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ASSET-BACKED FINANCING FACILITY
ADVANTA BUSINESS SERVICES CORP., AS SERVICER
MONTHLY SERVICER CERTIFICATE
COLLECTION PERIOD: July 1, 2000 - July 31, 2000
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SETTLEMENT DATE: 15-Aug-00
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A. SERIES INFORMATION
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ADVANTA LEASING RECEIVABLES CORP. IV AND
ADVANTA LEASING RECEIVABLES CORP. V
EQUIPMENT RECEIVABLES ASSET-BACKED NOTES,
SERIES 1998-1
I. SERIES INFORMATION INCLUDING PLEDGED PROPERTY CONVEYED
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(a.) Beginning Aggregate Contract Principal Balance ("ACPB").. . . . . . . . . . . $ 138,938,412.66
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(b.) Contract Principal Balance of all Collections allocable to Contracts . . . . . $ 8,444,048.95
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(c.) Contract Principal Balance of Charged-Off Contracts .. . . . . . . . . . . . . $ 562,961.08
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(d.) Total decline in Principal Balance . . . . . . . . . . . . . . . . . . . . . . $ 9,007,010.03
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(e.) Ending Aggregate Contract Principal Balance of all Contracts as of this
Settlement Date. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 129,931,402.63
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BALANCES ON THIS SETTLEMENT DATE AFTER PAYMENT ON THE RELATED PAYMENT DATE
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(f.) Class A Principal Balance as of this Settlement Date . . . . . . . . . . . . . $ 114,755,321.77
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(Class A Note Factor). . . . . . . . . . . . . . . . . 0.3464835
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(g1.) Class A-1 Principal Balance .(Note Factor) . . . . . . 0.0000000 -
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(g2.) Class A-2 Principal Balance . (Note Factor). . . . . . 0.2397649 $ 45,555,321.77
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(g3.) Class A-3 Principal Balance . (Note Factor). . . . . . 1.0000000 $ 23,300,000.00
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(g4.) Class A-4 Principal Balance . (Note Factor). . . . . . 1.0000000 $ 45,900,000.00
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(h.) Class B Principal Balance as of this Settlement Date . . . . . . . . . . . . . $ 5,651,070.22
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(Class B Note Factor) 0.2983985
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(i.) Class C Principal Balance as of this Settlement Date . . . . . . . . . . . . . . $ -
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(Class C Note Factor) 0.0000000
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(l.) Class D Principal Balance as of this Settlement Date . . . . . . . . . . . . . . $ 9,525,010.64
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(Class D Note Factor) 0.6349878
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II. COMPLIANCE RATIOS
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(a.) Aggregate Contract Balance Remaining ("CBR") of all Contracts as of the
related Calculation Date . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 140,033,287.73
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(b1.) % of CBR 31 days or more delinquent as of the related Calculation Date . . . . . 7.15%
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(b2.) Preceeding Month %: Jun-00 . . . . . . . . . . . . . . 7.50%
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(b3.) 2nd Preceeding Month %: May-00 . . . . . . . . . . . . . . 8.07%
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(b4.) Three month rolling average % of CBR 31 days or more delinquent. . . . . . . . . . . . . . . . . . 7.57%
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(c.) Does the three month rolling average % of CBR which are 31 days or more
delinquent exceed 10.5% ? . Y or N. NO
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(Amortization Period Only)
(d) Cumulative Net Loss Percentage as of the related Collection Period . . . . . . . 2.69%
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Does the Cumulative Net Loss Percentage exceed
(d1.) 4.0 % from the Beginning Period to and including 12th Collection
Period ? Y or N . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . N/A
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(d2.) 5.5 % from 13th Collection Period to and including 24th Collection
Period ? Y or N. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . NO
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(d3.) 7.0 % from 25th Collection Period and thereafter ? Y or N . . . . . . . . . . . N/A
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(If Yes to e1 or e2 or e3, then a Residual Event occurs)
(e1.) Residual Realization for the related Collection Period > 100% (YES/NO) . . . . . . . . . . . . . . YES
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(e2.) Preceeding Month: Jun-00 > 100% (YES/NO). . . . . . . YES
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(e3.) 2nd Preceeding Month: May-00 > 100% (YES/NO). . . . . . . YES
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(e4.) Three month rolling average Residual Realization Ratio > 100% (YES/NO) . . . . . . . . . . . . . . YES
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(If less than 100%, then a Residual Event Occurs)
III. FLOW OF FUNDS
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The amount of available funds on deposit in the Series 1998-1 Facility Account . . . . . . . . . . $ 10,500,140.09
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(1) On the Payment Date which is also the Amortization Date and each Payment Date thereafter
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(a.) To the Servicer, Unrecoverable Servicer Advances . . . . . . . . . . . . . . . . 140,431.87
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(b.) To the Servicer, if ABS is not the Servicer, Servicing Fee and Ancillary
Servicing Income, if any . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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To Series 1998-1 Noteholders:
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(c.) To Class A, the total Class A Note Interest and Class A Overdue Interest
for the related period . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 603,400.82
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Interest on Class A-1 Notes . . . . . . . . . . . . . . . . . . . . . . . . $ -
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Interest on Class A-2 Notes . . . . . . . . . . . . . . . . . . . . . . . . $ 259,524.99
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Interest on Class A-3 Notes . . . . . . . . . . . . . . . . . . . . . . . . $ 115,140.83
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Interest on Class A-4 Notes . . . . . . . . . . . . . . . . . . . . . . . . $ 228,735.00
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(d.) Interest on Class B Notes for the related period . . . . . . . . . . . . . . . . $ 34,074.07
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(e.) Interest on Class C Notes for the related period. . . . . . .. . . . . . . . . . $ -
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(f.) To Series 1998-1 Noteholders:
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To Class A, the total Principal Payment and Class A Overdue Principal, if any. . 7,954,984.81
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Principal Payment to Class A-1 Noteholders. . . . . . . . . . . . . . . . . N/A
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Principal Payment to Class A-2 Noteholders. . . . . . . . . . . . . . . . . $ 7,954,984.81
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Principal Payment to Class A-3 Noteholders. . . . . . . . . . . . . . . . . N/A
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Principal Payment to Class A-4 Noteholders. . . . . . . . . . . . . . . . . N/A
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To Class B for Principal Payment and Overdue Principal, if any . . . . . . . . . 1,052,025.22
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To Class C for Principal Payment and Overdue Principal, if any . . . . . . . . . -
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(g) Overdue Principal (included in the Principal Payments per above, if any):
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To Class A, total for Overdue Principal. . . . . . . . . . . . . . . . . . . . . N/A
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Overdue Principal to Class A-1 N/A
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Overdue Principal to Class A-2 N/A
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Overdue Principal to Class A-3 N/A
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Overdue Principal to Class A-4 N/A
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To Class B for Overdue Principal . . . . . . . . . . . . . . . . . . . . . . . . N/A
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To Class C for Overdue Principal . . . . . . . . . . . . . . . . . . . . . . . . N/A
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(h1.) Until the Reserve Account Funding Date:
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To the Reserve Account, the amount equal to the Servicing Fee otherwise payable to ABS. . . . . . N/A
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(h2.) After the Reserve Account Funding Date:
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To the Servicer, ABS, the Servicing Fee plus Ancillary Servicing Income, if any. . . . . .. . . . 115,782.01
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(i.) To the Reserve Account, the amount needed to increase the amount on deposit in the
Reserve Account to the Required Reserve Amount for such Payment Date. . . . . . . . . . . . . . . N/A
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(j.) Upon the occurrence of a Residual Event the lesser of:
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(j1.) (A) the Available Funds remaining on deposit in the Facility Account and . . . . N/A
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(j2.) (B) the aggregate amount of Residual Receipts included in Available Funds. . . . N/A
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(j3.) To be deposited to the Residual Account . . . . . . . . . . . . . . . . . . . . . . . . . . . . . N/A
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(k.) To Class D Noteholders for Principal Payment . . . . . . . .. . . . . . . . . . . . . . . . . . . -
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(l.) To Class D Noteholders for Overdue Principal, if any . . . . . . . . . . . . . . N/A
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(3) To ABS, the Servicing Fee previously due, but deposited to the Reserve Account . . . . .. . . . . $ -
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(4) To the Trustee to Fund the Servicer Conversion Expense Account. . . . . . . . . . . . . . . . . . $ 100,000.00
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(5) To the Series Obligors, as holders of the Residual Interest, any Available
Funds remaining on deposit in the Facility Account. . . . . . . . . . . . . . . . . . . . . . . . $ 499,441.29
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IV. SERVICER ADVANCES
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(a.) Aggregate amount of Servicer Advances at the beginning of the related
Collection Period. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,567,589.43
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(b.) Servicer Advances reimbursed during the related Collection Period. . . . . . . . 81,304.10
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(c.) Amount of unreimbursed Servicer Advances to be reimbursed on the Settlement
Date . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 140,431.87
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(d.) Servicer Advances made during the related Collection Period. . . . . . . . . . .
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(e.) Aggregate amount of Servicer Advances at the end of the Collection Period. . . . $ 2,345,853.46
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V. RESERVE ACCOUNT
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(a.) Amount on deposit at the beginning of the related Collection Period. . . . . . . $ 4,205,935.57
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(b.) Amounts used to cover shortfalls, if any, for the related Collection Period. . . . . . . . . . . $ -
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(c.) Amounts transferred from the Facility Account, if applicable. . . . . . . . . . . . . . . . . . . $ -
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(d.) Interest earned on Reserve Balance . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . $ 23,138.66
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(e.) Reserve Account Ending Balance before calculating Required Reserve Amount . . . . . . . . . . . . $ 4,229,074.23
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(f.) Required Reserve Amount needed as of the related Collection Period. . . . . . . . . . . . . . . . $ 3,913,207.74
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(g1.) If (f) is greater than (e), then amount of shortfall . . . . . . . . . .. . . . . . . . . . . . . 0.00
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(g2.) If (e) is greater than (f), then excess amount to be transferred to the Series Obligors . . . . . 315,866.49
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(h.) Amounts on deposit as of this Settlement Date (e minus g2). . . . . . . . . . . . . . . . . . . . $ 3,913,207.74
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VI. RESIDUAL ACCOUNT
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(a.) Amount on deposit at the beginning of the related Collection Period . . . . . . . . . . . . . . . 0.00
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(b.) Amounts transferred from the Facility Account . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
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(c.) Amounts used to cover shortfalls for the related Collection Period . . . .. . . . . . . . . . . . 0.00
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(d.) Amount on deposit as of this Settlement Date. . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
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VII. ADDITIONAL PROPERTY FUNDING ACCOUNT
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(a.) Amount on deposit at the beginning of the related Collection Period. . . . . . . . . . . . . . . 0.00
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(b.) Amounts transferred from the Facility Account. . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
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(c.) Amounts transferred to the Series Obligors . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
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(d.) Amount on deposit as of this Settlement Date . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
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VIII. ADVANCE PAYMENTS
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(a.) Beginning aggregate Advance Payments. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2,141,858.07
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(b.) Amount of Advance Payments collected during the related Collection Period . . . . . . . . . . . . $ 1,462,407.19
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(c.) Investment earnings for the related Collection Period . . . . . . . . . . . . . . . . . . . . . . $ 14,236.15
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(d.) Amount of Advance Payments withdrawn for deposit into Facility Account. . . . . . . . . . . . . . $ 1,614,934.90
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(e.) Ending aggregate Advance Payments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2,003,566.51
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ADVANTA BUSINESS SERVICES CORP., AS SERVICER
BY: /s/ John Paris
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TITLE: SR VP
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DATE: 08/10/00
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