ASSET-BACKED FINANCING FACILITY
ADVANTA BUSINESS SERVICES CORP., AS SERVICER
MONTHLY SERVICER CERTIFICATE
COLLECTION PERIOD: April 1, 2002 - April 30, 2002
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SETTLEMENT DATE: 15-May-02
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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 ......................... $ 8,193,578.67
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(b.) Contract Principal Balance of all Collections allocable to Contracts ... $ 760,651.96
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(c.) Contract Principal Balance of Charged-Off Contracts .................... $ 37,774.49
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(e.) Ending Aggregate Contract Principal Balance of all Contracts as of
this Settlement Date ................................................... $ 7,395,152.22
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BALANCES ON THIS SETTLEMENT DATE
(d.) Class A Principal Balance as of this
Settlement Date (Class A Note Factor) .................. 0.0538424 $ 5,323,725.02
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(e1.) Ending Class A-1 Principal Balance ..................... 0.0000000 $ --
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(e2.) Ending Class A-2 Principal Balance ..................... 0.0000000 $ --
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(e3.) Ending Class A-3 Principal Balance ..................... 0.5636131 $ 5,323,725.02
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(f.) Ending Class B Principal Balance as of this
Settlement Date (Class B Note Factor) .................. 0.1785714 $ 2,071,427.21
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II. COMPLIANCE RATIOS
(a.) Aggregate Contract Balance Remaining ("CBR") of all
Contracts .............................................................. $ 7,814,852.44
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(b.) CBR of Contracts 1 - 30 days delinquent ................................ $ 761,553.87
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(c.) % of Delinquent Contracts 1 - 30 days as of the related
Calculation Date ....................................................... 9.75%
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(d.) CBR of Contracts 31 - 60 days delinquent ............................... $ 384,078.08
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(e.) % of Delinquent Contracts 31 - 60 days as of the related
Calculation Date ....................................................... 4.91%
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(f.) CBR of Contracts 61 - 90 days delinquent ............................... $ 158,854.97
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(g.) % of Delinquent Contracts 61 - 90 days as of the related
Calculation Date ....................................................... 2.03%
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(h.) CBR of Contracts > 91 days delinquent .................................. $ 105,750.74
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(i.) % of Delinquent Contracts > 91 days as of the related
Calculation Date ....................................................... 1.35%
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(j1.) % of Delinquent Contracts 31 days or more as of the related
Calculation Date ....................................................... 8.30%
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(j2.) Month 2: ............................................... Mar-02 8.96%
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(j3.) Month 3: ............................................... Feb-02 9.07%
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(j4.) Three month rolling average % of Delinquent Contracts 31 days or
more ................................................................... 8.78%
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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: ............................................... Mar-02 0.00%
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(k3.) Month 3: ............................................... Feb-02 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 3.3799% reported
as zero (April, 2002)
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 ................. 137.67%
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(m2.) Month 2: ............................................... Mar-02 130.87%
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(m3.) Month 3: ............................................... Feb-02 131.92%
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(m4.) Three month rolling average Residual Realization Ratio ................. 133.49%
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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 ............................... $ 1,145,298.99
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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 ............................................. $ 1,145,298.99
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(a.) To the Servicer, Unrecoverable Servicer Advances / Initial Unpaid
Balance ................................................................ $ 12,185.18
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(b.) To the Servicer, the Servicing Fee and miscellaneous amounts, if any ... $ 6,827.98
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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 ........................................ $ 35,202.37
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Interest on Class A-1 Notes .................................... $ --
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Interest on Class A-2 Notes .................................... $ --
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Interest on Class A-3 Notes .................................... $ 35,202.37
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(d.) Interest on Class B Notes for the related period ....................... $ 12,549.40
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(e.) To Series 1999-1 Noteholders:
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To Class A, the total applicable Principal Payment ..................... $ 798,426.45
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Principal Payment to Class A-1 Noteholders ..................... $ --
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Principal Payment to Class A-2 Noteholders ..................... $ --
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Principal Payment to Class A-3 Noteholders ..................... $ 798,426.45
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To Class B for applicable Principal Payment to the extent of the
Class B Floor .......................................................... $ --
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(f.) To the Reserve Account :
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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:
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(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") ............................................................. $ 280,107.61
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IV. SERVICER ADVANCES
(a.) Aggregate amount of Servicer Advances at the beginning of the
Collection Period ...................................................... $ 250,883.77
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(b.) Servicer Advances reimbursed during the Collection Period .............. $ 19,671.65
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(c.) Amount of unreimbursed Service Advances to be reimbursed on the
Settlement Date ........................................................ $ 12,185.18
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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 ................................................................. $ 219,026.94
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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 ................................................................. $ 1,602.93
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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 ........... $ 1,106,364.11
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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 ..................................... $ 1,602.93
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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 ................................... $ 158,396.98
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(b.) Add: Amount of Advance Payments collected during the related
Collection Period ...................................................... $ 101,131.87
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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 ................................................................ $ 116,961.16
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(e.) Ending aggregate Advance Payments ...................................... $ 142,567.69
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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: 05/10/02
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