Heller Equipment Asset Receivables Trust 1999-2
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Heller Financial, Inc.
Monthly Report - Collections and Distribution
15-Jul-02
Collection Period June 2, 2002 to July 1, 2002
Determination Date July 10, 2002
Distribution Date July 15, 2002
Available Amounts
Scheduled Payments plus Payaheads, net of Excluded Amounts 3,507,066.53
Prepayment Amounts 45,615.69
Recoveries 119,657.97
Investment Earnings on Collection Account and Reserve Fund 4,568.74
Late Charges 606.70
Servicer Advances 102,103.02
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Total Available Amounts 3,779,618.65
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Payments on Distribution Date
(A)** Trustee Fees (only applicable pursuant to an Event of Default) 0.00
(A) Unreimbursed Servicer Advances to the Servicer 0.00
(B) Monthly Servicing Fee, if Heller Financial, Inc. is not the Servicer 0.00
(C) Interest due to Class A-1 Notes 0.00
(D) Interest due to Class A-2 Notes 0.00
(E) Interest due to Class A-3 Notes 119,391.74
(F) Interest due to Class A-4 Notes 380,594.75
(G) Interest due to Class B Notes 16,564.72
(H) Interest due to Class C Notes 16,901.80
(I) Interest due to Class D Notes 28,545.26
(J) Interest due to Class E Notes 18,356.02
(K) Class A-1 Principal Payment Amount 0.00
(L) Class A-2 Principal Payment Amount 0.00
(M) Class A-3 Principal Payment Amount 3,235,367.67
(N) Class A-4 Principal Payment Amount 0.00
(O) Class B Principal Payment Amount 0.00
(P) Class C Principal Payment Amount 0.00
(Q) Class D Principal Payment Amount 0.00
(R) Class E Principal Payment Amount 0.00
(S) Additional Principal to Class A-1 Notes 0.00
(T) Additional Principal to Class A-2 Notes 0.00
(U) Additional Principal to Class A-3 Notes 0.00
(V) Additional Principal to Class A-4 Notes 0.00
(W) Additional Principal to Class B Notes 0.00
(X) Additional Principal to Class C Notes 0.00
(Y) Additional Principal to Class D Notes 0.00
(Z) Additional Principal to Class E Notes 0.00
(AA) Monthly Servicing Fee, if Heller Financial, Inc. is the Servicer 0.00
(AB) Deposit to the Reserve Fund (36,103.31)
(AC) Excess to Certificateholder 0.00
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Total distributions to Noteholders and Certificateholders 3,779,618.65
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Page 1of 8
Heller Equipment Asset Receivables Trust 1999-2
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Heller Financial, Inc.
Monthly Report - Schedules
Trustee Fees, in Event of Default only
Trustee fees due on Distribution Date 0.00
Unreimbursed Servicer Advances
Unreimbursed Servicer Advances 0.00
Monthly Servicing Fee Schedule, if Servicing has been transferred
(i) Servicing Fee Percentage 0.40%
(ii) ADCB of Contract Pool as of the 1st day of the Collection Period 91,609,960.36
(iii) Servicing Fee ( ( (i) / 12 ) x (ii) ) 0.00
(iv) Servicing Fee accrued but not paid in prior periods 0.00
Total Servicing Fee due and accrued ( (iii) + (iv) ) 0.00
Servicing Fee carried forward 0.00
Monthly Servicing Fee distributed 0.00
Class A-1 Interest Schedule
Opening Class A-1 principal balance -
Class A-1 Interest Rate 6.12905%
Number of days in Accrual Period 30
Current Class A-1 interest due 0.00
Class A-1 interest accrued but not paid in prior periods 0.00
Total Class A-1 interest due 0.00
Class A-1 interest carried forward 0.00
Class A-1 interest distribution 0.00
Class A-2 Interest Schedule
Opening Class A-2 principal balance -
Class A-2 Interest Rate 6.50%
Current Class A-2 interest due 0.00
Class A-2 interest accrued but not paid in prior periods 0.00
Total Class A-2 interest due 0.00
Class A-2 interest carried forward 0.00
Class A-2 interest distribution 0.00
Class A-3 Interest Schedule
Opening Class A-3 principal balance 21,544,374.16
Class A-3 Interest Rate 6.65000%
Current Class A-3 interest due 119,391.74
Class A-3 interest accrued but not paid in prior periods 0.00
Total Class A-3 interest due 119,391.74
Class A-3 interest carried forward 0.00
Class A-3 interest distribution 119,391.74
Class A-4 Interest Schedule
Opening Class A-4 principal balance 67,262,695.00
Class A-4 Interest Rate 6.79000%
Current Class A-4 interest due 380,594.75
Class A-4 interest accrued but not paid in prior periods 0.00
Total Class A-4 interest due 380,594.75
Class A-4 interest carried forward 0.00
Class A-4 interest distribution 380,594.75
Class B Interest Schedule
Opening Class B principal balance 2,889,195.95
Class B Interest Rate 6.88000%
Current Class B interest due 16,564.72
Class B interest accrued but not paid in prior periods 0.00
Total Class B interest due 16,564.72
Class B interest carried forward -
Class B interest distribution 16,564.72
Page 2 of 8
Class C Interest Schedule
Opening Class C principal balance 2,889,195.95
Class C Interest Rate 7.02000%
Current Class C interest due 16,901.80
Class C interest accrued but not paid in prior periods 0.00
Total Class C interest due 16,901.80
Class C interest carried forward -
Class C interest distribution 16,901.80
Class D Interest Schedule
Opening Class D principal balance 4,622,713.40
Class D Interest Rate 7.41000%
Current Class D interest due 28,545.26
Class D interest accrued but not paid in prior periods 0.00
Total Class D interest due 28,545.26
Class D interest carried forward 0.00
Class D interest distribution 28,545.26
Class E Interest Schedule
Opening Class E principal balance 2,311,356.38
Class E Interest Rate 9.53000%
Current Class E interest due 18,356.02
Class E interest accrued but not paid in prior periods -
Total Class E interest due 18,356.02
Class E interest carried forward -
Class E interest distribution 18,356.02
Class A-1 Principal Schedule
Class A-1 Maturity Date January 6, 2001
(i) Opening Class A-1 principal balance -
(ii) Aggregate outstanding principal of Notes plus Overcollateralization Balance 101,519,530.84
(iii) ADCB as of last day of the Collection Period 87,226,864.70
Monthly Principal Amount ( (ii) - (iii) ) 14,292,666.14
(iv) Class A-1 Principal Payment Amount -
Class A-1 Principal Payment Amount due (lesser of (i) or (iv)) -
Class A-1 Principal Payment Amount distribution -
Principal carryforward Class A-1 0.00
Class A-1 Principal Balance after current distribution 0.00
Class A Principal Payment Amount
(i) Aggregate opening Class A-1 A-2, A-3 and A-4 Outstanding Principal Amount 88,807,069.16
(ii) Class A Target Investor Principal Amount (94.0% * ending ADCB) 81,993,252.82
Class A Principal Payment Amount 6,813,816.34
Funds available for distribution 3,235,367.67
Class A-2 Principal Schedule
Opening Class A-2 principal balance -
Class A-2 Principal Payment Amount -
Class A-2 Principal Payment Amount distribution 0.00
Principal carryforward Class A-2 -
Class A-2 principal balance after current distribution -
Page 3 of 8
Class A-3 Principal Schedule
Opening Class A-3 principal balance 21,544,374.16
Class A-3 Principal Payment Amount 6,813,816.34
Class A-3 Principal Payment Amount distribution 3,235,367.67
Principal carryforward Class A-3 (3,578,448.67)
Class A-3 principal balance after current distribution 18,309,006.49
Class A-4 Principal Schedule
Opening Class A-4 principal balance 67,262,695.00
Class A-4 Principal Payment Amount -
Class A-4 Principal Payment Amount distribution 0.00
Principal carryforward Class A-4 -
Class A-4 principal balance after current distribution 67,262,695.00
Class B Principal Schedule
Opening Class B principal balance 2,889,195.95
Class B Target Investor Principal Amount (1.25% * ending ADCB) 1,090,335.81
Class B Floor 8,069,517.20
Class B Principal Payment Amount due 0.00
Class B Principal Payment Amount distribution 0.00
Principal carryforward Class B 0.00
Class B principal balance after current distribution 2,889,195.95
Class C Principal Schedule
Opening Class C principal balance 2,889,195.95
Class C Target Investor Principal Amount (1.25% * ending ADCB) 1,090,335.81
Class C Floor 2,889,195.95
Class C Principal Payment Amount due 0.00
Class C Principal Payment Amount distribution 0.00
Principal carryforward Class C 0.00
Class C principal balance after current distribution 2,889,195.95
Class D Principal Schedule
Opening Class D principal balance 4,622,713.40
Class D Target Investor Principal Amount (2.00% * ending ADCB) 1,744,537.29
Class D Floor 4,622,713.40
Class D Principal Payment Amount due 0.00
Class D Principal Payment Amount distribution 0.00
Principal carryforward Class D 0.00
Class D principal balance after current distribution 4,622,713.40
Class E Principal Schedule
Opening Class E principal balance 2,311,356.38
Class E Target Investor Principal Amount (1.00% * ending ADCB) 872,268.65
Class E Floor 2,311,356.38
Class E Principal Payment Amount due 0.00
Class E Principal Payment Amount distribution 0.00
Principal carryforward Class E 0.00
Class E principal balance after current distribution 2,311,356.38
Page 4 of 8
Additional Principal Schedule
Floors applicable (Yes/No) Yes
Monthly Principal Amount 14,292,666.14
Sum of Principal Payments payable on all classes 6,813,816.34
Additional Principal payable 7,478,849.80
Additional Principal available, if payable 0.00
Class A-1 Additional Principal allocation 0.00
Class A-1 principal balance after current distribution 0.00
Class A-2 Additional Principal allocation 0.00
Class A-2 principal balance after current distribution 0.00
Class A-3 Additional Principal allocation 0.00
Class A-3 principal balance after current distribution 18,309,006.49
Class A-4 Additional Principal allocation 0.00
Class A-4 principal balance after current distribution 67,262,695.00
Class B Additional Principal allocation 0.00
Class B principal balance after current distribution 2,889,195.95
Class C Additional Principal allocation 0.00
Class C principal balance after current distribution 2,889,195.95
Class D Additional Principal allocation 0.00
Class D principal balance after current distribution 4,622,713.40
Class E Additional Principal allocation 0.00
Class E principal balance after current distribution 2,311,356.38
Monthly Servicing Fee Schedule, if Heller Financial, Inc. is the Servicer
(i) Servicing Fee Percentage 0.40%
(ii) ADCB of Contract Pool as of the 1st day of the Collection Period 91,278,038.38
(iii) Servicing Fee due ( ( (i) / 12 ) * (ii) ) 30,426.01
(iv) Servicing Fee accrued but not paid in prior periods 881,949.78
Total Servicing Fee due and accrued ( (iii) + (iv) ) 912,375.79
Servicing Fee carried forward 912,375.79
Monthly Servicing Fee distributed 0.00
Reserve Fund Schedule
Initial ADCB 365,558,126.61
10% of Initial ADCB 36,555,812.66
ADCB of Contract Pool as of the 1st day of the Collection Period 91,609,960.36
Aggregate Principal Amounts as of last day of preceeding Collection Period 101,519,530.84
ADCB as of the end of the Collection Period 87,226,864.70
Required Reserve Amount (Beginning Aggregate Principal Amount * 0.70%) 710,636.72
Prior month Reserve Fund balance 746,740.03
Deposit to Reserve Fund - excess funds 0.00
Interim Reserve Fund Balance 746,740.03
Current period draw on Reserve Fund for Reserve Interest Payments 0.00
Current period draw on Reserve Fund for Reserve Principal Payments 36,103.31
Excess to Certificateholder 0.00
Ending Reserve Fund balance 710,636.72
Reserve Fund balance as a percentage of aggregate note balances as of the first day
of the Collection Period 0.70%
Investment Earnings on Reserve Account 1,019.60
Page 5 of 8
Heller Equipment Asset Receivables Trust 1999-2
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Heller Financial, Inc.
Monthly Report - Note Factors
Class A-1
Class A-1 principal balance 0.00
Initial Class A-1 principal balance 93,400,101.00
Note factor 0.000000000
Class A-2
Class A-2 principal balance 0.00
Initial Class A-2 principal balance 77,498,323.00
Note factor 0.000000000
Class A-3
Class A-3 principal balance 18,309,006.49
Initial Class A-3 principal balance 105,463,520.00
Note factor 0.173605115
Class A-4
Class A-4 principal balance 67,262,695.00
Initial Class A-4 principal balance 67,262,695.00
Note factor 1.000000000
Class B
Class B principal balance 2,889,195.95
initial Class B principal balance 4,569,477.00
Note factor 0.632281539
Class C
Class C principal balance 2,889,195.95
Initial Class C principal balance 4,569,477.00
Note factor 0.632281539
Class D
Class D principal balance 4,622,713.40
Initial Class D principal balance 7,311,163.00
Note factor 0.632281540
Class E
Class E principal balance 2,311,356.38
Initial Class E principal balance 3,655,581.00
Note factor 0.632281539
Page 6 of 8
Heller Equipment Asset Receivables Trust 1999-2
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Heller Financial, Inc.
Monthly Report - Additional Schedules and Limitations
Cumulative Loss Amount Schedule
(i) Outstanding Principal Amount of the Notes as of the preceding
Distribution Date 101,519,530.84
(ii) Overcollateralization Balance as of the preceding Distribution Date 0.00
(iii) Monthly Principal Amount 14,292,666.14
(iv) Available Amounts remaining after the payment of interest 3,199,264.36
(v) ADCB as of the end of the Collection Period 87,226,864.70
Cumulative Loss Amount 11,093,401.78
Class B Floor Calculation
Class B Floor percentage 1.86%
Initial ADCB 365,558,126.61
Cumulative Loss Amount for current period 11,093,401.78
Sum of Outstanding Principal Amount of Class C Notes, Class D, Class E Notes
and Overcollateralization Balance 9,823,265.73
Class B Floor 8,069,517.20
Class C Floor Calculation
Class C Floor percentage 1.47%
Initial ADCB 365,558,126.61
Cumulative Loss Amount for current period 11,093,401.78
Sum of Outstanding Principal Amount of Class D Notes and Overcollateralization
Balance 6,934,069.78
Class C Floor 2,889,195.95
Class D Floor Calculation
Class D Floor percentage 1.09%
Initial ADCB 365,558,126.61
Cumulative Loss Amount for current period 11,093,401.78
Overcollateralization Balance 2,311,356.38
Class D Floor 4,622,713.40
Class E Floor Calculation
Class E Floor percentage 4.65%
Initial ADCB 365,558,126.61
Cumulative Loss Amount for current period 11,093,401.78
Overcollateralization Balance 0.00
Class E Floor 2,311,356.38
Heller Financial, Inc. is the Servicer (Yes/No) Yes
An Event of Default has occurred (Yes/No) No
10% Substitution Limit Calculation
ADCB as of the Cut-off Date: 365,558,126.61
Cumulative DCB of Substitute Contracts replacing materially modified contracts 2,337,681.79
Percentage of Substitute Contracts replacing materially modified contracts 0.64%
Percentage of Substitute Contracts replacing modified contracts exceeds 10%
(Yes/No) No
5% Skipped Payment Limit Calculation
The percent of contracts with Skipped Payment modifications 0.72%
The DCB of Skipped Payment modifications exceeds 5% of the initial ADCB
(Yes/No) No
Any Skipped Payments have been deferred later than January 1, 2006 No
Page 7 of 8
Heller Equipment Asset Receivables Trust 1999-2
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Heller Financial, Inc.
Monthly Report - Pool Data
Pool Data
ADCB as of the first day of the Collection Period 91,278,038.38
Principal collections (2,904,389.91)
Prepayment Amounts (45,346.82)
Defaulted Contracts (1,052,805.29)
Payaheads (48,631.66)
Substitutions and Repurchases -
ADCB as of the last day of the Collection Period 87,226,864.70
DCB as of the first day of the Collection Period of Contracts that became
Defaulted Contracts 1,052,805.29
Number of Contracts that became Defaulted Contracts during the period 5
Defaulted Contracts as a percentage of ADCB (annualized) 14.48%
DCB of Contracts as of the last day of the Collection Period that became Prepaid
Contracts 45,346.82
Number of Prepaid Contracts as of the last day of the Collection Period 1
DCB of Contracts as of the last day of the Collection Period that was added as
Substitute Contracts 0
Number of Substitute Contracts as of the last day of the Collection Period 0
DCB of Contracts as of the last day of the Collection Period that became
Warranty Contracts 0.00
Number of Warranty Contracts as of the last day of the Collection Period 0
Recoveries collected relating to Defaulted Contracts as of the last day of the
Collection Period 119,657.97
Delinquencies and Losses Dollars Percent
- ------------------------ ------- -------
Current 81,341,410.87 93.25%
31-60 days past due 1,683,060.34 1.93%
61-90 days past due 1,939,264.18 2.22%
Over 90 days past due 2,263,129.31 2.59%
Total 87,226,864.70 100.00%
31+ days past due 5,885,453.83 6.75%
(i) Cumulative ADCB of Defaulted Contracts (cumulative gross losses to date) 25,400,117.19
(ii) Cumulative Recoveries realized on Defaulted Contracts 9,898,861.90
Cumulative net losses to date ((i) - (ii)) 15,501,255.29
Cumulative net losses as a percentage of the initial ADCB 4.24%
Page 8 of 8