ASSET-BACKED FINANCING FACILITY
ADVANTA BUSINESS SERVICES CORP., AS SERVICER
MONTHLY SERVICER CERTIFICATE
COLLECTION PERIOD: October 1, 2001 - October 31, 2001
SETTLEMENT DATE: 15-Nov-01
A. SERIES INFORMATION
ADVANTA LEASING RECEIVABLES CORP. VIII AND
ADVANTA LEASING RECEIVABLES CORP. IX
EQUIPMENT RECEIVABLES ASSET-BACKED NOTES,
SERIES 1999-1
I. SERIES INFORMATION INCLUDING PLEDGED PROPERTY CONVEYED
(a.) Beginning Aggregate Contract Principal Balance ........................................... $ 14,615,403.72
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(b.) Contract Principal Balance of all Collections allocable to Contracts ..................... $ 1,163,297.45
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(c.) Contract Principal Balance of Charged-Off Contracts ...................................... $ 77,963.76
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(e.) Ending Aggregate Contract Principal Balance of all Contracts as of this Settlement Date .. $ 13,374,142.51
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BALANCES ON THIS SETTLEMENT DATE
(d.) Class A Principal Balance as of this
Settlement Date (Class A Note Factor) 0.1089119 $ 10,768,790.32
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(e1.) Ending Class A-1 Principal Balance 0.0000000 $ -
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(e2.) Ending Class A-2 Principal Balance 0.0343649 $ 1,323,082.32
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(e3.) Ending Class A-3 Principal Balance 1.0000000 $ 9,445,708.00
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(f.) Ending Class B Principal Balance as of this
Settlement Date (Class B Note Factor) 0.2245995 $ 2,605,352.20
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II. COMPLIANCE RATIOS
(a.) Aggregate Contract Balance Remaining ("CBR") of all Contracts ............................ $ 14,331,554.99
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(b.) CBR of Contracts 1 - 30 days delinquent .................................................. $ 1,672,386.21
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(c.) % of Delinquent Contracts 1- 30 days as of the related Calculation Date ................. 11.67%
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(d.) CBR of Contracts 31 - 60 days delinquent ................................................. $ 795,837.92
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(e.) % of Delinquent Contracts 31 - 60 days as of the related Calculation Date ............... 5.55%
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(f.) CBR of Contracts 61 - 90 days delinquent ................................................. $ 376,110.30
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(g.) % of Delinquent Contracts 61 - 90 days as of the related Calculation Date ............... 2.62%
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(h.) CBR of Contracts > 91 days delinquent .................................................... $ 217,391.14
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(i.) % of Delinquent Contracts > 91 days as of the related Calculation Date .................. 1.52%
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(j1.) % of Delinquent Contracts 31 days or more as of the related Calculation Date ............. 9.69%
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(j2.) Month 2: Sep-01 .................................................................. 9.10%
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(j3.) Month 3: Aug-01 .................................................................. 8.49%
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(j4.) Three month rolling average % of Delinquent Contracts 31 days or more .................... 9.09%
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(k1.) Net Charge-Off % for the related Collection Period (annualized 30/360) ................... 0.00%
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(k2.) Month 2: Sep-01 ................................................................. 0.00%
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(k3.) Month 3: Aug-01 ................................................................. 0.00%
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(k4.) Three month rolling average % for Defaulted Contracts 0.00%
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*Note: Current Month Net Charge-off % is negative .9769% reported as zero
(October, 2001)
Does the Cumulative Loss % exceed .........................................................
(l1.) The Loss Trigger Level % from Beginning Period to and including 12th
Collection Period ? Y or N ............................................................... n/a
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(l2.) The Loss Trigger Level % from 13th Collection Period to and including 24th
Collection Period ? Y or N ............................................................... n/a
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(l3.) The Loss Trigger Level % from 25th Collection Period and thereafter ? Y or N ........... NO
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(m1.) Residual Realization for the related Collection Period .................................... 132.31%
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(m2.) Month 2: Sep-01 ................................................................... 127.38%
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(m3.) Month 3: Aug-01 ................................................................... 125.53%
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(m4.) Three month rolling average Residual Realization Ratio .................................... 128.41%
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(n.) Does the three month rolling Residual Realization ratio exceed 100% Y or N ............. YES
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III. FLOW OF FUNDS
(1.) The amount on deposit in Available Funds ......................................................... $ 1,810,793.43
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(2.) The prepayment amounts deposited, if any, by the Issuers' to the
Collection Account for removal of defaulted contracts ............................................ $ -
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(3.) Total deposits in the Collection Account to be used as available funds on this
Payment Date ..................................................................................... $ 1,810,793.43
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(a.) To the Servicer, Unrecoverable Servicer Advances / Initial Unpaid Balance ........................ $ 34,543.57
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(b.) To the Servicer, the Servicing Fee and miscellaneous amounts, if any ............................. $ 12,179.50
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To Series 1999-1 Noteholders:
(c.) To Class A, the total Class A Note Interest and Class A Overdue Interest for the related period .. $ 67,164.21
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Interest on Class A-1 Notes ................ $ -
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Interest on Class A-2 Notes ................. $ 12,851.38
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Interest on Class A-3 Notes ................. $ 54,312.82
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(d.) Interest on Class B Notes for the related period ................................................. $ 17,249.02
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(e.) To Series 1999-1 Noteholders:
To Class A, the total applicable Principal Payment ............................................... $ 999,457.07
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Principal Payment to Class A-1 Noteholders ... $ -
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Principal Payment to Class A-2 Noteholders ... $999,457.07
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Principal Payment to Class A-3 Noteholders ... $ -
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To Class B for applicable Principal Payment to the extent of the
Class B Floor .................................................................................... $ 241,804.14
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(f.) To the Reserve Account:
The amount needed to increase the amount in the Reserve Account to the Required Reserve .......... $ -
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(g.) Upon the occurrence of a Residual Event the lesser of:
(A) the remaining Available Funds and ............................ $ -
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(B) the aggregate amount of Residual
Receipts included in Available Funds ......................... $ -
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To be deposited to the Residual Account .......................................................... $ -
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(h.) To the Issuers, as owner of the Pledged Assets, any remaining
Available Funds on deposit in the Collection Account (the
"Issuers' Interest") ............................................................................. $ 438,395.92
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IV. SERVICER ADVANCES
(a.) Aggregate amount of Servicer Advances at the beginning of the Collection Period .................. $ 459,089.54
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(b.) Servicer Advances reimbursed during the Collection Period ........................................ $ 23,260.70
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(c.) Amount of unreimbursed Service Advances to be reimbursed on the
Settlement Date .................................................................................. $ 34,543.57
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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 ........................................................................................... $ 401,285.27
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(f.) Amount of delinquent Scheduled Payments for which Servicer Advances
were not made .................................................................................... $ -
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V. RESERVE ACCOUNT
(a.) Amount on deposit at the beginning of the related Collection Period .............................. $ 1,104,761.18
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(b.) Amount of interest earnings reinvested for the related Monthly Period ............................ $ 2,664.01
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(c.) Amounts used to cover shortfalls, if any, for the related Collection Period ..................... $ -
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(d.) Amounts transferred from the Collection Account, if applicable ................................... $ -
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(e.) Balance remaining before calculating Required Reserve Amount ..................................... $ 1,107,425.19
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(f.) Required Reserve Amount needed as of the related Collection Period ............................... $ 1,104,761.18
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(g1.) If (e) above is greater than (f), then excess amount to be transferred to the Series Obligors .... $ 2,664.01
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(g2.) If (e) is greater than (d), then amount of shortfall .............................................
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(h.) Amounts on deposit at the end of the related Collection Period (e minus g1) ...................... $ 1,104,761.18
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(i.) Is the Required Reserve Amount equal to the balance in the Reserve Account
as of the related Collection period ? Y or N ..................................................... YES
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VI. RESIDUAL ACCOUNT
(a.) Amount on deposit at the beginning of the related Collection Period .............................. $ -
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(b.) Amounts transferred from the Collection Account .................................................. $ -
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(c.) Amounts used to cover shortfalls for the related Collection Period ............................... $ -
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(d.) Amount on deposit at the end of the related Collection Period .................................... $ -
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VII. ADVANCE PAYMENTS
(a.) Beginning aggregate Advance Payments $ 216,884.85
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(b.) Add: Amount of Advance Payments collected during the related Collection Period $ 152,177.38
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(c.) Add: Investment earnings for the related Collection Period $ -
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(d.) Less: Amount of Advance Payments withdrawn for deposit into Facility Account $ 139,011.98
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(e.) Ending aggregate Advance Payments $ 230,050.25
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ADVANTA BUSINESS SERVICES CORP., as Servicer
By: /s/ Mark Shapiro
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Title: Asst. Treasurer
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Date: 11/09/01
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