Heller Equipment Asset Receivables Trust 1999-2
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Heller Financial, Inc.
Monthly Report - Collections and Distribution
15-Oct-01
Collection Period September 2, 2001 to October 1, 2001
Determination Date October 10, 2001
Distribution Date October 15, 2001
Available Amounts
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Scheduled Payments plus Payaheads, net of Excluded Amounts 6,573,965.87
Prepayment Amounts 158,017.12
Recoveries 34,588.16
Investment Earnings on Collection Account and Reserve Fund 7,505.30
Late Charges 14,891.29
Servicer Advances 1,124,138.74
Total Available Amounts 7,913,106.48
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Payments on Distribution Date
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(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 450,993.37
(F) Interest due to Class A-4 Notes 380,594.75
(G) Interest due to Class B Notes 16,564.75
(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 7,042,047.37
(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 (40,896.81)
(AC) Excess to Certificateholder 0.00
Total distributions to Noteholders and Certificateholders 7,913,106.48
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Heller Equipment Asset Receivables Trust 1999-2
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Heller Financial, Inc.
Monthly Report - Schedules
Trustee Fees, In Event of Default only
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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
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(i) Servicing Fee Percentage 0.40%
(ii) ADCB of Contract Pool as of the 1st day of the Collection Period 150,418,339.46
(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
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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
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Opening Class A-2 principal balance -
Class A-2 Interest Rate 6.50000%
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
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Opening Class A-3 principal balance 81,382,262.84
Class A-3 Interest Rate 6.65000%
Current Class A-3 interest due 450,993.37
Class A-3 interest accrued but not paid in prior periods 0.00
Total Class A-3 interest due 450,993.37
Class A-3 interest carried forward 0.00
Class A-3 interest distribution 450,993.37
Class A-4 Interest Schedule
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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 -
Total Class A-4 interest due 380,594.75
Class A-4 interest carried forward -
Class A-4 interest distribution 380,594.75
Class B Interest Schedule
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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 -
Total Class B interest due 16,564.72
Class B interest carried forward -
Class B interest distribution 16,564.72
Class C Interest Schedule
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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 -
Total Class C interest due 16,901.80
Class C interest carried forward -
Class C interest distribution 16,901.80
Class D Interest Schedule
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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
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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 0.00
Total Class E interest due 18,356.02
Class E interest carried forward 0.00
Class E interest distribution 18,356.02
Class A-1 Principal Schedule
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Class A-1 Maturity Date January 6, 2001
(i) Opening Class A-1 principal balance 0.00
(ii) Aggregate outstanding principal of Notes plus Overcollateralization Balance 161,357,419.52
(iii) ADCB as of last day of the Collection Period 143,304,044.20
Monthly Principal Amount ((ii)-(iii)) 18,053,375.32
(iv) Class A-1 Principal Payment Amount 0.00
Class A-1 Principal Payment Amount due (lesser of (i) or (iv)) 0.00
Class A-1 Principal Payment Amount distribution 0.00
Principal carryforward Class A-1 0.00
Class A-1 Principal Balance after current distribution 0.00
Class A Principal Payment Amount
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(i) Aggregate opening Class A-1, A-2, A-3 and A-4 Outstanding Principal Amount 148,644,957.84
(ii) Class A Target Investor Principal Amount (94.0%* ending ADCB) 134,705,801.55
Class A Principal Payment Amount 13,939,156.29
Funds available for distribution after Class A-1 distribution 7,042,047.37
Class A-2 Principal Schedule
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Opening Class A-2 principal balance 0.00
Class A-2 Principal Payment Amount 0.00
Class A-2 Principal Payment Amount distribution 0.00
Principal carryforward Class A-2 0.00
Class A-2 principal balance after current distribution 0.00
Class A-3 Principal Schedule
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Opening Class A-3 principal balance 81,382,262.84
Class A-3 Principal Payment Amount 13,939,156.29
Class A-3 Principal Payment Amount distribution 7,042,047.37
Principal carryforward Class A-3 (6,897,108.92)
Class A-3 principal balance after current distribution 74,340,215.47
Class A-4 Principal Schedule
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Opening Class A-4 principal balance 67,262,695.00
Class A-4 Principal Payment Amount 0.00
Class A-4 Principal Payment Amount distribution 0.00
Principal carryforward Class A-4 0.00
Class A-4 principal balance after current distribution 67,262,695.00
Class B Principal Schedule
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Opening Class B principal balance 2,889,195.95
Class B Target Investor Principal Amount (1.25%* ending ADCB) 1,791,300.55
Class B Floor 8,028,340.19
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
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Opening Class C principal balance 2,889,195.95
Class C Target Investor Principal Amount (1.25%* ending ADCB) 1,791,300.55
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
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Opening Class D principal balance 4,622,713.40
Class D Target Investor Principal Amount (2.00%* ending ADCB) 2,886,080.88
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
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Opening Class E principal balance 2,311,356.38
Class E Target Investor Principal Amount (1.00%* ending ADCB) 1,433,040.44
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
Additional Principal Schedule
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Floors applicable (Yes/No) Yes
Monthly Principal Amount 18,053,375.32
Sum of Principal Payments payable on all classes 13,939,156.29
Additional Principal payable 4,114,219.03
Additional Principal available, if payable 0.00
Class A-1 Additional Principal allocation 0.00
Class A-1 principal balance after current distribution -
Class A-2 Additional Principal allocation 0.00
Class A-2 principal balance after current distribution -
Class A-3 Additional Principal allocation 0.00
Class A-3 principal balance after current distribution 74,340,215.47
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
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(i) Servicing Fee Percentage 0.40%
(ii) ADCB of Contract Pool as of the 1st day of the Collection Period 150,418,339.46
(iii) Servicing Fee due ((i)/12)*(ii)) 50,139.45
(iv) Servicing Fee accrued but not paid in prior periods 514,056.63
Total Servicing Fee due and accrued ((iii)+(iv)) 564,196.08
Servicing Fee carried forward 564,196.08
Monthly Servicing Fee distributed 0.00
Reserve Fund Schedule
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Initial ADCB 365,558,126.61
10% of initial ADCB 36,555,812.66
Outstanding Principal Amount of the Notes as of the preceding Distribution Date 161,357,419.52
ADCB as of the end of the Collection Period 143,304,044.20
Required Reserve Amount (beginning of the period aggregate note balances *0.70%) 1,129,501.94
Prior month Reserve Fund balance 1,170,398.75
Deposit to Reserve Fund - excess funds 0.00
Interim Reserve Fund Balance 1,170,398.75
Current period draw on Reserve Fund for Reserve Interest Payments 0.00
Current period draw on Reserve Fund for Reserve Principal Payments 40,896.81
Excess to Certificateholder 0.00
Ending Reserve Fund balance 1,129,501.94
Reserve Fund balance as a percentage of aggregate note balances as of the first day of the
Collection Period 0.79%
Investment Earnings on Reserve Account 2,967.89
Heller Equipment Asset Receivables Trust 1999-2
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Heller Financial, Inc.
Monthly Report - Note Factors
Class A-1
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Class A-1 principal balance -
Initial Class A-1 principal balance 93,400,101.00
Note factor 0.000000000
Class A-2
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Class A-2 principal balance 0.00
Initial Class A-2 principal balance 77,498,323.00
Note factor 0.000000000
Class A-3
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Class A-3 principal balance 74,340,215.47
Initial Class A-3 principal balance 105,463,520.00
Note factor 0.704890331
Class A-4
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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
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Class B principal balance 2,889,195.95
Initial Class B principal balance 4,569,477.00
Note factor 0.632281539
Class C
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Class C principal balance 2,889,195.95
Initial Class C principal balance 4,569,477.00
Note factor 0.632281539
Class D
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Class D principal balance 4,622,713.40
Initial Class D principal balance 7,311,163.00
Note factor 0.632281540
Class E
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Class E principal balance 2,311,356.38
Initial Class E principal balance 3,655,581.00
Note factor 0.632281539
Heller Equipment Asset Receivalbes Trust 1999-2
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Heller Financial, Inc.
Monthly Report-Additional Schedules and Limitations
Cumulative Loss Amount Schedule
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(i) Outstanding Principal Amount of the Notes as of the preceding Distribution Date 161,357,419.52
(ii) Overcollateralization Balance as of the preceding Distribution Date 0.00
(iii) Monthly Principal Amoumt 18,053,375.32
(iv) Available Amounts remaining after the payment of interest 7,001,150.58
(v) ADCB as of the end of the Collection Period 143,304,044.20
Cumulative Loss Amount 11,052,224.76
Class B Floor Calculation
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Class B Floor percentage 1.86%
Initial ADCB 365,558,126.61
Cumulative Loss Amount for current period 11,052,224.76
Sum of Outstanding Principal Amount of Class C Notes, Class D Notes, Class E Notes and
Overcollaterialization B 9,823,265.73
Class B Floor 8,028,340.19
Class C Floor Calculation
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Class C Floor percentage 1.47%
Initial ADCB 365,558,126.61
Cumulative Loss Amount for current period 11,052,224.76
Sum of Outstanding Principal Amount of Class D Notes, Class E Notes and Overcollaterialization Balance 6,934,069.78
Class C Floor 2,889,195.95
Class D Floor Calculation
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Class D Floor percentage 1.09%
Initial ADCB 365,558,126.61
Cumulative Loss Amount for current period 11,052,224.76
Sum of Outstanding Principal Amount of Class E Notes, Class E Notes and Overcollaterialization Balance 2,311,356.38
Class D Floor 4,622,713.40
Class E Floor Calculation
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Class E Floor percentage 0.47%
Initial ADCB 365,558,126.61
Cumulative Loss Amount for current period 11,052,224.76
Overcollaterialization 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
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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 0.01
Percentage of Substitute Contracts replacing modified contracts exceeds 10% (Yes/No) No
5% Skipped Payment Limit Calculation
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The percent of contracts with Skipped payment modifications 0
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
Heller Equipment Asset Receivables Trust 1999-2
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Heller Financial, Inc.
Monthly Report - Pool Data
Pool Data
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ADCB as of the first day of the Collection Period 150,418,339.46
Principal collections (6,834,906.73)
Prepayment Amounts (157,085.73)
Defaulted Contracts (146,725.21)
Change in payaheads 24,422.41
Other items including Substitutions and Repurchases 0.00
ADCB as of the last day of the Collection Period 143,304,044.20
DCB as of the first day of the Collection Period of Contracts that became Defaulted Contracts 146,725.21
Number of Contracts that became Defaulted Contracts during the period 4
Defaulted Contracts as a percentage of ADCB (annualized) 1.23%
DCB of Contracts as of the last day of the Collection Period that became Prepaid Contracts 0.00
Number of Prepaid Contracts as of the last day of the Collection Period 0
DCB of Contracts as of the last day of the Collection Period that were added as Substitute Contracts 0.00
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 34,588.16
Cumulative Senior Advances paid by the Servicer 19,040,993.84
Cumulative reimbursed Servicer Advances 17,916,855.10
Delinquencies and Losses Dollars Percent
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Current 131,779,108.89 91.96%
31-60 days past due 6,037,778.50 4.21%
61-90 days past due 2,411,360.93 1.68%
Over 90 days past due 3,075,795.88 2.15%
Total 143,304,044.20 100.00%
31 + days past due 11,524,935.31 8.04%
(i) Cumulative ADCB of Defaulted Contracts (cumulative gross losses to date) 18,131,697.28
(ii) Cumulative Recoveries realized on Defaulted Contracts 3,727,233.20
Cumulative net losses to date (i) - (ii) 14,404,464.08
Cumulative net losses as a percentage of the initial ADCB 3.94%