MONTHLY SERVICER REPORT Page: 1
Issuer: GREATAMERICA LEASING RECEIVABLES 2002-1, L.L.C.
Seller and Servicer: GreatAmerica Leasing Corporation
Distribution Date 4/15/02
PAYMENT SUMMARY
Class Beginning Pass Through Interest Principal Total Ending
Name CUSIP Balance Rate Paid Paid Distribution Balance
A-1 39153QAA3 51,698,228.49 2.25794000% 58,365.75 5,995,223.53 6,053,589.28 45,703,004.96
A-2 391533QAC9 38,294,984.07 3.36000000% 64,335.57 - 64,335.57 38,294,984.07
A-3 39153QAD7 84,887,214.69 4.47000000% 189,722.92 - 189,722.92 84,887,214.69
A-4 39153QAE5 37,529,084.39 5.10000000% 95,699.17 - 95,699.17 37,529,084.39
B 39153QAF2 10,722,595.54 4.60000000% 24,661.97 302,643.50 327,305.47 10,419,952.04
C 39153QAG0 10,850,245.49 4.91000000% 26,637.35 306,246.39 332,883.75 10,543,999.09
D 39153QAH8 13,658,544.32 5.55000000% 37,902.46 385,510.17 423,412.63 13,273,034.15
Totals 247,640,896.97 497,325.20 6,989,623.59 7,486,948.79 240,651,273.38
Target
(defined) Investor
Class Principal
Class Percentage Amount
AGGSNR 83.2000% 206,414,288.10
B 4.2000% 10,419,952.04
C 4.2500% 10,543,999.09
D 5.3500% 13,273,034.15
(Retained) Certificate Balance 7,442,822.89
% of Agg. Collateral Value, beginning 2.9153%
% of Agg. Collateral Value, ending 3.0000%
Monthly Principal Amount 7,205,797.52
Additional Principal -
Overcollateralization Balance, beginning 7,658,996.82
Overcollateralization Balance, ending 7,442,822.89
Cumulative Loss Amount -
MONTHLY SERVICER REPORT
Issuer: GREATAMERICA LEASING RECEIVABLES 2002-1, L.L.C.
Seller and Servicer: GreatAmerica Leasing Corporation
Distribution Date 4/15/02
OTHER INFORMATION
AGGEGATE COLLATERAL VALUE (Discount Rate = 5.299%)
Initial Aggregate Discounted Contract Balance 255,299,893.79
Aggregate Discounted Contract Balance, beginning 255,299,893.79
Aggregate Discounted Contract Balance, ending 248,094,096.27
RESIDUAL ACCOUNT
Residual Account Balance, beginning -
Residual Account Balance, ending -
SERVICER ADVANCES
Cumulative un-reimbursed Servicer Advances, beginning -
Unreimbursed Servicer Advances collected -
Servicer Advances for the current Due Period 634,391.52
Non-recoverable Unreimbursed Servicer Advances -
Cumulative un-reimbursed Servicer Advances, ending 634,391.52
PAYAHEAD ACCOUNT
Advance Payment Balance, beginning -
Pymts rec'd in prior periods attributable to current Due Period -
Pymts attributable to future Due Periods 2,534,385.66
Advance Payment Balance, ending 2,534,385.66
SUBSTITUTIONS
Defaulted Leases and Excess Contracts Substituted to date, beginning -
Defaulted Leases and Excess Contracts Substituted this month 29,101.42
Defaulted Leases and Excess Contracts Substituted to date, ending 29,101.42
Total Substitutions for Defaults to Date 0.01%
Prepaid Contracts Substituted to date, beginning -
Prepaid Contracts Substituted this month 330,713.42
Prepaid Contracts Substituted to date, ending 330,713.42
RESERVE FUND
Reserve Account Balance, beginning 2,552,998.94
Required Reserve Amount 3,721,411.44
Required Draw to Increase Available Funds -
Reserve Fund Deficiency covered by Excess Available Funds 825,560.48
Excess Reserve Funds released to Waterfall -
Reserve Account Balance, ending 3,378,559.42
MONTHLY SERVICER REPORT Page: 3
Issuer: GREATAMERICA LEASING RECEIVABLES 2002-1, L.L.C.
Seller and Servicer: GreatAmerica Leasing Corporation
Distribution Date 4/15/02
OTHER INFORMATION (continued)
AVAILABLE FUNDS (COLLECTION ACCOUNT)
Scheduled Payments Received 10,163,158.65
Reinv. From Collections, Payahead, Residual, and Reserve Accounts 1,832.45
Past due payments received -
Past due payments due on Early Termination (from Seller) -
Proceeds from Prepayments 148,568.52
Recoveries on Non-Performing Leases not Substituted -
Servicer Advances 634,391.52
Casualty and Termination Payments -
Expired Contract Proceeds -
Repurchase of Ineligible Contracts -
Defaulted Contract Recoveries -
Net increase (decrease) in Advance Lease Payments Balance (2,534,385.66)
Excess Reserve Funds -
Total Available Funds 8,413,565.48
DISTRIBUTION OF FUNDS
Pursuant to Section 7.05(a) of the Sale and Servicing Agreement
Available Funds 8,413,565.48
Reserve Fund Draw to Increase Available Funds -
(i) To the Servicer, Unreimbursed Servicer Advances -
(ii) Back Up Servicer Fee (2.5 bp) 5,318.75
(iii) To the Servicer, Servicing Fee (75 bp) 95,737.46
(vi)-(ix) Note Interest Paid 497,325.20
(x)-(xvi) Note Principal Paid 6,989,623.59
(xviii) Reserve Fund Deposit 825,560.48
(xxi) Remainder to the Issuer -
DELINQUENCY AND LOSS INFORMATION
Number of Ending Contract
Contracts Balance Remain Percentage
Current 25,425 264,656,555.00 99.60%
31 - 60 days 91 727,785.25 0.27%
61 - 90 days 37 320,561.30 0.12%
91 - 120 days 2 18,962.15 0.01%
Current Current Current Cumulative Cumulative
Losses Recoveries Net Loss Gross Loss Net Loss
------ ---------- -------- ----------- --------
11,241.21 - 11,241.21 11,241.21 11,241.21
RESIDUAL EVENT TRIGGERS
Average of Current Prior 2nd Prior
Last 3 Months Due Period Due Period Due Period
------------- ---------- ---------- ----------
Residual Realization Percentage (Trigger < 85.00%) 0.00% 135.58% 0.00% 0.00%
Delinquency Percentage (Trigger > 6.00%) 0.00% 0.40% 0.00% 0.00%
Cumulative Net Loss Percentage (Triggers below) 0.0044% 0.00% 0.00%
Collection Periods 1-12 3.40%
Collection Periods 13-24 5.00%
Collection Periods 25+ 6.40%
Residual Event? No
The undersigned officer of the Servicer hereby certifies that the information
contained in this Monthly Servicer Report is true and accurate in all respects;
and that no Servicer Default or event that with notice or lapse of time or both
would become a Servicer Default, has occurred.
GreatAmerica Leasing Corporation, as Servicer
By:__/s/Brett Steffen____________________________________________
Brett Steffen
Assistant Controller