18) 18 Adjustments to revenues (68) 50 Other (5) 7 Loss per federal tax return (unaudited) $ (2,310) $ (1,956) Emerging growth company: Section 107 of the Jumpstart Our Business Startups Act (the “JOBS Act”) provides that an emerging growth company can take advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act for complying with new or revised accounting standards. In other words, an emerging growth company can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. However, we have chosen to “opt out” of such extended transition period and, as a result, we will comply with new or revised accounting standards on the relevant dates on which adoption of such standards is required for non-emerging growth companies. Section 107 of the JOBS Act provides that our decision to opt out of the extended transition period for complying with new or revised accounting standards is irrevocable. Per Unit data: Net loss and distributions per Unit are based upon the weighted average number of members Units outstanding during the year. Recent accounting pronouncements: In November 2018, the FASB issued Accounting Standards Update 2018-19, Codification Improvements to Topic 326, Financial Instruments — Credit Losses (“ASU 2018-19”). The new standard clarifies certain aspects of the new current expected credit losses (CECL) impairment model in ASU 2016-13. The amendment clarifies that receivables arising from operating leases are within the scope of ASC 842, rather than ASC 326. The effective date and transition requirements in this Update are the same as the effective dates and transition requirements in Update 2016-13, as amended by this Update, which is for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Management is currently evaluating the impact of the standard on the financial statements and related disclosure requirements. In August 2018, the FASB issued Accounting Standards Update 2018-13, Fair Value Measurement (“ASU 2018-13”), which amends the disclosure requirements on fair value measurements in Topic 820, Fair Value Measurement. This ASU modifies disclosure requirements for fair value measurements by removing, modifying or adding certain disclosures. The amendments in this Update are effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. The amendments on changes in unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement uncertainty should be applied prospectively for only the most recent interim or annual period presented in the initial fiscal year of adoption. All other amendments should be applied retrospectively to all periods presented upon their effective date. Early adoption is permitted upon issuance of this Update. An entity is permitted to early adopt any removed or modified disclosures upon issuance of this Update and delay adoption of the additional disclosures until their effective date. Management is currently evaluating the impact of this standard on the financial statements and related disclosure requirements. In August 2016, the FASB issued Accounting Standards Update 2016-15 — Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (“ASU 2016‑15”). ASU 2016‑15 addresses specific cash flow issues with the objective of reducing the existing diversity in practice. The amendments in this Update are effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. This guidance is effective for the Company beginning on January 1, 2018. The adoption of ASU 2016‑15 did not have a material impact on its financial statements and disclosures. In June 2016, the FASB issued Accounting Standards Update 2016‑13, Financial Instruments — Credit Losses (Topic 326) (“ASU 2016‑13”). The main objective of this Update is to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date. To achieve this objective, the amendments in this Update replace the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The amendments affect entities holding financial assets and net investment in leases that are not accounted for at fair value through net income. The amendments affect loans, debt securities, trade receivables, net investments in leases, off-balance-sheet credit exposures, reinsurance receivables, and any other financial assets not excluded from the scope that have the contractual right to receive cash. ASU 2016‑13 is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is permitted for fiscal years beginning after December 15, 2018. Management is currently evaluating the standard and expects the Update may potentially result in an increase in the allowance for credit losses given the change to estimated losses over the contractual life adjusted for expected prepayments. In February 2016, the FASB issued Accounting Standards Update 2016‑02, Leases (Topic 842) (“ASU 2016‑02”). The new standard will require lessees to recognize lease assets and lease liabilities arising from operating leases with lease terms greater than 12 months in the statement of financial position. Lessor accounting per ASU 2016‑02 is mostly unchanged from the previous lease accounting under GAAP. Certain changes were made to the lessor accounting guidance in order to align the lessor accounting with the lessee accounting model and Topic 606, Revenue from Contracts with Customers. Similar to the previous guidance, lessors will classify leases as operating, direct financing, or sales-type. Lessors in operating leases will continue to recognize the underlying asset and recognize income on a straight-line basis. Lessors determine whether a lease is a sale of the underlying asset based on whether the lessee effectively obtains control of the underlying assets. ASU 2016‑02 is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. While early adoption is permitted, the Company does not expect to elect that option. The Company expects to adopt the guidance in the first quarter 2019 using the modified retrospective method. Management is currently evaluating the impact of this standard on the financial statements and its operational and related disclosure requirements, including the impact on the Company’s current lease portfolio from a lessor perspective. As part of the adoption of the standard, the Company has selected and is in the process of implementing new lease accounting software. The Company is in the process of identifying and designing appropriate changes to its business processes, systems and controls to support the new standard. Given the limited changes to lessor accounting, Management does not expect material changes to recognition or measurement. In July 2018, the FASB issued Accounting Standards Update 2018-11, Leases (Topic 842) Targeted Improvements (“ASU 2018-11”). The new standard provides a new transition method and practical expedient to simplify the application of the new leasing standard. Under the new transition method, comparative periods presented in the financial statements in the period of adoption will not need to be restated. Instead, a Company would initially apply the new lease requirements at the effective date, and recognize a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. The Company would continue to report comparative periods presented in the financial statements in the period of adoption under current GAAP and provide the applicable required disclosures for such periods. The new practical expedient allows lessors to avoid separating lease and associated nonlease components within a contract if certain criteria are met. If elected, lessors will be able to aggregate nonlease components that otherwise would be accounted for under the new revenue standard with the associated lease component if the following conditions are met (1) the timing and pattern of transfer of the nonlease component and the associated lease component are the same and (2) the stand-alone lease component would be classified as an operating lease if accounted for separately. For entities that have not adopted Topic 842 before the issuance of this Update, the effective date and transition requirements for the amendments in this Update related to separating components of a contract are the same as the effective date and transition requirements in Update 2016-02. The practical expedient may be elected either in the first reporting period following the issuance of this Update or at the original effective date of Topic 842 for that entity. The practical expedient may be applied either retrospectively or prospectively. Management is currently evaluating the impact of the standard on the financial statements and related disclosure requirements. The Company plans to adopt this guidance on January 1, 2019 and will prospectively apply the new lease requirements and recognize a cumulative effect adjustment upon adoption. As part of the adoption, the Company has elected to apply the package of transitional practical expedients under which the Company will not reassess prior conclusions about lease identification, lease classification, and initial direct costs of existing leases as of the date of adoption. Under Topic 842, initial direct costs include only those incremental costs of a lease that would not have been incurred if the lease had not been executed. Therefore, only certain costs that the Company capitalized as initial direct costs under ASC Topic 840: Leases may be expensed as incurred under Topic 842. The Company expects an immaterial cumulative effect adjustment upon adoption. The Company plans to elect the lessor practical expedient to combine the lease and non-lease components. The Company expects that the lease components are the predominant component in the majority of its leasing arrangements and will account for the combined component as an operating lease under Topic 842. The Company currently does not believe the adoption will significantly affect the timing of the recognition of its combined lease and non-lease components. In December 2018, the FASB issued Accounting Standards Update 2018-20, Narrow-Scope Improvements for Lessors (“ASU 2018-20”). The new standard includes amendments related to sales taxes and other similar taxes collected from lessees, lessor costs paid by a lessee and recognition of variable payments for contracts with lease and non-lease components. The effective date in this Update is the same as that of ASU 2016-02, which is for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The Company plans to adopt this guidance on January 1, 2019. The Company expects the adoption of ASU 2018-20 will have an immaterial impact on the Company’s financial statements and disclosures. In January 2016, the 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. ASU 2016-01, among other things, (i) requires equity investments, with certain exceptions, to be measured at fair value with changes in fair value recognized in net income, (ii) simplifies the impairment assessment of equity investments without readily determinable fair values by requiring a qualitative assessment to identify impairment, (iii) eliminates the requirement for public business entities to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet, (iv) requires public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes, and (v) requires separate presentation of financial assets and financial liabilities by measurement category and form of financial asset on the balance sheet or the accompanying notes to the financial statements. ASU 2016-01 is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. This guidance is effective for the Company beginning on January 1, 2018. The adoption of ASU 2016-01 did not have a material impact on its financial statements and disclosures. In May 2014, the FASB issued Accounting Standards Update 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 with 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. This guidance was effective for the Company beginning on January 1, 2018. The adoption of ASU 2014-09 did not have a material impact on the Company’s financial statements and disclosures as revenues calculated under the new guidelines were substantially the same as had previously been determined.

Concentration of Credit Risk an

Concentration of Credit Risk and Major Customers	12 Months Ended
	Dec. 31, 2018
Concentration of Credit Risk and Major Customers [Abstract]
Concentration of Credit Risk and Major Customers	3. Concentration of credit risk and major customers: The Company leases equipment to lessees and provides debt financing to borrowers in diversified industries. Leases and notes receivable are subject to the Managing Member’s credit committee review. The leases and notes receivable provide for the return of the equipment to the Company upon default. As of December 31, 2018 and 2017, there were concentrations (greater than or equal to 10% as a percentage of total equipment cost) of equipment leased to lessees and/or financed for borrowers in certain industries as follows: Percentage of Total Equipment Cost Industry 2018 2017 Transportation, rail 30 % 33 % Construction 14 % 12 % Agriculture 11 % 12 % Transportation, air 10 % * * During 2018 and 2017, certain lessees and/or financial borrowers generated significant portions (defined as greater than or equal to 10%) of the Company’s total leasing and lending revenues, excluding gains or losses on disposition of assets, as follows: Percentage of Total Leasing and Lending Revenues Lessee Type of Equipment 2018 2017 Union Pacific Railroad Company Railroad 22 % 26 % Cargill, Inc. Agriculture/Construction 11 % 16 % Aggregate Industries Management, Inc. Mining 11 % * Indiana Michigan Power Company Marine * 10 % Waste Management of New York, LLC Containers/Refuse systems * 10 % * These percentages are not expected to be comparable in future periods due to anticipated changes in the mix of investments and/or lessees as a result of normal business activities.

Notes Receivable, Net

Notes Receivable, Net	12 Months Ended
	Dec. 31, 2018
Notes Receivable, Net [Abstract]
Notes Receivable, Net	4. Notes receivable, net: The Company has various notes receivable from borrowers who have financed the purchase of equipment through the Company. As of December 31, 2018, the original terms of the notes are from 24 to 42 months with interest rates ranging from 11.55% to 16.49% per annum. The notes are secured by the equipment financed and have maturity dates ranging from 2020 to 2022. As of December 31, 2018, the minimum future payments receivable are as follows (in thousands): Year ending December 31, 2019 $ 2,376 1,241 493 9 4,119 Less: portion representing unearned interest income (496) 3,623 Less: warrants - notes receivable discount (178) Unamortized initial direct costs 10 Notes receivable, net $ 3,455 IDC amortization expense related to notes receivable and the Company’s operating leases for the years ended December 31, 2018 and 2017 are as follows (in thousands): 2018 2017 IDC amortization - notes receivable $ 11 $ 4 IDC amortization - lease assets 66 54 Total $ 77 $ 58

Investment in Equipment and Lea

Investment in Equipment and Leases, Net	12 Months Ended
	Dec. 31, 2018
Investments in Equipment and Leases, Net [Abstract]
Investment in Equipment and Leases, Net	5. Investments in equipment and leases, net: The Company’s investment in leases consists of the following (in thousands): Balance Depreciation/ Balance December 31, Amortization December 31, 2017 Additions Expense 2018 Net investment in operating leases $ 9,970 $ 1,252 $ (1,221) $ 10,001 Initial direct costs, net of accumulated amortization of $148 at December 31, 2018 and $82 at December 31, 2017 230 21 (66) 185 Total $ 10,200 $ 1,273 $ (1,287) $ 10,186 The Company utilizes a straight line depreciation method over the term of the equipment lease for equipment on operating leases currently in its portfolio. Depreciation expense on the Company’s equipment totaled $1.2 million and $931 thousand for the respective years ended December 31, 2018 and 2017. IDC amortization expense related to the Company’s operating leases totaled $66 thousand and $54 thousand for 2018 and 2017, respectively. All of the Company’s lease asset purchases and capital improvements were made during the years from 2016 through 2018. Operating leases: Property on operating leases consists of the following (in thousands): Balance Balance December 31, Reclassifications December 31, 2017 Additions or Dispositions 2018 Transportation, rail $ 3,679 $ — $ — $ 3,679 Mining 1,320 408 — 1,728 Construction 1,242 — — 1,242 Paper processing 1,058 — — 1,058 Marine vessels 1,041 — — 1,041 Containers 860 — — 860 Agriculture 742 — — 742 Materials handling 711 — — 711 Aviation 462 844 — 1,306 Transportation, other 97 — — 97 11,212 1,252 — 12,464 Less accumulated depreciation (1,242) (1,221) — (2,463) Total $ 9,970 $ 31 $ — $ 10,001 The average estimated residual value for assets on operating leases was 38% and 39% of the assets’ original cost at December 31, 2018 and 2017, respectively. There were no operating leases in non-accrual status at both December 31, 2018 and 2017. At December 31, 2018, the aggregate amounts of future minimum lease payments receivable are as follows (in thousands): Operating Leases Year ending December 31, 2019 $ 1,776 1,595 1,110 897 842 2024 and thereafter 882 $ 7,102 The useful lives for each category of leases is reviewed at a minimum of once per quarter. As of December 31, 2018, the respective useful lives of each category of lease assets in the Company’s portfolio are as follows (in years): Equipment category Useful Life Transportation, rail 35 - 50 Marine vessel 20 - 30 Containers 15 - 20 Aviation 15 - 20 Mining 10 - 15 Paper processing 10 - 15 Agriculture 7 - 10 Construction 7 - 10 Materials handling 7 - 10 Transportation 7 - 10

Allowance for Credit Losses

Allowance for Credit Losses	12 Months Ended
	Dec. 31, 2018
Allowance for Credit Losses [Abstract]
Allowance for Credit Losses	6. Allowance for credit losses: The Company’s allowance for credit losses are as follows (in thousands): Accounts Receivable Allowance for Doubtful Accounts Operating Leases Balance December 31, 2017 $ 18 Reversal of provision for credit losses (18) Balance December 31, 2018 $ — The Company evaluates the credit quality of its financing receivables on a scale equivalent to the following quality indicators related to corporate risk profiles: Pass — Any account whose lessee/debtor, co-lessee/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 December 31, 2018 and 2017, the Company’s financing receivables by credit quality indicator and by class of financing receivables are as follows (excludes initial direct costs) (in thousands): Notes Receivable December 31, December 31, 2018 2017 Pass $ 3,623 $ 1,813 Special mention — — Substandard — — Doubtful — — Total $ 3,623 $ 1,813 At December 31, 2018 and December 31, 2017, investment in financing receivables is aged as follows (in thousands): Recorded Greater Total Investment>90 31-60 Days 61-90 Days Than Total Financing Days and September 30, 2018 Past Due Past Due 90 Days Past Due Current Receivables Accruing Notes receivable $ — $ — $ — $ — $ 3,623 $ 3,623 $ — Total $ — $ — $ — $ — $ 3,623 $ 3,623 $ — Recorded Greater Total Investment>90 31-60 Days 61-90 Days Than Total Financing Days and December 31, 2017 Past Due Past Due 90 Days Past Due Current Receivables Accruing Notes receivable $ — $ — $ — $ — $ 1,813 $ 1,813 $ — Total $ — $ — $ — $ — $ 1,813 $ 1,813 $ — The Company had no financing receivables on non-accrual or impaired status at December 31, 2018 and 2017.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2018
Related Party Transactions [Abstract]
Related Party Transactions	7. 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 lease and equipment 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. Each of AFS and ATEL Leasing Corporation (“ALC”) is a wholly-owned subsidiary of ATEL Capital Group, Inc. and performs services for the Company on behalf of the Managing Member. Acquisition services, equipment management, lease administration and asset disposition services are performed by ALC; investor relations, communications and general administrative services are performed by AFS. 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. The Managing Member and/or affiliates earned fees and billed for reimbursements, pursuant to the Operating Agreement, during the years ended December 31, 2018 and 2017 are as follows (in thousands): For the Year Ended December 31, 2018 2017 Selling commissions, equal to 9% of the selling price of the Limited Liability Company Units, deducted from Other Members capital $ 31 $ 965 Reimbursement of other syndication costs to Managing Member and/or affiliates, deducted from Other Members capital 20 643 Special discounts — 19 Administrative costs reimbursed to Managing Member and/or affiliates 421 280 Asset management fees to Managing Member 268 167 Acquisition and initial direct costs paid to Managing Member 145 339 $ 885 $ 2,413

Non-Recourse Debt

Non-Recourse Debt	12 Months Ended
	Dec. 31, 2018
Non-Recourse Debt [Abstract]
Non-Recourse Debt	8. Non-recourse debt: At December 31, 2018, non-recourse debt consists of notes payable to financial institutions. The note payments are due in monthly installments. Interest on the notes range from 3.72% to 4.66% per annum. The notes are secured by assignments of lease payments and pledges of assets. At December 31, 2018, gross operating lease rentals totaled approximately $3.8 million over the remaining lease terms and the carrying value of the pledged assets was $5.8 million. The notes mature from 2020 through 2024. The non-recourse debt does not contain any material financial covenants. The debt is secured by a lien granted by the Company to the non-recourse lenders on (and only on) the discounted lease transactions. The lenders have recourse only to the following collateral: the specific leased equipment; the related lease chattel paper; the lease receivables; and proceeds of the foregoing items. The non-recourse obligation is payable solely out of the respective specific security and the Company does not guarantee (nor is the Company otherwise contractually responsible for) the payment of the non-recourse debt as a general obligation or liability of the Company. Although the Company does not have any direct or general liability in connection with the non-recourse debt apart from the security granted, the Company is directly and generally liable and responsible for certain representations, warranties, and covenants made to the lenders, such as warranties as to genuineness of the transaction parties’ signatures, as to the genuineness of the respective lease chattel paper or the transaction as a whole, or as to the Company’s good title to or perfected interest in the secured collateral, as well as similar representations, warranties and covenants typically provided by non-recourse borrowers and customary in the equipment finance industry, and are viewed by such industry as being consistent with non-recourse discount financing obligations. Accordingly, as there are no financial covenants or ratios imposed on the Company in connection with the non-recourse debt, the Company has determined that there are no material covenants with respect to the non-recourse debt that warrant footnote disclosure. Future minimum payments of non-recourse debt are as follows (in thousands): Principal Interest Total Year ending December 31, 2019 $ 948 $ 125 $ 1,073 846 90 936 608 59 667 455 39 494 456 19 475 218 4 222 $ 3,531 $ 336 $ 3,867

Syndication Costs

Syndication Costs	12 Months Ended
	Dec. 31, 2018
Syndication Costs [Abstract]
Syndication Costs	9. Syndication Costs: Syndication costs are reflected as a reduction to Members’ capital, as such costs are netted against the capital raised. The amount shown is primarily comprised of selling commissions, well as fees pertaining to the organization of the Fund, document preparation, regulatory filing fees, and accounting and legal costs. Syndication costs totaled $51 thousand and $1.6 million for the respective years ended December 31, 2018 and 2017. The Operating Agreement places a limit for cost reimbursements to the Managing Member and/or affiliates. When added to selling commissions, such cost reimbursements may not exceed a total equal to 15% of all offering proceeds. As of December 31, 2018, the Company had not recorded any syndication costs in excess of the limitation. The limitation on the amount of syndication costs pursuant to the Operating Agreement is determined on the date of termination of the offering. At such time, the Manager guarantees repayment of any excess syndication costs (above the limitation) which it may have collected from the Company, which guarantee is without recourse or reimbursement by the Fund.

Borrowing Facilities

Borrowing Facilities	12 Months Ended
	Dec. 31, 2018
Borrowing Facilities [Abstract]
Borrowing Facilities	10. Borrowing facilities: Effective June 30, 2017, the Company participated with ATEL Capital Group and certain subsidiaries and affiliated funds in a $75 million revolving credit facility (the “Credit Facility”) with a syndicate of financial institutions as lenders. The Credit Facility is comprised of a working capital facility, an acquisition facility (the “Acquisition Facility”) and a warehouse facility (the “Warehouse Facility”), the Company and affiliates, and a venture facility As of December 31, 2018, the Credit Facility is for an amount of $75 million and has been extended to June 30, 2019. The lending syndicate providing the Credit Facility has a blanket lien on all of the Company’s assets as collateral for any and all borrowings under the Acquisition Facility, and on a pro-rata basis under the Warehouse Facility. Such Credit Facility includes certain financial covenants. The interest rate on the Credit Facility is based on either the LIBOR/Eurocurrency rate of 1-, 2-, 3- or 6-month maturity plus a lender designated spread, or the bank’s Prime rate, which re-prices daily. At December 31, 2018, and 2017, approximately $72.9 million and $69.2 million, respectively, were available under the facility, and the Company had no outstanding borrowing under the facility.

Commitments

Commitments	12 Months Ended
	Dec. 31, 2018
Commitments [Abstract]
Commitments	11 . Commitments: At December 31, 2018, there were no commitments to purchase lease assets and fund investments in notes receivable.

Guarantees

Guarantees	12 Months Ended
	Dec. 31, 2018
Guarantees [Abstract]
Guarantees	12. Guarantees: The Company enters into contracts that contain a variety of indemnifications. The Company’s maximum exposure under these arrangements is unknown. However, the Company has not had prior claims or losses pursuant to these contracts and expects the risk of loss to be 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	12 Months Ended
	Dec. 31, 2018
Members' Capital [Abstract]
Members' Capital	13. Members’ capital: A total of 2,565,749 Units were issued and outstanding at December 31, 2018, including the 50 Units issued to the initial Member (Managing Member). The Fund was authorized to issue up to 15,000,000 Units in addition to the Units issued to the initial Member. The Company has the right, exercisable at the Managing Member’s discretion, but not the obligation, to repurchase Units of a Unitholder who ceases to be a U.S. Citizen, for a price equal to 100% of the holder’s capital account. The Company is otherwise permitted, but not required, to repurchase Units upon a holder’s request. The repurchase of Fund Units is made in accordance with Section 13 of the Amended and Restated Limited Liability Company Operating Agreement. The repurchase would be at the discretion of the Managing Member on terms it determines to be appropriate under given circumstances, in the event that the Managing Member deems such repurchase to be in the best interest of the Company; provided, the Company is never required to repurchase any Units. Upon the repurchase of any Units by the Fund, the tendered Units are cancelled. Units repurchased in prior periods were repurchased at amounts representing the original investment less cumulative distributions made to the Unitholder with respect to the Units. All Units repurchased during a quarter are deemed to be repurchased effective the last day of the preceding quarter, and are not deemed to be outstanding during, or entitled to allocations of net income, net loss or distributions for the quarter in which such repurchase occurs. The Fund’s net income or net losses are to be allocated 100% to the members. From the commencement of the Fund until the initial closing date, net income and net loss were allocated 99% to the Managing Member and 1% to the initial members. Commencing with the initial closing date, net income and net loss are to be allocated 99.99% to the Other Members and 0.01% to the Managing Member. Fund distributions are to be allocated 0.01% to the Managing Member and 99.99% to the Other Members. The Company commenced periodic distributions in February 2016. Distributions to the Other Members for the years ended December 31, 2018 and 2017 were as follows (in thousands except Units and per Unit data): 2018 2017 Distributions $ 2,054 $ 1,640 Weighted average number of Units outstanding 2,567,041 2,058,512 Weighted average distributions per Unit $ 0.80 $ 0.80

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2018
Fair Value Measurements [Abstract]
Fair Value Measurements	14. Fair value measurements: Under applicable accounting standards, fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. 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, generally on a national exchange. 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 December 31, 2018 and 2017, only the Company’s warrants were measured on a recurring basis. 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, information from third party remarketing agents, 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 equipment, 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. Such fair value adjustments utilized the following methodology: 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 are determined using a Black-Scholes formulation of value based upon the stock price(s), the exercise price(s), the volatility of comparable venture companies, the time to maturity, and a risk free interest rate for the term(s) of the warrant exercise(s). As of December 31, 2018 and 2017, the calculated fair value of the Fund’s warrant portfolio approximated $302 thousand and $62 thousand, respectively. Such valuations are classified within Level 3 of the valuation hierarchy. The following table reconciles the beginning and ending balances of the Company’s Level 3 recurring assets (in thousands): 2018 2017 Fair value of warrants at beginning of year $ 62 $ 51 Fair value of new warrants, recorded during the year (included as a discount on notes receivable) 224 — Unrealized gain on fair valuation of warrants 16 11 Fair value of warrants at end of year $ 302 $ 62 The following table summarizes the valuation techniques and significant unobservable inputs used for the Company’s recurring and non-recurring fair value calculation/adjustments categorized as Level 3 in the fair value hierarchy at December 31, 2018 and 2017: December 31, 2018 Valuation Valuation Unobservable Range of Name Frequency Technique Inputs Input Values Warrants Recurring Black-Scholes formulation Stock price $0.18 - $14.50 Exercise price $0.02 - $9.00 Time to maturity (in years) 7.63 - 12.95 Risk-free interest rate 2.61% - 2.74% Annualized volatility 34.20% - 292.35% December 31, 2017 Valuation Valuation Unobservable Range of Name Frequency Technique Inputs Input Values Warrants Recurring Black-Scholes formulation Stock price $3.88 - $4.59 Exercise price $2.54 - $3.98 Time to maturity (in years) 8.63 - 13.95 Risk-free interest rate 2.37% - 2.47% Annualized volatility 37.63% - 42.49% 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 determines 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. Commitments and Contingencies Management has determined that no recognition for the fair value of the Company’s loan commitments is necessary because their terms are made on a market rate basis and require borrowers to be in compliance with the Company’s credit requirements at the time of funding. The fair value of contingent liabilities (or guarantees) is not considered material because management believes there has been no event that has occurred wherein a guarantee liability has been incurred or will likely be incurred. 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 December 31, 2018 and 2017 (in thousands): December 31, 2018 Carrying Amount Level 1 Level 2 Level 3 Total Financial assets: Cash and cash equivalents $ 6,484 $ 6,484 $ — $ — $ 6,484 Notes receivable, net 3,455 — — 3,370 3,370 Warrants, fair value 302 — — 302 302 Financial liabilities: Non-recourse debt 3,531 — — 3,539 3,539 December 31, 2017 Carrying Amount Level 1 Level 2 Level 3 Total Financial assets: Cash and cash equivalents $ 7,092 $ 7,092 $ — $ — $ 7,092 Notes receivable, net 1,794 — — 1,794 1,794 Warrants, fair value 62 — — 62 62

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policy)	12 Months Ended
	Dec. 31, 2018
Summary of Significant Accounting Policies [Abstract]
Basis of Presentation	Basis of presentation: The accompanying balance sheets as of December 31, 2018 and 2017, and the related statements of operations, changes in members’ capital, and cash flows for the years then ended, have been prepared in accordance with accounting principles generally accepted in the United States of America (‘GAAP’) and the rules and regulations of the Securities and Exchange Commission. Certain prior year amounts have been reclassified to conform to the current year presentation. These reclassifications had no significant effect on the reported financial position or results from operations. Footnote and tabular amounts are presented in thousands, except as to Units and per data. In preparing the accompanying financial statements, the Company has reviewed, as determined necessary by the Managing Member, events that have occurred after December 31, 2018, up until the issuance of the financial statements. No events were noted which would require additional disclosure in the footnotes to the financial statements, and adjustments thereto.
Cash and Cash Equivalents	Cash and cash equivalents: Cash and cash equivalents include cash in banks and cash equivalent investments such as U.S. Treasury instruments with original and/or purchased maturities of ninety days or less.
Use of Estimates	Use of Estimates: 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 residual values at the end of the lease term and expected future cash flows used for impairment analysis purposes and for determination of the allowance for doubtful accounts and reserve for credit losses on notes receivable.
Accounts Receivable	Accounts receivable: Accounts receivable represent the amounts billed under operating lease contracts, and notes receivable which are currently due to the Company. Allowances for doubtful accounts are typically established based on historical charge off and collection experience and the collectability of specifically identified lessees and 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 .
Credit Risk	Credit risk: Financial instruments that potentially subject the Company to concentrations of credit risk include cash and cash equivalents, operating lease receivable, notes receivable and accounts receivable. The Company places the majority of its cash deposits in noninterest-bearing accounts with financial institutions that have no less than $10 billion in assets. Such deposits are insured up to $250 thousand. The remainder of the Funds’ cash is temporarily invested in U.S. Treasury denominated instruments. The concentration of such deposits and temporary cash investments is not deemed to create a significant risk to the Company. Accounts and notes receivable represent amounts due from lessees or borrowers in various industries, related to equipment on operating leases or notes receivable.
Equipment on Operating Leases and Related Revenue Recognition	Equipment on operating leases and related revenue recognition: Equipment subject to operating leases is stated at cost. Depreciation is recognized on a straight-line method over the terms of the related leases to the equipment’s estimated residual values. Off-lease equipment is generally not subject to depreciation. The Company depreciates all lease assets, in accordance with guidelines consistent with the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 840‑20‑35‑3, over the periods of the lease terms contained in each asset’s respective lease contract to the estimated residual value at the end of the lease contract. All lease assets are purchased only concurrent with the execution of a lease commitment by the lessee. Thus, the original depreciation period corresponds with the term of the original lease. Once the term of an original lease contract is completed, the subject property is typically sold to the existing user, re-leased to the existing user, or, when off-lease, is held for sale. Assets which are re-leased continue to be depreciated using the terms of the new lease agreements and the estimated residual values at the end of the new lease terms, adjusted downward as necessary. Assets classified as held-for-sale are carried at the lower of carrying amount, or the fair value less cost to sell. The Company does not use the equipment held in its portfolio, but holds it solely for lease and ultimate sale. In the course of marketing equipment that has come off-lease, management may determine at some point that re-leasing the assets may provide a superior return for investors and would then execute another lease. Upon entering into a new lease contract, management will estimate the residual value once again and resume depreciation. If and when the Company, at any time, determines that depreciation in value may have occurred with respect to an asset held-for-sale, the Company would review the value to determine whether a material reduction in value had occurred and recognize any appropriate impairment. All lease assets, including off-lease assets, are subject to the Company’s quarterly impairment analysis, as described below. Maintenance costs associated with the Fund’s portfolio of leased assets are expensed as incurred. Major additions and betterments are capitalized. Operating lease revenue is recognized on a straight-line basis over the term of the underlying leases. The initial lease terms will vary as to the type of equipment subject to the leases, the needs of the lessees and the terms to be negotiated, but initial leases are generally on terms from 36 to 120 months. The difference between rent received and rental revenue recognized is recorded as unearned operating lease income on the balance sheet. Operating leases 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 considers the equipment underlying the lease contracts for impairment and periodically reviews the credit worthiness of all operating lessees with payments outstanding less than 90 days. Based upon management’s judgment, the related operating leases may be placed on non-accrual status. Leases 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 lease payments is probable. Until such time, revenues are recognized on a cash basis.
Notes Receivable, Unearned Interest Income and Related Revenue Recognition	Notes receivable, unearned interest income and related revenue recognition: The Company records all future payments of principal and interest on notes as notes receivable, which are then offset by the amount of any related unearned interest income. For financial statement purposes, the Company reports only the net amount of principal due on the balance sheet. The unearned interest is recognized over the term of the note and the income portion of each note payment is calculated so as to generate a constant rate of return on the net balance outstanding. Any fees or costs related to notes receivable are recorded as part of the net investment in notes receivable and amortized over the term of the loan. Allowances for losses on notes receivable are typically established based on historical charge off and collection experience and the collectability of specifically identified borrowers and billed and unbilled receivables. 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 payments 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. Notes 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, the related notes may be placed on 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. Until such time, all payments received are applied only against outstanding principal balances.
Initial Direct Costs	Initial direct costs: The Company capitalizes initial direct costs (“IDC”) associated with the origination and funding of lease assets and investments in notes receivable. IDC includes both internal costs (e.g., the costs of employees’ activities in connection with successful lease and loan originations) and external broker fees incurred with such originations. The costs are amortized on a lease by lease (or note by note) basis based on actual lease term using a straight-line method for operating leases and the effective interest rate method for notes receivable. Upon disposal of the underlying lease assets and notes receivable, both the initial direct costs and the associated accumulated amortization are relieved. Costs related to leases or notes receivable that are not consummated are not eligible for capitalization as initial direct costs and are expensed as acquisition expense .
Acquisition Expense	Acquisition expense: Acquisition expense represents costs which include, but are not limited to, legal fees and expenses, travel and communication expenses, cost of appraisals, accounting fees and expenses and miscellaneous expenses related to the selection and acquisition of equipment which are reimbursable to the Managing Member under the terms of the Operating Agreement. As the costs are not eligible for capitalization as initial direct costs, such amounts are expensed as incurred.
Asset Valuation	Asset valuation: Recorded values of the Company’s leased asset portfolio are reviewed each quarter to confirm the reasonableness of established residual values and to determine whether there is indication that an asset impairment might have taken place. The Company uses a variety of sources and considers many factors in evaluating whether the respective book values of its assets are appropriate. In addition, the Company may direct a residual value review at any time if it becomes aware of issues regarding the ability of a lessee to continue to make payments on its lease contract. An impairment loss is measured and recognized only if the estimated undiscounted future cash flows of the asset are less than the net book value. The estimated undiscounted future cash flows are the sum of the residual value of the asset at the end of the asset’s lease contract and undiscounted future rents from the existing lease contract. The residual value assumes, among other things, that the asset is utilized normally in an open, unrestricted and stable market. Short-term fluctuations in the marketplace are disregarded and it is assumed that there is no necessity either to dispose of a significant number of the assets, if held in quantity, simultaneously or to dispose of the asset quickly. Impairment is measured as the difference between the fair value (as determined by a valuation method using discounted estimated future cash flows, third party appraisals or comparable sales of similar assets as applicable based on asset type) of the asset and its carrying value on the measurement date. Upward adjustments for impairments recognized in prior periods are not made in any circumstances.
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 Company’s principal decision makers are the Managing Member’s Chief Executive Officer and its Chief Financial Officer and Chief Operating Officer. The Company believes that its equipment leasing business operates as one reportable segment because: a) the Company measures profit and loss at the equipment portfolio level as a whole; b) the principal decision makers do not review information based on any operating segment other than the equipment leasing transaction portfolio; c) the Company does not maintain discrete financial information on any specific segment other than its equipment financing operations; d) the Company has not chosen to organize its business around different products and services other than equipment lease financing; and e) the Company has not chosen to organize its business around geographic areas. The primary geographic region in which the Company seeks leasing opportunities is North America. For the year ended December 31, 2018, all of the Company’s current operating revenues and long-lived assets relate to customers domiciled in the United States.
Investment in Securities	Investment in securities: 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. The Company recorded unrealized gains of $16 thousand and $11 thousand on fair valuation of its warrants during 2018 and 2017, respectively. The estimated fair value of the Company’s portfolio of warrants was $302 thousand and $62 thousand for the years ended December 31, 2018 and 2017, respectively.
Unearned Operating Lease Income	Unearned operating lease income: The Company records prepayments on operating leases as a liability under the caption of unearned operating lease income. The liability is recorded when prepayments are received and recognized as operating lease revenue over the period to which the prepayments relate using a straight-line method.
Income Taxes	Income Taxes: The Company is treated as a partnership for federal income tax purposes. Pursuant to the provisions of Section 701 of the Internal Revenue Code, a partnership is not subject to federal income taxes. Accordingly, the Company has provided current franchise income taxes for only those states which levy income taxes on partnerships. For the year ended December 31, 2017, the related provision for state income taxes was approximately $7 thousand and for the year ended December 31, 2018, the Company received $5 thousand income tax credit adjustments. The Company does not have any entity level uncertain tax positions. The Company files income tax returns in the U.S. federal jurisdiction and various state jurisdictions and is generally subject to examination by U.S. federal (or state and local) income tax authorities for three years from the filing of a tax return. The tax bases of the Company’s net assets and liabilities vary from the amounts presented in these financial statements at December 31, 2018 and 2017 as follows (in thousands): 2018 2017 Financial statement basis of net assets $ 16,621 $ 18,707 Tax basis of net assets (unaudited) 16,525 20,689 Difference $ 96 $ (1,982) The primary differences between the tax bases of net assets and the amounts recorded in the financial statements are the result of differences in accounting for syndication costs and differences between the depreciation methods used in the financial statements and the Company’s tax returns. The following reconciles the net loss reported in these financial statements to the loss reported on the Company’s federal tax return (unaudited) for the years ended December 31, 2018 and 2017 (in thousands): 2018 2017 Net loss per financial statements $ (170) $ (481) Tax adjustments (unaudited): Adjustment to depreciation expense (2,049) (1,550) Provision for losses and doubtful accounts (18) 18 Adjustments to revenues (68) 50 Other (5) 7 Loss per federal tax return (unaudited) $ (2,310) $ (1,956)
Emerging Growth Company	Emerging growth company: Section 107 of the Jumpstart Our Business Startups Act (the “JOBS Act”) provides that an emerging growth company can take advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act for complying with new or revised accounting standards. In other words, an emerging growth company can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. However, we have chosen to “opt out” of such extended transition period and, as a result, we will comply with new or revised accounting standards on the relevant dates on which adoption of such standards is required for non-emerging growth companies. Section 107 of the JOBS Act provides that our decision to opt out of the extended transition period for complying with new or revised accounting standards is irrevocable.
Per Unit Data	Per Unit data: Net loss and distributions per Unit are based upon the weighted average number of members Units outstanding during the year.
Recent Accounting Pronouncements	Recent accounting pronouncements: In November 2018, the FASB issued Accounting Standards Update 2018-19, Codification Improvements to Topic 326, Financial Instruments — Credit Losses (“ASU 2018-19”). The new standard clarifies certain aspects of the new current expected credit losses (CECL) impairment model in ASU 2016-13. The amendment clarifies that receivables arising from operating leases are within the scope of ASC 842, rather than ASC 326. The effective date and transition requirements in this Update are the same as the effective dates and transition requirements in Update 2016-13, as amended by this Update, which is for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Management is currently evaluating the impact of the standard on the financial statements and related disclosure requirements. In August 2018, the FASB issued Accounting Standards Update 2018-13, Fair Value Measurement (“ASU 2018-13”), which amends the disclosure requirements on fair value measurements in Topic 820, Fair Value Measurement. This ASU modifies disclosure requirements for fair value measurements by removing, modifying or adding certain disclosures. The amendments in this Update are effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. The amendments on changes in unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement uncertainty should be applied prospectively for only the most recent interim or annual period presented in the initial fiscal year of adoption. All other amendments should be applied retrospectively to all periods presented upon their effective date. Early adoption is permitted upon issuance of this Update. An entity is permitted to early adopt any removed or modified disclosures upon issuance of this Update and delay adoption of the additional disclosures until their effective date. Management is currently evaluating the impact of this standard on the financial statements and related disclosure requirements. In August 2016, the FASB issued Accounting Standards Update 2016-15 — Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (“ASU 2016‑15”). ASU 2016‑15 addresses specific cash flow issues with the objective of reducing the existing diversity in practice. The amendments in this Update are effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. This guidance is effective for the Company beginning on January 1, 2018. The adoption of ASU 2016‑15 did not have a material impact on its financial statements and disclosures. In June 2016, the FASB issued Accounting Standards Update 2016‑13, Financial Instruments — Credit Losses (Topic 326) (“ASU 2016‑13”). The main objective of this Update is to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date. To achieve this objective, the amendments in this Update replace the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The amendments affect entities holding financial assets and net investment in leases that are not accounted for at fair value through net income. The amendments affect loans, debt securities, trade receivables, net investments in leases, off-balance-sheet credit exposures, reinsurance receivables, and any other financial assets not excluded from the scope that have the contractual right to receive cash. ASU 2016‑13 is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is permitted for fiscal years beginning after December 15, 2018. Management is currently evaluating the standard and expects the Update may potentially result in an increase in the allowance for credit losses given the change to estimated losses over the contractual life adjusted for expected prepayments. In February 2016, the FASB issued Accounting Standards Update 2016‑02, Leases (Topic 842) (“ASU 2016‑02”). The new standard will require lessees to recognize lease assets and lease liabilities arising from operating leases with lease terms greater than 12 months in the statement of financial position. Lessor accounting per ASU 2016‑02 is mostly unchanged from the previous lease accounting under GAAP. Certain changes were made to the lessor accounting guidance in order to align the lessor accounting with the lessee accounting model and Topic 606, Revenue from Contracts with Customers. Similar to the previous guidance, lessors will classify leases as operating, direct financing, or sales-type. Lessors in operating leases will continue to recognize the underlying asset and recognize income on a straight-line basis. Lessors determine whether a lease is a sale of the underlying asset based on whether the lessee effectively obtains control of the underlying assets. ASU 2016‑02 is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. While early adoption is permitted, the Company does not expect to elect that option. The Company expects to adopt the guidance in the first quarter 2019 using the modified retrospective method. Management is currently evaluating the impact of this standard on the financial statements and its operational and related disclosure requirements, including the impact on the Company’s current lease portfolio from a lessor perspective. As part of the adoption of the standard, the Company has selected and is in the process of implementing new lease accounting software. The Company is in the process of identifying and designing appropriate changes to its business processes, systems and controls to support the new standard. Given the limited changes to lessor accounting, Management does not expect material changes to recognition or measurement. In July 2018, the FASB issued Accounting Standards Update 2018-11, Leases (Topic 842) Targeted Improvements (“ASU 2018-11”). The new standard provides a new transition method and practical expedient to simplify the application of the new leasing standard. Under the new transition method, comparative periods presented in the financial statements in the period of adoption will not need to be restated. Instead, a Company would initially apply the new lease requirements at the effective date, and recognize a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. The Company would continue to report comparative periods presented in the financial statements in the period of adoption under current GAAP and provide the applicable required disclosures for such periods. The new practical expedient allows lessors to avoid separating lease and associated nonlease components within a contract if certain criteria are met. If elected, lessors will be able to aggregate nonlease components that otherwise would be accounted for under the new revenue standard with the associated lease component if the following conditions are met (1) the timing and pattern of transfer of the nonlease component and the associated lease component are the same and (2) the stand-alone lease component would be classified as an operating lease if accounted for separately. For entities that have not adopted Topic 842 before the issuance of this Update, the effective date and transition requirements for the amendments in this Update related to separating components of a contract are the same as the effective date and transition requirements in Update 2016-02. The practical expedient may be elected either in the first reporting period following the issuance of this Update or at the original effective date of Topic 842 for that entity. The practical expedient may be applied either retrospectively or prospectively. Management is currently evaluating the impact of the standard on the financial statements and related disclosure requirements. The Company plans to adopt this guidance on January 1, 2019 and will prospectively apply the new lease requirements and recognize a cumulative effect adjustment upon adoption. As part of the adoption, the Company has elected to apply the package of transitional practical expedients under which the Company will not reassess prior conclusions about lease identification, lease classification, and initial direct costs of existing leases as of the date of adoption. Under Topic 842, initial direct costs include only those incremental costs of a lease that would not have been incurred if the lease had not been executed. Therefore, only certain costs that the Company capitalized as initial direct costs under ASC Topic 840: Leases may be expensed as incurred under Topic 842. The Company expects an immaterial cumulative effect adjustment upon adoption. The Company plans to elect the lessor practical expedient to combine the lease and non-lease components. The Company expects that the lease components are the predominant component in the majority of its leasing arrangements and will account for the combined component as an operating lease under Topic 842. The Company currently does not believe the adoption will significantly affect the timing of the recognition of its combined lease and non-lease components. In December 2018, the FASB issued Accounting Standards Update 2018-20, Narrow-Scope Improvements for Lessors (“ASU 2018-20”). The new standard includes amendments related to sales taxes and other similar taxes collected from lessees, lessor costs paid by a lessee and recognition of variable payments for contracts with lease and non-lease components. The effective date in this Update is the same as that of ASU 2016-02, which is for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The Company plans to adopt this guidance on January 1, 2019. The Company expects the adoption of ASU 2018-20 will have an immaterial impact on the Company’s financial statements and disclosures.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2018
Summary of Significant Accounting Policies [Abstract]
Schedule of Differences Between Book Value and Tax Basis of Net Assets	The tax bases of the Company’s net assets and liabilities vary from the amounts presented in these financial statements at December 31, 2018 and 2017 as follows (in thousands): 2018 2017 Financial statement basis of net assets $ 16,621 $ 18,707 Tax basis of net assets (unaudited) 16,525 20,689 Difference $ 96 $ (1,982)
Reconciliation of Net Income Loss Reported in Financial Statements and Federal Tax Return	The following reconciles the net loss reported in these financial statements to the loss reported on the Company’s federal tax return (unaudited) for the years ended December 31, 2018 and 2017 (in thousands): 2018 2017 Net loss per financial statements $ (170) $ (481) Tax adjustments (unaudited): Adjustment to depreciation expense (2,049) (1,550) Provision for losses and doubtful accounts (18) 18 Adjustments to revenues (68) 50 Other (5) 7 Loss per federal tax return (unaudited) $ (2,310) $ (1,956)

Concentration of Credit Risk _2

Concentration of Credit Risk and Major Customers (Tables)	12 Months Ended
	Dec. 31, 2018
Concentration of Credit Risk and Major Customers [Abstract]
Schedule of Equipment Leased	As of December 31, 2018 and 2017, there were concentrations (greater than or equal to 10% as a percentage of total equipment cost) of equipment leased to lessees and/or financed for borrowers in certain industries as follows: Percentage of Total Equipment Cost Industry 2018 2017 Transportation, rail 30 % 33 % Construction 14 % 12 % Agriculture 11 % 12 % Transportation, air 10 % * *
Schedule of Major Customers Credit Risk Concentration	During 2018 and 2017, certain lessees and/or financial borrowers generated significant portions (defined as greater than or equal to 10%) of the Company’s total leasing and lending revenues, excluding gains or losses on disposition of assets, as follows: Percentage of Total Leasing and Lending Revenues Lessee Type of Equipment 2018 2017 Union Pacific Railroad Company Railroad 22 % 26 % Cargill, Inc. Agriculture/Construction 11 % 16 % Aggregate Industries Management, Inc. Mining 11 % * Indiana Michigan Power Company Marine * 10 % Waste Management of New York, LLC Containers/Refuse systems * 10 % *

Notes Receivable, Net (Tables)

Notes Receivable, Net (Tables)	12 Months Ended
	Dec. 31, 2018
Notes Receivable, Net [Abstract]
Minimum Future Payments Receivable	As of December 31, 2018, the minimum future payments receivable are as follows (in thousands): Year ending December 31, 2019 $ 2,376 1,241 493 9 4,119 Less: portion representing unearned interest income (496) 3,623 Less: warrants - notes receivable discount (178) Unamortized initial direct costs 10 Notes receivable, net $ 3,455
Initial Direct Costs, Amortization Expense Related to Notes Receivable and Company's Operating and Direct Finance Leases	IDC amortization expense related to notes receivable and the Company’s operating leases for the years ended December 31, 2018 and 2017 are as follows (in thousands): 2018 2017 IDC amortization - notes receivable $ 11 $ 4 IDC amortization - lease assets 66 54 Total $ 77 $ 58

Investment in Equipment and L_2

Investment in Equipment and Leases, Net (Tables)	12 Months Ended
	Dec. 31, 2018
Investments in Equipment and Leases, Net [Abstract]
Investment in Leases	The Company’s investment in leases consists of the following (in thousands): Balance Depreciation/ Balance December 31, Amortization December 31, 2017 Additions Expense 2018 Net investment in operating leases $ 9,970 $ 1,252 $ (1,221) $ 10,001 Initial direct costs, net of accumulated amortization of $148 at December 31, 2018 and $82 at December 31, 2017 230 21 (66) 185 Total $ 10,200 $ 1,273 $ (1,287) $ 10,186
Property on Operating Leases	Property on operating leases consists of the following (in thousands): Balance Balance December 31, Reclassifications December 31, 2017 Additions or Dispositions 2018 Transportation, rail $ 3,679 $ — $ — $ 3,679 Mining 1,320 408 — 1,728 Construction 1,242 — — 1,242 Paper processing 1,058 — — 1,058 Marine vessels 1,041 — — 1,041 Containers 860 — — 860 Agriculture 742 — — 742 Materials handling 711 — — 711 Aviation 462 844 — 1,306 Transportation, other 97 — — 97 11,212 1,252 — 12,464 Less accumulated depreciation (1,242) (1,221) — (2,463) Total $ 9,970 $ 31 $ — $ 10,001
Future Minimum Lease Payments Receivable	At December 31, 2018, the aggregate amounts of future minimum lease payments receivable are as follows (in thousands): Operating Leases Year ending December 31, 2019 $ 1,776 1,595 1,110 897 842 2024 and thereafter 882 $ 7,102
Schedule of Useful Lives of Lease Assets	As of December 31, 2018, the respective useful lives of each category of lease assets in the Company’s portfolio are as follows (in years): Equipment category Useful Life Transportation, rail 35 - 50 Marine vessel 20 - 30 Containers 15 - 20 Aviation 15 - 20 Mining 10 - 15 Paper processing 10 - 15 Agriculture 7 - 10 Construction 7 - 10 Materials handling 7 - 10 Transportation 7 - 10

Allowance for Credit Losses (Ta

Allowance for Credit Losses (Tables)	12 Months Ended
	Dec. 31, 2018
Allowance for Credit Losses [Abstract]
Activity in Allowance for Doubtful Accounts and Credit Losses	The Company’s allowance for credit losses are as follows (in thousands): Accounts Receivable Allowance for Doubtful Accounts Operating Leases Balance December 31, 2017 $ 18 Reversal of provision for credit losses (18) Balance December 31, 2018 $ —
Financing Receivables by Credit Quality Indicator and by Class	At December 31, 2018 and 2017, the Company’s financing receivables by credit quality indicator and by class of financing receivables are as follows (excludes initial direct costs) (in thousands): Notes Receivable December 31, December 31, 2018 2017 Pass $ 3,623 $ 1,813 Special mention — — Substandard — — Doubtful — — Total $ 3,623 $ 1,813
Net Investment in Financing Receivables by Age	At December 31, 2018 and December 31, 2017, investment in financing receivables is aged as follows (in thousands): Recorded Greater Total Investment>90 31-60 Days 61-90 Days Than Total Financing Days and September 30, 2018 Past Due Past Due 90 Days Past Due Current Receivables Accruing Notes receivable $ — $ — $ — $ — $ 3,623 $ 3,623 $ — Total $ — $ — $ — $ — $ 3,623 $ 3,623 $ — Recorded Greater Total Investment>90 31-60 Days 61-90 Days Than Total Financing Days and December 31, 2017 Past Due Past Due 90 Days Past Due Current Receivables Accruing Notes receivable $ — $ — $ — $ — $ 1,813 $ 1,813 $ — Total $ — $ — $ — $ — $ 1,813 $ 1,813 $ —

Related Party Transactions (Tab

Related Party Transactions (Tables)	12 Months Ended
	Dec. 31, 2018
Related Party Transactions [Abstract]
Managing Members and/or Affiliates Earned Commissions and Billed for Reimbursements Pursuant to Operating Agreement	The Managing Member and/or affiliates earned fees and billed for reimbursements, pursuant to the Operating Agreement, during the years ended December 31, 2018 and 2017 are as follows (in thousands): For the Year Ended December 31, 2018 2017 Selling commissions, equal to 9% of the selling price of the Limited Liability Company Units, deducted from Other Members capital $ 31 $ 965 Reimbursement of other syndication costs to Managing Member and/or affiliates, deducted from Other Members capital 20 643 Special discounts — 19 Administrative costs reimbursed to Managing Member and/or affiliates 421 280 Asset management fees to Managing Member 268 167 Acquisition and initial direct costs paid to Managing Member 145 339 $ 885 $ 2,413

Non-Recourse Debt (Tables)

Non-Recourse Debt (Tables)	12 Months Ended
	Dec. 31, 2018
Non-Recourse Debt [Abstract]
Future Minimum Payments of Non-Recourse Debt	Future minimum payments of non-recourse debt are as follows (in thousands): Principal Interest Total Year ending December 31, 2019 $ 948 $ 125 $ 1,073 846 90 936 608 59 667 455 39 494 456 19 475 218 4 222 $ 3,531 $ 336 $ 3,867

Members' Capital (Tables)

Members' Capital (Tables)	12 Months Ended
	Dec. 31, 2018
Members' Capital [Abstract]
Distributions to Other Members	Distributions to the Other Members for the years ended December 31, 2018 and 2017 were as follows (in thousands except Units and per Unit data): 2018 2017 Distributions $ 2,054 $ 1,640 Weighted average number of Units outstanding 2,567,041 2,058,512 Weighted average distributions per Unit $ 0.80 $ 0.80

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2018
Fair Value Measurements [Abstract]
Fair Value, Warrants Measured on Recurring Basis	The following table reconciles the beginning and ending balances of the Company’s Level 3 recurring assets (in thousands): 2018 2017 Fair value of warrants at beginning of year $ 62 $ 51 Fair value of new warrants, recorded during the year (included as a discount on notes receivable) 224 — Unrealized gain on fair valuation of warrants 16 11 Fair value of warrants at end of year $ 302 $ 62
Summary of Valuation Techniques and Significant Unobservable Inputs Used	The following table summarizes the valuation techniques and significant unobservable inputs used for the Company’s recurring and non-recurring fair value calculation/adjustments categorized as Level 3 in the fair value hierarchy at December 31, 2018 and 2017: December 31, 2018 Valuation Valuation Unobservable Range of Name Frequency Technique Inputs Input Values Warrants Recurring Black-Scholes formulation Stock price $0.18 - $14.50 Exercise price $0.02 - $9.00 Time to maturity (in years) 7.63 - 12.95 Risk-free interest rate 2.61% - 2.74% Annualized volatility 34.20% - 292.35% December 31, 2017 Valuation Valuation Unobservable Range of Name Frequency Technique Inputs Input Values Warrants Recurring Black-Scholes formulation Stock price $3.88 - $4.59 Exercise price $2.54 - $3.98 Time to maturity (in years) 8.63 - 13.95 Risk-free interest rate 2.37% - 2.47% Annualized volatility 37.63% - 42.49%
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 December 31, 2018 and 2017 (in thousands): December 31, 2018 Carrying Amount Level 1 Level 2 Level 3 Total Financial assets: Cash and cash equivalents $ 6,484 $ 6,484 $ — $ — $ 6,484 Notes receivable, net 3,455 — — 3,370 3,370 Warrants, fair value 302 — — 302 302 Financial liabilities: Non-recourse debt 3,531 — — 3,539 3,539 December 31, 2017 Carrying Amount Level 1 Level 2 Level 3 Total Financial assets: Cash and cash equivalents $ 7,092 $ 7,092 $ — $ — $ 7,092 Notes receivable, net 1,794 — — 1,794 1,794 Warrants, fair value 62 — — 62 62

Organization and Limited Liab_2

Organization and Limited Liability Company Matters (Narrative) (Details) - USD ($)	12 Months Ended	24 Months Ended	44 Months Ended
	Dec. 31, 2018	Jan. 05, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Jul. 06, 2016	Feb. 02, 2016	Apr. 28, 2015
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Business activities, description	equipment financing and acquiring equipment to engage in equipment leasing and sales activities
Business formation date	Apr. 16, 2015
Business formation Date	California
Initial offering expiration period			2 years
Limited liability company, minimum required proceeds from initial offering		$ 150,000,000
Sale of limited liability Company Units, number of Units							120,000
Proceeds from sale of Limited Liability Company Units	$ 25,700,000		$ 25,700,000				$ 1,200,000
Reinvestment period			6 years
Minimum [Member]
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Amount of aggregate subscriptions for Pennsylvania subscriptions to be released to the Fund							$ 7,500,000
Contributions received, net of rescissions						$ 7,500,000
Other Members [Member]
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Members capital account, Units issued	2,565,749		2,565,749
Members capital account, Units outstanding	2,565,749		2,565,749	2,551,749	1,475,864
Initial Member [Member]
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Contributions of capital, initial								$ 500
Members capital account, Units issued	50		50

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Narrative) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)segment	Dec. 31, 2017USD ($)
Summary of Significant Accounting Policies [Line Items]
Equipment on operating leases, depreciation method	straight-line
Taxes on income and franchise fees	$ (5)	$ 7
Period subject to income tax examination	3 years
Number of operating segments | segment	1
Number of reportable segments | segment	1
Unrealized gain on fair value adjustment for warrants	$ 16	11
Warrants, fair value	302	$ 62
Minimum [Member]
Summary of Significant Accounting Policies [Line Items]
Required assets value of financial institutions for cash deposits	$ 10,000,000
Operating leases, initial terms	36 months
Notes receivable, period for non-accrual status	90 days
Operating leases, Period for non-accrual status	90 days
Maximum [Member]
Summary of Significant Accounting Policies [Line Items]
Treasury instruments maturity period	90 days
Cash deposits, insured amount	$ 250
Operating leases, initial terms	120 months
Notes receivable, period for review of impairment	90 days
Operating leases, period of review for impairment	90 days

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Schedule of Differences Between Book Value and Tax Basis of Net Assets) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Summary of Significant Accounting Policies [Abstract]
Financial statement basis of net assets	$ 16,621	$ 18,707	$ 11,696
Tax basis of net assets (unaudited)	16,525	20,689
Difference	$ 96	$ (1,982)

Summary of Significant Accoun_6

Summary of Significant Accounting Policies (Reconciliation of Net Income (Loss) Reported in Financial Statements and Federal Tax Return) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Summary of Significant Accounting Policies [Abstract]
Net loss per financial statements	$ (170)	$ (481)
Adjustment to depreciation expense	(2,049)	(1,550)
Provision for losses and doubtful accounts	(18)	18
Adjustments to revenues	(68)	50
Other	(5)	7
Loss per federal tax return (unaudited)	$ (2,310)	$ (1,956)

Concentration of Credit Risk _3

Concentration of Credit Risk and Major Customers (Schedule of Leasing and Lending Revenues) (Details)	12 Months Ended
	Dec. 31, 2018		Dec. 31, 2017
Transportation, Rail [Member] | Equipment Cost [Member]
Concentration Risk [Line Items]
Percentage of concentration risk	30.00%		33.00%
Transportation, Rail [Member] | Union Pacific Railroad Company [Member] | Operating Revenue [Member]
Concentration Risk [Line Items]
Percentage of concentration risk	22.00%		26.00%
Construction [Member] | Equipment Cost [Member]
Concentration Risk [Line Items]
Percentage of concentration risk	14.00%		12.00%
Agriculture [Member] | Equipment Cost [Member]
Concentration Risk [Line Items]
Percentage of concentration risk	11.00%		12.00%
Agriculture [Member] | Cargill, Inc. [Member] | Operating Revenue [Member]
Concentration Risk [Line Items]
Percentage of concentration risk	11.00%		16.00%
Mining [Member] | Aggregate Industries Management, Inc. [Member] | Operating Revenue [Member]
Concentration Risk [Line Items]
Percentage of concentration risk	11.00%			[1]
Marine Vessel [Member] | Indiana Michigan Power Company [Member] | Operating Revenue [Member]
Concentration Risk [Line Items]
Percentage of concentration risk		[1]	10.00%
Transportation, Air [Member] | Equipment Cost [Member]
Concentration Risk [Line Items]
Percentage of concentration risk	10.00%
Refuse Systems [Member] | Waste Management of New York, LLC [Member] | Operating Revenue [Member]
Concentration Risk [Line Items]
Percentage of concentration risk		[1]	10.00%
[1]	Less than 10%

Notes Receivable, Net (Narrativ

Notes Receivable, Net (Narrative) (Details)	12 Months Ended
	Dec. 31, 2018
Notes receivable, maturity date description	have maturity dates ranging from 2020 to 2022
Minimum [Member]
Notes receivable term	24 months
Notes receivable interest rate	11.55%
Maximum [Member]
Notes receivable term	42 months
Notes receivable interest rate	16.49%

Notes Receivable, Net (Minimum

Notes Receivable, Net (Minimum Future Payments Receivable) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Notes Receivable, Net [Abstract]
Year ending December 31, 2019	$ 2,376
2020	1,241
2021	493
2022	9
Financing receivable, gross	4,119
Less: portion representing unearned interest income	(496)	$ (359)
Notes receivable	3,623	1,813
Less: warrants - notes receivable discount	(178)
Unamortized initial direct costs	10
Notes receivable, net	$ 3,455	$ 1,794

Notes Receivable, Net (Initial

Notes Receivable, Net (Initial Direct Costs, Amortization Expense Related to Notes Receivable and Company's Operating and Direct Finance Leases) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Amortization of initial direct costs	$ 77	$ 58
Lease Assets [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Amortization of initial direct costs	66	54
Notes Receivable [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Amortization of initial direct costs	$ 11	$ 4

Investments in Equipment and Le

Investments in Equipment and Leases, Net (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Leases Disclosure [Line Items]
Amortization of initial direct costs	$ 77	$ 58
Depreciation of operating lease assets	$ 1,221	$ 931
Average estimated residual value of assets on operating leases	38.00%	39.00%
Initial direct costs, accumulated amortization	$ 148	$ 82
Lease Assets [Member]
Leases Disclosure [Line Items]
Amortization of initial direct costs	$ 66	$ 54

Investments in Equipment and _2

Investments in Equipment and Leases, Net (Investment in Leases) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Leases Disclosure [Line Items]
Balance December 31, 2017	$ 10,200
Additions	1,273
Depreciation/ Amortization Expense	(1,287)
Balance December 31, 2018	10,186
Initial direct costs, accumulated amortization	148	$ 82
Initial Direct Cost [Member]
Leases Disclosure [Line Items]
Balance December 31, 2017	230
Additions	21
Depreciation/ Amortization Expense	(66)
Balance December 31, 2018	185
Operating Leases [Member]
Leases Disclosure [Line Items]
Balance December 31, 2017	9,970
Additions	1,252
Depreciation/ Amortization Expense	(1,221)
Balance December 31, 2018	$ 10,001

Investments in Equipment and _3

Investments in Equipment and Leases, Net (Property on Operating Leases) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Property Subject to or Available for Operating Lease [Line Items]
Property on operating leases, gross	$ 12,464	$ 11,212
Less accumulated depreciation	(2,463)	(1,242)
Property on operating leases, net	10,001	9,970
Additions, gross	1,252
Additions, less accumulated depreciation	(1,221)
Additions, net	31
Reclassifications or dispositions, gross
Reclassifications or dispositions, less accumulated depreciation
Reclassifications or dispositions, net
Transportation, Rail [Member]
Property Subject to or Available for Operating Lease [Line Items]
Property on operating leases, gross	3,679	3,679
Additions, gross
Reclassifications or dispositions, gross
Mining [Member]
Property Subject to or Available for Operating Lease [Line Items]
Property on operating leases, gross	1,728	1,320
Additions, gross	408
Reclassifications or dispositions, gross
Construction [Member]
Property Subject to or Available for Operating Lease [Line Items]
Property on operating leases, gross	1,242	1,242
Additions, gross
Reclassifications or dispositions, gross
Paper Processing [Member]
Property Subject to or Available for Operating Lease [Line Items]
Property on operating leases, gross	1,058	1,058
Additions, gross
Reclassifications or dispositions, gross
Marine Vessel [Member]
Property Subject to or Available for Operating Lease [Line Items]
Property on operating leases, gross	1,041	1,041
Additions, gross
Reclassifications or dispositions, gross
Containers [Member]
Property Subject to or Available for Operating Lease [Line Items]
Property on operating leases, gross	860	860
Additions, gross
Reclassifications or dispositions, gross
Agriculture [Member]
Property Subject to or Available for Operating Lease [Line Items]
Property on operating leases, gross	742	742
Additions, gross
Reclassifications or dispositions, gross
Materials Handling [Member]
Property Subject to or Available for Operating Lease [Line Items]
Property on operating leases, gross	711	711
Additions, gross
Reclassifications or dispositions, gross
Aviation [Member]
Property Subject to or Available for Operating Lease [Line Items]
Property on operating leases, gross	1,306	462
Additions, gross	844
Reclassifications or dispositions, gross
Transportation, other [Member]
Property Subject to or Available for Operating Lease [Line Items]
Property on operating leases, gross	97	$ 97
Additions, gross
Reclassifications or dispositions, gross

Investments in Equipment and _4

Investments in Equipment and Leases, Net (Future Minimum Lease Payments Receivable) (Details) $ in Thousands	Dec. 31, 2018USD ($)
Investments in Equipment and Leases, Net [Abstract]
Year ending December 31, 2019	$ 1,776
2020	1,595
2021	1,110
2022	897
2023	842
2024 and thereafter	882
Operating leases, total	$ 7,102

Investments in Equipment and _5

Investments in Equipment and Leases, Net (Schedule of Useful Lives of Lease Assets) (Details)	12 Months Ended
	Dec. 31, 2018
Transportation, Rail [Member] | Minimum [Member]
Property Subject to or Available for Operating Lease [Line Items]
Useful lives of lease assets	35 years
Transportation, Rail [Member] | Maximum [Member]
Property Subject to or Available for Operating Lease [Line Items]
Useful lives of lease assets	50 years
Marine Vessel [Member] | Minimum [Member]
Property Subject to or Available for Operating Lease [Line Items]
Useful lives of lease assets	20 years
Marine Vessel [Member] | Maximum [Member]
Property Subject to or Available for Operating Lease [Line Items]
Useful lives of lease assets	30 years
Containers [Member] | Minimum [Member]
Property Subject to or Available for Operating Lease [Line Items]
Useful lives of lease assets	15 years
Containers [Member] | Maximum [Member]
Property Subject to or Available for Operating Lease [Line Items]
Useful lives of lease assets	20 years
Aviation [Member] | Minimum [Member]
Property Subject to or Available for Operating Lease [Line Items]
Useful lives of lease assets	15 years
Aviation [Member] | Maximum [Member]
Property Subject to or Available for Operating Lease [Line Items]
Useful lives of lease assets	20 years
Mining [Member] | Minimum [Member]
Property Subject to or Available for Operating Lease [Line Items]
Useful lives of lease assets	10 years
Mining [Member] | Maximum [Member]
Property Subject to or Available for Operating Lease [Line Items]
Useful lives of lease assets	15 years
Paper Processing [Member] | Minimum [Member]
Property Subject to or Available for Operating Lease [Line Items]
Useful lives of lease assets	10 years
Paper Processing [Member] | Maximum [Member]
Property Subject to or Available for Operating Lease [Line Items]
Useful lives of lease assets	15 years
Agriculture [Member] | Minimum [Member]
Property Subject to or Available for Operating Lease [Line Items]
Useful lives of lease assets	7 years
Agriculture [Member] | Maximum [Member]
Property Subject to or Available for Operating Lease [Line Items]
Useful lives of lease assets	10 years
Construction [Member] | Minimum [Member]
Property Subject to or Available for Operating Lease [Line Items]
Useful lives of lease assets	7 years
Construction [Member] | Maximum [Member]
Property Subject to or Available for Operating Lease [Line Items]
Useful lives of lease assets	10 years
Materials Handling [Member] | Minimum [Member]
Property Subject to or Available for Operating Lease [Line Items]
Useful lives of lease assets	7 years
Materials Handling [Member] | Maximum [Member]
Property Subject to or Available for Operating Lease [Line Items]
Useful lives of lease assets	10 years
Transportation [Member] | Minimum [Member]
Property Subject to or Available for Operating Lease [Line Items]
Useful lives of lease assets	7 years
Transportation [Member] | Maximum [Member]
Property Subject to or Available for Operating Lease [Line Items]
Useful lives of lease assets	10 years

Allowance for Credit Losses (Ac

Allowance for Credit Losses (Activity in Allowance for Doubtful Accounts) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Provision for credit losses	$ (18)	$ 18
Operating Leases [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning Balance	18
Provision for credit losses	$ (18)
Ending Balance		$ 18

Allowance for Credit Losses (Fi

Allowance for Credit Losses (Financing Receivables by Credit Quality Indicator and by Class) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Financing Receivable, Recorded Investment [Line Items]
Notes Receivable	$ 3,623	$ 1,813
Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Notes Receivable	3,623	1,813
Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Notes Receivable
Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Notes Receivable
Doubtful [Member]
Financing Receivable, Recorded Investment [Line Items]
Notes Receivable

Allowance for Credit Losses (Ne

Allowance for Credit Losses (Net Investment in Financing Receivables by Age) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due
Current	3,623	$ 1,813
Total Financing Receivables	3,623	1,813
Recorded Investment > 90 Days and Accruing
31-60 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due
61-90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due
Greater Than 90 Days [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	3,623	1,813
Total Financing Receivables	3,623	$ 1,813
Recorded Investment > 90 Days and Accruing
Notes Receivable [Member] | 31-60 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due
Notes Receivable [Member] | 61-90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due
Notes Receivable [Member] | Greater Than 90 Days [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	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Related Party Transactions [Abstract]
Selling commissions, equal to 9% of the selling price of the Limited Liability Company Units, deducted from Other Members capital	$ 31	$ 965
Reimbursement of other syndication costs to Managing Member and/or affiliates, deducted from Other Members capital	20	643
Special discounts		19
Administrative costs reimbursed to Managing Member and/or affiliates	421	280
Asset management fees to managing Member	268	167
Acquisition and initial direct costs paid to Managing Member	145	339
Related party transaction, total	$ 885	$ 2,413
Selling commission rate	9.00%	9.00%

Non-Recourse Debt (Narrative) (

Non-Recourse Debt (Narrative) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)
Debt Instrument [Line Items]
Gross operating lease rentals and future payments on direct financing leases	$ 3.8
Assets pledged as collateral	$ 5.8
Notes maturity date, description	The notes mature from 2020 through 2024
Minimum [Member]
Debt Instrument [Line Items]
Fixed interest rate on notes	3.72%
Maximum [Member]
Debt Instrument [Line Items]
Fixed interest rate on notes	4.66%

Non-Recourse Debt (Future Minim

Non-Recourse Debt (Future Minimum Payments of Non-Recourse Debt) (Details) $ in Thousands	Dec. 31, 2018USD ($)
Principal
Year ending December 31, 2019	$ 948
2020	846
2021	608
2022	455
2023	456
2024	218
Secured Debt, Total	3,531
Interest
Year ending December 31, 2019	125
2020	90
2021	59
2022	39
2023	19
2024	4
Long-term debt interest, total	336
Total
Year ending December 31, 2019	1,073
2020	936
2021	667
2022	494
2023	475
2024	222
Principal and interest, total	$ 3,867

Syndication Costs (Narrative) (

Syndication Costs (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Syndication Costs [Abstract]
Syndication costs excluding selling commissions to affiliates	$ 51	$ 1,608
Percentage of offering proceeds, limit on reimbursements to Managing Members and/or affiliates	15.00%

Borrowing Facilities (Narrative

Borrowing Facilities (Narrative) (Details) - Credit Facility [Member] - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Jun. 30, 2017
Line of Credit Facility [Line Items]
Maximum amount of Credit Facility	$ 75		$ 75
Line of Credit Facility, expiration date	Jun. 30, 2019
Credit facility, Interest rate description	The interest rate on the Credit Facility is based on either the LIBOR/Eurocurrency rate of 1-, 2-, 3- or 6-month maturity plus a lender designated spread, or the bank's Prime rate, which re-prices daily
Credit facility, remaining borrowing capacity	$ 72.9	$ 69.2
Outstanding borrowings under the facility	$ 0

Commitments (Narrative) (Detail

Commitments (Narrative) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)
Commitments [Abstract]
Commitments to purchase lease assets	$ 0

Members' Capital (Narrative) (D

Members' Capital (Narrative) (Details) - shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Members Capital Account [Line Items]
Potential repurchase price of Units as percentage of holder's capital account	100.00%
Allocation of net income and net loss	100.00%
Other Members [Member]
Members Capital Account [Line Items]
Members capital account, Units issued	2,565,749
Members capital account, Units outstanding	2,565,749	2,551,749	1,475,864
Percentage of fund distributions	99.99%
Other Members [Member] | After Initial Closing Date [Member]
Members Capital Account [Line Items]
Allocation of net income and net loss	99.99%
Managing Member [Member]
Members Capital Account [Line Items]
Allocation of net income and net loss	0.01%
Managing Member [Member] | Until Initial Closing Date [Member]
Members Capital Account [Line Items]
Allocation of net income and net loss	99.00%
Managing Member [Member] | After Initial Closing Date [Member]
Members Capital Account [Line Items]
Percentage of fund distributions	0.01%
Initial Member [Member]
Members Capital Account [Line Items]
Members capital account, Units issued	50
Initial Member [Member] | Until Initial Closing Date [Member]
Members Capital Account [Line Items]
Allocation of net income and net loss	1.00%
Maximum [Member] | Other Members [Member]
Members Capital Account [Line Items]
Members capital account, units authorized	15,000,000

Members' Capital (Distributions

Members' Capital (Distributions to Other Members) (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Members' Capital [Abstract]
Distributions	$ 2,054	$ 1,640
Weighted average number of Units outstanding	2,567,041	2,058,512
Weighted average distributions per Unit	$ 0.80	$ 0.80

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Fair Value Measurements [Abstract]
Warrants, fair value	$ 302	$ 62

Fair Value Measurements (Fair V

Fair Value Measurements (Fair Value, Warrants Measured on Recurring Basis) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Fair value of warrants at beginning of year	$ 62
Unrealized gain on fair value adjustment for warrants	16	$ 11
Fair value of warrants at end of year	302	62
Fair Value, Inputs, Level 3 [Member]
Fair value of warrants at beginning of year	62	51
Fair value of new warrants, recorded during the year (included as a discount on notes receivable)	224
Unrealized gain on fair value adjustment for warrants	16	11
Fair value of warrants at end of year	$ 302	$ 62

Fair Value Measurements (Summar

Fair Value Measurements (Summary of Valuation Techniques and Significant Unobservable Inputs Used) (Details) - Fair Value, Inputs, Level 3 [Member] - Recurring [Member] - Warrant [Member] - Black Scholes Formulation [Member]	Dec. 31, 2018$ / sharesUSD ($)	Dec. 31, 2017$ / sharesUSD ($)
Minimum [Member] | Unobservable Inputs, Stock Price [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Warrants, Range of Input Values | $ / shares	0.18	3.88
Minimum [Member] | Unobservable Inputs, Exercise Price [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Warrants, Range of Input Values	0.02	2.54
Minimum [Member] | Unobservable Inputs, Time to Maturity (in years) [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Warrants, Range of Input Values	7.63	8.63
Minimum [Member] | Unobservable Inputs, Risk Free Interest Rate [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Warrants, Range of Input Values	0.0261	0.0237
Minimum [Member] | Unobservable Inputs, Annualized Volatility [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Warrants, Range of Input Values	0.3420	0.3763
Maximum [Member] | Unobservable Inputs, Stock Price [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Warrants, Range of Input Values | $ / shares	14.50	4.59
Maximum [Member] | Unobservable Inputs, Exercise Price [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Warrants, Range of Input Values	9	3.98
Maximum [Member] | Unobservable Inputs, Time to Maturity (in years) [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Warrants, Range of Input Values	12.95	13.95
Maximum [Member] | Unobservable Inputs, Risk Free Interest Rate [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Warrants, Range of Input Values	0.0274	0.0247
Maximum [Member] | Unobservable Inputs, Annualized Volatility [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Warrants, Range of Input Values	2.9235	0.4249

Fair Value Measurements (Estima

Fair Value Measurements (Estimated Fair Values of Financial Instruments) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Financial assets:
Cash and cash equivalents	$ 6,484	$ 7,092
Notes receivable, net	3,370	1,794
Warrants, fair value	302	62
Carrying Amount [Member]
Financial assets:
Cash and cash equivalents	6,484	7,092
Notes receivable, net	3,455	1,794
Warrants, fair value	302	62
Fair Value, Inputs, Level 1 [Member]
Financial assets:
Cash and cash equivalents	6,484	7,092
Fair Value, Inputs, Level 3 [Member]
Financial assets:
Notes receivable, net	3,370	1,794
Warrants, fair value	$ 302	$ 62	$ 51