SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
May 12, 2003
ADVANTA EQUIPMENT RECEIVABLES SERIES 2000-1 LLC
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(Exact name of registrant as specified in its charter)
NV 333-93915 88-0454146
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(State or Other (Commission File (I.R.S. Employer Identification
Jurisdiction of Incorporation) Number) No.)
639 Isbell Road, Suite 390-1
Reno, NV 89509
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code 775-823-3080
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No Change
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(Former name or former address, if changed since last report)
Item 7. Financial Statements and Exhibits
The following exhibit is furnished herewith:
21 Monthly Servicer's Certificate issued on May 12, 2003 relating to
the Equipment Receivables Asset-Backed Notes, Series 2000-1,
prepared by the Servicer and sent to the Trustee pursuant to Section
2.01(a) of the Series 2000-1 Transfer and Servicing agreement dated
as of March 1, 2000 covering the period of April 1, 2003 through
April 30, 2003.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
ADVANTA EQUIPMENT RECEIVALBES
SERIES 2000-1 LLC,
As Registrant
By /s/ MARK SHAPIRO
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Name: Mark Shapiro
Title: Manager
Dated: May 12, 2003
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Exhibit Index
Exhibit No. Page
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21.1 Monthly Servicer's Certificate dated May 12, 2003 prepared by the 8
Servicer and sent to the Trustee pursuant to Section
2.01 (a) of the Series 2000-1 Transfer and Servicing
Agreement covering the period of April 1, 2003 through
April 30, 2003.
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NOTE:
We hit the Cumulative Net Loss Percentage trigger event as of the end of October
2002 collection period. At this time the Cumulative Net Loss Percentage exceeds
the Loss Trigger Level Percentage of 7.25%. Principal payments will be made
sequentially, so that available funds, after paying amounts due to the trustee
and the servicer and after paying interest on the notes, will be applied to pay
the full principal amount of each class before any amount is used to pay the
next class. As such, principal will be paid in full on Class A-3, then Class B,
then Class C, then Class D, then Class E and, finally, Class F.
We previously had hit the Cumulative Net Loss Percentage trigger as of the end
of the October 2001 collection period. At that time the Cumulative Net Loss
Percentage exceeded the Loss Trigger Level Percentage of 6.00%. Then in March
2002, the Loss Trigger Level Percentage increased from 6.00% to 7.25%. The
change in the Loss Trigger Level Percentage had resulted in a cure of the
trigger event from March 2002 through September 2002.