Exhibit 99.1

 

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Monthly Servicer Report

On Behalf of Hercules Capital Funding Trust 2012-1

Prepared: For the collection period ending January 4, 2014

 

 

Hercules Capital Funding Trust 2012-1
Monthly Servicing Report for the Collection Period Ending January 4, 2014 Page 1 of 8


Monthly Servicer Report

On Behalf of Hercules Capital Funding Trust 2012-1

 

First Day of Collection Period December 5, 2013
Last Day of Collection Period January 4, 2014
Payment Date January 16, 2014

Available Funds

On each Payment Date, payments on the Notes will be made from the following sources (collectively, “Available Funds”):

 

Obligor payments

Interest Received

$ 1,555,000   

Principal Received

$ 15,550,742   

Other Obligor Payments

$ 12,383   
  

 

 

 

Obligor payments received with respect to the Loans during the preceding Collection Period;

$ 17,118,125   

Liquidation proceeds received with respect to the Loans during the preceding Collection Period;

$ —     

Interest earned on funds on deposit in the Collection Account, the Interest Reserve Account and the Expense Reserve Account;

Proceeds from any optional sale of Loans;

$ —     

Payments made by the Seller, the Depositor or the Servicer in connection with the required repurchase or purchase of Loans; and

$ —     

Scheduled Payment Advances

$ —     
  

 

 

 

Total Available Funds

$ 17,118,125   
  

 

 

 

 

Hercules Capital Funding Trust 2012-1
Monthly Servicing Report for the Collection Period Ending January 4, 2014 Page 2 of 8


Waterfall Calculations

 

Interest Collections

$ 1,555,000   
(1) Trustee, the Owner Trustee, the Backup Servicer, the Custodian and the Lockbox Bank, pro rata, any accrued and unpaid fees, expenses and indemnities then due to each of them with rolling twelve-month limit of $500K

US Bank Trustee - Annual Administrative Fee

$ 2,083   

US Bank Back Up Servicer - Annual Administrative Fee

$ 2,241   

US Bank Custodian - Monthly Fees

$ 150   

US Bank Lockbox Fees

$ 259   

Moody’s Investors Service - Annual Fee

$ 20,000   
    

 

 

 

Total due to Trustee/Owner Trustee/Backup Servicer/Custodian/Lockbox Bank fees/Rating Agency

$ 24,734   
The Servicing Fee shall be equal to the sum of the product of: (i) one-twelfth of 2.00% (or, with respect to the first Collection Period, a fraction equal to the number of days from and including the Cutoff Date through and including January 15, 2013 over 360) and (ii) the Aggregate Outstanding Pool Balance as of the beginning of the related Collection Period.     
(2) Servicer or any Successor Servicer, any previously unreimbursed Scheduled Payment Advances, Servicing Advances, the Servicing Fee for the related calendar month, any supplemental servicing fees for the related calendar month, any reimbursements for mistaken deposits and other related amounts and certain other amounts due on the Loans that the Servicer is entitled to retain; to the Seller, amounts deposited into the Lockbox Account but not related to interest, principal or extension fees due on the Loans; a one-time servicer engagement fee to the Backup Servicer (upon becoming Successor Servicer) of $125K; and costs and expenses, if any, incurred by the Trustee or by any Successor Servicer (including the Backup Servicer) in connection with the transfer of servicing to any Successor Servicer, which shall not exceed $50K for a servicing transfer to the Backup Servicer or 175K to any other Successor Servicer $ —     

First day of collection period

  December 5, 2013   

Aggregate Outstanding Pool Balance as of beginning of Collection Period

$ 183,094,559   

Applicable Servicing Fee %

  2.00

Number of Days to calculate

  0.08   
    

 

 

 

Total Servicing Fee

$ 305,158   
(3) Accrued interest due on the Notes, which is the sum of (i) the aggregate amount of interest due and accrued for the related Interest Period on the Notes; and (ii) the excess, if any, of the amount of interest remaining due and payable on the Notes on prior Payment Dates over the amounts in respect of interest actually paid on the Notes on such Payment Dates, plus interest on any such shortfall at the interest rate for the Notes

Outstanding Balance of Notes After Last Payment Date

$ 89,556,972   

Applicable Rate

  3.32
  

 

 

   

Interest due and accrued for related interest period

$ 247,774   

Interest unpaid and due from prior payment date

$ —     

Plus interest on interest unpaid and due from prior payment date

$ —     

Total Accrued Interest Due

$ 247,774   
(4) Principal on the Notes in the amounts required under “Principal Collections” below, but only to the extent not paid in full from Principal Collections

Outstanding Balance of Notes After Last Payment Date

$ 89,556,972   

Target Principal Amortization

$ 12,687,162   

Principal Payments Received from Principal Collections

$ (12,687,162

Principal Payments Received from Reserve Account

$ —     

Principal Payments Received from Interest Collections

$ —     
    

 

 

 

Note Balance after Principal Payment

$ 76,869,810   
(5) Pay each of the Trustee, the Owner Trustee, the Backup Servicer, any Successor Servicer, the Custodian and the Lockbox Bank, pro rata, any fees and expenses then due to such party that are in excess of the related cap or annual limitation $ —     

(6) Pay all remaining amounts to the Certificateholder

$ 977,335   

Principal Collections

$ 15,563,125   
(1) Pay the amounts under “Interest Collections”, but only to the extent not paid in full from Interest Collections $ —     
(2) (A) for so long as no Rapid Amortization Event has occurred, to pay principal on the Notes in an amount equal to the excess, if any, of the outstanding principal amount of the Notes over the Borrowing Base and (B) following the occurrence of any Rapid Amortization Event, to pay outstanding principal on the Notes until the outstanding principal balance of the Notes is reduced to zero $ 12,687,162   
(3) Pay the remaining outstanding principal balance of the Notes on the Legal Final Payment Date $ —     
(4) The amount on deposit in the Reserve Account is more than the Reserve Account Required Balance, to the Certificateholder, the balance in the Reserve Account that is in excess of 7.5% of the Aggregate Outstanding Principal Balance of the Notes after taking into account paydowns on the Notes made on the applicable Payment Date $ (505,982
(5) Pay the amounts referred to in clause (5) under “Interest Collections” above, but only to the extent not paid in full from Interest Collections; $ —     
(6) Pay all remaining amounts to the Certificateholder $ 3,381,946   

 

Hercules Capital Funding Trust 2012-1
Monthly Servicing Report for the Collection Period Ending January 4, 2014 Page 3 of 8


Borrowing Base and Required Note Payments

As of:

   January 4, 2014   

 

First Day of Collection Period

   December 5, 2013   

Last Day of Collection Period

   January 4, 2014   

Payment Date

   January 16, 2014   

 

Borrowing Base

             
  

Adjusted Pool Balance

          
    

Pool Balance

         $ 161,607,770   
    

Total Excess Concentration Amount

         $ (37,624,206
    

Outstanding Balance of all Delinquent Loans

         $ —     
    

Outstanding Balance of all Restructured Loans

         $ —     
             

 

 

 
Total Adjusted Pool Balance $ 123,983,565   

Advance Rate

  62.0
             

 

 

 
$ 76,869,810   
             

 

 

 

Borrowing Base

Beginning Outstanding Note Balance

$ 89,556,972   

Rapid Amortization

$ —     
             

 

 

 

Required Payment on Notes

$ 12,687,162   

Rapid Amortization Event

Restructured Loan

Loan that has been, or in accordance with the Credit Monitoring Guidelines is required to be, modified or restructured to extend the maturity thereof or reduce the amount (other than by reason of the repayment thereof) or extend the time for payment of principal thereof, in each case as a result of the Obligor’s material financial underperformance, distress or default. Such Loan shall cease to be a Restructured Loan when such Loan has been performing for at least six consecutive months since the date the most recent modification was made and is no longer required to be so modified or restructured in accordance with the Credit Monitoring Guidelines.

 

Reporting Date

   Obligor Name    Modification Date    Loan Balance    Total Restructured Amt
in last 6 months

N/A

           

 

Delinquent Loan

              
   Loan which is more than forty-five (45) days delinquent in payment; provided, however, that any Loan that has been substituted and replaced by the Issuer with a Substitute Loan pursuant to Section 2.04 and Section 2.06 will not be deemed to be a Delinquent Loan.   

 

     Days of Delinquency         
     31 to 59      60 to 89      90+      Total  

N/A

   $ —         $ —         $ —         $ —     

Total

   $ —         $ —         $ —         $ —     

 

Defaulted Loan

              
   Loan in the Collateral as to which the earliest of the following has occurred: (i) any payment, or any part of any payment in excess of 90%, due under such Loan (taking into account any waivers or modifications granted by the Servicer on such Loan) has become 120 days or more delinquent, whether or not the Servicer has foreclosed upon the related Collateral or if the related obligor is insolvent or has declared bankruptcy and the Loan is more than 180 days delinquent; (ii) the Servicer has foreclosed upon and sold the related collateral; (iii) 90 days has elapsed since the related Collateral was foreclosed upon by the Servicer; or (iv) the Servicer has determined in accordance with its customary practices that the Loan is uncollectible or the final recoverable amounts have been received.   

 

Reporting Date

   Obligor Name    Defaulted Date    Loan Balance    Days of Default

N/A

           

 

Aggregate Outstanding Principal Balance of the Notes exceeds the Borrowing Base for a period of three (3) consecutive calendar months   

 

Date

   Ending Outstanding
Note Balances
   Borrowing Base    Balance > Borrowing
Base
    

N/A

              

 

Loans in the Collateral consist of Loans to 10 or fewer Obligors

              

 

     Obligor Count    Count >
10
    

N/A

        

 

An Event of Default

              

 

           

N/A

  

 

Hercules Capital Funding Trust 2012-1   
Monthly Servicing Report for the Collection Period Ending January 4, 2014    Page 4 of 8


Pool Balance, Note and General Reserve Schedules

 

Pool Balance

   

Note Balances

 

Ending

Collection

Period Date

  Beginning
Pool Balance
    Ending Pool
Balance
   

Payment

Date

  Beginning
Balance
    Principal
Payment
    Ending
Balance
    Note
Factor
    Note
Interest
Paid
    Cumulative
Interest
Paid
 

January 4, 2013

  $ 230,681,409      $ 224,940,814      January 16, 2013     129,300,000        5,781,416        123,518,584        0.9553        321,957        321,957   

February 4, 2013

  $ 224,940,814      $ 222,584,218      February 19, 2013     123,518,584        1,576,420        121,942,164        0.9431        375,908        697,865   

March 4, 2013

  $ 222,584,218      $ 219,853,292      March 18, 2013     121,942,164        1,890,769        120,051,395        0.9285        337,373        1,035,239   

April 4, 2013

  $ 219,853,292      $ 213,275,244      April 16, 2013     120,051,395        5,375,752        114,675,643        0.8869        332,142        1,367,381   

May 4, 2013

  $ 213,275,244      $ 210,005,171      May 16, 2013     114,675,643        2,133,032        112,542,610        0.8704        317,269        1,684,650   

June 4, 2013

  $ 210,005,171      $ 206,578,601      June 17, 2013     112,542,610        2,273,025        110,269,586        0.8528        311,368        1,996,018   

July 3, 2013

  $ 206,578,601      $ 202,809,422      July 16, 2013     110,269,586        2,564,881        107,704,704        0.8330        305,079        2,301,097   

August 2, 2013

  $ 202,809,422      $ 199,038,413      August 16, 2013     107,704,704        2,566,154        105,138,550        0.8131        297,983        2,599,080   

September 3, 2013

  $ 199,038,413      $ 194,941,027      September 16, 2013     105,138,550        2,664,395        102,474,155        0.7925        290,883        2,889,963   

October 4, 2013

  $ 194,941,027      $ 185,845,674      October 16, 2013     102,474,155        7,022,406        95,451,748        0.7382        283,059        3,173,022   

November 4, 2013

  $ 185,845,674      $ 181,441,387      November 18, 2013     95,451,748        2,986,838        92,464,911        0.7151        264,083        3,437,106   

December 4, 2013

  $ 181,441,387      $ 177,158,512      December 16, 2013     92,464,911        2,907,939        89,556,972        0.6926        255,820        3,692,925   

January 4, 2014

  $ 177,158,512      $ 161,607,770      January 16, 2014     89,556,972        12,687,162        76,869,810        0.5945        247,774        3,940,699   

 

General Reserve Account

 

Payment Date

  Beginning
Balance
    Plus: Required
Deposits
    Plus:
Interest
    Less: Excess over
General Reserve
Account Required
Balance
    Less:
Withdrawal
for Insufficient
Funds for
Required
Payments
    Less:
Withdrawal due
to Event of
Default
    Ending Balance     Reserve Balance
as a % of the
Outstanding
Principal Balance

of the Notes
 

January 16, 2013

  $ —        $ —        $ —        $ —        $ —        $ —        $ —          0.00

February 19, 2013

  $ —        $ 390,088      $ —        $ —        $ —        $ —        $ 390,088        0.32

March 16, 2013

  $ 390,088      $ 420,079      $ —        $ —        $ —        $ —        $ 810,167        0.66

April 16, 2013

  $ 810,167      $ —        $ —        $ —        $ 243,520      $ —        $ 566,646        0.47

May 16, 2013

  $ 566,646      $ 568,520      $ —        $ —        $ —        $ —        $ 1,135,167        0.99

June 17, 2013

  $ 1,135,167      $ 522,647      $ —        $ —        $ —        $ —        $ 1,657,814        1.47

July 16, 2013

  $ 1,657,814      $ 602,149      $ —        $ —        $ —        $ —        $ 2,259,963        2.05

August 16, 2013

  $ 2,259,963      $ 602,427      $ —        $ —        $ —        $ —        $ 2,862,390        2.66

September 16, 2013

  $ 2,862,390      $ 769,496      $ —        $ —        $ —        $ —        $ 3,631,886        3.45

October 16, 2013

  $ 3,631,886      $ 1,036,473      $ —        $ —        $ —        $ —        $ 4,668,359        4.56

November 18, 2013

  $ 4,668,359      $ 875,391      $ —        $ —        $ —        $ —        $ 5,543,750        5.81

December 16, 2013

  $ 5,543,750      $ 727,468      $ —        $ —        $ —        $ —        $ 6,271,218        6.78

January 16, 2014

  $ 6,271,218      $ —        $ —        $ 505,982      $ —        $ —        $ 5,765,236        7.50

 

Hercules Capital Funding Trust 2012-1   
Monthly Servicing Report for the Collection Period Ending January 4, 2014    Page 5 of 8


Pool Balance (by Obligor) Concentration

 

Obligor Count

  23   

 

Loan Status

   Loan Balance      % of
Loan Balance
 

Current

   $ 161,607,770         100

Restructured

   $ —           0

Defaulted

   $ —           0

Delinquent

   $ —           0
  

 

 

    

 

 

 

TOTAL

$ 161,607,770      100
  

 

 

    

 

 

 

 

Concentration Limits percentage of Loan Balance

  5   23   44

Concentration Limits in Dollars

$ 8,080,389    $ 37,169,787    $ 71,107,419   
     Single Obligor     Top Five     Top Ten  

Excess Concentration

      

OBLIGOR #14

   $ (6,487,524    

OBLIGOR #8

   $ (5,120,849    

OBLIGOR #25

   $ (3,234,373    

OBLIGOR #18

   $ (2,254,362    

OBLIGOR #26

   $ (1,919,611   $ (22,248,875  

OBLIGOR #13

   $ (1,919,611    

OBLIGOR #23

   $ (1,919,611    

OBLIGOR #28

   $ (1,919,611    

OBLIGOR #7

   $ (1,681,284    

OBLIGOR #16

   $ (1,470,901     $ (37,624,206

OBLIGOR #5

   $ (718,252    
  

 

 

   

 

 

   

 

 

 

Total

$ (28,645,992 $ (22,248,875 $ (37,624,206
  

 

 

   

 

 

   

 

 

 

 

Total Excess Concentration Amount

$ (37,624,206

Adjusted Pool Balance

$ 123,983,565   

 

Hercules Capital Funding Trust 2012-1
Monthly Servicing Report for the Collection Period Ending January 4, 2014 Page 6 of 8


Pool Balance and Note Schedules

 

Pool Balance

 

Ending Collection

Period Date

  Beginning Principal     Principal Collections*     Adjustment For
Substitution
    Other Collections     Ending Balance     Collateral Interest
Received
    Other
Collections
    Total Collections  

December 19, 2012

  $ 230,681,409      $ —        $ —          $ 230,681,409      $ —        $ —        $ —     

January 4, 2013

  $ 230,681,409      $ 5,740,595      $ —          $ 224,940,814      $ 2,084,457      $ —        $ 7,825,052   

February 4, 2013

  $ 224,940,814      $ 2,356,596      $ —          $ 222,584,218      $ 1,981,727      $ —        $ 4,338,323   

March 4, 2013

  $ 222,584,218      $ 2,730,927      $ —          $ 219,853,292      $ 1,770,085      $ —        $ 4,501,012   

April 4, 2013

  $ 219,853,292      $ 3,900,558      $ 2,677,489        $ 213,275,244      $ 1,935,178      $ 18,050      $ 5,853,787   

May 4, 2013

  $ 213,275,244      $ 3,270,073      $ —          $ 210,005,171      $ 1,846,576      $ —        $ 5,116,649   

June 4, 2013

  $ 210,005,171      $ 3,318,319      $ 108,251        $ 206,578,601      $ 1,977,416      $ —        $ 5,295,735   

July 3, 2013

  $ 206,578,601      $ 3,769,179      $ —          $ 202,809,422      $ 1,781,618      $ —        $ 5,550,798   

August 2, 2013

  $ 202,809,422      $ 3,771,009      $ —          $ 199,038,413      $ 1,805,042      $ —        $ 5,576,051   

September 3, 2013

  $ 199,038,413      $ 4,097,386      $ —        $ 106,000      $ 194,941,027      $ 1,784,734      $ —        $ 5,988,120   

October 4, 2013

  $ 194,941,027      $ 9,095,353      $ —          $ 185,845,674      $ 1,608,996      $ —        $ 10,704,349   

November 4, 2013

  $ 185,845,674      $ 4,099,288      $ 305,000      $ 333,333      $ 181,441,387      $ 1,634,167      $ —        $ 6,371,788   

December 4, 2013

  $ 181,441,387      $ 4,282,874      $ —        $ 80,000      $ 177,158,512      $ 1,573,172      $ —        $ 5,936,046   

January 4, 2014

  $ 177,158,512      $ 15,550,742      $ —        $ 12,383      $ 161,607,770      $ 1,555,000      $ —        $ 17,118,125   

 

Note Balance - Class A Notes

 

Payment Date

   Beginning Principal      Principal Paydown        Ending Balance      Note Factor  

December 19, 2012

   $ 129,300,000            $ 129,300,000         1.000000   

January 16, 2013

   $ 129,300,000       $ 5,781,416         $ 123,518,584         0.955287   

February 19, 2013

   $ 123,518,584       $ 1,576,420         $ 121,942,164         0.943095   

March 18, 2013

   $ 121,942,164       $ 1,890,769         $ 120,051,395         0.928472   

April 16, 2013

   $ 120,051,395       $ 5,375,752         $ 114,675,643         0.886896   

May 16, 2013

   $ 114,675,643       $ 2,133,032         $ 112,542,610         0.870399   

June 17, 2013

   $ 112,542,610       $ 2,273,025         $ 110,269,586         0.852820   

July 16, 2013

   $ 110,269,586       $ 2,564,881         $ 107,704,704         0.832983   

August 16, 2013

   $ 107,704,704       $ 2,566,154         $ 105,138,550         0.813137   

September 16, 2013

   $ 105,138,550       $ 2,664,395         $ 102,474,155         0.792530   

October 16, 2013

   $ 102,474,155       $ 7,022,406         $ 95,451,748         0.738219   

November 18, 2013

   $ 95,451,748       $ 2,986,838         $ 92,464,911         0.715119   

December 16, 2013

   $ 92,464,911       $ 2,907,939         $ 89,556,972         0.692629   

January 16, 2014

   $ 89,556,972       $ 12,687,162         $ 76,869,810         0.594507   

 

* Principal Collections can potentially include fees and other payments

 

Hercules Capital Funding Trust 2012-1   
Monthly Servicing Report for the Collection Period Ending January 4, 2014    Page 7 of 8


Pool Balance - End of Period

 

OBLIGOR
NAME
Dec-12   Jan-13   Feb-13   Mar-13   Apr-13   May-13   Jun-13   Jul-13   Aug-13   Sep-13   Oct-13   Nov-13   Dec-13   Jan-14  

OBLIGOR #1

$ 8,172,429    $ 7,861,069    $ 7,547,429    $ 7,226,148    $ 6,907,861    $ 6,585,614    $ 6,262,639    $ 5,935,821    $ 5,608,090    $ 5,277,960    $ 4,944,167    $ 4,609,177    $ 4,270,648    $ —     

OBLIGOR #2

$ 5,052,335    $ 4,572,047    $ 4,087,313    $ 3,594,431    $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #3

$ 9,230,769    $ 8,846,154    $ 8,461,538    $ 8,076,923    $ 7,692,308    $ 7,307,692    $ 6,923,077    $ 6,538,462    $ 6,153,846    $ 5,769,231    $ 5,384,615    $ 5,000,000    $ 4,615,385    $ 4,230,769   

OBLIGOR #4

$ 11,292,550    $ 10,871,709    $ 10,447,046    $ 10,009,339    $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #5

$ 12,555,645    $ 12,555,645    $ 12,555,645    $ 12,555,645    $ 12,198,390    $ 11,833,442    $ 11,468,786    $ 11,096,603    $ 10,724,397    $ 10,348,377    $ 9,965,083    $ 9,581,282    $ 9,190,380    $ 8,798,641   

OBLIGOR #6

$ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ —      $ —      $ —      $ —     

OBLIGOR #7

$ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673   

OBLIGOR #8

$ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 14,553,670    $ 14,107,639    $ 13,654,431    $ 13,201,238   

OBLIGOR #9

$ 3,822,324    $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #10

$ 1,000,000    $ 1,000,000    $ 1,000,000    $ 966,343    $ 933,243    $ 899,586    $ 865,897    $ 831,664    $ 797,375    $ 762,784    $ 727,670    $ 692,464    $ 656,749    $ 620,917   

OBLIGOR #11

$ 3,758,211    $ 3,563,606    $ 3,367,447    $ 3,167,242    $ 2,968,011    $ 2,766,494    $ 2,564,157    $ 2,359,611    $ 2,154,121    $ 1,947,038    $ 1,737,864    $ 1,527,555    $ 1,315,235    $ 1,101,651   

OBLIGOR #12

$ 8,000,000    $ 8,000,000    $ 8,000,000    $ 8,000,000    $ 7,703,704    $ 7,407,407    $ 7,111,111    $ 6,814,815    $ 6,518,519    $ 6,222,222    $ 5,925,926    $ 5,629,630    $ 5,333,333    $ 5,037,037   

OBLIGOR #13

$ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000   

OBLIGOR #14

$ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 14,567,912   

OBLIGOR #15

$ 5,000,000    $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 4,880,240    $ 4,760,835    $ 4,640,408    $ 4,517,666    $ 4,395,155    $ 4,270,380    $ 4,145,750   

OBLIGOR #16

$ 15,000,000    $ 15,000,000    $ 14,573,778    $ 14,128,579    $ 13,693,352    $ 13,249,064    $ 12,804,749    $ 12,351,575    $ 11,897,986    $ 11,439,710    $ 10,972,886    $ 10,505,051    $ 10,028,879    $ 9,551,290   

OBLIGOR #17

$ 10,000,000    $ 10,000,000    $ 10,000,000    $ 9,711,183    $ 9,428,358    $ 9,140,353    $ 8,852,490    $ 8,559,565    $ 8,266,576    $ 7,971,001    $ 7,670,547    $ 7,369,711    $ 7,064,121    $ 6,757,933   

OBLIGOR #18

$ 13,749,133    $ 13,749,133    $ 13,749,133    $ 13,749,133    $ 11,749,133    $ 11,389,840    $ 11,030,718    $ 10,665,363    $ 10,299,863    $ 9,931,335    $ 9,556,937    $ 9,249,519    $ 8,801,783    $ 8,420,762   

OBLIGOR #18

$ 2,000,000    $ 2,000,000    $ 2,000,000    $ 2,000,000    $ 2,000,000    $ 2,000,000    $ 2,000,000    $ 2,000,000    $ 2,000,000    $ 1,913,989   

OBLIGOR #19

$ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 9,711,251    $ 9,422,842    $ 9,131,539    $ 4,031,539    $ —      $ —      $ —     

OBLIGOR #20

$ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000   

OBLIGOR #21

$ 5,000,000    $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 4,845,939    $ 4,690,274    $ 4,534,612    $ 4,377,391    $ 4,220,113    $ 4,062,022    $ 3,902,438    $ 3,742,706    $ 3,581,525    $ —     

OBLIGOR #21

$ 5,000,000    $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 4,851,509    $ 4,700,720    $ 4,549,975    $ 4,396,987    $ 4,243,953    $ 4,089,765    $ 3,933,422    $ 3,776,895    $ 3,618,270    $ —     

OBLIGOR #22

$ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 5,833,332    $ 5,666,665    $ 5,499,997   

OBLIGOR #23

$ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000   

OBLIGOR #24

$ 8,283,251    $ 8,156,689    $ 8,030,126    $ 7,903,564    $ 7,777,001    $ 7,608,251    $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #25

$ 8,000,000    $ 8,000,000    $ 8,000,000    $ 8,000,000    $ 8,000,000    $ 7,900,000    $ 7,800,000    $ 7,700,000    $ 7,600,000    $ 7,200,000    $ 7,100,000    $ 7,000,000    $ 6,900,000    $ 6,800,000   

OBLIGOR #25

$ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762   

OBLIGOR #26

$ —      $ —      $ —      $ —      $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000   

OBLIGOR #27

$ —      $ —      $ —      $ —      $ —      $ —      $ 7,283,956    $ 7,063,640    $ 6,843,463    $ 6,621,201    $ 6,394,809    $ 6,168,297    $ 5,937,754    $ 5,706,912   

OBLIGOR #28

$ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000   

OBLIGOR #29

$ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ 3,726,539    $ 3,726,539    $ 3,726,539   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

TOTAL

$ 230,681,409    $ 224,940,814    $ 222,584,218    $ 219,853,292    $ 213,275,244    $ 210,005,171    $ 206,578,601    $ 202,809,422    $ 199,038,413    $ 194,941,027    $ 185,845,674    $ 181,441,387    $ 177,158,512    $ 161,607,770   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

Hercules Capital Funding Trust 2012-1
Monthly Servicing Report for the Collection Period Ending January 4, 2014 Page 8 of 8


 

LOGO

Monthly Servicer Report

On Behalf of Hercules Capital Funding Trust 2012-1

Prepared: For the collection period ending February 4, 2014

 

 

Hercules Capital Funding Trust 2012-1
Monthly Servicing Report for the Collection Period Ending February 4, 2014 Page 1 of 8


Monthly Servicer Report

On Behalf of Hercules Capital Funding Trust 2012-1

 

First Day of Collection Period January 5, 2014
Last Day of Collection Period February 4, 2014
Payment Date February 17, 2014

Available Funds

On each Payment Date, payments on the Notes will be made from the following sources (collectively, “Available Funds”):

 

Obligor payments

Interest Received

$ 1,374,048   

Principal Received

$ 3,181,044   

Other Obligor Payments

$ 650,659   
  

 

 

 

Obligor payments received with respect to the Loans during the preceding Collection Period;

$ 5,205,750   

Liquidation proceeds received with respect to the Loans during the preceding Collection Period;

$ —     

Interest earned on funds on deposit in the Collection Account, the Interest Reserve Account and the Expense Reserve Account;

Proceeds from any optional sale of Loans;

$ —     

Payments made by the Seller, the Depositor or the Servicer in connection with the required repurchase or purchase of Loans; and

$ —     

Scheduled Payment Advances

$ —     
  

 

 

 

Total Available Funds

$ 5,205,750   
  

 

 

 

 

Hercules Capital Funding Trust 2012-1
Monthly Servicing Report for the Collection Period Ending February 4, 2014 Page 2 of 8


Waterfall Calculations

 

Interest Collections

$ 1,374,048   
(1) Trustee, the Owner Trustee, the Backup Servicer, the Custodian and the Lockbox Bank, pro rata, any accrued and unpaid fees, expenses and indemnities then due to each of them with rolling twelve-month limit of $500K

US Bank Trustee - Annual Administrative Fee

$ 2,083   

US Bank Back Up Servicer - Annual Administrative Fee

$ 2,117   

US Bank Custodian - Monthly Fees

$ 150   

US Bank Lockbox Fees

$ 758   
    

 

 

 

Total due to Trustee/Owner Trustee/Backup Servicer/Custodian/Lockbox Bank fees/Rating Agency

$ 5,109   
The Servicing Fee shall be equal to the sum of the product of: (i) one-twelfth of 2.00% (or, with respect to the first Collection Period, a fraction equal to the number of days from and including the Cutoff Date through and including January 15, 2013 over 360) and (ii) the Aggregate Outstanding Pool Balance as of the beginning of the related Collection Period.     
(2) Servicer or any Successor Servicer, any previously unreimbursed Scheduled Payment Advances, Servicing Advances, the Servicing Fee for the related calendar month, any supplemental servicing fees for the related calendar month, any reimbursements for mistaken deposits and other related amounts and certain other amounts due on the Loans that the Servicer is entitled to retain; to the Seller, amounts deposited into the Lockbox Account but not related to interest, principal or extension fees due on the Loans; a one-time servicer engagement fee to the Backup Servicer (upon becoming Successor Servicer) of $125K; and costs and expenses, if any, incurred by the Trustee or by any Successor Servicer (including the Backup Servicer) in connection with the transfer of servicing to any Successor Servicer, which shall not exceed $50K for a servicing transfer to the Backup Servicer or 175K to any other Successor Servicer $ —     

First day of collection period

  January 5, 2014   

Aggregate Outstanding Pool Balance as of beginning of Collection Period

$ 178,725,896   

Applicable Servicing Fee %

  2.00

Number of Days to calculate

  0.08   
    

 

 

 

Total Servicing Fee

$ 297,876   
(3) Accrued interest due on the Notes, which is the sum of (i) the aggregate amount of interest due and accrued for the related Interest Period on the Notes; and (ii) the excess, if any, of the amount of interest remaining due and payable on the Notes on prior Payment Dates over the amounts in respect of interest actually paid on the Notes on such Payment Dates, plus interest on any such shortfall at the interest rate for the Notes

Outstanding Balance of Notes After Last Payment Date

$ 76,869,810   

Applicable Rate

  3.32
  

 

 

   

Interest due and accrued for related interest period

$ 212,673   

Interest unpaid and due from prior payment date

$ —     

Plus interest on interest unpaid and due from prior payment date

$ —     

Total Accrued Interest Due

$ 212,673   
(4) Principal on the Notes in the amounts required under “Principal Collections” below, but only to the extent not paid in full from Principal Collections

Outstanding Balance of Notes After Last Payment Date

$ 76,869,810   

Target Principal Amortization

$ 2,208,438   

Principal Payments Received from Principal Collections

$ (2,208,438

Principal Payments Received from Reserve Account

$ —     

Principal Payments Received from Interest Collections

$ —      $ —     
    

 

 

 

Note Balance after Principal Payment

$ 74,661,372   
(5) Pay each of the Trustee, the Owner Trustee, the Backup Servicer, any Successor Servicer, the Custodian and the Lockbox Bank, pro rata, any fees and expenses then due to such party that are in excess of the related cap or annual limitation $ —     

(6) Pay all remaining amounts to the Certificateholder

  858,390   

Principal Collections

$ 3,831,702   
(1) Pay the amounts under “Interest Collections”, but only to the extent not paid in full from Interest Collections $ —     
(2) (A) for so long as no Rapid Amortization Event has occurred, to pay principal on the Notes in an amount equal to the excess, if any, of the outstanding principal amount of the Notes over the Borrowing Base and (B)following the occurrence of any Rapid Amortization Event, to pay outstanding principal on the Notes until the outstanding principal balance of the Notes is reduced to zero $ 2,208,438   
(3) Pay the remaining outstanding principal balance of the Notes on the Legal Final Payment Date $ —     
(4) The amount on deposit in the Reserve Account is more than the Reserve Account Required Balance, to the Certificateholder, the balance in the Reserve Account that is in excess of 7.5% of the Aggregate Outstanding Principal Balance of the Notes after taking into account paydowns on the Notes made on the applicable Payment Date $ (165,633
(5) Pay the amounts referred to in clause (5) under “Interest Collections” above, but only to the extent not paid in full from Interest Collections; $ —     
(6) Pay all remaining amounts to the Certificateholder $ 1,788,897   

 

Hercules Capital Funding Trust 2012-1
Monthly Servicing Report for the Collection Period Ending February 4, 2014 Page 3 of 8


Borrowing Base and Required Note Payments

As of:

   February 4, 2014   

 

First Day of Collection Period

   January 5, 2014   

Last Day of Collection Period

   February 4, 2014   

Payment Date

   February 17, 2014   

 

Borrowing Base

             
  

Adjusted Pool Balance

          
    

Pool Balance

         $ 158,426,727   
    

Total Excess Concentration Amount

         $ (38,005,160
    

Outstanding Balance of all Delinquent Loans

         $ —     
    

Outstanding Balance of all Restructured Loans

         $ —     
             

 

 

 
Total Adjusted Pool Balance $ 120,421,567   

Advance Rate

  62.0
             

 

 

 
$ 74,661,372   
             

 

 

 

Borrowing Base

Beginning Outstanding Note Balance

$ 76,869,810   

Rapid Amortization

$ —     
             

 

 

 

Required Payment on Notes

$ 2,208,438   

Rapid Amortization Event

Restructured Loan

Loan that has been, or in accordance with the Credit Monitoring Guidelines is required to be, modified or restructured to extend the maturity thereof or reduce the amount (other than by reason of the repayment thereof) or extend the time for payment of principal thereof, in each case as a result of the Obligor’s material financial underperformance, distress or default. Such Loan shall cease to be a Restructured Loan when such Loan has been performing for at least six consecutive months since the date the most recent modification was made and is no longer required to be so modified or restructured in accordance with the Credit Monitoring Guidelines.

 

Reporting Date

   Obligor Name    Modification Date    Loan Balance    Total Restructured Amt
in last 6 months

 

Delinquent Loan

              
   Loan which is more than forty-five (45) days delinquent in payment; provided, however, that any Loan that has been substituted and replaced by the Issuer with a Substitute Loan pursuant to Section 2.04 and Section 2.06 will not be deemed to be a Delinquent Loan.   

 

     Days of Delinquency         
     31 to 59      60 to 89      90+      Total  

N/A

   $ —         $ —         $ —         $ —     

Total

   $ —         $ —         $ —         $ —     

 

Defaulted Loan

     
   Loan in the Collateral as to which the earliest of the following has occurred: (i) any payment, or any part of any payment in excess of 90%, due under such Loan (taking into account any waivers or modifications granted by the Servicer on such Loan) has become 120 days or more delinquent, whether or not the Servicer has foreclosed upon the related Collateral or if the related obligor is insolvent or has declared bankruptcy and the Loan is more than 180 days delinquent; (ii) the Servicer has foreclosed upon and sold the related collateral; (iii) 90 days has elapsed since the related Collateral was foreclosed upon by the Servicer; or (iv) the Servicer has determined in accordance with its customary practices that the Loan is uncollectible or the final recoverable amounts have been received.   

 

Reporting Date

   Obligor Name    Defaulted Date    Loan Balance    Days of Default

N/A

           

 

Aggregate Outstanding Principal Balance of the Notes exceeds the Borrowing Base for a period of three (3) consecutive calendar months   

 

Date

   Ending Outstanding
Note Balances
   Borrowing Base    Balance > Borrowing
Base
    

N/A

              

 

Loans in the Collateral consist of Loans to 10 or fewer Obligors

              

 

     Obligor Count    Count >
10
    

N/A

        

 

An Event of Default         
N/A         

 

 

Hercules Capital Funding Trust 2012-1   
Monthly Servicing Report for the Collection Period Ending February 4, 2014    Page 4 of 8


Pool Balance, Note and General Reserve Schedules

 

Pool Balance

   

Note Balances

 

Ending

Collection

Period Date

  Beginning
Pool Balance
    Ending Pool
Balance
   

Payment

Date

  Beginning
Balance
    Principal
Payment
    Ending
Balance
    Note
Factor
    Note
Interest
Paid
    Cumulative
Interest
Paid
 

January 4, 2013

  $ 230,681,409      $ 224,940,814      January 16, 2013     129,300,000        5,781,416        123,518,584        0.9553        321,957        321,957   

February 4, 2013

  $ 224,940,814      $ 222,584,218      February 19, 2013     123,518,584        1,576,420        121,942,164        0.9431        375,908        697,865   

March 4, 2013

  $ 222,584,218      $ 219,853,292      March 18, 2013     121,942,164        1,890,769        120,051,395        0.9285        337,373        1,035,239   

April 4, 2013

  $ 219,853,292      $ 213,275,244      April 16, 2013     120,051,395        5,375,752        114,675,643        0.8869        332,142        1,367,381   

May 4, 2013

  $ 213,275,244      $ 210,005,171      May 16, 2013     114,675,643        2,133,032        112,542,610        0.8704        317,269        1,684,650   

June 4, 2013

  $ 210,005,171      $ 206,578,601      June 17, 2013     112,542,610        2,273,025        110,269,586        0.8528        311,368        1,996,018   

July 3, 2013

  $ 206,578,601      $ 202,809,422      July 16, 2013     110,269,586        2,564,881        107,704,704        0.8330        305,079        2,301,097   

August 2, 2013

  $ 202,809,422      $ 199,038,413      August 16, 2013     107,704,704        2,566,154        105,138,550        0.8131        297,983        2,599,080   

September 3, 2013

  $ 199,038,413      $ 194,941,027      September 16, 2013     105,138,550        2,664,395        102,474,155        0.7925        290,883        2,889,963   

October 4, 2013

  $ 194,941,027      $ 185,845,674      October 16, 2013     102,474,155        7,022,406        95,451,748        0.7382        283,059        3,173,022   

November 4, 2013

  $ 185,845,674      $ 181,441,387      November 18, 2013     95,451,748        2,986,838        92,464,911        0.7151        264,083        3,437,106   

December 4, 2013

  $ 181,441,387      $ 177,158,512      December 16, 2013     92,464,911        2,907,939        89,556,972        0.6926        255,820        3,692,925   

January 4, 2014

  $ 177,158,512      $ 161,607,770      January 16, 2014     89,556,972        12,687,162        76,869,810        0.5945        247,774        3,940,699   

February 4, 2014

  $ 161,607,770      $ 158,426,727      February 17, 2014     76,869,810        2,208,438        74,661,372        0.5774        212,673        4,153,373   

 

General Reserve Account

 

Payment Date

  Beginning
Balance
    Plus: Required
Deposits
    Plus:
Interest
    Less: Excess over
General Reserve
Account Required
Balance
    Less:
Withdrawal
for Insufficient
Funds for
Required
Payments
    Less:
Withdrawal due
to Event of
Default
    Ending Balance     Reserve Balance
as a % of the
Outstanding
Principal Balance

of the Notes
 

January 16, 2013

  $ —        $ —        $ —        $ —        $ —        $ —        $ —          0.00

February 19, 2013

  $ —        $ 390,088      $ —        $ —        $ —        $ —        $ 390,088        0.32

March 16, 2013

  $ 390,088      $ 420,079      $ —        $ —        $ —        $ —        $ 810,167        0.66

April 16, 2013

  $ 810,167      $ —        $ —        $ —        $ 243,520      $ —        $ 566,646        0.47

May 16, 2013

  $ 566,646      $ 568,520      $ —        $ —        $ —        $ —        $ 1,135,167        0.99

June 17, 2013

  $ 1,135,167      $ 522,647      $ —        $ —        $ —        $ —        $ 1,657,814        1.47

July 16, 2013

  $ 1,657,814      $ 602,149      $ —        $ —        $ —        $ —        $ 2,259,963        2.05

August 16, 2013

  $ 2,259,963      $ 602,427      $ —        $ —        $ —        $ —        $ 2,862,390        2.66

September 16, 2013

  $ 2,862,390      $ 769,496      $ —        $ —        $ —        $ —        $ 3,631,886        3.45

October 16, 2013

  $ 3,631,886      $ 1,036,473      $ —        $ —        $ —        $ —        $ 4,668,359        4.56

November 18, 2013

  $ 4,668,359      $ 875,391      $ —        $ —        $ —        $ —        $ 5,543,750        5.81

December 16, 2013

  $ 5,543,750      $ 727,468      $ —        $ —        $ —        $ —        $ 6,271,218        6.78

January 16, 2014

  $ 6,271,218      $ —        $ —        $ 505,982      $ —        $ —        $ 5,765,236        7.50

February 17, 2014

  $ 5,765,236      $ —        $ —        $ 165,633      $ —        $ —        $ 5,599,603        7.50

 

Hercules Capital Funding Trust 2012-1   
Monthly Servicing Report for the Collection Period Ending February 4, 2014    Page 5 of 8


Pool Balance (by Obligor) Concentration

 

Obligor Count

  21   

 

Loan Status

   Loan Balance      % of
Loan Balance
 

Current

   $ 158,426,727         100

Restructured

   $ —           0

Defaulted

   $ —           0

Delinquent

   $ —           0
  

 

 

    

 

 

 

TOTAL

$ 158,426,727      100
  

 

 

    

 

 

 

 

Concentration Limits percentage of Loan Balance

  5   23   44

Concentration Limits in Dollars

$ 7,921,336    $ 36,438,147    $ 69,707,760   
     Single Obligor     Top Five     Top Ten  

Excess Concentration

      

OBLIGOR #14

   $ (6,210,396    

OBLIGOR #8

   $ (5,279,901    

OBLIGOR #25

   $ (3,293,426    

OBLIGOR #18

   $ (2,413,414    

OBLIGOR #26

   $ (2,078,664   $ (22,444,335  

OBLIGOR #13

   $ (2,078,664    

OBLIGOR #23

   $ (2,078,664    

OBLIGOR #28

   $ (2,078,664    

OBLIGOR #7

   $ (1,840,336    

OBLIGOR #16

   $ (1,147,428     $ (38,005,160

OBLIGOR #5

   $ (481,551    
  

 

 

   

 

 

   

 

 

 

Total

$ (28,981,107 $ (22,444,335 $ (38,005,160
  

 

 

   

 

 

   

 

 

 

 

Total Excess Concentration Amount

$ (38,005,160

Adjusted Pool Balance

$ 120,421,567   

 

Hercules Capital Funding Trust 2012-1
Monthly Servicing Report for the Collection Period Ending February 4, 2014 Page 6 of 8


Pool Balance and Note Schedules

 

Pool Balance

 

Ending Collection

Period Date

  Beginning Principal     Principal Collections*     Adjustment For
Substitution
    Other Collections     Ending Balance     Collateral Interest
Received
    Other
Collections
    Total Collections  

December 19, 2012

  $ 230,681,409      $ —        $ —          $ 230,681,409      $ —        $ —        $ —     

January 4, 2013

  $ 230,681,409      $ 5,740,595      $ —          $ 224,940,814      $ 2,084,457      $ —        $ 7,825,052   

February 4, 2013

  $ 224,940,814      $ 2,356,596      $ —          $ 222,584,218      $ 1,981,727      $ —        $ 4,338,323   

March 4, 2013

  $ 222,584,218      $ 2,730,927      $ —          $ 219,853,292      $ 1,770,085      $ —        $ 4,501,012   

April 4, 2013

  $ 219,853,292      $ 3,900,558      $ 2,677,489        $ 213,275,244      $ 1,935,178      $ 18,050      $ 5,853,787   

May 4, 2013

  $ 213,275,244      $ 3,270,073      $ —          $ 210,005,171      $ 1,846,576      $ —        $ 5,116,649   

June 4, 2013

  $ 210,005,171      $ 3,318,319      $ 108,251        $ 206,578,601      $ 1,977,416      $ —        $ 5,295,735   

July 3, 2013

  $ 206,578,601      $ 3,769,179      $ —          $ 202,809,422      $ 1,781,618      $ —        $ 5,550,798   

August 2, 2013

  $ 202,809,422      $ 3,771,009      $ —          $ 199,038,413      $ 1,805,042      $ —        $ 5,576,051   

September 3, 2013

  $ 199,038,413      $ 4,097,386      $ —        $ 106,000      $ 194,941,027      $ 1,784,734      $ —        $ 5,988,120   

October 4, 2013

  $ 194,941,027      $ 9,095,353      $ —          $ 185,845,674      $ 1,608,996      $ —        $ 10,704,349   

November 4, 2013

  $ 185,845,674      $ 4,099,288      $ 305,000      $ 333,333      $ 181,441,387      $ 1,634,167      $ —        $ 6,371,788   

December 4, 2013

  $ 181,441,387      $ 4,282,874      $ —        $ 80,000      $ 177,158,512      $ 1,573,172      $ —        $ 5,936,046   

January 4, 2014

  $ 177,158,512      $ 15,550,742      $ —        $ 12,383      $ 161,607,770      $ 1,555,000      $ —        $ 17,118,125   

February 4, 2014

  $ 161,607,770      $ 3,181,044      $ —        $ 650,659      $ 158,426,727      $ 1,374,048      $ —        $ 5,205,750   

 

Note Balance - Class A Notes

 

Payment Date

   Beginning Principal      Principal Paydown        Ending Balance      Note Factor  

December 19, 2012

   $ 129,300,000            $ 129,300,000         1.000000   

January 16, 2013

   $ 129,300,000       $ 5,781,416         $ 123,518,584         0.955287   

February 19, 2013

   $ 123,518,584       $ 1,576,420         $ 121,942,164         0.943095   

March 18, 2013

   $ 121,942,164       $ 1,890,769         $ 120,051,395         0.928472   

April 16, 2013

   $ 120,051,395       $ 5,375,752         $ 114,675,643         0.886896   

May 16, 2013

   $ 114,675,643       $ 2,133,032         $ 112,542,610         0.870399   

June 17, 2013

   $ 112,542,610       $ 2,273,025         $ 110,269,586         0.852820   

July 16, 2013

   $ 110,269,586       $ 2,564,881         $ 107,704,704         0.832983   

August 16, 2013

   $ 107,704,704       $ 2,566,154         $ 105,138,550         0.813137   

September 16, 2013

   $ 105,138,550       $ 2,664,395         $ 102,474,155         0.792530   

October 16, 2013

   $ 102,474,155       $ 7,022,406         $ 95,451,748         0.738219   

November 18, 2013

   $ 95,451,748       $ 2,986,838         $ 92,464,911         0.715119   

December 16, 2013

   $ 92,464,911       $ 2,907,939         $ 89,556,972         0.692629   

January 16, 2014

   $ 89,556,972       $ 12,687,162         $ 76,869,810         0.594507   

February 17, 2014

   $ 76,869,810       $ 2,208,438         $ 74,661,372         0.577427   

 

* Principal Collections can potentially include fees and other payments

 

Hercules Capital Funding Trust 2012-1   
Monthly Servicing Report for the Collection Period Ending February 4, 2014    Page 7 of 8


Pool Balance - End of Period

 

OBLIGOR
NAME
Dec-12   Jan-13   Feb-13   Mar-13   Apr-13   May-13   Jun-13   Jul-13   Aug-13   Sep-13   Oct-13   Nov-13   Dec-13   Jan-14   Feb-14  

OBLIGOR #1

$ 8,172,429    $ 7,861,069    $ 7,547,429    $ 7,226,148    $ 6,907,861    $ 6,585,614    $ 6,262,639    $ 5,935,821    $ 5,608,090    $ 5,277,960    $ 4,944,167    $ 4,609,177    $ 4,270,648    $ —      $ —     

OBLIGOR #2

$ 5,052,335    $ 4,572,047    $ 4,087,313    $ 3,594,431    $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #3

$ 9,230,769    $ 8,846,154    $ 8,461,538    $ 8,076,923    $ 7,692,308    $ 7,307,692    $ 6,923,077    $ 6,538,462    $ 6,153,846    $ 5,769,231    $ 5,384,615    $ 5,000,000    $ 4,615,385    $ 4,230,769    $ 3,846,154   

OBLIGOR #4

$ 11,292,550    $ 10,871,709    $ 10,447,046    $ 10,009,339    $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #5

$ 12,555,645    $ 12,555,645    $ 12,555,645    $ 12,555,645    $ 12,198,390    $ 11,833,442    $ 11,468,786    $ 11,096,603    $ 10,724,397    $ 10,348,377    $ 9,965,083    $ 9,581,282    $ 9,190,380    $ 8,798,641    $ 8,402,887   

OBLIGOR #6

$ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ —      $ —      $ —      $ —      $ —     

OBLIGOR #7

$ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673   

OBLIGOR #8

$ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 14,553,670    $ 14,107,639    $ 13,654,431    $ 13,201,238    $ 13,201,238   

OBLIGOR #9

$ 3,822,324    $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #10

$ 1,000,000    $ 1,000,000    $ 1,000,000    $ 966,343    $ 933,243    $ 899,586    $ 865,897    $ 831,664    $ 797,375    $ 762,784    $ 727,670    $ 692,464    $ 656,749    $ 620,917    $ 584,768   

OBLIGOR #11

$ 3,758,211    $ 3,563,606    $ 3,367,447    $ 3,167,242    $ 2,968,011    $ 2,766,494    $ 2,564,157    $ 2,359,611    $ 2,154,121    $ 1,947,038    $ 1,737,864    $ 1,527,555    $ 1,315,235    $ 1,101,651    $ 886,411   

OBLIGOR #12

$ 8,000,000    $ 8,000,000    $ 8,000,000    $ 8,000,000    $ 7,703,704    $ 7,407,407    $ 7,111,111    $ 6,814,815    $ 6,518,519    $ 6,222,222    $ 5,925,926    $ 5,629,630    $ 5,333,333    $ 5,037,037    $ 4,740,741   

OBLIGOR #13

$ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000   

OBLIGOR #14

$ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 14,567,912    $ 14,131,732   

OBLIGOR #15

$ 5,000,000    $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 4,880,240    $ 4,760,835    $ 4,640,408    $ 4,517,666    $ 4,395,155    $ 4,270,380    $ 4,145,750    $ 4,020,052   

OBLIGOR #16

$ 15,000,000    $ 15,000,000    $ 14,573,778    $ 14,128,579    $ 13,693,352    $ 13,249,064    $ 12,804,749    $ 12,351,575    $ 11,897,986    $ 11,439,710    $ 10,972,886    $ 10,505,051    $ 10,028,879    $ 9,551,290    $ 9,068,764   

OBLIGOR #17

$ 10,000,000    $ 10,000,000    $ 10,000,000    $ 9,711,183    $ 9,428,358    $ 9,140,353    $ 8,852,490    $ 8,559,565    $ 8,266,576    $ 7,971,001    $ 7,670,547    $ 7,369,711    $ 7,064,121    $ 6,757,933    $ 6,449,041   

OBLIGOR #18

$ 13,749,133    $ 13,749,133    $ 13,749,133    $ 13,749,133    $ 11,749,133    $ 11,389,840    $ 11,030,718    $ 10,665,363    $ 10,299,863    $ 9,931,335    $ 9,556,937    $ 9,249,519    $ 8,801,783    $ 8,420,762    $ 8,420,762   

OBLIGOR #18

$ 2,000,000    $ 2,000,000    $ 2,000,000    $ 2,000,000    $ 2,000,000    $ 2,000,000    $ 2,000,000    $ 2,000,000    $ 2,000,000    $ 1,913,989    $ 1,913,989   

OBLIGOR #19

$ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 9,711,251    $ 9,422,842    $ 9,131,539    $ 4,031,539    $ —      $ —      $ —      $ —     

OBLIGOR #20

$ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000   

OBLIGOR #21

$ 5,000,000    $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 4,845,939    $ 4,690,274    $ 4,534,612    $ 4,377,391    $ 4,220,113    $ 4,062,022    $ 3,902,438    $ 3,742,706    $ 3,581,525    $ —      $ —     

OBLIGOR #21

$ 5,000,000    $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 4,851,509    $ 4,700,720    $ 4,549,975    $ 4,396,987    $ 4,243,953    $ 4,089,765    $ 3,933,422    $ 3,776,895    $ 3,618,270    $ —      $ —     

OBLIGOR #22

$ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 5,833,332    $ 5,666,665    $ 5,499,997    $ 5,333,329   

OBLIGOR #23

$ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000   

OBLIGOR #24

$ 8,283,251    $ 8,156,689    $ 8,030,126    $ 7,903,564    $ 7,777,001    $ 7,608,251    $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #25

$ 8,000,000    $ 8,000,000    $ 8,000,000    $ 8,000,000    $ 8,000,000    $ 7,900,000    $ 7,800,000    $ 7,700,000    $ 7,600,000    $ 7,200,000    $ 7,100,000    $ 7,000,000    $ 6,900,000    $ 6,800,000    $ 6,700,000   

OBLIGOR #25

$ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762   

OBLIGOR #26

$ —      $ —      $ —      $ —      $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000   

OBLIGOR #27

$ —      $ —      $ —      $ —      $ —      $ —      $ 7,283,956    $ 7,063,640    $ 6,843,463    $ 6,621,201    $ 6,394,809    $ 6,168,297    $ 5,937,754    $ 5,706,912    $ 5,473,884   

OBLIGOR #28

$ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000   

OBLIGOR #29

$ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ 3,726,539    $ 3,726,539    $ 3,726,539    $ 3,726,539   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

TOTAL

$ 230,681,409    $ 224,940,814    $ 222,584,218    $ 219,853,292    $ 213,275,244    $ 210,005,171    $ 206,578,601    $ 202,809,422    $ 199,038,413    $ 194,941,027    $ 185,845,674    $ 181,441,387    $ 177,158,512    $ 161,607,770    $ 158,426,727   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

 

Hercules Capital Funding Trust 2012-1
Monthly Servicing Report for the Collection Period Ending February 4, 2014 Page 8 of 8


 

LOGO

Monthly Servicer Report

On Behalf of Hercules Capital Funding Trust 2012-1

Prepared: For the collection period ending March 4, 2014

 

Hercules Capital Funding Trust 2012-1
Monthly Servicing Report for the Collection Period Ending March 4, 2014 Page 1 of 8


Monthly Servicer Report

On Behalf of Hercules Capital Funding Trust 2012-1

 

First Day of Collection Period February 5, 2014
Last Day of Collection Period March 4, 2014
Payment Date March 17, 2014

Available Funds

On each Payment Date, payments on the Notes will be made from the following sources (collectively, “Available Funds”):

 

Obligor payments

Interest Received

$ 1,360,269   

Principal Received

$ 16,715,823   

Other Obligor Payments

$ 661,525   

Obligor payments received with respect to the Loans during the preceding Collection Period;

$ 18,737,617   
  

 

 

 

Liquidation proceeds received with respect to the Loans during the preceding Collection Period;

$ —     

Interest earned on funds on deposit in the Collection Account, the Interest Reserve Account and the Expense Reserve Account;

Proceeds from any optional sale of Loans;

$ —     

Payments made by the Seller, the Depositor or the Servicer in connection with the required repurchase or purchase of Loans; and

$ —     

Scheduled Payment Advances

$ —     
  

 

 

 

Total Available Funds

$ 18,737,617   
  

 

 

 

 

Hercules Capital Funding Trust 2012-1
Monthly Servicing Report for the Collection Period Ending March 4, 2014 Page 2 of 8


Waterfall Calculations

 

Interest Collections

$ 1,360,269   
(1) Trustee, the Owner Trustee, the Backup Servicer, the Custodian and the Lockbox Bank, pro rata, any accrued and unpaid fees, expenses and indemnities then due to each of them with rolling twelve-month limit of $500K

US Bank Trustee - Annual Administrative Fee

$ 2,083   

US Bank Back Up Servicer - Annual Administrative Fee

$ 2,000   

US Bank Custodian - Monthly Fees

$ 150   

US Bank Lockbox Fees

$ —     
    

 

 

 

Total due to Trustee/Owner Trustee/Backup Servicer/Custodian/Lockbox Bank fees/Rating Agency

$ 4,234   
The Servicing Fee shall be equal to the sum of the product of: (i) one-twelfth of 2.00% (or, with respect to the first Collection Period, a fraction equal to the number of days from and including the Cutoff Date through and including January 15, 2013 over 360) and (ii) the Aggregate Outstanding Pool Balance as of the beginning of the related Collection Period.
(2) Servicer or any Successor Servicer, any previously unreimbursed Scheduled Payment Advances, Servicing Advances, the Servicing Fee for the related calendar month, any supplemental servicing fees for the related calendar month, any reimbursements for mistaken deposits and other related amounts and certain other amounts due on the Loans that the Servicer is entitled to retain; to the Seller, amounts deposited into the Lockbox Account but not related to interest, principal or extension fees due on the Loans; a one-time servicer engagement fee to the Backup Servicer (upon becoming Successor Servicer) of $125K; and costs and expenses, if any, incurred by the Trustee or by any Successor Servicer (including the Backup Servicer) in connection with the transfer of servicing to any Successor Servicer, which shall not exceed $50K for a servicing transfer to the Backup Servicer or 175K to any other Successor Servicer $ —     

First day of collection period

  February 5, 2014   

Aggregate Outstanding Pool Balance as of beginning of Collection Period

$ 163,632,477   

Applicable Servicing Fee %

  2.00

Number of Days to calculate

  0.08   
    

 

 

 

Total Servicing Fee

$ 272,721   
(3) Accrued interest due on the Notes, which is the sum of (i) the aggregate amount of interest due and accrued for the related Interest Period on the Notes; and (ii) the excess, if any, of the amount of interest remaining due and payable on the Notes on prior Payment Dates over the amounts in respect of interest actually paid on the Notes on such Payment Dates, plus interest on any such shortfall at the interest rate for the Notes

Outstanding Balance of Notes After Last Payment Date

$ 74,661,372   

Applicable Rate

  3.32
  

 

 

   

Interest due and accrued for related interest period

$ 206,563   

Interest unpaid and due from prior payment date

$ —     

Plus interest on interest unpaid and due from prior payment date

$ —     

Total Accrued Interest Due

$ 206,563   
(4) Principal on the Notes in the amounts required under “Principal Collections” below, but only to the extent not paid in full from Principal Collections

Outstanding Balance of Notes After Last Payment Date

$ 74,661,372   

Target Principal Amortization

$ 10,879,422   

Principal Payments Received from Principal Collections

$ (10,879,422

Principal Payments Received from Reserve Account

$ —     

Principal Payments Received from Interest Collections

$ —      $ —     
    

 

 

 

Note Balance after Principal Payment

$ 63,781,949   
(5) Pay each of the Trustee, the Owner Trustee, the Backup Servicer, any Successor Servicer, the Custodian and the Lockbox Bank, pro rata, any fees and expenses then due to such party that are in excess of the related cap or annual limitation $ —     
(6) Pay all remaining amounts to the Certificateholder   876,752   

Principal Collections

$ 17,377,348   
(1) Pay the amounts under “Interest Collections”, but only to the extent not paid in full from Interest Collections $ —     
(2) (A) for so long as no Rapid Amortization Event has occurred, to pay principal on the Notes in an amount equal to the excess, if any, of the outstanding principal amount of the Notes over the Borrowing Base and (B) following the occurrence of any Rapid Amortization Event, to pay outstanding principal on the Notes until the outstanding principal balance of the Notes is reduced to zero $ 10,879,422   
(3) Pay the remaining outstanding principal balance of the Notes on the Legal Final Payment Date $ —     
(4) The amount on deposit in the Reserve Account is more than the Reserve Account Required Balance, to the Certificateholder, the balance in the Reserve Account that is in excess of 7.5% of the Aggregate Outstanding Principal Balance of the Notes after taking into account paydowns on the Notes made on the applicable Payment Date $ (815,957
(5) Pay the amounts referred to in clause (5) under “Interest Collections” above, but only to the extent not paid in full from Interest Collections; $ —     
(6) Pay all remaining amounts to the Certificateholder $ 7,313,882   

 

Hercules Capital Funding Trust 2012-1
Monthly Servicing Report for the Collection Period Ending March 4, 2014 Page 3 of 8


Borrowing Base and Required Note Payments
As of:    March 4, 2014

 

First Day of Collection Period

   February 5, 2014   

Last Day of Collection Period

   March 4, 2014   

Payment Date

   March 17, 2014   

 

Borrowing Base

             
  

Adjusted Pool Balance

          
    

Pool Balance

         $ 141,710,903   
    

Total Excess Concentration Amount

         $ (38,836,792
    

Outstanding Balance of all Delinquent Loans

         $ —     
    

Outstanding Balance of all Restructured Loans

         $ —     
             

 

 

 
Total Adjusted Pool Balance $ 102,874,112   

Advance Rate

  62.0
             

 

 

 
$ 63,781,949   
             

 

 

 

Borrowing Base

Beginning Outstanding Note Balance

$ 74,661,372   

Rapid Amortization

$ —     
             

 

 

 

Required Payment on Notes

$ 10,879,422   

Rapid Amortization Event

Restructured Loan

Loan that has been, or in accordance with the Credit Monitoring Guidelines is required to be, modified or restructured to extend the maturity thereof or reduce the amount (other than by reason of the repayment thereof) or extend the time for payment of principal thereof, in each case as a result of the Obligor’s material financial underperformance, distress or default. Such Loan shall cease to be a Restructured Loan when such Loan has been performing for at least six consecutive months since the date the most recent modification was made and is no longer required to be so modified or restructured in accordance with the Credit Monitoring Guidelines.

 

Reporting Date

   Obligor Name    Modification Date    Loan Balance    Total Restructured Amt
in last 6 months

 

Delinquent Loan

             
   Loan which is more than forty-five (45) days delinquent in payment; provided, however, that any Loan that has been substituted and replaced by the Issuer with a Substitute Loan pursuant to Section 2.04 and Section 2.06 will not be deemed to be a Delinquent Loan.   

 

     Days of Delinquency         
     31 to 59      60 to 89      90+      Total  

N/A

   $ —         $ —         $ —         $ —     

Total

   $ —         $ —         $ —         $ —     

 

Defaulted Loan

              
   Loan in the Collateral as to which the earliest of the following has occurred: (i) any payment, or any part of any payment in excess of 90%, due under such Loan (taking into account any waivers or modifications granted by the Servicer on such Loan) has become 120 days or more delinquent, whether or not the Servicer has foreclosed upon the related Collateral or if the related obligor is insolvent or has declared bankruptcy and the Loan is more than 180 days delinquent; (ii) the Servicer has foreclosed upon and sold the related collateral; (iii) 90 days has elapsed since the related Collateral was foreclosed upon by the Servicer; or (iv) the Servicer has determined in accordance with its customary practices that the Loan is uncollectible or the final recoverable amounts have been received.   

 

Reporting Date

   Obligor Name    Defaulted Date    Loan Balance    Days of Default

N/A

           

 

Aggregate Outstanding Principal Balance of the Notes exceeds the Borrowing Base for a period of three (3) consecutive calendar months   

 

Date

   Ending Outstanding
Note Balances
   Borrowing Base    Balance > Borrowing
Base
    

N/A

              

 

Loans in the Collateral consist of Loans to 10 or fewer Obligors

              

 

     Obligor Count    Count
> 10
    

N/A

        

 

An Event of Default

              

 

           

N/A

  

 

Hercules Capital Funding Trust 2012-1   
Monthly Servicing Report for the Collection Period Ending March 4, 2014    Page 4 of 8


Pool Balance, Note and General Reserve Schedules

 

Pool Balance

   

Note Balances

 

Ending

Collection

Period Date

  Beginning
Pool Balance
    Ending Pool
Balance
   

Payment

Date

  Beginning
Balance
    Principal
Payment
    Ending
Balance
    Note
Factor
    Note
Interest
Paid
    Cumulative
Interest
Paid
 

January 4, 2013

  $ 230,681,409      $ 224,940,814      January 16, 2013     129,300,000        5,781,416        123,518,584        0.9553        321,957        321,957   

February 4, 2013

  $ 224,940,814      $ 222,584,218      February 19, 2013     123,518,584        1,576,420        121,942,164        0.9431        375,908        697,865   

March 4, 2013

  $ 222,584,218      $ 219,853,292      March 18, 2013     121,942,164        1,890,769        120,051,395        0.9285        337,373        1,035,239   

April 4, 2013

  $ 219,853,292      $ 213,275,244      April 16, 2013     120,051,395        5,375,752        114,675,643        0.8869        332,142        1,367,381   

May 4, 2013

  $ 213,275,244      $ 210,005,171      May 16, 2013     114,675,643        2,133,032        112,542,610        0.8704        317,269        1,684,650   

June 4, 2013

  $ 210,005,171      $ 206,578,601      June 17, 2013     112,542,610        2,273,025        110,269,586        0.8528        311,368        1,996,018   

July 3, 2013

  $ 206,578,601      $ 202,809,422      July 16, 2013     110,269,586        2,564,881        107,704,704        0.8330        305,079        2,301,097   

August 2, 2013

  $ 202,809,422      $ 199,038,413      August 16, 2013     107,704,704        2,566,154        105,138,550        0.8131        297,983        2,599,080   

September 3, 2013

  $ 199,038,413      $ 194,941,027      September 16, 2013     105,138,550        2,664,395        102,474,155        0.7925        290,883        2,889,963   

October 4, 2013

  $ 194,941,027      $ 185,845,674      October 16, 2013     102,474,155        7,022,406        95,451,748        0.7382        283,059        3,173,022   

November 4, 2013

  $ 185,845,674      $ 181,441,387      November 18, 2013     95,451,748        2,986,838        92,464,911        0.7151        264,083        3,437,106   

December 4, 2013

  $ 181,441,387      $ 177,158,512      December 16, 2013     92,464,911        2,907,939        89,556,972        0.6926        255,820        3,692,925   

January 4, 2014

  $ 177,158,512      $ 161,607,770      January 16, 2014     89,556,972        12,687,162        76,869,810        0.5945        247,774        3,940,699   

February 4, 2014

  $ 161,607,770      $ 158,426,727      February 17, 2014     76,869,810        2,208,438        74,661,372        0.5774        212,673        4,153,373   

March 4, 2014

  $ 158,426,727      $ 141,710,903      March 17, 2014     74,661,372        10,879,422        63,781,949        0.4933        206,563        4,359,936   

 

General Reserve Account

 

Payment Date

  Beginning
Balance
    Plus: Required
Deposits
    Plus:
Interest
    Less: Excess over
General Reserve
Account Required
Balance
    Less:
Withdrawal
for Insufficient
Funds for
Required
Payments
    Less:
Withdrawal due
to Event of
Default
    Ending Balance     Reserve Balance
as a % of the
Outstanding
Principal Balance

of the Notes
 

January 16, 2013

  $ —        $ —        $ —        $ —        $ —        $ —        $ —          0.00

February 19, 2013

  $ —        $ 390,088      $ —        $ —        $ —        $ —        $ 390,088        0.32

March 16, 2013

  $ 390,088      $ 420,079      $ —        $ —        $ —        $ —        $ 810,167        0.66

April 16, 2013

  $ 810,167      $ —        $ —        $ —        $ 243,520      $ —        $ 566,646        0.47

May 16, 2013

  $ 566,646      $ 568,520      $ —        $ —        $ —        $ —        $ 1,135,167        0.99

June 17, 2013

  $ 1,135,167      $ 522,647      $ —        $ —        $ —        $ —        $ 1,657,814        1.47

July 16, 2013

  $ 1,657,814      $ 602,149      $ —        $ —        $ —        $ —        $ 2,259,963        2.05

August 16, 2013

  $ 2,259,963      $ 602,427      $ —        $ —        $ —        $ —        $ 2,862,390        2.66

September 16, 2013

  $ 2,862,390      $ 769,496      $ —        $ —        $ —        $ —        $ 3,631,886        3.45

October 16, 2013

  $ 3,631,886      $ 1,036,473      $ —        $ —        $ —        $ —        $ 4,668,359        4.56

November 18, 2013

  $ 4,668,359      $ 875,391      $ —        $ —        $ —        $ —        $ 5,543,750        5.81

December 16, 2013

  $ 5,543,750      $ 727,468      $ —        $ —        $ —        $ —        $ 6,271,218        6.78

January 16, 2014

  $ 6,271,218      $ —        $ —        $ 505,982      $ —        $ —        $ 5,765,236        7.50

February 17, 2014

  $ 5,765,236      $ —        $ —        $ 165,633      $ —        $ —        $ 5,599,603        7.50

March 17, 2014

  $ 5,599,603      $ —        $ —        $ 815,957      $ —        $ —        $ 4,783,646        7.50

 

Hercules Capital Funding Trust 2012-1   
Monthly Servicing Report for the Collection Period Ending March 4, 2014    Page 5 of 8


Pool Balance (by Obligor) Concentration

 

Obligor Count

  20   

 

Loan Status

   Loan Balance      % of
Loan Balance
 

Current

   $ 141,710,903         100

Restructured

   $ —           0

Defaulted

   $ —           0

Delinquent

   $ —           0
  

 

 

    

 

 

 

TOTAL

$ 141,710,903      100
  

 

 

    

 

 

 

 

Concentration Limits percentage of Loan Balance

  5   23   44

Concentration Limits in Dollars

$ 7,085,545    $ 32,593,508    $ 62,352,797   
     Single Obligor     Top Five     Top Ten  

Excess Concentration

      

OBLIGOR #14

   $ (6,592,921    

OBLIGOR #25

   $ (4,029,217    

OBLIGOR #18

   $ (3,249,205    

OBLIGOR #26

   $ (2,914,455    

OBLIGOR #13

   $ (2,914,455   $ (22,534,471  

OBLIGOR #23

   $ (2,914,455    

OBLIGOR #7

   $ (2,676,128    

OBLIGOR #28

   $ (2,647,463    

OBLIGOR #16

   $ (1,486,639    

OBLIGOR #5

   $ (909,200     $ (38,836,792

OBLIGOR #20

   $ (164,455    
  

 

 

   

 

 

   

 

 

 

Total

$ (30,498,592 $ (22,534,471 $ (38,836,792
  

 

 

   

 

 

   

 

 

 

 

Total Excess Concentration Amount

$ (38,836,792

Adjusted Pool Balance

$ 102,874,112   

 

Hercules Capital Funding Trust 2012-1
Monthly Servicing Report for the Collection Period Ending March 4, 2014 Page 6 of 8


Pool Balance and Note Schedules

 

Pool Balance

 

Ending Collection

Period Date

  Beginning Principal     Principal Collections*     Adjustment For
Substitution
    Other Collections     Ending Balance     Collateral Interest
Received
    Other
Collections
    Total Collections  

December 19, 2012

  $ 230,681,409      $ —        $ —          $ 230,681,409      $ —        $ —        $ —     

January 4, 2013

  $ 230,681,409      $ 5,740,595      $ —          $ 224,940,814      $ 2,084,457      $ —        $ 7,825,052   

February 4, 2013

  $ 224,940,814      $ 2,356,596      $ —          $ 222,584,218      $ 1,981,727      $ —        $ 4,338,323   

March 4, 2013

  $ 222,584,218      $ 2,730,927      $ —          $ 219,853,292      $ 1,770,085      $ —        $ 4,501,012   

April 4, 2013

  $ 219,853,292      $ 3,900,558      $ 2,677,489        $ 213,275,244      $ 1,935,178      $ 18,050      $ 5,853,787   

May 4, 2013

  $ 213,275,244      $ 3,270,073      $ —          $ 210,005,171      $ 1,846,576      $ —        $ 5,116,649   

June 4, 2013

  $ 210,005,171      $ 3,318,319      $ 108,251        $ 206,578,601      $ 1,977,416      $ —        $ 5,295,735   

July 3, 2013

  $ 206,578,601      $ 3,769,179      $ —          $ 202,809,422      $ 1,781,618      $ —        $ 5,550,798   

August 2, 2013

  $ 202,809,422      $ 3,771,009      $ —          $ 199,038,413      $ 1,805,042      $ —        $ 5,576,051   

September 3, 2013

  $ 199,038,413      $ 4,097,386      $ —        $ 106,000      $ 194,941,027      $ 1,784,734      $ —        $ 5,988,120   

October 4, 2013

  $ 194,941,027      $ 9,095,353      $ —          $ 185,845,674      $ 1,608,996      $ —        $ 10,704,349   

November 4, 2013

  $ 185,845,674      $ 4,099,288      $ 305,000      $ 333,333      $ 181,441,387      $ 1,634,167      $ —        $ 6,371,788   

December 4, 2013

  $ 181,441,387      $ 4,282,874      $ —        $ 80,000      $ 177,158,512      $ 1,573,172      $ —        $ 5,936,046   

January 4, 2014

  $ 177,158,512      $ 15,550,742      $ —        $ 12,383      $ 161,607,770      $ 1,555,000      $ —        $ 17,118,125   

February 4, 2014

  $ 161,607,770      $ 3,181,044      $ —        $ 650,659      $ 158,426,727      $ 1,374,048      $ —        $ 5,205,750   

March 4, 2014

  $ 158,426,727      $ 16,715,823      $ —        $ 661,525      $ 141,710,903      $ 1,360,269      $ —        $ 18,737,617   

 

Note Balance - Class A Notes

 

Payment Date

   Beginning Principal      Principal Paydown        Ending Balance      Note Factor  

December 19, 2012

   $ 129,300,000            $ 129,300,000         1.000000   

January 16, 2013

   $ 129,300,000       $ 5,781,416         $ 123,518,584         0.955287   

February 19, 2013

   $ 123,518,584       $ 1,576,420         $ 121,942,164         0.943095   

March 18, 2013

   $ 121,942,164       $ 1,890,769         $ 120,051,395         0.928472   

April 16, 2013

   $ 120,051,395       $ 5,375,752         $ 114,675,643         0.886896   

May 16, 2013

   $ 114,675,643       $ 2,133,032         $ 112,542,610         0.870399   

June 17, 2013

   $ 112,542,610       $ 2,273,025         $ 110,269,586         0.852820   

July 16, 2013

   $ 110,269,586       $ 2,564,881         $ 107,704,704         0.832983   

August 16, 2013

   $ 107,704,704       $ 2,566,154         $ 105,138,550         0.813137   

September 16, 2013

   $ 105,138,550       $ 2,664,395         $ 102,474,155         0.792530   

October 16, 2013

   $ 102,474,155       $ 7,022,406         $ 95,451,748         0.738219   

November 18, 2013

   $ 95,451,748       $ 2,986,838         $ 92,464,911         0.715119   

December 16, 2013

   $ 92,464,911       $ 2,907,939         $ 89,556,972         0.692629   

January 16, 2014

   $ 89,556,972       $ 12,687,162         $ 76,869,810         0.594507   

February 17, 2014

   $ 76,869,810       $ 2,208,438         $ 74,661,372         0.577427   

March 17, 2014

   $ 74,661,372       $ 10,879,422         $ 63,781,949         0.493287   

 

* Principal Collections can potentially include fees and other payments

 

Hercules Capital Funding Trust 2012-1   
Monthly Servicing Report for the Collection Period Ending March 4, 2014    Page 7 of 8


Pool Balance - End of Period

 

OBLIGOR
NAME
Dec-12   Jan-13   Feb-13   Mar-13   Apr-13   May-13   Jun-13   Jul-13   Aug-13   Sep-13   Oct-13   Nov-13   Dec-13   Jan-14   Feb-14   Mar-14  

OBLIGOR #1

$ 8,172,429    $ 7,861,069    $ 7,547,429    $ 7,226,148    $ 6,907,861    $ 6,585,614    $ 6,262,639    $ 5,935,821    $ 5,608,090    $ 5,277,960    $ 4,944,167    $ 4,609,177    $ 4,270,648    $ —      $ —      $ —     

OBLIGOR #2

$ 5,052,335    $ 4,572,047    $ 4,087,313    $ 3,594,431    $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #3

$ 9,230,769    $ 8,846,154    $ 8,461,538    $ 8,076,923    $ 7,692,308    $ 7,307,692    $ 6,923,077    $ 6,538,462    $ 6,153,846    $ 5,769,231    $ 5,384,615    $ 5,000,000    $ 4,615,385    $ 4,230,769    $ 3,846,154    $ 3,461,539   

OBLIGOR #4

$ 11,292,550    $ 10,871,709    $ 10,447,046    $ 10,009,339    $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #5

$ 12,555,645    $ 12,555,645    $ 12,555,645    $ 12,555,645    $ 12,198,390    $ 11,833,442    $ 11,468,786    $ 11,096,603    $ 10,724,397    $ 10,348,377    $ 9,965,083    $ 9,581,282    $ 9,190,380    $ 8,798,641    $ 8,402,887    $ 7,994,745   

OBLIGOR #6

$ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #7

$ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673   

OBLIGOR #8

$ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 14,553,670    $ 14,107,639    $ 13,654,431    $ 13,201,238    $ 13,201,238    $ —     

OBLIGOR #9

$ 3,822,324    $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #10

$ 1,000,000    $ 1,000,000    $ 1,000,000    $ 966,343    $ 933,243    $ 899,586    $ 865,897    $ 831,664    $ 797,375    $ 762,784    $ 727,670    $ 692,464    $ 656,749    $ 620,917    $ 584,768    $ 547,801   

OBLIGOR #11

$ 3,758,211    $ 3,563,606    $ 3,367,447    $ 3,167,242    $ 2,968,011    $ 2,766,494    $ 2,564,157    $ 2,359,611    $ 2,154,121    $ 1,947,038    $ 1,737,864    $ 1,527,555    $ 1,315,235    $ 1,101,651    $ 886,411    $ 668,839   

OBLIGOR #12

$ 8,000,000    $ 8,000,000    $ 8,000,000    $ 8,000,000    $ 7,703,704    $ 7,407,407    $ 7,111,111    $ 6,814,815    $ 6,518,519    $ 6,222,222    $ 5,925,926    $ 5,629,630    $ 5,333,333    $ 5,037,037    $ 4,740,741    $ 4,444,444   

OBLIGOR #13

$ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000   

OBLIGOR #14

$ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 14,567,912    $ 14,131,732    $ 13,678,466   

OBLIGOR #15

$ 5,000,000    $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 4,880,240    $ 4,760,835    $ 4,640,408    $ 4,517,666    $ 4,395,155    $ 4,270,380    $ 4,145,750    $ 4,020,052    $ 3,889,944   

OBLIGOR #16

$ 15,000,000    $ 15,000,000    $ 14,573,778    $ 14,128,579    $ 13,693,352    $ 13,249,064    $ 12,804,749    $ 12,351,575    $ 11,897,986    $ 11,439,710    $ 10,972,886    $ 10,505,051    $ 10,028,879    $ 9,551,290    $ 9,068,764    $ 8,572,185   

OBLIGOR #17

$ 10,000,000    $ 10,000,000    $ 10,000,000    $ 9,711,183    $ 9,428,358    $ 9,140,353    $ 8,852,490    $ 8,559,565    $ 8,266,576    $ 7,971,001    $ 7,670,547    $ 7,369,711    $ 7,064,121    $ 6,757,933    $ 6,449,041    $ 6,131,915   

OBLIGOR #18

$ 13,749,133    $ 13,749,133    $ 13,749,133    $ 13,749,133    $ 11,749,133    $ 11,389,840    $ 11,030,718    $ 10,665,363    $ 10,299,863    $ 9,931,335    $ 9,556,937    $ 9,249,519    $ 8,801,783    $ 8,420,762    $ 8,420,762    $ 8,420,762   

OBLIGOR #18

$ 2,000,000    $ 2,000,000    $ 2,000,000    $ 2,000,000    $ 2,000,000    $ 2,000,000    $ 2,000,000    $ 2,000,000    $ 2,000,000    $ 1,913,989    $ 1,913,989    $ 1,913,989   

OBLIGOR #19

$ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 9,711,251    $ 9,422,842    $ 9,131,539    $ 4,031,539    $ —      $ —      $ —      $ —      $ —     

OBLIGOR #20

$ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000   

OBLIGOR #21

$ 5,000,000    $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 4,845,939    $ 4,690,274    $ 4,534,612    $ 4,377,391    $ 4,220,113    $ 4,062,022    $ 3,902,438    $ 3,742,706    $ 3,581,525    $ —      $ —      $ —     

OBLIGOR #21

$ 5,000,000    $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 4,851,509    $ 4,700,720    $ 4,549,975    $ 4,396,987    $ 4,243,953    $ 4,089,765    $ 3,933,422    $ 3,776,895    $ 3,618,270    $ —      $ —      $ —     

OBLIGOR #22

$ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 5,833,332    $ 5,666,665    $ 5,499,997    $ 5,333,329    $ 5,166,662   

OBLIGOR #23

$ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000   

OBLIGOR #24

$ 8,283,251    $ 8,156,689    $ 8,030,126    $ 7,903,564    $ 7,777,001    $ 7,608,251    $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #25

$ 8,000,000    $ 8,000,000    $ 8,000,000    $ 8,000,000    $ 8,000,000    $ 7,900,000    $ 7,800,000    $ 7,700,000    $ 7,600,000    $ 7,200,000    $ 7,100,000    $ 7,000,000    $ 6,900,000    $ 6,800,000    $ 6,700,000    $ 6,600,000   

OBLIGOR #25

$ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762   

OBLIGOR #26

$ —      $ —      $ —      $ —      $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000   

OBLIGOR #27

$ —      $ —      $ —      $ —      $ —      $ —      $ 7,283,956    $ 7,063,640    $ 6,843,463    $ 6,621,201    $ 6,394,809    $ 6,168,297    $ 5,937,754    $ 5,706,912    $ 5,473,884    $ 5,233,631   

OBLIGOR #28

$ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 9,733,008   

OBLIGOR #29

$ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ 3,726,539    $ 3,726,539    $ 3,726,539    $ 3,726,539    $ 3,726,539   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

TOTAL

$ 230,681,409    $ 224,940,814    $ 222,584,218    $ 219,853,292    $ 213,275,244    $ 210,005,171    $ 206,578,601    $ 202,809,422    $ 199,038,413    $ 194,941,027    $ 185,845,674    $ 181,441,387    $ 177,158,512    $ 161,607,770    $ 158,426,727    $ 141,710,903   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

Hercules Capital Funding Trust 2012-1
Monthly Servicing Report for the Collection Period Ending March 4, 2014 Page 8 of 8


 

LOGO

Monthly Servicer Report

On Behalf of Hercules Capital Funding Trust 2012-1

Prepared: For the collection period ending April 4, 2014

 

Hercules Capital Funding Trust 2012-1
Monthly Servicing Report for the Collection Period Ending April 4, 2014 Page 1 of 8


Monthly Servicer Report

On Behalf of Hercules Capital Funding Trust 2012-1

 

First Day of Collection Period March 5, 2014
Last Day of Collection Period April 4, 2014
Payment Date April 15, 2014

Available Funds

On each Payment Date, payments on the Notes will be made from the following sources (collectively, “Available Funds”):

 

Obligor payments

Interest Received

$ 1,343,993   

Principal Received

$ 21,201,286   

Other Obligor Payments

$ 3,184,388   
  

 

 

 

Obligor payments received with respect to the Loans during the preceding Collection Period;

$ 25,729,667   

Liquidation proceeds received with respect to the Loans during the preceding Collection Period;

$ —     

Interest earned on funds on deposit in the Collection Account, the Interest Reserve Account and the Expense Reserve Account;

Proceeds from any optional sale of Loans;

$ —     

Payments made by the Seller, the Depositor or the Servicer in connection with the required repurchase or purchase of Loans; and

$ —     

Scheduled Payment Advances

$ —     
  

 

 

 

Total Available Funds

$ 25,729,667   
  

 

 

 

 

Hercules Capital Funding Trust 2012-1
Monthly Servicing Report for the Collection Period Ending April 4, 2014 Page 2 of 8


Waterfall Calculations

 

Interest Collections

$ 1,343,993   
(1) Trustee, the Owner Trustee, the Backup Servicer, the Custodian and the Lockbox Bank, pro rata, any accrued and unpaid fees, expenses and indemnities then due to each of them with rolling twelve-month limit of $500K

US Bank Trustee - Annual Administrative Fee

$ 2,083   

US Bank Back Up Servicer - Annual Administrative Fee

$ 2,000   

US Bank Custodian - Monthly Fees

$ 150   

US Bank Lockbox Fees

$ 289   
    

 

 

 

Total due to Trustee/Owner Trustee/Backup Servicer/Custodian/Lockbox Bank fees/Rating Agency

$ 4,522   
The Servicing Fee shall be equal to the sum of the product of: (i) one-twelfth of 2.00% (or, with respect to the first Collection Period, a fraction equal to the number of days from and including the Cutoff Date through and including January 15, 2013 over 360) and (ii) the Aggregate Outstanding Pool Balance as of the beginning of the related Collection Period.
(2) Servicer or any Successor Servicer, any previously unreimbursed Scheduled Payment Advances, Servicing Advances, the Servicing Fee for the related calendar month, any supplemental servicing fees for the related calendar month, any reimbursements for mistaken deposits and other related amounts and certain other amounts due on the Loans that the Servicer is entitled to retain; to the Seller, amounts deposited into the Lockbox Account but not related to interest, principal or extension fees due on the Loans; a one-time servicer engagement fee to the Backup Servicer (upon becoming Successor Servicer) of $125K; and costs and expenses, if any, incurred by the Trustee or by any Successor Servicer (including the Backup Servicer) in connection with the transfer of servicing to any Successor Servicer, which shall not exceed $50K for a servicing transfer to the Backup Servicer or 175K to any other Successor Servicer $ —     

First day of collection period

  March 5, 2014   

Aggregate Outstanding Pool Balance as of beginning of Collection Period

$ 160,448,520   

Applicable Servicing Fee %

  2.00

Number of Days to calculate

  0.08   
    

 

 

 

Total Servicing Fee

$ 267,414   
(3) Accrued interest due on the Notes, which is the sum of (i) the aggregate amount of interest due and accrued for the related Interest Period on the Notes; and (ii) the excess, if any, of the amount of interest remaining due and payable on the Notes on prior Payment Dates over the amounts in respect of interest actually paid on the Notes on such Payment Dates, plus interest on any such shortfall at the interest rate for the Notes

Outstanding Balance of Notes After Last Payment Date

$ 63,781,949   

Applicable Rate

  3.32
  

 

 

   

Interest due and accrued for related interest period

$ 176,463   

Interest unpaid and due from prior payment date

$ —     

Plus interest on interest unpaid and due from prior payment date

$ —     

Total Accrued Interest Due

$ 176,463   
(4) Principal on the Notes in the amounts required under “Principal Collections” below, but only to the extent not paid in full from Principal Collections

Outstanding Balance of Notes After Last Payment Date

$ 63,781,949   

Target Principal Amortization

$ 14,286,693   

Principal Payments Received from Principal Collections

$ (14,286,693

Principal Payments Received from Reserve Account

$ —     

Principal Payments Received from Interest Collections

$ —      $ —     
    

 

 

 

Note Balance after Principal Payment

$ 49,495,256   
(5) Pay each of the Trustee, the Owner Trustee, the Backup Servicer, any Successor Servicer, the Custodian and the Lockbox Bank, pro rata, any fees and expenses then due to such party that are in excess of the related cap or annual limitation $ —     

(6) Pay all remaining amounts to the Certificateholder

  895,593   

Principal and Other Obligor Payment Collections

$ 24,385,674   
(1) Pay the amounts under “Interest Collections”, but only to the extent not paid in full from Interest Collections $ —     
(2) (A) for so long as no Rapid Amortization Event has occurred, to pay principal on the Notes in an amount equal to the excess, if any, of the outstanding principal amount of the Notes over the Borrowing Base and (B)following the occurrence of any Rapid Amortization Event, to pay outstanding principal on the Notes until the outstanding principal balance of the Notes is reduced to zero $ 14,286,693   
(3) Pay the remaining outstanding principal balance of the Notes on the Legal Final Payment Date $ —     
(4) The amount on deposit in the Reserve Account is more than the Reserve Account Required Balance, to the Certificateholder, the balance in the Reserve Account that is in excess of 7.5% of the Aggregate Outstanding Principal Balance of the Notes after taking into account paydowns on the Notes made on the applicable Payment Date $ (1,071,502
(5) Pay the amounts referred to in clause (5) under “Interest Collections” above, but only to the extent not paid in full from Interest Collections; $ —     
(6) Pay all remaining amounts to the Certificateholder $ 11,170,483   

 

Hercules Capital Funding Trust 2012-1
Monthly Servicing Report for the Collection Period Ending April 4, 2014 Page 3 of 8


Borrowing Base and Required Note Payments

As of:

   April 4, 2014   

 

First Day of Collection Period

   March 5, 2014   

Last Day of Collection Period

   April 4, 2014   

Payment Date

   April 15, 2014   

 

Borrowing Base

             
  

Adjusted Pool Balance

          
    

Pool Balance

         $ 120,509,617   
    

Total Excess Concentration Amount

         $ (40,678,558
    

Outstanding Balance of all Delinquent Loans

         $ —     
    

Outstanding Balance of all Restructured Loans

         $ —     
             

 

 

 
Total Adjusted Pool Balance $ 79,831,058   

Advance Rate

  62.0
             

 

 

 
$ 49,495,256   
             

 

 

 

Borrowing Base

Beginning Outstanding Note Balance

$ 63,781,949   

Rapid Amortization

$ —     
             

 

 

 

Required Payment on Notes

$ 14,286,693   

Rapid Amortization Event

Restructured Loan

Loan that has been, or in accordance with the Credit Monitoring Guidelines is required to be, modified or restructured to extend the maturity thereof or reduce the amount (other than by reason of the repayment thereof) or extend the time for payment of principal thereof, in each case as a result of the Obligor’s material financial underperformance, distress or default. Such Loan shall cease to be a Restructured Loan when such Loan has been performing for at least six consecutive months since the date the most recent modification was made and is no longer required to be so modified or restructured in accordance with the Credit Monitoring Guidelines.

 

Reporting Date

   Obligor Name    Modification Date    Loan Balance    Total Restructured Amt
in last 6 months
           

 

Delinquent Loan

              
   Loan which is more than forty-five (45) days delinquent in payment; provided, however, that any Loan that has been substituted and replaced by the Issuer with a Substitute Loan pursuant to Section 2.04 and Section 2.06 will not be deemed to be a Delinquent Loan.   

 

     Days of Delinquency         
     31 to 59      60 to 89      90+      Total  

N/A

   $ —         $ —         $ —         $ —     

Total

   $ —         $ —         $ —         $ —     

 

Defaulted Loan

              
   Loan in the Collateral as to which the earliest of the following has occurred: (i) any payment, or any part of any payment in excess of 90%, due under such Loan (taking into account any waivers or modifications granted by the Servicer on such Loan) has become 120 days or more delinquent, whether or not the Servicer has foreclosed upon the related Collateral or if the related obligor is insolvent or has declared bankruptcy and the Loan is more than 180 days delinquent; (ii) the Servicer has foreclosed upon and sold the related collateral; (iii) 90 days has elapsed since the related Collateral was foreclosed upon by the Servicer; or (iv) the Servicer has determined in accordance with its customary practices that the Loan is uncollectible or the final recoverable amounts have been received.   

 

Reporting Date

   Obligor Name    Defaulted Date    Loan Balance    Days of Default

N/A

           

 

Aggregate Outstanding Principal Balance of the Notes exceeds the Borrowing Base for a period of three (3) consecutive calendar months   

 

Date

   Ending Outstanding
Note Balances
   Borrowing Base    Balance > Borrowing
Base
    

N/A

              

 

Loans in the Collateral consist of Loans to 10 or fewer Obligors

              

 

     Obligor Count    Count >
10
    

N/A

        

 

An Event of Default

              

 

           

N/A

  

 

Hercules Capital Funding Trust 2012-1   
Monthly Servicing Report for the Collection Period Ending April 4, 2014    Page 4 of 8


Pool Balance, Note and General Reserve Schedules

 

Pool Balance

   

Note Balances

 

Ending

Collection

Period Date

  Beginning
Pool Balance
    Ending Pool
Balance
   

Payment

Date

  Beginning
Balance
    Principal
Payment
    Ending
Balance
    Note
Factor
    Note
Interest
Paid
    Cumulative
Interest
Paid
 

January 4, 2013

  $ 230,681,409      $ 224,940,814      January 16, 2013     129,300,000        5,781,416        123,518,584        0.9553        321,957        321,957   

February 4, 2013

  $ 224,940,814      $ 222,584,218      February 19, 2013     123,518,584        1,576,420        121,942,164        0.9431        375,908        697,865   

March 4, 2013

  $ 222,584,218      $ 219,853,292      March 18, 2013     121,942,164        1,890,769        120,051,395        0.9285        337,373        1,035,239   

April 4, 2013

  $ 219,853,292      $ 213,275,244      April 16, 2013     120,051,395        5,375,752        114,675,643        0.8869        332,142        1,367,381   

May 4, 2013

  $ 213,275,244      $ 210,005,171      May 16, 2013     114,675,643        2,133,032        112,542,610        0.8704        317,269        1,684,650   

June 4, 2013

  $ 210,005,171      $ 206,578,601      June 17, 2013     112,542,610        2,273,025        110,269,586        0.8528        311,368        1,996,018   

July 3, 2013

  $ 206,578,601      $ 202,809,422      July 16, 2013     110,269,586        2,564,881        107,704,704        0.8330        305,079        2,301,097   

August 2, 2013

  $ 202,809,422      $ 199,038,413      August 16, 2013     107,704,704        2,566,154        105,138,550        0.8131        297,983        2,599,080   

September 3, 2013

  $ 199,038,413      $ 194,941,027      September 16, 2013     105,138,550        2,664,395        102,474,155        0.7925        290,883        2,889,963   

October 4, 2013

  $ 194,941,027      $ 185,845,674      October 16, 2013     102,474,155        7,022,406        95,451,748        0.7382        283,059        3,173,022   

November 4, 2013

  $ 185,845,674      $ 181,441,387      November 18, 2013     95,451,748        2,986,838        92,464,911        0.7151        264,083        3,437,106   

December 4, 2013

  $ 181,441,387      $ 177,158,512      December 16, 2013     92,464,911        2,907,939        89,556,972        0.6926        255,820        3,692,925   

January 4, 2014

  $ 177,158,512      $ 161,607,770      January 16, 2014     89,556,972        12,687,162        76,869,810        0.5945        247,774        3,940,699   

February 4, 2014

  $ 161,607,770      $ 158,426,727      February 17, 2014     76,869,810        2,208,438        74,661,372        0.5774        212,673        4,153,373   

March 4, 2014

  $ 158,426,727      $ 141,710,903      March 17, 2014     74,661,372        10,879,422        63,781,949        0.4933        206,563        4,359,936   

April 4, 2014

  $ 141,710,903      $ 120,509,617      April 15, 2014     63,781,949        14,286,693        49,495,256        0.3828        176,463        4,536,399   

 

General Reserve Account

 

Payment Date

  Beginning
Balance
    Plus: Required
Deposits
    Plus:
Interest
    Less: Excess over
General Reserve
Account Required
Balance
    Less:
Withdrawal
for Insufficient
Funds for
Required
Payments
    Less:
Withdrawal due
to Event of
Default
    Ending Balance     Reserve Balance
as a % of the
Outstanding
Principal Balance

of the Notes
 

January 16, 2013

  $ —        $ —        $ —        $ —        $ —        $ —        $ —          0.00

February 19, 2013

  $ —        $ 390,088      $ —        $ —        $ —        $ —        $ 390,088        0.32

March 16, 2013

  $ 390,088      $ 420,079      $ —        $ —        $ —        $ —        $ 810,167        0.66

April 16, 2013

  $ 810,167      $ —        $ —        $ —        $ 243,520      $ —        $ 566,646        0.47

May 16, 2013

  $ 566,646      $ 568,520      $ —        $ —        $ —        $ —        $ 1,135,167        0.99

June 17, 2013

  $ 1,135,167      $ 522,647      $ —        $ —        $ —        $ —        $ 1,657,814        1.47

July 16, 2013

  $ 1,657,814      $ 602,149      $ —        $ —        $ —        $ —        $ 2,259,963        2.05

August 16, 2013

  $ 2,259,963      $ 602,427      $ —        $ —        $ —        $ —        $ 2,862,390        2.66

September 16, 2013

  $ 2,862,390      $ 769,496      $ —        $ —        $ —        $ —        $ 3,631,886        3.45

October 16, 2013

  $ 3,631,886      $ 1,036,473      $ —        $ —        $ —        $ —        $ 4,668,359        4.56

November 18, 2013

  $ 4,668,359      $ 875,391      $ —        $ —        $ —        $ —        $ 5,543,750        5.81

December 16, 2013

  $ 5,543,750      $ 727,468      $ —        $ —        $ —        $ —        $ 6,271,218        6.78

January 16, 2014

  $ 6,271,218      $ —        $ —        $ 505,982      $ —        $ —        $ 5,765,236        7.50

February 17, 2014

  $ 5,765,236      $ —        $ —        $ 165,633      $ —        $ —        $ 5,599,603        7.50

March 17, 2014

  $ 5,599,603      $ —        $ —        $ 815,957      $ —        $ —        $ 4,783,646        7.50

April 15, 2014

  $ 4,783,646      $ —        $ —        $ 1,071,502      $ —        $ —        $ 3,712,144        7.50

 

Hercules Capital Funding Trust 2012-1   
Monthly Servicing Report for the Collection Period Ending April 4, 2014    Page 5 of 8


Pool Balance (by Obligor) Concentration

 

Obligor Count

  18   

 

Loan Status

   Loan Balance      % of
Loan Balance
 

Current

   $ 120,509,617         100

Restructured

   $ —           0

Defaulted

   $ —           0

Delinquent

   $ —           0
  

 

 

    

 

 

 

TOTAL

$ 120,509,617      100
  

 

 

    

 

 

 

 

Concentration Limits percentage of Loan Balance

  5   23   44

Concentration Limits in Dollars

$ 6,025,481    $ 27,717,212    $ 53,024,231   
     Single Obligor     Top Five     Top Ten  

Excess Concentration

      

OBLIGOR #25

   $ (4,989,281    

OBLIGOR #18

   $ (4,309,270    

OBLIGOR #26

   $ (3,974,519    

OBLIGOR #13

   $ (3,974,519    

OBLIGOR #7

   $ (3,736,192   $ (23,393,973  

OBLIGOR #23

   $ (3,680,531    

OBLIGOR #28

   $ (3,447,174    

OBLIGOR #16

   $ (2,546,704    

OBLIGOR #5

   $ (1,565,273    

OBLIGOR #20

   $ (1,224,519     $ (40,678,558
  

 

 

   

 

 

   

 

 

 

Total

$ (33,447,981 $ (23,393,973 $ (40,678,558
  

 

 

   

 

 

   

 

 

 

 

Total Excess Concentration Amount

$ (40,678,558

Adjusted Pool Balance

$ 79,831,058   

 

Hercules Capital Funding Trust 2012-1
Monthly Servicing Report for the Collection Period Ending April 4, 2014 Page 6 of 8


Pool Balance and Note Schedules

 

Pool Balance

 

Ending Collection

Period Date

  Beginning Principal     Principal Collections*     Adjustment For
Substitution
    Other Collections     Ending Balance     Collateral Interest
Received
    Other
Collections
    Total Collections  

December 19, 2012

  $ 230,681,409      $ —        $ —          $ 230,681,409      $ —        $ —        $ —     

January 4, 2013

  $ 230,681,409      $ 5,740,595      $ —          $ 224,940,814      $ 2,084,457      $ —        $ 7,825,052   

February 4, 2013

  $ 224,940,814      $ 2,356,596      $ —          $ 222,584,218      $ 1,981,727      $ —        $ 4,338,323   

March 4, 2013

  $ 222,584,218      $ 2,730,927      $ —          $ 219,853,292      $ 1,770,085      $ —        $ 4,501,012   

April 4, 2013

  $ 219,853,292      $ 3,900,558      $ 2,677,489        $ 213,275,244      $ 1,935,178      $ 18,050      $ 5,853,787   

May 4, 2013

  $ 213,275,244      $ 3,270,073      $ —          $ 210,005,171      $ 1,846,576      $ —        $ 5,116,649   

June 4, 2013

  $ 210,005,171      $ 3,318,319      $ 108,251        $ 206,578,601      $ 1,977,416      $ —        $ 5,295,735   

July 3, 2013

  $ 206,578,601      $ 3,769,179      $ —          $ 202,809,422      $ 1,781,618      $ —        $ 5,550,798   

August 2, 2013

  $ 202,809,422      $ 3,771,009      $ —          $ 199,038,413      $ 1,805,042      $ —        $ 5,576,051   

September 3, 2013

  $ 199,038,413      $ 4,097,386      $ —        $ 106,000      $ 194,941,027      $ 1,784,734      $ —        $ 5,988,120   

October 4, 2013

  $ 194,941,027      $ 9,095,353      $ —          $ 185,845,674      $ 1,608,996      $ —        $ 10,704,349   

November 4, 2013

  $ 185,845,674      $ 4,099,288      $ 305,000      $ 333,333      $ 181,441,387      $ 1,634,167      $ —        $ 6,371,788   

December 4, 2013

  $ 181,441,387      $ 4,282,874      $ —        $ 80,000      $ 177,158,512      $ 1,573,172      $ —        $ 5,936,046   

January 4, 2014

  $ 177,158,512      $ 15,550,742      $ —        $ 12,383      $ 161,607,770      $ 1,555,000      $ —        $ 17,118,125   

February 4, 2014

  $ 161,607,770      $ 3,181,044      $ —        $ 650,659      $ 158,426,727      $ 1,374,048      $ —        $ 5,205,750   

March 4, 2014

  $ 158,426,727      $ 16,715,823      $ —        $ 661,525      $ 141,710,903      $ 1,360,269      $ —        $ 18,737,617   

April 4, 2014

  $ 141,710,903      $ 21,201,286      $ —        $ 3,184,388      $ 120,509,617      $ 1,343,993      $ —        $ 25,729,667   

 

Note Balance - Class A Notes

 

Payment Date

   Beginning Principal      Principal Paydown        Ending Balance      Note Factor  

December 19, 2012

   $ 129,300,000            $ 129,300,000         1.000000   

January 16, 2013

   $ 129,300,000       $ 5,781,416         $ 123,518,584         0.955287   

February 19, 2013

   $ 123,518,584       $ 1,576,420         $ 121,942,164         0.943095   

March 18, 2013

   $ 121,942,164       $ 1,890,769         $ 120,051,395         0.928472   

April 16, 2013

   $ 120,051,395       $ 5,375,752         $ 114,675,643         0.886896   

May 16, 2013

   $ 114,675,643       $ 2,133,032         $ 112,542,610         0.870399   

June 17, 2013

   $ 112,542,610       $ 2,273,025         $ 110,269,586         0.852820   

July 16, 2013

   $ 110,269,586       $ 2,564,881         $ 107,704,704         0.832983   

August 16, 2013

   $ 107,704,704       $ 2,566,154         $ 105,138,550         0.813137   

September 16, 2013

   $ 105,138,550       $ 2,664,395         $ 102,474,155         0.792530   

October 16, 2013

   $ 102,474,155       $ 7,022,406         $ 95,451,748         0.738219   

November 18, 2013

   $ 95,451,748       $ 2,986,838         $ 92,464,911         0.715119   

December 16, 2013

   $ 92,464,911       $ 2,907,939         $ 89,556,972         0.692629   

January 16, 2014

   $ 89,556,972       $ 12,687,162         $ 76,869,810         0.594507   

February 17, 2014

   $ 76,869,810       $ 2,208,438         $ 74,661,372         0.577427   

March 17, 2014

   $ 74,661,372       $ 10,879,422         $ 63,781,949         0.493287   

April 15, 2014

   $ 63,781,949       $ 14,286,693         $ 49,495,256         0.382794   

 

* Principal Collections can potentially include fees and other payments

 

Hercules Capital Funding Trust 2012-1   
Monthly Servicing Report for the Collection Period Ending April 4, 2014    Page 7 of 8


Pool Balance - End of Period

 

OBLIGOR

NAME

Dec-12   Jan-13   Feb-13   Mar-13   Apr-13   May-13   Jun-13   Jul-13   Aug-13   Sep-13   Oct-13   Nov-13   Dec-13   Jan-14   Feb-14   Mar-14   Apr-14  

OBLIGOR #1

$ 8,172,429    $ 7,861,069    $ 7,547,429    $ 7,226,148    $ 6,907,861    $ 6,585,614    $ 6,262,639    $ 5,935,821    $ 5,608,090    $ 5,277,960    $ 4,944,167    $ 4,609,177    $ 4,270,648    $ —      $ —      $ —      $ —     

OBLIGOR #2

$ 5,052,335    $ 4,572,047    $ 4,087,313    $ 3,594,431    $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #3

$ 9,230,769    $ 8,846,154    $ 8,461,538    $ 8,076,923    $ 7,692,308    $ 7,307,692    $ 6,923,077    $ 6,538,462    $ 6,153,846    $ 5,769,231    $ 5,384,615    $ 5,000,000    $ 4,615,385    $ 4,230,769    $ 3,846,154    $ 3,461,539    $ 3,076,923   

OBLIGOR #4

$ 11,292,550    $ 10,871,709    $ 10,447,046    $ 10,009,339    $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #5

$ 12,555,645    $ 12,555,645    $ 12,555,645    $ 12,555,645    $ 12,198,390    $ 11,833,442    $ 11,468,786    $ 11,096,603    $ 10,724,397    $ 10,348,377    $ 9,965,083    $ 9,581,282    $ 9,190,380    $ 8,798,641    $ 8,402,887    $ 7,994,745    $ 7,590,753   

OBLIGOR #6

$ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #7

$ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673   

OBLIGOR #8

$ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 14,553,670    $ 14,107,639    $ 13,654,431    $ 13,201,238    $ 13,201,238    $ —      $ —     

OBLIGOR #9

$ 3,822,324    $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #10

$ 1,000,000    $ 1,000,000    $ 1,000,000    $ 966,343    $ 933,243    $ 899,586    $ 865,897    $ 831,664    $ 797,375    $ 762,784    $ 727,670    $ 692,464    $ 656,749    $ 620,917    $ 584,768    $ 547,801    $ 511,007   

OBLIGOR #11

$ 3,758,211    $ 3,563,606    $ 3,367,447    $ 3,167,242    $ 2,968,011    $ 2,766,494    $ 2,564,157    $ 2,359,611    $ 2,154,121    $ 1,947,038    $ 1,737,864    $ 1,527,555    $ 1,315,235    $ 1,101,651    $ 886,411    $ 668,839    $ 450,245   

OBLIGOR #12

$ 8,000,000    $ 8,000,000    $ 8,000,000    $ 8,000,000    $ 7,703,704    $ 7,407,407    $ 7,111,111    $ 6,814,815    $ 6,518,519    $ 6,222,222    $ 5,925,926    $ 5,629,630    $ 5,333,333    $ 5,037,037    $ 4,740,741    $ 4,444,444    $ 4,148,148   

OBLIGOR #13

$ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000   

OBLIGOR #14

$ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 14,567,912    $ 14,131,732    $ 13,678,466    $ —     

OBLIGOR #15

$ 5,000,000    $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 4,880,240    $ 4,760,835    $ 4,640,408    $ 4,517,666    $ 4,395,155    $ 4,270,380    $ 4,145,750    $ 4,020,052    $ 3,889,944    $ 3,762,055   

OBLIGOR #16

$ 15,000,000    $ 15,000,000    $ 14,573,778    $ 14,128,579    $ 13,693,352    $ 13,249,064    $ 12,804,749    $ 12,351,575    $ 11,897,986    $ 11,439,710    $ 10,972,886    $ 10,505,051    $ 10,028,879    $ 9,551,290    $ 9,068,764    $ 8,572,185    $ 8,572,185   

OBLIGOR #17

$ 10,000,000    $ 10,000,000    $ 10,000,000    $ 9,711,183    $ 9,428,358    $ 9,140,353    $ 8,852,490    $ 8,559,565    $ 8,266,576    $ 7,971,001    $ 7,670,547    $ 7,369,711    $ 7,064,121    $ 6,757,933    $ 6,449,041    $ 6,131,915    $ 6,131,915   

OBLIGOR #18

$ 13,749,133    $ 13,749,133    $ 13,749,133    $ 13,749,133    $ 11,749,133    $ 11,389,840    $ 11,030,718    $ 10,665,363    $ 10,299,863    $ 9,931,335    $ 9,556,937    $ 9,249,519    $ 8,801,783    $ 8,420,762    $ 8,420,762    $ 8,420,762    $ 8,420,762   

OBLIGOR #18

$ 2,000,000    $ 2,000,000    $ 2,000,000    $ 2,000,000    $ 2,000,000    $ 2,000,000    $ 2,000,000    $ 2,000,000    $ 2,000,000    $ 1,913,989    $ 1,913,989    $ 1,913,989    $ 1,913,989   

OBLIGOR #19

$ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 9,711,251    $ 9,422,842    $ 9,131,539    $ 4,031,539    $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #20

$ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000   

OBLIGOR #21

$ 5,000,000    $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 4,845,939    $ 4,690,274    $ 4,534,612    $ 4,377,391    $ 4,220,113    $ 4,062,022    $ 3,902,438    $ 3,742,706    $ 3,581,525    $ —      $ —      $ —      $ —     

OBLIGOR #21

$ 5,000,000    $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 4,851,509    $ 4,700,720    $ 4,549,975    $ 4,396,987    $ 4,243,953    $ 4,089,765    $ 3,933,422    $ 3,776,895    $ 3,618,270    $ —      $ —      $ —      $ —     

OBLIGOR #22

$ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 5,833,332    $ 5,666,665    $ 5,499,997    $ 5,333,329    $ 5,166,662    $ 4,999,994   

OBLIGOR #23

$ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 9,706,012   

OBLIGOR #24

$ 8,283,251    $ 8,156,689    $ 8,030,126    $ 7,903,564    $ 7,777,001    $ 7,608,251    $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #25

$ 8,000,000    $ 8,000,000    $ 8,000,000    $ 8,000,000    $ 8,000,000    $ 7,900,000    $ 7,800,000    $ 7,700,000    $ 7,600,000    $ 7,200,000    $ 7,100,000    $ 7,000,000    $ 6,900,000    $ 6,800,000    $ 6,700,000    $ 6,600,000    $ 6,500,000   

OBLIGOR #25

$ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762   

OBLIGOR #26

$ —      $ —      $ —      $ —      $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000   

OBLIGOR #27

$ —      $ —      $ —      $ —      $ —      $ —      $ 7,283,956    $ 7,063,640    $ 6,843,463    $ 6,621,201    $ 6,394,809    $ 6,168,297    $ 5,937,754    $ 5,706,912    $ 5,473,884    $ 5,233,631    $ —     

OBLIGOR #28

$ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 9,733,008    $ 9,472,654   

OBLIGOR #29

$ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ 3,726,539    $ 3,726,539    $ 3,726,539    $ 3,726,539    $ 3,726,539    $ 3,726,539   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

TOTAL

$ 230,681,409    $ 224,940,814    $ 222,584,218    $ 219,853,292    $ 213,275,244    $ 210,005,171    $ 206,578,601    $ 202,809,422    $ 199,038,413    $ 194,941,027    $ 185,845,674    $ 181,441,387    $ 177,158,512    $ 161,607,770    $ 158,426,727    $ 141,710,903    $ 120,509,617   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

Hercules Capital Funding Trust 2012-1
Monthly Servicing Report for the Collection Period Ending April 4, 2014 Page 8 of 8


 

LOGO

Monthly Servicer Report

On Behalf of Hercules Capital Funding Trust 2012-1

Prepared: For the collection period ending May 5, 2014

 

Hercules Capital Funding Trust 2012-1
Monthly Servicing Report for the Collection Period Ending May 5, 2014 Page 1 of 8


Monthly Servicer Report

On Behalf of Hercules Capital Funding Trust 2012-1

 

First Day of Collection Period April 5, 2014
Last Day of Collection Period May 5, 2014
Payment Date May 15, 2014

Available Funds

On each Payment Date, payments on the Notes will be made from the following sources (collectively, “Available Funds”):

 

Obligor payments

Interest Received

$ 1,115,998   

Principal Received

$ 2,486,716   

Other Obligor Payments

$ —     
  

 

 

 

Obligor payments received with respect to the Loans during the preceding Collection Period;

$ 3,602,715   

Liquidation proceeds received with respect to the Loans during the preceding Collection Period;

$ —     

Interest earned on funds on deposit in the Collection Account, the Interest Reserve Account and the Expense Reserve Account;

Proceeds from any optional sale of Loans;

$ —     

Payments made by the Seller, the Depositor or the Servicer in connection with the required repurchase or purchase of Loans; and

$ —     

Scheduled Payment Advances

$ —     
  

 

 

 

Total Available Funds

$ 3,602,715   
  

 

 

 

 

Hercules Capital Funding Trust 2012-1
Monthly Servicing Report for the Collection Period Ending May 5, 2014 Page 2 of 8


Waterfall Calculations

 

Interest Collections

$ 1,115,998   
(1) Trustee, the Owner Trustee, the Backup Servicer, the Custodian and the Lockbox Bank, pro rata, any accrued and unpaid fees, expenses and indemnities then due to each of them with rolling twelve-month limit of $500K

US Bank Trustee - Annual Administrative Fee

$ 2,083   

US Bank Back Up Servicer - Annual Administrative Fee

$ 2,000   

US Bank Custodian - Monthly Fees

$ 150   

US Bank Lockbox Fees

$ 283   

Independent Accountant Audit Fee

$ 27,732   
    

 

 

 

Total due to Trustee/Owner Trustee/Backup Servicer/Custodian/Lockbox Bank fees/Rating Agency

$ 32,249   
The Servicing Fee shall be equal to the sum of the product of: (i) one-twelfth of 2.00% (or, with respect to the first Collection Period, a fraction equal to the number of days from and including the Cutoff Date through and including January 15, 2013 over 360) and (ii) the Aggregate Outstanding Pool Balance as of the beginning of the related Collection Period.     
(2) Servicer or any Successor Servicer, any previously unreimbursed Scheduled Payment Advances, Servicing Advances, the Servicing Fee for the related calendar month, any supplemental servicing fees for the related calendar month, any reimbursements for mistaken deposits and other related amounts and certain other amounts due on the Loans that the Servicer is entitled to retain; to the Seller, amounts deposited into the Lockbox Account but not related to interest, principal or extension fees due on the Loans; a one-time servicer engagement fee to the Backup Servicer (upon becoming Successor Servicer) of $125K; and costs and expenses, if any, incurred by the Trustee or by any Successor Servicer (including the Backup Servicer) in connection with the transfer of servicing to any Successor Servicer, which shall not exceed $50K for a servicing transfer to the Backup Servicer or 175K to any other Successor Servicer $ —     

First day of collection period

  April 5, 2014   

Aggregate Outstanding Pool Balance as of beginning of Collection Period

$ 146,239,283   

Applicable Servicing Fee %

  2.00

Number of Days to calculate

  0.08   
    

 

 

 

Total Servicing Fee

$ 243,732   
(3) Accrued interest due on the Notes, which is the sum of (i) the aggregate amount of interest due and accrued for the related Interest Period on the Notes; and (ii) the excess, if any, of the amount of interest remaining due and payable on the Notes on prior Payment Dates over the amounts in respect of interest actually paid on the Notes on such Payment Dates, plus interest on any such shortfall at the interest rate for the Notes

Outstanding Balance of Notes After Last Payment Date

$ 49,495,256   

Applicable Rate

  3.32
  

 

 

   

Interest due and accrued for related interest period

$ 136,937   

Interest unpaid and due from prior payment date

$ —     

Plus interest on interest unpaid and due from prior payment date

$ —     

Total Accrued Interest Due

$ 136,937   
(4) Principal on the Notes in the amounts required under “Principal Collections” below, but only to the extent not paid in full from Principal Collections

Outstanding Balance of Notes After Last Payment Date

$ 49,495,256   

Target Principal Amortization

$ 1,444,243   

Principal Payments Received from Principal Collections

$ (1,444,243

Principal Payments Received from Reserve Account

$ —     

Principal Payments Received from Interest Collections

$    $ —     
    

 

 

 

Note Balance after Principal Payment

$ 48,051,013   
(5) Pay each of the Trustee, the Owner Trustee, the Backup Servicer, any Successor Servicer, the Custodian and the Lockbox Bank, pro rata, any fees and expenses then due to such party that are in excess of the related cap or annual limitation $ —     
(6) Pay all remaining amounts to the Certificateholder   703,081   

Principal and Other Obligor Payment Collections

$ 2,486,716   
(1) Pay the amounts under “Interest Collections”, but only to the extent not paid in full from Interest Collections $ —     
(2) (A) for so long as no Rapid Amortization Event has occurred, to pay principal on the Notes in an amount equal to the excess, if any, of the outstanding principal amount of the Notes over the Borrowing Base and (B) following the occurrence of any Rapid Amortization Event, to pay outstanding principal on the Notes until the outstanding principal balance of the Notes is reduced to zero $ 1,444,243   
(3) Pay the remaining outstanding principal balance of the Notes on the Legal Final Payment Date $ —     
(4) The amount on deposit in the Reserve Account is more than the Reserve Account Required Balance, to the Certificateholder, the balance in the Reserve Account that is in excess of 7.5% of the Aggregate Outstanding Principal Balance of the Notes after taking into account paydowns on the Notes made on the applicable Payment Date $ (108,318
(5) Pay the amounts referred to in clause (5) under “Interest Collections” above, but only to the extent not paid in full from Interest Collections; $ —     
(6) Pay all remaining amounts to the Certificateholder $ 1,150,792   

 

Hercules Capital Funding Trust 2012-1
Monthly Servicing Report for the Collection Period Ending May 5, 2014 Page 3 of 8


Borrowing Base and Required Note Payments

As of:

   May 5, 2014   

 

First Day of Collection Period

   April 5, 2014   

Last Day of Collection Period

   May 5, 2014   

Payment Date

   May 15, 2014   

 

Borrowing Base

              
  

Adjusted Pool Balance

        
     

Pool Balance

         $ 118,022,900   
     

Total Excess Concentration Amount

         $ (40,521,266
     

Outstanding Balance of all Delinquent Loans

         $ —     
     

Outstanding Balance of all Restructured Loans

         $ —     
              

 

 

 
Total Adjusted Pool Balance $ 77,501,634   

Advance Rate

  62.0
              

 

 

 
$ 48,051,013   
              

 

 

 

Borrowing Base

Beginning Outstanding Note Balance

$ 49,495,256   

Rapid Amortization

$ —     
              

 

 

 

Required Payment on Notes

$ 1,444,243   

Rapid Amortization Event

Restructured Loan

Loan that has been, or in accordance with the Credit Monitoring Guidelines is required to be, modified or restructured to extend the maturity thereof or reduce the amount (other than by reason of the repayment thereof) or extend the time for payment of principal thereof, in each case as a result of the Obligor’s material financial underperformance, distress or default. Such Loan shall cease to be a Restructured Loan when such Loan has been performing for at least six consecutive months since the date the most recent modification was made and is no longer required to be so modified or restructured in accordance with the Credit Monitoring Guidelines.

 

Reporting Date

   Obligor Name    Modification Date    Loan Balance    Total Restructured Amt
in last 6 months
           

 

Delinquent Loan

              
   Loan which is more than forty-five (45) days delinquent in payment; provided, however, that any Loan that has been substituted and replaced by the Issuer with a Substitute Loan pursuant to Section 2.04 and Section 2.06 will not be deemed to be a Delinquent Loan.   

 

     Days of Delinquency         
     31 to 59      60 to 89      90+      Total  

N/A

   $ —         $ —         $ —         $ —     

Total

   $ —         $ —         $ —         $ —     

 

Defaulted Loan

              
   Loan in the Collateral as to which the earliest of the following has occurred: (i) any payment, or any part of any payment in excess of 90%, due under such Loan (taking into account any waivers or modifications granted by the Servicer on such Loan) has become 120 days or more delinquent, whether or not the Servicer has foreclosed upon the related Collateral or if the related obligor is insolvent or has declared bankruptcy and the Loan is more than 180 days delinquent; (ii) the Servicer has foreclosed upon and sold the related collateral; (iii) 90 days has elapsed since the related Collateral was foreclosed upon by the Servicer; or (iv) the Servicer has determined in accordance with its customary practices that the Loan is uncollectible or the final recoverable amounts have been received.   

 

Reporting Date

   Obligor Name    Defaulted Date    Loan Balance    Days of Default

N/A

           

 

Aggregate Outstanding Principal Balance of the Notes exceeds the Borrowing Base for a period of three (3) consecutive calendar months   

 

Date

   Ending Outstanding
Note Balances
   Borrowing Base    Balance > Borrowing
Base
    

N/A

              

 

Loans in the Collateral consist of Loans to 10 or fewer Obligors

              

 

     Obligor Count    Count >
10
    

N/A

        

 

An Event of Default

              

 

           

N/A

  

 

Hercules Capital Funding Trust 2012-1   
Monthly Servicing Report for the Collection Period Ending May 5, 2014    Page 4 of 8


Pool Balance, Note and General Reserve Schedules

 

Pool Balance

   

Note Balances

 

Ending Collection

Period Date

  Beginning
Pool Balance
    Ending Pool
Balance
   

Payment

Date

  Beginning
Balance
    Principal
Payment
    Ending
Balance
    Note
Factor
    Note
Interest
Paid
    Cumulative
Interest
Paid
 

January 4, 2013

  $ 230,681,409      $ 224,940,814      January 16, 2013     129,300,000        5,781,416        123,518,584        0.9553        321,957        321,957   

February 4, 2013

  $ 224,940,814      $ 222,584,218      February 19, 2013     123,518,584        1,576,420        121,942,164        0.9431        375,908        697,865   

March 4, 2013

  $ 222,584,218      $ 219,853,292      March 18, 2013     121,942,164        1,890,769        120,051,395        0.9285        337,373        1,035,239   

April 4, 2013

  $ 219,853,292      $ 213,275,244      April 16, 2013     120,051,395        5,375,752        114,675,643        0.8869        332,142        1,367,381   

May 4, 2013

  $ 213,275,244      $ 210,005,171      May 16, 2013     114,675,643        2,133,032        112,542,610        0.8704        317,269        1,684,650   

June 4, 2013

  $ 210,005,171      $ 206,578,601      June 17, 2013     112,542,610        2,273,025        110,269,586        0.8528        311,368        1,996,018   

July 3, 2013

  $ 206,578,601      $ 202,809,422      July 16, 2013     110,269,586        2,564,881        107,704,704        0.8330        305,079        2,301,097   

August 2, 2013

  $ 202,809,422      $ 199,038,413      August 16, 2013     107,704,704        2,566,154        105,138,550        0.8131        297,983        2,599,080   

September 3, 2013

  $ 199,038,413      $ 194,941,027      September 16, 2013     105,138,550        2,664,395        102,474,155        0.7925        290,883        2,889,963   

October 4, 2013

  $ 194,941,027      $ 185,845,674      October 16, 2013     102,474,155        7,022,406        95,451,748        0.7382        283,059        3,173,022   

November 4, 2013

  $ 185,845,674      $ 181,441,387      November 18, 2013     95,451,748        2,986,838        92,464,911        0.7151        264,083        3,437,106   

December 4, 2013

  $ 181,441,387      $ 177,158,512      December 16, 2013     92,464,911        2,907,939        89,556,972        0.6926        255,820        3,692,925   

January 4, 2014

  $ 177,158,512      $ 161,607,770      January 16, 2014     89,556,972        12,687,162        76,869,810        0.5945        247,774        3,940,699   

February 4, 2014

  $ 161,607,770      $ 158,426,727      February 17, 2014     76,869,810        2,208,438        74,661,372        0.5774        212,673        4,153,373   

March 4, 2014

  $ 158,426,727      $ 141,710,903      March 17, 2014     74,661,372        10,879,422        63,781,949        0.4933        206,563        4,359,936   

April 4, 2014

  $ 141,710,903      $ 120,509,617      April 15, 2014     63,781,949        14,286,693        49,495,256        0.3828        176,463        4,536,399   

May 5, 2014

  $ 120,509,617      $ 118,022,900      May 5, 2014     49,495,256        1,444,243        48,051,013        0.3716        136,937        4,673,336   

 

General Reserve Account

 

Payment Date

  Beginning
Balance
    Plus: Required
Deposits
    Plus:
Interest
    Less: Excess over
General Reserve
Account Required
Balance
    Less:
Withdrawal
for Insufficient
Funds for
Required
Payments
    Less:
Withdrawal due
to Event of
Default
    Ending Balance     Reserve Balance
as a % of the
Outstanding
Principal Balance

of the Notes
 

January 16, 2013

  $ —        $ —        $ —        $ —        $ —        $ —        $ —          0.00

February 19, 2013

  $ —        $ 390,088      $ —        $ —        $ —        $ —        $ 390,088        0.32

March 16, 2013

  $ 390,088      $ 420,079      $ —        $ —        $ —        $ —        $ 810,167        0.66

April 16, 2013

  $ 810,167      $ —        $ —        $ —        $ 243,520      $ —        $ 566,646        0.47

May 16, 2013

  $ 566,646      $ 568,520      $ —        $ —        $ —        $ —        $ 1,135,167        0.99

June 17, 2013

  $ 1,135,167      $ 522,647      $ —        $ —        $ —        $ —        $ 1,657,814        1.47

July 16, 2013

  $ 1,657,814      $ 602,149      $ —        $ —        $ —        $ —        $ 2,259,963        2.05

August 16, 2013

  $ 2,259,963      $ 602,427      $ —        $ —        $ —        $ —        $ 2,862,390        2.66

September 16, 2013

  $ 2,862,390      $ 769,496      $ —        $ —        $ —        $ —        $ 3,631,886        3.45

October 16, 2013

  $ 3,631,886      $ 1,036,473      $ —        $ —        $ —        $ —        $ 4,668,359        4.56

November 18, 2013

  $ 4,668,359      $ 875,391      $ —        $ —        $ —        $ —        $ 5,543,750        5.81

December 16, 2013

  $ 5,543,750      $ 727,468      $ —        $ —        $ —        $ —        $ 6,271,218        6.78

January 16, 2014

  $ 6,271,218      $ —        $ —        $ 505,982      $ —        $ —        $ 5,765,236        7.50

February 17, 2014

  $ 5,765,236      $ —        $ —        $ 165,633      $ —        $ —        $ 5,599,603        7.50

March 17, 2014

  $ 5,599,603      $ —        $ —        $ 815,957      $ —        $ —        $ 4,783,646        7.50

April 15, 2014

  $ 4,783,646      $ —        $ —        $ 1,071,502      $ —        $ —        $ 3,712,144        7.50

May 15, 2014

  $ 3,712,144      $ —        $ —        $ 108,318      $ —        $ —        $ 3,603,826        7.50

 

Hercules Capital Funding Trust 2012-1   
Monthly Servicing Report for the Collection Period Ending May 5, 2014    Page 5 of 8


Pool Balance (by Obligor) Concentration

 

Obligor Count

  18   

 

Loan Status

   Loan Balance      % of
Loan Balance
 

Current

   $ 118,022,900         100

Restructured

   $ —           0

Defaulted

   $ —           0

Delinquent

   $ —           0
  

 

 

    

 

 

 

TOTAL

$ 118,022,900      100
  

 

 

    

 

 

 

 

Concentration Limits percentage of Loan Balance

  5   23   44

Concentration Limits in Dollars

$ 5,901,145    $ 27,145,267    $ 51,930,076   
     Single Obligor     Top Five     Top Ten  

Excess Concentration

      

OBLIGOR #25

   $ (5,013,617    

OBLIGOR #18

   $ (4,433,605    

OBLIGOR #26

   $ (4,098,855    

OBLIGOR #13

   $ (4,098,855    

OBLIGOR #7

   $ (3,860,528   $ (23,865,918  

OBLIGOR #23

   $ (3,505,913    

OBLIGOR #28

   $ (3,305,795    

OBLIGOR #16

   $ (2,494,901    

OBLIGOR #20

   $ (1,348,855    

OBLIGOR #5

   $ (1,278,968     $ (40,521,266

OBLIGOR #17

   $ (230,770    
  

 

 

   

 

 

   

 

 

 

Total

$ (33,670,662 $ (23,865,918 $ (40,521,266
  

 

 

   

 

 

   

 

 

 

 

Total Excess Concentration Amount

$ (40,521,266

Adjusted Pool Balance

$ 77,501,634   

 

Hercules Capital Funding Trust 2012-1
Monthly Servicing Report for the Collection Period Ending May 5, 2014 Page 6 of 8


Pool Balance and Note Schedules

 

Pool Balance

 

Ending Collection

Period Date

  Beginning Principal     Principal Collections*     Adjustment For
Substitution
    Other Collections     Ending Balance     Collateral Interest
Received
    Other
Collections
    Total
Collections
 

December 19, 2012

  $ 230,681,409      $ —        $ —          $ 230,681,409      $ —        $ —        $ —     

January 4, 2013

  $ 230,681,409      $ 5,740,595      $ —          $ 224,940,814      $ 2,084,457      $ —        $ 7,825,052   

February 4, 2013

  $ 224,940,814      $ 2,356,596      $ —          $ 222,584,218      $ 1,981,727      $ —        $ 4,338,323   

March 4, 2013

  $ 222,584,218      $ 2,730,927      $ —          $ 219,853,292      $ 1,770,085      $ —        $ 4,501,012   

April 4, 2013

  $ 219,853,292      $ 3,900,558      $ 2,677,489        $ 213,275,244      $ 1,935,178      $ 18,050      $ 5,853,787   

May 4, 2013

  $ 213,275,244      $ 3,270,073      $ —          $ 210,005,171      $ 1,846,576      $ —        $ 5,116,649   

June 4, 2013

  $ 210,005,171      $ 3,318,319      $ 108,251        $ 206,578,601      $ 1,977,416      $ —        $ 5,295,735   

July 3, 2013

  $ 206,578,601      $ 3,769,179      $ —          $ 202,809,422      $ 1,781,618      $ —        $ 5,550,798   

August 2, 2013

  $ 202,809,422      $ 3,771,009      $ —          $ 199,038,413      $ 1,805,042      $ —        $ 5,576,051   

September 3, 2013

  $ 199,038,413      $ 4,097,386      $ —        $ 106,000      $ 194,941,027      $ 1,784,734      $ —        $ 5,988,120   

October 4, 2013

  $ 194,941,027      $ 9,095,353      $ —          $ 185,845,674      $ 1,608,996      $ —        $ 10,704,349   

November 4, 2013

  $ 185,845,674      $ 4,099,288      $ 305,000      $ 333,333      $ 181,441,387      $ 1,634,167      $ —        $ 6,371,788   

December 4, 2013

  $ 181,441,387      $ 4,282,874      $ —        $ 80,000      $ 177,158,512      $ 1,573,172      $ —        $ 5,936,046   

January 4, 2014

  $ 177,158,512      $ 15,550,742      $ —        $ 12,383      $ 161,607,770      $ 1,555,000      $ —        $ 17,118,125   

February 4, 2014

  $ 161,607,770      $ 3,181,044      $ —        $ 650,659      $ 158,426,727      $ 1,374,048      $ —        $ 5,205,750   

March 4, 2014

  $ 158,426,727      $ 16,715,823      $ —        $ 661,525      $ 141,710,903      $ 1,360,269      $ —        $ 18,737,617   

April 4, 2014

  $ 141,710,903      $ 21,201,286      $ —        $ 3,184,388      $ 120,509,617      $ 1,343,993      $ —        $ 25,729,667   

May 5, 2014

  $ 120,509,617      $ 2,486,716      $ —        $ —        $ 118,022,900      $ 1,115,998      $ —        $ 3,602,715   

 

Note Balance - Class A Notes

 

Payment Date

   Beginning Principal      Principal Paydown        Ending Balance      Note Factor  

December 19, 2012

   $ 129,300,000            $ 129,300,000         1.000000   

January 16, 2013

   $ 129,300,000       $ 5,781,416         $ 123,518,584         0.955287   

February 19, 2013

   $ 123,518,584       $ 1,576,420         $ 121,942,164         0.943095   

March 18, 2013

   $ 121,942,164       $ 1,890,769         $ 120,051,395         0.928472   

April 16, 2013

   $ 120,051,395       $ 5,375,752         $ 114,675,643         0.886896   

May 16, 2013

   $ 114,675,643       $ 2,133,032         $ 112,542,610         0.870399   

June 17, 2013

   $ 112,542,610       $ 2,273,025         $ 110,269,586         0.852820   

July 16, 2013

   $ 110,269,586       $ 2,564,881         $ 107,704,704         0.832983   

August 16, 2013

   $ 107,704,704       $ 2,566,154         $ 105,138,550         0.813137   

September 16, 2013

   $ 105,138,550       $ 2,664,395         $ 102,474,155         0.792530   

October 16, 2013

   $ 102,474,155       $ 7,022,406         $ 95,451,748         0.738219   

November 18, 2013

   $ 95,451,748       $ 2,986,838         $ 92,464,911         0.715119   

December 16, 2013

   $ 92,464,911       $ 2,907,939         $ 89,556,972         0.692629   

January 16, 2014

   $ 89,556,972       $ 12,687,162         $ 76,869,810         0.594507   

February 17, 2014

   $ 76,869,810       $ 2,208,438         $ 74,661,372         0.577427   

March 17, 2014

   $ 74,661,372       $ 10,879,422         $ 63,781,949         0.493287   

April 15, 2014

   $ 63,781,949       $ 14,286,693         $ 49,495,256         0.382794   

May 15, 2014

   $ 49,495,256       $ 1,444,243         $ 48,051,013         0.371624   

 

* Principal Collections can potentially include fees and other payments

 

Hercules Capital Funding Trust 2012-1   
Monthly Servicing Report for the Collection Period Ending May 5, 2014    Page 7 of 8


Pool Balance - End of Period

 

OBLIGOR
NAME
Dec-12   Jan-13   Feb-13   Mar-13   Apr-13   May-13   Jun-13   Jul-13   Aug-13   Sep-13   Oct-13   Nov-13   Dec-13   Jan-14   Feb-14   Mar-14   Apr-14   May-14  

OBLIGOR #1

$ 8,172,429    $ 7,861,069    $ 7,547,429    $ 7,226,148    $ 6,907,861    $ 6,585,614    $ 6,262,639    $ 5,935,821    $ 5,608,090    $ 5,277,960    $ 4,944,167    $ 4,609,177    $ 4,270,648    $ —      $ —      $ —      $ —      $ —     

OBLIGOR #2

$ 5,052,335    $ 4,572,047    $ 4,087,313    $ 3,594,431    $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #3

$ 9,230,769    $ 8,846,154    $ 8,461,538    $ 8,076,923    $ 7,692,308    $ 7,307,692    $ 6,923,077    $ 6,538,462    $ 6,153,846    $ 5,769,231    $ 5,384,615    $ 5,000,000    $ 4,615,385    $ 4,230,769    $ 3,846,154    $ 3,461,539    $ 3,076,923    $ 2,692,308   

OBLIGOR #4

$ 11,292,550    $ 10,871,709    $ 10,447,046    $ 10,009,339    $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #5

$ 12,555,645    $ 12,555,645    $ 12,555,645    $ 12,555,645    $ 12,198,390    $ 11,833,442    $ 11,468,786    $ 11,096,603    $ 10,724,397    $ 10,348,377    $ 9,965,083    $ 9,581,282    $ 9,190,380    $ 8,798,641    $ 8,402,887    $ 7,994,745    $ 7,590,753    $ 7,180,113   

OBLIGOR #6

$ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #7

$ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673   

OBLIGOR #8

$ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 14,553,670    $ 14,107,639    $ 13,654,431    $ 13,201,238    $ 13,201,238    $ —      $ —      $ —     

OBLIGOR #9

$ 3,822,324    $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #10

$ 1,000,000    $ 1,000,000    $ 1,000,000    $ 966,343    $ 933,243    $ 899,586    $ 865,897    $ 831,664    $ 797,375    $ 762,784    $ 727,670    $ 692,464    $ 656,749    $ 620,917    $ 584,768    $ 547,801    $ 511,007    $ 473,743   

OBLIGOR #11

$ 3,758,211    $ 3,563,606    $ 3,367,447    $ 3,167,242    $ 2,968,011    $ 2,766,494    $ 2,564,157    $ 2,359,611    $ 2,154,121    $ 1,947,038    $ 1,737,864    $ 1,527,555    $ 1,315,235    $ 1,101,651    $ 886,411    $ 668,839    $ 450,245    $ 229,845   

OBLIGOR #12

$ 8,000,000    $ 8,000,000    $ 8,000,000    $ 8,000,000    $ 7,703,704    $ 7,407,407    $ 7,111,111    $ 6,814,815    $ 6,518,519    $ 6,222,222    $ 5,925,926    $ 5,629,630    $ 5,333,333    $ 5,037,037    $ 4,740,741    $ 4,444,444    $ 4,148,148    $ 3,851,852   

OBLIGOR #13

$ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000   

OBLIGOR #14

$ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 14,567,912    $ 14,131,732    $ 13,678,466    $ —      $ —     

OBLIGOR #15

$ 5,000,000    $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 4,880,240    $ 4,760,835    $ 4,640,408    $ 4,517,666    $ 4,395,155    $ 4,270,380    $ 4,145,750    $ 4,020,052    $ 3,889,944    $ 3,762,055    $ 3,632,030   

OBLIGOR #16

$ 15,000,000    $ 15,000,000    $ 14,573,778    $ 14,128,579    $ 13,693,352    $ 13,249,064    $ 12,804,749    $ 12,351,575    $ 11,897,986    $ 11,439,710    $ 10,972,886    $ 10,505,051    $ 10,028,879    $ 9,551,290    $ 9,068,764    $ 8,572,185    $ 8,572,185    $ 8,396,046   

OBLIGOR #17

$ 10,000,000    $ 10,000,000    $ 10,000,000    $ 9,711,183    $ 9,428,358    $ 9,140,353    $ 8,852,490    $ 8,559,565    $ 8,266,576    $ 7,971,001    $ 7,670,547    $ 7,369,711    $ 7,064,121    $ 6,757,933    $ 6,449,041    $ 6,131,915    $ 6,131,915    $ 6,131,915   

OBLIGOR #18

$ 13,749,133    $ 13,749,133    $ 13,749,133    $ 13,749,133    $ 11,749,133    $ 11,389,840    $ 11,030,718    $ 10,665,363    $ 10,299,863    $ 9,931,335    $ 9,556,937    $ 9,249,519    $ 8,801,783    $ 8,420,762    $ 8,420,762    $ 8,420,762    $ 8,420,762    $ 8,420,762   

OBLIGOR #18

$ 2,000,000    $ 2,000,000    $ 2,000,000    $ 2,000,000    $ 2,000,000    $ 2,000,000    $ 2,000,000    $ 2,000,000    $ 2,000,000    $ 1,913,989    $ 1,913,989    $ 1,913,989    $ 1,913,989    $ 1,913,989   

OBLIGOR #19

$ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 9,711,251    $ 9,422,842    $ 9,131,539    $ 4,031,539    $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #20

$ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000   

OBLIGOR #21

$ 5,000,000    $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 4,845,939    $ 4,690,274    $ 4,534,612    $ 4,377,391    $ 4,220,113    $ 4,062,022    $ 3,902,438    $ 3,742,706    $ 3,581,525    $ —      $ —      $ —      $ —      $ —     

OBLIGOR #21

$ 5,000,000    $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 4,851,509    $ 4,700,720    $ 4,549,975    $ 4,396,987    $ 4,243,953    $ 4,089,765    $ 3,933,422    $ 3,776,895    $ 3,618,270    $ —      $ —      $ —      $ —      $ —     

OBLIGOR #22

$ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 5,833,332    $ 5,666,665    $ 5,499,997    $ 5,333,329    $ 5,166,662    $ 4,999,994    $ 4,833,326   

OBLIGOR #23

$ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 9,706,012    $ 9,407,058   

OBLIGOR #24

$ 8,283,251    $ 8,156,689    $ 8,030,126    $ 7,903,564    $ 7,777,001    $ 7,608,251    $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #25

$ 8,000,000    $ 8,000,000    $ 8,000,000    $ 8,000,000    $ 8,000,000    $ 7,900,000    $ 7,800,000    $ 7,700,000    $ 7,600,000    $ 7,200,000    $ 7,100,000    $ 7,000,000    $ 6,900,000    $ 6,800,000    $ 6,700,000    $ 6,600,000    $ 6,500,000    $ 6,400,000   

OBLIGOR #25

$ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762   

OBLIGOR #26

$ —      $ —      $ —      $ —      $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000   

OBLIGOR #27

$ —      $ —      $ —      $ —      $ —      $ —      $ 7,283,956    $ 7,063,640    $ 6,843,463    $ 6,621,201    $ 6,394,809    $ 6,168,297    $ 5,937,754    $ 5,706,912    $ 5,473,884    $ 5,233,631    $ —      $ —     

OBLIGOR #28

$ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 9,733,008    $ 9,472,654    $ 9,206,940   

OBLIGOR #29

$ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ 3,726,539    $ 3,726,539    $ 3,726,539    $ 3,726,539    $ 3,726,539    $ 3,726,539    $ 3,726,539   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

TOTAL

$ 230,681,409    $ 224,940,814    $ 222,584,218    $ 219,853,292    $ 213,275,244    $ 210,005,171    $ 206,578,601    $ 202,809,422    $ 199,038,413    $ 194,941,027    $ 185,845,674    $ 181,441,387    $ 177,158,512    $ 161,607,770    $ 158,426,727    $ 141,710,903    $ 120,509,617    $ 118,022,900   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

Hercules Capital Funding Trust 2012-1
Monthly Servicing Report for the Collection Period Ending May 5, 2014 Page 8 of 8


 

LOGO

Monthly Servicer Report

On Behalf of Hercules Capital Funding Trust 2012-1

Prepared: For the collection period ending June 5, 2014

 

 

Hercules Capital Funding Trust 2012-1
Monthly Servicing Report for the Collection Period Ending June 5, 2014 Page 1 of 8


Monthly Servicer Report

On Behalf of Hercules Capital Funding Trust 2012-1

 

First Day of Collection Period May 6, 2014
Last Day of Collection Period June 5, 2014
Payment Date June 16, 2014

Available Funds

On each Payment Date, payments on the Notes will be made from the following sources (collectively, “Available Funds”):

 

Obligor payments

Interest Received

$ 1,106,807   

Principal Received

$ 2,682,705   

Other Obligor Payments

$ 50,000   
  

 

 

 

Obligor payments received with respect to the Loans during the preceding Collection Period;

$ 3,839,512   

Liquidation proceeds received with respect to the Loans during the preceding Collection Period;

$ —     

Interest earned on funds on deposit in the Collection Account, the Interest Reserve Account and the Expense Reserve Account;

Proceeds from any optional sale of Loans;

$ —     

Payments made by the Seller, the Depositor or the Servicer in connection with the required repurchase or purchase of Loans; and

$ —     

Scheduled Payment Advances

$ —     
  

 

 

 

Total Available Funds

$ 3,839,512   
  

 

 

 

 

Hercules Capital Funding Trust 2012-1
Monthly Servicing Report for the Collection Period Ending June 5, 2014 Page 2 of 8


Waterfall Calculations

 

Interest Collections

$ 1,106,807   
(1) Trustee, the Owner Trustee, the Backup Servicer, the Custodian and the Lockbox Bank, pro rata, any accrued and unpaid fees, expenses and indemnities then due to each of them with rolling twelve-month limit of $500K

US Bank Trustee - Annual Administrative Fee

$ 2,083   

US Bank Back Up Servicer - Annual Administrative Fee

$ 2,000   

US Bank Custodian - Monthly Fees

$ 150   

US Bank Lockbox Fees

$ 272   
    

 

 

 

Total due to Trustee/Owner Trustee/Backup Servicer/Custodian/Lockbox Bank fees/Rating Agency

$ 4,505   
The Servicing Fee shall be equal to the sum of the product of: (i) one-twelfth of 2.00% (or, with respect to the first Collection Period, a fraction equal to the number of days from and including the Cutoff Date through and including January 15, 2013 over 360) and (ii) the Aggregate Outstanding Pool Balance as of the beginning of the related Collection Period.     
(2) Servicer or any Successor Servicer, any previously unreimbursed Scheduled Payment Advances, Servicing Advances, the Servicing Fee for the related calendar month, any supplemental servicing fees for the related calendar month, any reimbursements for mistaken deposits and other related amounts and certain other amounts due on the Loans that the Servicer is entitled to retain; to the Seller, amounts deposited into the Lockbox Account but not related to interest, principal or extension fees due on the Loans; a one-time servicer engagement fee to the Backup Servicer (upon becoming Successor Servicer) of $125K; and costs and expenses, if any, incurred by the Trustee or by any Successor Servicer (including the Backup Servicer) in connection with the transfer of servicing to any Successor Servicer, which shall not exceed $50K for a servicing transfer to the Backup Servicer or 175K to any other Successor Servicer $ —     

First day of collection period

  May 6, 2014   

Aggregate Outstanding Pool Balance as of beginning of Collection Period

$ 121,625,615   

Applicable Servicing Fee %

  2.00

Number of Days to calculate

  0.08   
    

 

 

 

Total Servicing Fee

$ 202,709   
(3) Accrued interest due on the Notes, which is the sum of (i) the aggregate amount of interest due and accrued for the related Interest Period on the Notes; and (ii) the excess, if any, of the amount of interest remaining due and payable on the Notes on prior Payment Dates over the amounts in respect of interest actually paid on the Notes on such Payment Dates, plus interest on any such shortfall at the interest rate for the Notes

Outstanding Balance of Notes After Last Payment Date

$ 48,051,013   

Applicable Rate

  3.32
  

 

 

   

Interest due and accrued for related interest period

$ 132,941   

Interest unpaid and due from prior payment date

$ —     

Plus interest on interest unpaid and due from prior payment date

$ —     

Total Accrued Interest Due

$ 132,941   
(4) Principal on the Notes in the amounts required under “Principal Collections” below, but only to the extent not paid in full from Principal Collections

Outstanding Balance of Notes After Last Payment Date

$ 48,051,013   

Target Principal Amortization

$ 1,503,724   

Principal Payments Received from Principal Collections

$ (1,503,724

Principal Payments Received from Reserve Account

$ —     

Principal Payments Received from Interest Collections

$ —      $ —     
    

 

 

 

Note Balance after Principal Payment

$ 46,547,289   
(5) Pay each of the Trustee, the Owner Trustee, the Backup Servicer, any Successor Servicer, the Custodian and the Lockbox Bank, pro rata, any fees and expenses then due to such party that are in excess of the related cap or annual limitation $ —     
(6) Pay all remaining amounts to the Certificateholder   766,651   

Principal and Other Obligor Payment Collections

$ 2,732,705   
(1) Pay the amounts under “Interest Collections”, but only to the extent not paid in full from Interest Collections $ —     
(2) (A) for so long as no Rapid Amortization Event has occurred, to pay principal on the Notes in an amount equal to the excess, if any, of the outstanding principal amount of the Notes over the Borrowing Base and (B) following the occurrence of any Rapid Amortization Event, to pay outstanding principal on the Notes until the outstanding principal balance of the Notes is reduced to zero $ 1,503,724   
(3) Pay the remaining outstanding principal balance of the Notes on the Legal Final Payment Date $ —     
(4) The amount on deposit in the Reserve Account is more than the Reserve Account Required Balance, to the Certificateholder, the balance in the Reserve Account that is in excess of 7.5% of the Aggregate Outstanding Principal Balance of the Notes after taking into account paydowns on the Notes made on the applicable Payment Date $ (112,779
(5) Pay the amounts referred to in clause (5) under “Interest Collections” above, but only to the extent not paid in full from Interest Collections; $ —     
(6) Pay all remaining amounts to the Certificateholder $ 1,341,760   

 

Hercules Capital Funding Trust 2012-1
Monthly Servicing Report for the Collection Period Ending June 5, 2014 Page 3 of 8


Borrowing Base and Required Note Payments

As of:

   June 5, 2014   

 

First Day of Collection Period

   May 6, 2014   

Last Day of Collection Period

   June 5, 2014   

Payment Date

   June 16, 2014   

 

Borrowing Base

              
  

Adjusted Pool Balance

           
     

Pool Balance

         $ 115,340,195   
     

Total Excess Concentration Amount

         $ (40,263,922
     

Outstanding Balance of all Delinquent Loans

         $ —     
     

Outstanding Balance of all Restructured Loans

         $ —     
              

 

 

 
Total Adjusted Pool Balance $ 75,076,273   

Advance Rate

  62.0
              

 

 

 
$ 46,547,289   
              

 

 

 

Borrowing Base

Beginning Outstanding Note Balance

$ 48,051,013   

Rapid Amortization

$ —     
              

 

 

 

Required Payment on Notes

$ 1,503,724   

Rapid Amortization Event

Restructured Loan

Loan that has been, or in accordance with the Credit Monitoring Guidelines is required to be, modified or restructured to extend the maturity thereof or reduce the amount (other than by reason of the repayment thereof) or extend the time for payment of principal thereof, in each case as a result of the Obligor’s material financial underperformance, distress or default. Such Loan shall cease to be a Restructured Loan when such Loan has been performing for at least six consecutive months since the date the most recent modification was made and is no longer required to be so modified or restructured in accordance with the Credit Monitoring Guidelines.

 

Reporting Date

   Obligor Name    Modification Date    Loan Balance    Total Restructured Amt
in last 6 months

 

Delinquent Loan

             
  Loan which is more than forty-five (45) days delinquent in payment; provided, however, that any Loan that has been substituted and replaced by the Issuer with a Substitute Loan pursuant to Section 2.04 and Section 2.06 will not be deemed to be a Delinquent Loan.   

 

     Days of Delinquency         
     31 to 59      60 to 89      90+      Total  

N/A

   $ —         $ —         $ —         $ —     

Total

   $ —         $ —         $ —         $ —     

 

Defaulted Loan

              
   Loan in the Collateral as to which the earliest of the following has occurred: (i) any payment, or any part of any payment in excess of 90%, due under such Loan (taking into account any waivers or modifications granted by the Servicer on such Loan) has become 120 days or more delinquent, whether or not the Servicer has foreclosed upon the related Collateral or if the related obligor is insolvent or has declared bankruptcy and the Loan is more than 180 days delinquent; (ii) the Servicer has foreclosed upon and sold the related collateral; (iii) 90 days has elapsed since the related Collateral was foreclosed upon by the Servicer; or (iv) the Servicer has determined in accordance with its customary practices that the Loan is uncollectible or the final recoverable amounts have been received.   

 

Reporting Date

   Obligor Name    Defaulted Date    Loan Balance    Days of Default

N/A

           

 

Aggregate Outstanding Principal Balance of the Notes exceeds the Borrowing Base for a period of three (3) consecutive calendar months   

 

Date

   Ending Outstanding
Note Balances
   Borrowing Base    Balance >
Borrowing
Base
    

N/A

              

 

Loans in the Collateral consist of Loans to 10 or fewer Obligors

              

 

     Obligor Count    Count >
10
    

N/A

        

 

An Event of Default

              

 

           

N/A

  

 

Hercules Capital Funding Trust 2012-1   
Monthly Servicing Report for the Collection Period Ending June 5, 2014    Page 4 of 8


Pool Balance, Note and General Reserve Schedules

 

Pool Balance

   

Note Balances

 

Ending Collection

Period Date

  Beginning
Pool Balance
    Ending Pool
Balance
   

Payment

Date

  Beginning
Balance
    Principal
Payment
    Ending
Balance
    Note
Factor
    Note
Interest
Paid
    Cumulative
Interest
Paid
 

January 4, 2013

  $ 230,681,409      $ 224,940,814      January 16, 2013     129,300,000        5,781,416        123,518,584        0.9553        321,957        321,957   

February 4, 2013

  $ 224,940,814      $ 222,584,218      February 19, 2013     123,518,584        1,576,420        121,942,164        0.9431        375,908        697,865   

March 4, 2013

  $ 222,584,218      $ 219,853,292      March 18, 2013     121,942,164        1,890,769        120,051,395        0.9285        337,373        1,035,239   

April 4, 2013

  $ 219,853,292      $ 213,275,244      April 16, 2013     120,051,395        5,375,752        114,675,643        0.8869        332,142        1,367,381   

May 4, 2013

  $ 213,275,244      $ 210,005,171      May 16, 2013     114,675,643        2,133,032        112,542,610        0.8704        317,269        1,684,650   

June 4, 2013

  $ 210,005,171      $ 206,578,601      June 17, 2013     112,542,610        2,273,025        110,269,586        0.8528        311,368        1,996,018   

July 3, 2013

  $ 206,578,601      $ 202,809,422      July 16, 2013     110,269,586        2,564,881        107,704,704        0.8330        305,079        2,301,097   

August 2, 2013

  $ 202,809,422      $ 199,038,413      August 16, 2013     107,704,704        2,566,154        105,138,550        0.8131        297,983        2,599,080   

September 3, 2013

  $ 199,038,413      $ 194,941,027      September 16, 2013     105,138,550        2,664,395        102,474,155        0.7925        290,883        2,889,963   

October 4, 2013

  $ 194,941,027      $ 185,845,674      October 16, 2013     102,474,155        7,022,406        95,451,748        0.7382        283,059        3,173,022   

November 4, 2013

  $ 185,845,674      $ 181,441,387      November 18, 2013     95,451,748        2,986,838        92,464,911        0.7151        264,083        3,437,106   

December 4, 2013

  $ 181,441,387      $ 177,158,512      December 16, 2013     92,464,911        2,907,939        89,556,972        0.6926        255,820        3,692,925   

January 4, 2014

  $ 177,158,512      $ 161,607,770      January 16, 2014     89,556,972        12,687,162        76,869,810        0.5945        247,774        3,940,699   

February 4, 2014

  $ 161,607,770      $ 158,426,727      February 17, 2014     76,869,810        2,208,438        74,661,372        0.5774        212,673        4,153,373   

March 4, 2014

  $ 158,426,727      $ 141,710,903      March 17, 2014     74,661,372        10,879,422        63,781,949        0.4933        206,563        4,359,936   

April 4, 2014

  $ 141,710,903      $ 120,509,617      April 15, 2014     63,781,949        14,286,693        49,495,256        0.3828        176,463        4,536,399   

May 5, 2014

  $ 120,509,617      $ 118,022,900      May 15, 2014     49,495,256        1,444,243        48,051,013        0.3716        136,937        4,673,336   

June 5, 2014

  $ 118,022,900      $ 115,340,195      June 16, 2014     48,051,013        1,503,724        46,547,289        0.3600        132,941        4,806,277   

 

General Reserve Account

 

Payment Date

  Beginning
Balance
    Plus: Required
Deposits
    Plus:
Interest
    Less: Excess over
General Reserve
Account Required
Balance
    Less:
Withdrawal
for Insufficient
Funds for
Required
Payments
    Less:
Withdrawal due
to Event of
Default
    Ending Balance     Reserve Balance
as a % of the
Outstanding
Principal Balance
of the Notes
 

January 16, 2013

  $ —        $ —        $ —        $ —        $ —        $ —        $ —          0.00

February 19, 2013

  $ —        $ 390,088      $ —        $ —        $ —        $ —        $ 390,088        0.32

March 16, 2013

  $ 390,088      $ 420,079      $ —        $ —        $ —        $ —        $ 810,167        0.66

April 16, 2013

  $ 810,167      $ —        $ —        $ —        $ 243,520      $ —        $ 566,646        0.47

May 16, 2013

  $ 566,646      $ 568,520      $ —        $ —        $ —        $ —        $ 1,135,167        0.99

June 17, 2013

  $ 1,135,167      $ 522,647      $ —        $ —        $ —        $ —        $ 1,657,814        1.47

July 16, 2013

  $ 1,657,814      $ 602,149      $ —        $ —        $ —        $ —        $ 2,259,963        2.05

August 16, 2013

  $ 2,259,963      $ 602,427      $ —        $ —        $ —        $ —        $ 2,862,390        2.66

September 16, 2013

  $ 2,862,390      $ 769,496      $ —        $ —        $ —        $ —        $ 3,631,886        3.45

October 16, 2013

  $ 3,631,886      $ 1,036,473      $ —        $ —        $ —        $ —        $ 4,668,359        4.56

November 18, 2013

  $ 4,668,359      $ 875,391      $ —        $ —        $ —        $ —        $ 5,543,750        5.81

December 16, 2013

  $ 5,543,750      $ 727,468      $ —        $ —        $ —        $ —        $ 6,271,218        6.78

January 16, 2014

  $ 6,271,218      $ —        $ —        $ 505,982      $ —        $ —        $ 5,765,236        7.50

February 17, 2014

  $ 5,765,236      $ —        $ —        $ 165,633      $ —        $ —        $ 5,599,603        7.50

March 17, 2014

  $ 5,599,603      $ —        $ —        $ 815,957      $ —        $ —        $ 4,783,646        7.50

April 15, 2014

  $ 4,783,646      $ —        $ —        $ 1,071,502      $ —        $ —        $ 3,712,144        7.50

May 15, 2014

  $ 3,712,144      $ —        $ —        $ 108,318      $ —        $ —        $ 3,603,826        7.50

June 16, 2014

  $ 3,603,826      $ —        $ —        $ 112,779      $ —        $ —        $ 3,491,047        7.50

 

Hercules Capital Funding Trust 2012-1   
Monthly Servicing Report for the Collection Period Ending June 5, 2014    Page 5 of 8


Pool Balance (by Obligor) Concentration

 

Obligor Count

  17   

 

Loan Status

   Loan Balance      % of
Loan Balance
 

Current

   $ 115,340,195         100

Restructured

   $ —           0

Defaulted

   $ —           0

Delinquent

   $ —           0
  

 

 

    

 

 

 

TOTAL

$ 115,340,195      100
  

 

 

    

 

 

 

 

Concentration Limits percentage of Loan Balance

  5   23   44

Concentration Limits in Dollars

$ 5,767,010    $ 26,528,245    $ 50,749,686   
     Single Obligor     Top Five     Top Ten  

Excess Concentration

      

OBLIGOR #25

   $ (5,047,752    

OBLIGOR #18

   $ (4,567,741    

OBLIGOR #26

   $ (4,232,990    

OBLIGOR #13

   $ (4,232,990    

OBLIGOR #7

   $ (3,994,663   $ (24,382,940  

OBLIGOR #23

   $ (3,341,209    

OBLIGOR #28

   $ (3,174,593    

OBLIGOR #16

   $ (2,431,077    

OBLIGOR #20

   $ (1,319,731    

OBLIGOR #5

   $ (1,000,764     $ (40,263,922

OBLIGOR #17

   $ (364,905    
  

 

 

   

 

 

   

 

 

 

Total

$ (33,708,416 $ (24,382,940 $ (40,263,922
  

 

 

   

 

 

   

 

 

 

 

Total Excess Concentration Amount

$ (40,263,922

Adjusted Pool Balance

$ 75,076,273   

 

Hercules Capital Funding Trust 2012-1
Monthly Servicing Report for the Collection Period Ending June 5, 2014 Page 6 of 8


Pool Balance and Note Schedules

 

Pool Balance

 

Ending Collection

Period Date

   Beginning Principal      Principal Collections*      Adjustment For
Substitution
     Other Collections      Ending Balance      Collateral Interest
Received
     Other
Collections
     Total Collections  

December 19, 2012

   $ 230,681,409       $ —         $ —            $ 230,681,409       $ —         $ —         $ —     

January 4, 2013

   $ 230,681,409       $ 5,740,595       $ —            $ 224,940,814       $ 2,084,457       $ —         $ 7,825,052   

February 4, 2013

   $ 224,940,814       $ 2,356,596       $ —            $ 222,584,218       $ 1,981,727       $ —         $ 4,338,323   

March 4, 2013

   $ 222,584,218       $ 2,730,927       $ —            $ 219,853,292       $ 1,770,085       $ —         $ 4,501,012   

April 4, 2013

   $ 219,853,292       $ 3,900,558       $ 2,677,489          $ 213,275,244       $ 1,935,178       $ 18,050       $ 5,853,787   

May 4, 2013

   $ 213,275,244       $ 3,270,073       $ —            $ 210,005,171       $ 1,846,576       $ —         $ 5,116,649   

June 4, 2013

   $ 210,005,171       $ 3,318,319       $ 108,251          $ 206,578,601       $ 1,977,416       $ —         $ 5,295,735   

July 3, 2013

   $ 206,578,601       $ 3,769,179       $ —            $ 202,809,422       $ 1,781,618       $ —         $ 5,550,798   

August 2, 2013

   $ 202,809,422       $ 3,771,009       $ —            $ 199,038,413       $ 1,805,042       $ —         $ 5,576,051   

September 3, 2013

   $ 199,038,413       $ 4,097,386       $ —         $ 106,000       $ 194,941,027       $ 1,784,734       $ —         $ 5,988,120   

October 4, 2013

   $ 194,941,027       $ 9,095,353       $ —            $ 185,845,674       $ 1,608,996       $ —         $ 10,704,349   

November 4, 2013

   $ 185,845,674       $ 4,099,288       $ 305,000       $ 333,333       $ 181,441,387       $ 1,634,167       $ —         $ 6,371,788   

December 4, 2013

   $ 181,441,387       $ 4,282,874       $ —         $ 80,000       $ 177,158,512       $ 1,573,172       $ —         $ 5,936,046   

January 4, 2014

   $ 177,158,512       $ 15,550,742       $ —         $ 12,383       $ 161,607,770       $ 1,555,000       $ —         $ 17,118,125   

February 4, 2014

   $ 161,607,770       $ 3,181,044       $ —         $ 650,659       $ 158,426,727       $ 1,374,048       $ —         $ 5,205,750   

March 4, 2014

   $ 158,426,727       $ 16,715,823       $ —         $ 661,525       $ 141,710,903       $ 1,360,269       $ —         $ 18,737,617   

April 4, 2014

   $ 141,710,903       $ 21,201,286       $ —         $ 3,184,388       $ 120,509,617       $ 1,343,993       $ —         $ 25,729,667   

May 5, 2014

   $ 120,509,617       $ 2,486,716       $ —         $ —         $ 118,022,900       $ 1,115,998       $ —         $ 3,602,715   

June 5, 2014

   $ 118,022,900       $ 2,682,705       $ —         $ 50,000       $ 115,340,195       $ 1,106,807       $ —         $ 3,839,512   

 

Note Balance - Class A Notes

 

Payment Date

   Beginning Principal      Principal Paydown        Ending Balance      Note Factor  

December 19, 2012

   $ 129,300,000            $ 129,300,000         1.000000   

January 16, 2013

   $ 129,300,000       $ 5,781,416         $ 123,518,584         0.955287   

February 19, 2013

   $ 123,518,584       $ 1,576,420         $ 121,942,164         0.943095   

March 18, 2013

   $ 121,942,164       $ 1,890,769         $ 120,051,395         0.928472   

April 16, 2013

   $ 120,051,395       $ 5,375,752         $ 114,675,643         0.886896   

May 16, 2013

   $ 114,675,643       $ 2,133,032         $ 112,542,610         0.870399   

June 17, 2013

   $ 112,542,610       $ 2,273,025         $ 110,269,586         0.852820   

July 16, 2013

   $ 110,269,586       $ 2,564,881         $ 107,704,704         0.832983   

August 16, 2013

   $ 107,704,704       $ 2,566,154         $ 105,138,550         0.813137   

September 16, 2013

   $ 105,138,550       $ 2,664,395         $ 102,474,155         0.792530   

October 16, 2013

   $ 102,474,155       $ 7,022,406         $ 95,451,748         0.738219   

November 18, 2013

   $ 95,451,748       $ 2,986,838         $ 92,464,911         0.715119   

December 16, 2013

   $ 92,464,911       $ 2,907,939         $ 89,556,972         0.692629   

January 16, 2014

   $ 89,556,972       $ 12,687,162         $ 76,869,810         0.594507   

February 17, 2014

   $ 76,869,810       $ 2,208,438         $ 74,661,372         0.577427   

March 17, 2014

   $ 74,661,372       $ 10,879,422         $ 63,781,949         0.493287   

April 15, 2014

   $ 63,781,949       $ 14,286,693         $ 49,495,256         0.382794   

May 15, 2014

   $ 49,495,256       $ 1,444,243         $ 48,051,013         0.371624   

June 16, 2014

   $ 48,051,013       $ 1,503,724         $ 46,547,289         0.359995   

 

* Principal Collections can potentially include fees and other payments

 

Hercules Capital Funding Trust 2012-1   
Monthly Servicing Report for the Collection Period Ending June 5, 2014    Page 7 of 8


Pool Balance - End of Period

 

OBLIGOR
NAME
Dec-12   Jan-13   Feb-13   Mar-13   Apr-13   May-13   Jun-13   Jul-13   Aug-13   Sep-13   Oct-13   Nov-13   Dec-13   Jan-14   Feb-14   Mar-14   Apr-14   May-14   Jun-14  

OBLIGOR #1

$ 8,172,429    $ 7,861,069    $ 7,547,429    $ 7,226,148    $ 6,907,861    $ 6,585,614    $ 6,262,639    $ 5,935,821    $ 5,608,090    $ 5,277,960    $ 4,944,167    $ 4,609,177    $ 4,270,648    $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #2

$ 5,052,335    $ 4,572,047    $ 4,087,313    $ 3,594,431    $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #3

$ 9,230,769    $ 8,846,154    $ 8,461,538    $ 8,076,923    $ 7,692,308    $ 7,307,692    $ 6,923,077    $ 6,538,462    $ 6,153,846    $ 5,769,231    $ 5,384,615    $ 5,000,000    $ 4,615,385    $ 4,230,769    $ 3,846,154    $ 3,461,539    $ 3,076,923    $ 2,692,308    $ 2,307,692   

OBLIGOR #4

$ 11,292,550    $ 10,871,709    $ 10,447,046    $ 10,009,339    $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #5

$ 12,555,645    $ 12,555,645    $ 12,555,645    $ 12,555,645    $ 12,198,390    $ 11,833,442    $ 11,468,786    $ 11,096,603    $ 10,724,397    $ 10,348,377    $ 9,965,083    $ 9,581,282    $ 9,190,380    $ 8,798,641    $ 8,402,887    $ 7,994,745    $ 7,590,753    $ 7,180,113    $ 6,767,774   

OBLIGOR #6

$ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #7

$ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673   

OBLIGOR #8

$ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 14,553,670    $ 14,107,639    $ 13,654,431    $ 13,201,238    $ 13,201,238    $ —      $ —      $ —      $ —     

OBLIGOR #9

$ 3,822,324    $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #10

$ 1,000,000    $ 1,000,000    $ 1,000,000    $ 966,343    $ 933,243    $ 899,586    $ 865,897    $ 831,664    $ 797,375    $ 762,784    $ 727,670    $ 692,464    $ 656,749    $ 620,917    $ 584,768    $ 547,801    $ 511,007    $ 473,743    $ 436,295   

OBLIGOR #11

$ 3,758,211    $ 3,563,606    $ 3,367,447    $ 3,167,242    $ 2,968,011    $ 2,766,494    $ 2,564,157    $ 2,359,611    $ 2,154,121    $ 1,947,038    $ 1,737,864    $ 1,527,555    $ 1,315,235    $ 1,101,651    $ 886,411    $ 668,839    $ 450,245    $ 229,845    $ —     

OBLIGOR #12

$ 8,000,000    $ 8,000,000    $ 8,000,000    $ 8,000,000    $ 7,703,704    $ 7,407,407    $ 7,111,111    $ 6,814,815    $ 6,518,519    $ 6,222,222    $ 5,925,926    $ 5,629,630    $ 5,333,333    $ 5,037,037    $ 4,740,741    $ 4,444,444    $ 4,148,148    $ 3,851,852    $ 3,555,556   

OBLIGOR #13

$ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000   

OBLIGOR #14

$ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 14,567,912    $ 14,131,732    $ 13,678,466    $ —      $ —      $ —     

OBLIGOR #15

$ 5,000,000    $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 4,880,240    $ 4,760,835    $ 4,640,408    $ 4,517,666    $ 4,395,155    $ 4,270,380    $ 4,145,750    $ 4,020,052    $ 3,889,944    $ 3,762,055    $ 3,632,030    $ 3,501,931   

OBLIGOR #16

$ 15,000,000    $ 15,000,000    $ 14,573,778    $ 14,128,579    $ 13,693,352    $ 13,249,064    $ 12,804,749    $ 12,351,575    $ 11,897,986    $ 11,439,710    $ 10,972,886    $ 10,505,051    $ 10,028,879    $ 9,551,290    $ 9,068,764    $ 8,572,185    $ 8,572,185    $ 8,396,046    $ 8,198,086   

OBLIGOR #17

$ 10,000,000    $ 10,000,000    $ 10,000,000    $ 9,711,183    $ 9,428,358    $ 9,140,353    $ 8,852,490    $ 8,559,565    $ 8,266,576    $ 7,971,001    $ 7,670,547    $ 7,369,711    $ 7,064,121    $ 6,757,933    $ 6,449,041    $ 6,131,915    $ 6,131,915    $ 6,131,915    $ 6,131,915   

OBLIGOR #18

$ 13,749,133    $ 13,749,133    $ 13,749,133    $ 13,749,133    $ 11,749,133    $ 11,389,840    $ 11,030,718    $ 10,665,363    $ 10,299,863    $ 9,931,335    $ 9,556,937    $ 9,249,519    $ 8,801,783    $ 8,420,762    $ 8,420,762    $ 8,420,762    $ 8,420,762    $ 8,420,762    $ 8,420,762   

OBLIGOR #18

$ 2,000,000    $ 2,000,000    $ 2,000,000    $ 2,000,000    $ 2,000,000    $ 2,000,000    $ 2,000,000    $ 2,000,000    $ 2,000,000    $ 1,913,989    $ 1,913,989    $ 1,913,989    $ 1,913,989    $ 1,913,989    $ 1,913,989   

OBLIGOR #19

$ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 9,711,251    $ 9,422,842    $ 9,131,539    $ 4,031,539    $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #20

$ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,086,741   

OBLIGOR #21

$ 5,000,000    $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 4,845,939    $ 4,690,274    $ 4,534,612    $ 4,377,391    $ 4,220,113    $ 4,062,022    $ 3,902,438    $ 3,742,706    $ 3,581,525    $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #21

$ 5,000,000    $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 4,851,509    $ 4,700,720    $ 4,549,975    $ 4,396,987    $ 4,243,953    $ 4,089,765    $ 3,933,422    $ 3,776,895    $ 3,618,270    $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #22

$ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 5,833,332    $ 5,666,665    $ 5,499,997    $ 5,333,329    $ 5,166,662    $ 4,999,994    $ 4,833,326    $ 4,666,659   

OBLIGOR #23

$ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 9,706,012    $ 9,407,058    $ 9,108,219   

OBLIGOR #24

$ 8,283,251    $ 8,156,689    $ 8,030,126    $ 7,903,564    $ 7,777,001    $ 7,608,251    $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #25

$ 8,000,000    $ 8,000,000    $ 8,000,000    $ 8,000,000    $ 8,000,000    $ 7,900,000    $ 7,800,000    $ 7,700,000    $ 7,600,000    $ 7,200,000    $ 7,100,000    $ 7,000,000    $ 6,900,000    $ 6,800,000    $ 6,700,000    $ 6,600,000    $ 6,500,000    $ 6,400,000    $ 6,300,000   

OBLIGOR #25

$ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762   

OBLIGOR #26

$ —      $ —      $ —      $ —      $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000   

OBLIGOR #27

$ —      $ —      $ —      $ —      $ —      $ —      $ 7,283,956    $ 7,063,640    $ 6,843,463    $ 6,621,201    $ 6,394,809    $ 6,168,297    $ 5,937,754    $ 5,706,912    $ 5,473,884    $ 5,233,631    $ —      $ —      $ —     

OBLIGOR #28

$ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 9,733,008    $ 9,472,654    $ 9,206,940    $ 8,941,603   

OBLIGOR #29

$ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ 3,726,539    $ 3,726,539    $ 3,726,539    $ 3,726,539    $ 3,726,539    $ 3,726,539    $ 3,726,539    $ 3,726,539   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

TOTAL

$ 230,681,409    $ 224,940,814    $ 222,584,218    $ 219,853,292    $ 213,275,244    $ 210,005,171    $ 206,578,601    $ 202,809,422    $ 199,038,413    $ 194,941,027    $ 185,845,674    $ 181,441,387    $ 177,158,512    $ 161,607,770    $ 158,426,727    $ 141,710,903    $ 120,509,617    $ 118,022,900    $ 115,340,195   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

Hercules Capital Funding Trust 2012-1
Monthly Servicing Report for the Collection Period Ending June 5, 2014 Page 8 of 8


 

LOGO

Monthly Servicer Report

On Behalf of Hercules Capital Funding Trust 2012-1

Prepared: For the collection period ending July 7, 2014

 

Hercules Capital Funding Trust 2012-1
Monthly Servicing Report for the Collection Period Ending July 7, 2014 Page 1 of 8


Monthly Servicer Report

On Behalf of Hercules Capital Funding Trust 2012-1

 

First Day of Collection Period June 6, 2014
Last Day of Collection Period July 7, 2014
Payment Date July 15, 2014

Available Funds

On each Payment Date, payments on the Notes will be made from the following sources (collectively, “Available Funds”):

 

Obligor payments

Interest Received

$ 1,041,611   

Principal Received

$ 15,969,314   

Other Obligor Payments

$ 730,625   
  

 

 

 

Obligor payments received with respect to the Loans during the preceding Collection Period;

$ 17,741,550   

Liquidation proceeds received with respect to the Loans during the preceding Collection Period;

$ —     

Interest earned on funds on deposit in the Collection Account, the Interest Reserve Account and the Expense Reserve Account;

Proceeds from any optional sale of Loans;

$ —     

Payments made by the Seller, the Depositor or the Servicer in connection with the required repurchase or purchase of Loans; and

$ —     

Scheduled Payment Advances

$ —     
  

 

 

 

Total Available Funds

$ 17,741,550   
  

 

 

 

 

Hercules Capital Funding Trust 2012-1
Monthly Servicing Report for the Collection Period Ending July 7, 2014 Page 2 of 8


Waterfall Calculations

 

Interest Collections

$ 1,041,611   

(1) Trustee, the Owner Trustee, the Backup Servicer, the Custodian and the Lockbox Bank, pro rata, any accrued and unpaid fees, expenses and indemnities then due to each of them with rolling twelve-month limit of $500K

US Bank Trustee - Annual Administrative Fee

$ 2,083   

US Bank Back Up Servicer - Annual Administrative Fee

$ 2,000   

US Bank Custodian - Monthly Fees

$ 150   

US Bank Lockbox Fees

$ 264   
    

 

 

 

Total due to Trustee/Owner Trustee/Backup Servicer/Custodian/Lockbox Bank fees/Rating Agency

$ 4,497   

The Servicing Fee shall be equal to the sum of the product of: (i) one-twelfth of 2.00% (or, with respect to the first Collection Period, a fraction equal to the number of days from and including the Cutoff Date through and including January 15, 2013 over 360) and (ii) the Aggregate Outstanding Pool Balance as of the beginning of the related Collection Period.

    

(2) Servicer or any Successor Servicer, any previously unreimbursed Scheduled Payment Advances, Servicing Advances, the Servicing Fee for the related calendar month, any supplemental servicing fees for the related calendar month, any reimbursements for mistaken deposits and other related amounts and certain other amounts due on the Loans that the Servicer is entitled to retain; to the Seller, amounts deposited into the Lockbox Account but not related to interest, principal or extension fees due on the Loans; a one-time servicer engagement fee to the Backup Servicer (upon becoming Successor Servicer) of $125K; and costs and expenses, if any, incurred by the Trustee or by any Successor Servicer (including the Backup Servicer) in connection with the transfer of servicing to any Successor Servicer, which shall not exceed $50K for a servicing transfer to the Backup Servicer or 175K to any other Successor Servicer

$ —     

First day of collection period

  June 6, 2014   

Aggregate Outstanding Pool Balance as of beginning of Collection Period

$ 119,179,707   

Applicable Servicing Fee %

  2.00

Number of Days to calculate

  0.08   
    

 

 

 

Total Servicing Fee

$ 198,633   

(3) Accrued interest due on the Notes, which is the sum of (i) the aggregate amount of interest due and accrued for the related Interest Period on the Notes; and (ii) the excess, if any, of the amount of interest remaining due and payable on the Notes on prior Payment Dates over the amounts in respect of interest actually paid on the Notes on such Payment Dates, plus interest on any such shortfall at the interest rate for the Notes

Outstanding Balance of Notes After Last Payment Date

$ 46,547,289   

Applicable Rate

  3.32
  

 

 

   

Interest due and accrued for related interest period

$ 128,781   

Interest unpaid and due from prior payment date

$ —     

Plus interest on interest unpaid and due from prior payment date

$ —     

Total Accrued Interest Due

$ 128,781   

(4) Principal on the Notes in the amounts required under “Principal Collections” below, but only to the extent not paid in full from Principal Collections

Outstanding Balance of Notes After Last Payment Date

$ 46,547,289   

Target Principal Amortization

$ 11,099,622   

Principal Payments Received from Principal Collections

$ (11,099,622

Principal Payments Received from Reserve Account

$ —     

Principal Payments Received from Interest Collections

$ —      $ —     
    

 

 

 

Note Balance after Principal Payment

$ 35,447,667   

(5) Pay each of the Trustee, the Owner Trustee, the Backup Servicer, any Successor Servicer, the Custodian and the Lockbox Bank, pro rata, any fees and expenses then due to such party that are in excess of the related cap or annual limitation

$ —     

(6) Pay all remaining amounts to the Certificateholder

  709,700   

Principal and Other Obligor Payment Collections

$ 16,699,939   

(1) Pay the amounts under “Interest Collections”, but only to the extent not paid in full from Interest Collections

$ —     

(2) (A) for so long as no Rapid Amortization Event has occurred, to pay principal on the Notes in an amount equal to the excess, if any, of the outstanding principal amount of the Notes over the Borrowing Base and (B) following the occurrence of any Rapid Amortization Event, to pay outstanding principal on the Notes until the outstanding principal balance of the Notes is reduced to zero

$ 11,099,622   

(3) Pay the remaining outstanding principal balance of the Notes on the Legal Final Payment Date

$ —     

(4) The amount on deposit in the Reserve Account is more than the Reserve Account Required Balance, to the Certificateholder, the balance in the Reserve Account that is in excess of 7.5% of the Aggregate Outstanding Principal Balance of the Notes after taking into account paydowns on the Notes made on the applicable Payment Date

$ 832,472   

(5) Pay the amounts referred to in clause (5) under “Interest Collections” above, but only to the extent not paid in full from Interest Collections;

$ —     

(6) Pay all remaining amounts to the Certificateholder

$ 6,432,788   

 

Hercules Capital Funding Trust 2012-1
Monthly Servicing Report for the Collection Period Ending July 7, 2014 Page 3 of 8


Borrowing Base and Required Note Payments

As of:

   July 7, 2014   

 

First Day of Collection Period    June 6, 2014   
Last Day of Collection Period    July 7, 2014   
Payment Date    July 15, 2014   

 

Borrowing Base

             
  

Adjusted Pool Balance

          
    

Pool Balance

         $ 99,370,881   
    

Total Excess Concentration Amount

         $ (42,197,225
    

Outstanding Balance of all Delinquent Loans

         $ —     
    

Outstanding Balance of all Restructured Loans

         $ —     
             

 

 

 
Total Adjusted Pool Balance $ 57,173,657   
Advance Rate   62.0
             

 

 

 
$ 35,447,667   
             

 

 

 

Borrowing Base

Beginning Outstanding Note Balance

$ 46,547,289   

Rapid Amortization

$ —     
             

 

 

 

Required Payment on Notes

$ 11,099,622   

Rapid Amortization Event

Restructured Loan

Loan that has been, or in accordance with the Credit Monitoring Guidelines is required to be, modified or restructured to extend the maturity thereof or reduce the amount (other than by reason of the repayment thereof) or extend the time for payment of principal thereof, in each case as a result of the Obligor’s material financial underperformance, distress or default. Such Loan shall cease to be a Restructured Loan when such Loan has been performing for at least six consecutive months since the date the most recent modification was made and is no longer required to be so modified or restructured in accordance with the Credit Monitoring Guidelines.

 

Reporting Date

   Obligor Name    Modification Date    Loan Balance    Total Restructured Amt
in last 6 months
           
           
           

 

Delinquent Loan

              
   Loan which is more than forty-five (45) days delinquent in payment; provided, however, that any Loan that has been substituted and replaced by the Issuer with a Substitute Loan pursuant to Section 2.04 and Section 2.06 will not be deemed to be a Delinquent Loan.   

 

     Days of Delinquency         
     31 to 59      60 to 89      90+      Total  

N/A

   $ —         $ —         $ —         $ —     

Total

   $ —         $ —         $ —         $ —     

 

Defaulted Loan

              
   Loan in the Collateral as to which the earliest of the following has occurred: (i) any payment, or any part of any payment in excess of 90%, due under such Loan (taking into account any waivers or modifications granted by the Servicer on such Loan) has become 120 days or more delinquent, whether or not the Servicer has foreclosed upon the related Collateral or if the related obligor is insolvent or has declared bankruptcy and the Loan is more than 180 days delinquent; (ii) the Servicer has foreclosed upon and sold the related collateral; (iii) 90 days has elapsed since the related Collateral was foreclosed upon by the Servicer; or (iv) the Servicer has determined in accordance with its customary practices that the Loan is uncollectible or the final recoverable amounts have been received.   

 

Reporting Date

   Obligor Name    Defaulted Date    Loan Balance    Days of Default

N/A

           

 

Aggregate Outstanding Principal Balance of the Notes exceeds the Borrowing Base for a period of three (3) consecutive calendar months   

 

Date

   Ending
Outstanding
Note
Balances
   Borrowing Base    Balance >
Borrowing
Base
    

N/A

           

 

Loans in the Collateral consist of Loans to 10 or fewer Obligors         

 

     Obligor Count    Count >
10
    

N/A

        

 

An Event of Default         

 

N/A

        

 

Hercules Capital Funding Trust 2012-1   
Monthly Servicing Report for the Collection Period Ending July 7, 2014    Page 4 of 8


Pool Balance, Note and General Reserve Schedules

 

Pool Balance

   

Note Balances

 

Ending

Collection

Period Date

  Beginning
Pool Balance
    Ending Pool
Balance
   

Payment

Date

  Beginning
Balance
    Principal
Payment
    Ending
Balance
    Note
Factor
    Note
Interest
Paid
    Cumulative
Interest
Paid
 

January 4, 2013

  $ 230,681,409      $ 224,940,814      January 16, 2013     129,300,000        5,781,416        123,518,584        0.9553        321,957        321,957   

February 4, 2013

  $ 224,940,814      $ 222,584,218      February 19, 2013     123,518,584        1,576,420        121,942,164        0.9431        375,908        697,865   

March 4, 2013

  $ 222,584,218      $ 219,853,292      March 18, 2013     121,942,164        1,890,769        120,051,395        0.9285        337,373        1,035,239   

April 4, 2013

  $ 219,853,292      $ 213,275,244      April 16, 2013     120,051,395        5,375,752        114,675,643        0.8869        332,142        1,367,381   

May 4, 2013

  $ 213,275,244      $ 210,005,171      May 16, 2013     114,675,643        2,133,032        112,542,610        0.8704        317,269        1,684,650   

June 4, 2013

  $ 210,005,171      $ 206,578,601      June 17, 2013     112,542,610        2,273,025        110,269,586        0.8528        311,368        1,996,018   

July 3, 2013

  $ 206,578,601      $ 202,809,422      July 16, 2013     110,269,586        2,564,881        107,704,704        0.8330        305,079        2,301,097   

August 2, 2013

  $ 202,809,422      $ 199,038,413      August 16, 2013     107,704,704        2,566,154        105,138,550        0.8131        297,983        2,599,080   

September 3, 2013

  $ 199,038,413      $ 194,941,027      September 16, 2013     105,138,550        2,664,395        102,474,155        0.7925        290,883        2,889,963   

October 4, 2013

  $ 194,941,027      $ 185,845,674      October 16, 2013     102,474,155        7,022,406        95,451,748        0.7382        283,059        3,173,022   

November 4, 2013

  $ 185,845,674      $ 181,441,387      November 18, 2013     95,451,748        2,986,838        92,464,911        0.7151        264,083        3,437,106   

December 4, 2013

  $ 181,441,387      $ 177,158,512      December 16, 2013     92,464,911        2,907,939        89,556,972        0.6926        255,820        3,692,925   

January 4, 2014

  $ 177,158,512      $ 161,607,770      January 16, 2014     89,556,972        12,687,162        76,869,810        0.5945        247,774        3,940,699   

February 4, 2014

  $ 161,607,770      $ 158,426,727      February 17, 2014     76,869,810        2,208,438        74,661,372        0.5774        212,673        4,153,373   

March 4, 2014

  $ 158,426,727      $ 141,710,903      March 17, 2014     74,661,372        10,879,422        63,781,949        0.4933        206,563        4,359,936   

April 4, 2014

  $ 141,710,903      $ 120,509,617      April 15, 2014     63,781,949        14,286,693        49,495,256        0.3828        176,463        4,536,399   

May 5, 2014

  $ 120,509,617      $ 118,022,900      May 15, 2014     49,495,256        1,444,243        48,051,013        0.3716        136,937        4,673,336   

June 5, 2014

  $ 118,022,900      $ 115,340,195      June 16, 2014     48,051,013        1,503,724        46,547,289        0.3600        128,781        4,802,117   

July 7, 2014

  $ 115,340,195      $ 99,370,881      July 15, 2014     46,547,289        11,099,622        35,447,667        0.2742        128,781        4,930,898   

 

General Reserve Account

 

Payment Date

  Beginning
Balance
    Plus: Required
Deposits
    Plus:
Interest
    Less: Excess over
General Reserve
Account Required
Balance
    Less:
Withdrawal
for Insufficient
Funds for
Required
Payments
    Less:
Withdrawal due
to Event of
Default
    Ending Balance     Reserve Balance
as a % of the
Outstanding
Principal Balance
of the Notes
 

January 16, 2013

  $ —        $ —        $ —        $ —        $ —        $ —        $ —          0.00

February 19, 2013

  $ —        $ 390,088      $ —        $ —        $ —        $ —        $ 390,088        0.32

March 16, 2013

  $ 390,088      $ 420,079      $ —        $ —        $ —        $ —        $ 810,167        0.66

April 16, 2013

  $ 810,167      $ —        $ —        $ —        $ 243,520      $ —        $ 566,646        0.47

May 16, 2013

  $ 566,646      $ 568,520      $ —        $ —        $ —        $ —        $ 1,135,167        0.99

June 17, 2013

  $ 1,135,167      $ 522,647      $ —        $ —        $ —        $ —        $ 1,657,814        1.47

July 16, 2013

  $ 1,657,814      $ 602,149      $ —        $ —        $ —        $ —        $ 2,259,963        2.05

August 16, 2013

  $ 2,259,963      $ 602,427      $ —        $ —        $ —        $ —        $ 2,862,390        2.66

September 16, 2013

  $ 2,862,390      $ 769,496      $ —        $ —        $ —        $ —        $ 3,631,886        3.45

October 16, 2013

  $ 3,631,886      $ 1,036,473      $ —        $ —        $ —        $ —        $ 4,668,359        4.56

November 18, 2013

  $ 4,668,359      $ 875,391      $ —        $ —        $ —        $ —        $ 5,543,750        5.81

December 16, 2013

  $ 5,543,750      $ 727,468      $ —        $ —        $ —        $ —        $ 6,271,218        6.78

January 16, 2014

  $ 6,271,218      $ —        $ —        $ 505,982      $ —        $ —        $ 5,765,236        7.50

February 17, 2014

  $ 5,765,236      $ —        $ —        $ 165,633      $ —        $ —        $ 5,599,603        7.50

March 17, 2014

  $ 5,599,603      $ —        $ —        $ 815,957      $ —        $ —        $ 4,783,646        7.50

April 15, 2014

  $ 4,783,646      $ —        $ —        $ 1,071,502      $ —        $ —        $ 3,712,144        7.50

May 15, 2014

  $ 3,712,144      $ —        $ —        $ 108,318      $ —        $ —        $ 3,603,826        7.50

June 16, 2014

  $ 3,603,826      $ —        $ —        $ 112,779      $ —        $ —        $ 3,491,047        7.50

July 15, 2014

  $ 3,491,047      $ —        $ —        $ 832,472      $ —        $ —        $ 2,658,575        7.50

 

Hercules Capital Funding Trust 2012-1   
Monthly Servicing Report for the Collection Period Ending July 7, 2014    Page 5 of 8


Pool Balance (by Obligor) Concentration

 

Obligor Count

  15   

 

Loan Status

   Loan Balance      % of
Loan Balance
 

Current

   $ 99,370,881         100

Restructured

   $ —           0

Defaulted

   $ —           0

Delinquent

   $ —           0
  

 

 

    

 

 

 

TOTAL

$ 99,370,881      100
  

 

 

    

 

 

 

 

Concentration Limits percentage of Loan Balance

  5   23   44

Concentration Limits in Dollars

$ 4,968,544    $ 22,855,303    $ 43,723,188   
     Single Obligor     Top Five     Top Ten  

Excess Concentration

      

OBLIGOR #25

   $ (5,746,218    

OBLIGOR #18

   $ (5,366,206    

OBLIGOR #26

   $ (5,031,456    

OBLIGOR #13

   $ (5,031,456    

OBLIGOR #23

   $ (3,835,988   $ (26,998,742  

OBLIGOR #28

   $ (3,702,476    

OBLIGOR #16

   $ (3,026,804    

OBLIGOR #20

   $ (1,950,568    

OBLIGOR #5

   $ (1,380,428     $ (42,197,225

OBLIGOR #17

   $ (1,163,371    
  

 

 

   

 

 

   

 

 

 

Total

$ (36,234,972 $ (26,998,742 $ (42,197,225
  

 

 

   

 

 

   

 

 

 

 

Total Excess Concentration Amount

$ (42,197,225

Adjusted Pool Balance

$ 57,173,657   

 

Hercules Capital Funding Trust 2012-1
Monthly Servicing Report for the Collection Period Ending July 7, 2014 Page 6 of 8


Pool Balance and Note Schedules

 

Pool Balance

 

Ending Collection

Period Date

  Beginning Principal     Principal Collections*     Adjustment For
Substitution
    Other Collections     Ending Balance     Collateral Interest
Received
    Other
Collections
    Total Collections  

December 19, 2012

  $ 230,681,409      $ —        $ —          $ 230,681,409      $ —        $ —        $ —     

January 4, 2013

  $ 230,681,409      $ 5,740,595      $ —          $ 224,940,814      $ 2,084,457      $ —        $ 7,825,052   

February 4, 2013

  $ 224,940,814      $ 2,356,596      $ —          $ 222,584,218      $ 1,981,727      $ —        $ 4,338,323   

March 4, 2013

  $ 222,584,218      $ 2,730,927      $ —          $ 219,853,292      $ 1,770,085      $ —        $ 4,501,012   

April 4, 2013

  $ 219,853,292      $ 3,900,558      $ 2,677,489        $ 213,275,244      $ 1,935,178      $ 18,050      $ 5,853,787   

May 4, 2013

  $ 213,275,244      $ 3,270,073      $ —          $ 210,005,171      $ 1,846,576      $ —        $ 5,116,649   

June 4, 2013

  $ 210,005,171      $ 3,318,319      $ 108,251        $ 206,578,601      $ 1,977,416      $ —        $ 5,295,735   

July 3, 2013

  $ 206,578,601      $ 3,769,179      $ —          $ 202,809,422      $ 1,781,618      $ —        $ 5,550,798   

August 2, 2013

  $ 202,809,422      $ 3,771,009      $ —          $ 199,038,413      $ 1,805,042      $ —        $ 5,576,051   

September 3, 2013

  $ 199,038,413      $ 4,097,386      $ —        $ 106,000      $ 194,941,027      $ 1,784,734      $ —        $ 5,988,120   

October 4, 2013

  $ 194,941,027      $ 9,095,353      $ —          $ 185,845,674      $ 1,608,996      $ —        $ 10,704,349   

November 4, 2013

  $ 185,845,674      $ 4,099,288      $ 305,000      $ 333,333      $ 181,441,387      $ 1,634,167      $ —        $ 6,371,788   

December 4, 2013

  $ 181,441,387      $ 4,282,874      $ —        $ 80,000      $ 177,158,512      $ 1,573,172      $ —        $ 5,936,046   

January 4, 2014

  $ 177,158,512      $ 15,550,742      $ —        $ 12,383      $ 161,607,770      $ 1,555,000      $ —        $ 17,118,125   

February 4, 2014

  $ 161,607,770      $ 3,181,044      $ —        $ 650,659      $ 158,426,727      $ 1,374,048      $ —        $ 5,205,750   

March 4, 2014

  $ 158,426,727      $ 16,715,823      $ —        $ 661,525      $ 141,710,903      $ 1,360,269      $ —        $ 18,737,617   

April 4, 2014

  $ 141,710,903      $ 21,201,286      $ —        $ 3,184,388      $ 120,509,617      $ 1,343,993      $ —        $ 25,729,667   

May 5, 2014

  $ 120,509,617      $ 2,486,716      $ —        $ —        $ 118,022,900      $ 1,115,998      $ —        $ 3,602,715   

June 5, 2014

  $ 118,022,900      $ 2,682,705      $ —        $ 50,000      $ 115,340,195      $ 1,106,807      $ —        $ 3,839,512   

July 7, 2014

  $ 115,340,195      $ 15,969,314      $ —        $ 730,625      $ 99,370,881      $ 1,041,611      $ —        $ 17,741,550   

 

Note Balance - Class A Notes

 

Payment Date

   Beginning Principal      Principal Paydown        Ending Balance      Note Factor  

December 19, 2012

   $ 129,300,000            $ 129,300,000         1.000000   

January 16, 2013

   $ 129,300,000       $ 5,781,416         $ 123,518,584         0.955287   

February 19, 2013

   $ 123,518,584       $ 1,576,420         $ 121,942,164         0.943095   

March 18, 2013

   $ 121,942,164       $ 1,890,769         $ 120,051,395         0.928472   

April 16, 2013

   $ 120,051,395       $ 5,375,752         $ 114,675,643         0.886896   

May 16, 2013

   $ 114,675,643       $ 2,133,032         $ 112,542,610         0.870399   

June 17, 2013

   $ 112,542,610       $ 2,273,025         $ 110,269,586         0.852820   

July 16, 2013

   $ 110,269,586       $ 2,564,881         $ 107,704,704         0.832983   

August 16, 2013

   $ 107,704,704       $ 2,566,154         $ 105,138,550         0.813137   

September 16, 2013

   $ 105,138,550       $ 2,664,395         $ 102,474,155         0.792530   

October 16, 2013

   $ 102,474,155       $ 7,022,406         $ 95,451,748         0.738219   

November 18, 2013

   $ 95,451,748       $ 2,986,838         $ 92,464,911         0.715119   

December 16, 2013

   $ 92,464,911       $ 2,907,939         $ 89,556,972         0.692629   

January 16, 2014

   $ 89,556,972       $ 12,687,162         $ 76,869,810         0.594507   

February 17, 2014

   $ 76,869,810       $ 2,208,438         $ 74,661,372         0.577427   

March 17, 2014

   $ 74,661,372       $ 10,879,422         $ 63,781,949         0.493287   

April 15, 2014

   $ 63,781,949       $ 14,286,693         $ 49,495,256         0.382794   

May 15, 2014

   $ 49,495,256       $ 1,444,243         $ 48,051,013         0.371624   

June 16, 2014

   $ 48,051,013       $ 1,503,724         $ 46,547,289         0.359995   

July 15, 2014

   $ 46,547,289       $ 11,099,622         $ 35,447,667         0.274151   

 

* Principal Collections can potentially include fees and other payments

 

Hercules Capital Funding Trust 2012-1   
Monthly Servicing Report for the Collection Period Ending July 7, 2014    Page 7 of 8


Pool Balance - End of Period

 

OBLIGOR NAME Dec-12   Jan-13   Feb-13   Mar-13   Apr-13   May-13   Jun-13   Jul-13   Aug-13   Sep-13   Oct-13   Nov-13   Dec-13   Jan-14   Feb-14   Mar-14   Apr-14   May-14   Jun-14   Jul-14  
OBLIGOR #1 $ 8,172,429    $ 7,861,069    $ 7,547,429    $ 7,226,148    $ 6,907,861    $ 6,585,614    $ 6,262,639    $ 5,935,821    $ 5,608,090    $ 5,277,960    $ 4,944,167    $ 4,609,177    $ 4,270,648    $ —      $ —      $ —      $ —      $ —      $ —      $ —     
OBLIGOR #2 $ 5,052,335    $ 4,572,047    $ 4,087,313    $ 3,594,431    $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —     
OBLIGOR #3 $ 9,230,769    $ 8,846,154    $ 8,461,538    $ 8,076,923    $ 7,692,308    $ 7,307,692    $ 6,923,077    $ 6,538,462    $ 6,153,846    $ 5,769,231    $ 5,384,615    $ 5,000,000    $ 4,615,385    $ 4,230,769    $ 3,846,154    $ 3,461,539    $ 3,076,923    $ 2,692,308    $ 2,307,692    $ 1,923,077   
OBLIGOR #4 $ 11,292,550    $ 10,871,709    $ 10,447,046    $ 10,009,339    $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —     
OBLIGOR #5 $ 12,555,645    $ 12,555,645    $ 12,555,645    $ 12,555,645    $ 12,198,390    $ 11,833,442    $ 11,468,786    $ 11,096,603    $ 10,724,397    $ 10,348,377    $ 9,965,083    $ 9,581,282    $ 9,190,380    $ 8,798,641    $ 8,402,887    $ 7,994,745    $ 7,590,753    $ 7,180,113    $ 6,767,774    $ 6,348,972   
OBLIGOR #6 $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —     
OBLIGOR #7 $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ —     
OBLIGOR #8 $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 14,553,670    $ 14,107,639    $ 13,654,431    $ 13,201,238    $ 13,201,238    $ —      $ —      $ —      $ —      $ —     
OBLIGOR #9 $ 3,822,324    $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —     
OBLIGOR #10 $ 1,000,000    $ 1,000,000    $ 1,000,000    $ 966,343    $ 933,243    $ 899,586    $ 865,897    $ 831,664    $ 797,375    $ 762,784    $ 727,670    $ 692,464    $ 656,749    $ 620,917    $ 584,768    $ 547,801    $ 511,007    $ 473,743    $ 436,295    $ 398,393   
OBLIGOR #11 $ 3,758,211    $ 3,563,606    $ 3,367,447    $ 3,167,242    $ 2,968,011    $ 2,766,494    $ 2,564,157    $ 2,359,611    $ 2,154,121    $ 1,947,038    $ 1,737,864    $ 1,527,555    $ 1,315,235    $ 1,101,651    $ 886,411    $ 668,839    $ 450,245    $ 229,845    $ —      $ —     
OBLIGOR #12 $ 8,000,000    $ 8,000,000    $ 8,000,000    $ 8,000,000    $ 7,703,704    $ 7,407,407    $ 7,111,111    $ 6,814,815    $ 6,518,519    $ 6,222,222    $ 5,925,926    $ 5,629,630    $ 5,333,333    $ 5,037,037    $ 4,740,741    $ 4,444,444    $ 4,148,148    $ 3,851,852    $ 3,555,556    $ 3,259,259   
OBLIGOR #13 $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000   
OBLIGOR #14 $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 14,567,912    $ 14,131,732    $ 13,678,466    $ —      $ —      $ —      $ —     
OBLIGOR #15 $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 4,880,240    $ 4,760,835    $ 4,640,408    $ 4,517,666    $ 4,395,155    $ 4,270,380    $ 4,145,750    $ 4,020,052    $ 3,889,944    $ 3,762,055    $ 3,632,030    $ 3,501,931    $ 3,369,749   
OBLIGOR #16 $ 15,000,000    $ 15,000,000    $ 14,573,778    $ 14,128,579    $ 13,693,352    $ 13,249,064    $ 12,804,749    $ 12,351,575    $ 11,897,986    $ 11,439,710    $ 10,972,886    $ 10,505,051    $ 10,028,879    $ 9,551,290    $ 9,068,764    $ 8,572,185    $ 8,572,185    $ 8,396,046    $ 8,198,086    $ 7,995,348   
OBLIGOR #17 $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 9,711,183    $ 9,428,358    $ 9,140,353    $ 8,852,490    $ 8,559,565    $ 8,266,576    $ 7,971,001    $ 7,670,547    $ 7,369,711    $ 7,064,121    $ 6,757,933    $ 6,449,041    $ 6,131,915    $ 6,131,915    $ 6,131,915    $ 6,131,915    $ 6,131,915   
OBLIGOR #18 $ 13,749,133    $ 13,749,133    $ 13,749,133    $ 13,749,133    $ 11,749,133    $ 11,389,840    $ 11,030,718    $ 10,665,363    $ 10,299,863    $ 9,931,335    $ 9,556,937    $ 9,249,519    $ 8,801,783    $ 8,420,762    $ 8,420,762    $ 8,420,762    $ 8,420,762    $ 8,420,762    $ 8,420,762    $ 8,420,762   
OBLIGOR #18 $ 2,000,000    $ 2,000,000    $ 2,000,000    $ 2,000,000    $ 2,000,000    $ 2,000,000    $ 2,000,000    $ 2,000,000    $ 2,000,000    $ 1,913,989    $ 1,913,989    $ 1,913,989    $ 1,913,989    $ 1,913,989    $ 1,913,989    $ 1,913,989   
OBLIGOR #19 $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 9,711,251    $ 9,422,842    $ 9,131,539    $ 4,031,539    $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —     
OBLIGOR #20 $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,086,741    $ 6,919,112   
OBLIGOR #21 $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 4,845,939    $ 4,690,274    $ 4,534,612    $ 4,377,391    $ 4,220,113    $ 4,062,022    $ 3,902,438    $ 3,742,706    $ 3,581,525    $ —      $ —      $ —      $ —      $ —      $ —      $ —     
OBLIGOR #21 $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 4,851,509    $ 4,700,720    $ 4,549,975    $ 4,396,987    $ 4,243,953    $ 4,089,765    $ 3,933,422    $ 3,776,895    $ 3,618,270    $ —      $ —      $ —      $ —      $ —      $ —      $ —     
OBLIGOR #22 $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 5,833,332    $ 5,666,665    $ 5,499,997    $ 5,333,329    $ 5,166,662    $ 4,999,994    $ 4,833,326    $ 4,666,659    $ 4,499,991   
OBLIGOR #23 $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 9,706,012    $ 9,407,058    $ 9,108,219    $ 8,804,532   
OBLIGOR #24 $ 8,283,251    $ 8,156,689    $ 8,030,126    $ 7,903,564    $ 7,777,001    $ 7,608,251    $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —     
OBLIGOR #25 $ 8,000,000    $ 8,000,000    $ 8,000,000    $ 8,000,000    $ 8,000,000    $ 7,900,000    $ 7,800,000    $ 7,700,000    $ 7,600,000    $ 7,200,000    $ 7,100,000    $ 7,000,000    $ 6,900,000    $ 6,800,000    $ 6,700,000    $ 6,600,000    $ 6,500,000    $ 6,400,000    $ 6,300,000    $ 6,200,000   
OBLIGOR #25 $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762   
OBLIGOR #26 $ —      $ —      $ —      $ —      $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000   
OBLIGOR #27 $ —      $ —      $ —      $ —      $ —      $ —      $ 7,283,956    $ 7,063,640    $ 6,843,463    $ 6,621,201    $ 6,394,809    $ 6,168,297    $ 5,937,754    $ 5,706,912    $ 5,473,884    $ 5,233,631    $ —      $ —      $ —      $ —     
OBLIGOR #28 $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 9,733,008    $ 9,472,654    $ 9,206,940    $ 8,941,603    $ 8,671,020   
OBLIGOR #29 $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ 3,726,539    $ 3,726,539    $ 3,726,539    $ 3,726,539    $ 3,726,539    $ 3,726,539    $ 3,726,539    $ 3,726,539    $ —     
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 
TOTAL $ 230,681,409    $ 224,940,814    $ 222,584,218    $ 219,853,292    $ 213,275,244    $  210,005,171    $ 206,578,601    $ 202,809,422    $ 199,038,413    $ 194,941,027    $ 185,845,674    $ 181,441,387    $ 177,158,512    $ 161,607,770    $ 158,426,727    $ 141,710,903    $ 120,509,617    $ 118,022,900    $ 115,340,195    $ 99,370,881   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

Hercules Capital Funding Trust 2012-1
Monthly Servicing Report for the Collection Period Ending July 7, 2014 Page 8 of 8


 

LOGO

Monthly Servicer Report

On Behalf of Hercules Capital Funding Trust 2012-1

Prepared: For the collection period ending August 5, 2014

 

Hercules Capital Funding Trust 2012-1
Monthly Servicing Report for the Collection Period Ending August 5, 2014 Page 1 of 9


Monthly Servicer Report

On Behalf of Hercules Capital Funding Trust 2012-1

 

First Day of Collection Period

July 8, 2014

Last Day of Collection Period

August 5, 2014

Payment Date

August 15, 2014

 

Available Funds

On each Payment Date, payments on the Notes will be made from the following sources (collectively, “Available Funds”):

  

Obligor payments

Interest Received

$ 835,575   

Principal Received

$ 10,782,732   

Other Obligor Payments

$ 286,710   
  

 

 

 

Obligor payments received with respect to the Loans during the preceding Collection Period;

$ 11,905,018   

Liquidation proceeds received with respect to the Loans during the preceding Collection Period;

$ —     

Interest earned on funds on deposit in the Collection Account, the Interest Reserve Account and the Expense Reserve Account;

Proceeds from any optional sale of Loans;

$ —     

Payments made by the Seller, the Depositor or the Servicer in connection with the required repurchase or purchase of Loans; and

$ —     

Scheduled Payment Advances

$ —     
  

 

 

 

Total Available Funds

$ 11,905,018   
  

 

 

 

 

Hercules Capital Funding Trust 2012-1
Monthly Servicing Report for the Collection Period Ending August 5, 2014 Page 2 of 9


Waterfall Calculations

 

Interest Collections

$ 835,575   

(1) Trustee, the Owner Trustee, the Backup Servicer, the Custodian and the Lockbox Bank, pro rata, any accrued and unpaid fees, expenses and indemnities then due to each of them with rolling twelve-month limit of $500K

US Bank Trustee - Annual Administrative Fee

$ 2,083   

US Bank Back Up Servicer - Annual Administrative Fee

$ 2,000   

US Bank Custodian - Monthly Fees

$ 150   

US Bank Lockbox Fees

$ 288   
    

 

 

 

Total due to Trustee/Owner Trustee/Backup Servicer/Custodian/Lockbox Bank fees/Rating Agency

$ 4,521   

The Servicing Fee shall be equal to the sum of the product of: (i) one-twelfth of 2.00% (or, with respect to the first Collection Period, a fraction equal to the number of days from and including the Cutoff Date through and including January 15, 2013 over 360) and (ii) the Aggregate Outstanding Pool Balance as of the beginning of the related Collection Period.

    

(2) Servicer or any Successor Servicer, any previously unreimbursed Scheduled Payment Advances, Servicing Advances, the Servicing Fee for the related calendar month, any supplemental servicing fees for the related calendar month, any reimbursements for mistaken deposits and other related amounts and certain other amounts due on the Loans that the Servicer is entitled to retain; to the Seller, amounts deposited into the Lockbox Account but not related to interest, principal or extension fees due on the Loans; a one-time servicer engagement fee to the Backup Servicer (upon becoming Successor Servicer) of $125K; and costs and expenses, if any, incurred by the Trustee or by any Successor Servicer (including the Backup Servicer) in connection with the transfer of servicing to any Successor Servicer, which shall not exceed $50K for a servicing transfer to the Backup Servicer or 175K to any other Successor Servicer

$ —     

First day of collection period

  July 8, 2014   

Aggregate Outstanding Pool Balance as of beginning of Collection Period

$ 117,112,431   

Applicable Servicing Fee %

  2.00

Number of Days to calculate

  0.08   
    

 

 

 

Total Servicing Fee

$ 195,187   

(3) Accrued interest due on the Notes, which is the sum of (i) the aggregate amount of interest due and accrued for the related Interest Period on the Notes; and (ii) the excess, if any, of the amount of interest remaining due and payable on the Notes on prior Payment Dates over the amounts in respect of interest actually paid on the Notes on such Payment Dates, plus interest on any such shortfall at the interest rate for the Notes

Outstanding Balance of Notes After Last Payment Date

$ 35,447,667   

Applicable Rate

  3.32
  

 

 

   

Interest due and accrued for related interest period

$ 98,072   

Interest unpaid and due from prior payment date

$ —     

Plus interest on interest unpaid and due from prior payment date

$ —     

Total Accrued Interest Due

$ 98,072   

(4) Principal on the Notes in the amounts required under “Principal Collections” below, but only to the extent not paid in full from Principal Collections

Outstanding Balance of Notes After Last Payment Date

$ 35,447,667   

Target Principal Amortization

$ 6,259,374   

Principal Payments Received from Principal Collections

$ (6,259,374

Principal Payments Received from Reserve Account

$ —     

Principal Payments Received from Interest Collections

$ —      $ —     
    

 

 

 

Note Balance after Principal Payment

$ 29,188,294   

(5) Pay each of the Trustee, the Owner Trustee, the Backup Servicer, any Successor Servicer, the Custodian and the Lockbox Bank, pro rata, any fees and expenses then due to such party that are in excess of the related cap or annual limitation

$ —     

(6) Pay all remaining amounts to the Certificateholder

  537,795   

Principal and Other Obligor Payment Collections

$ 11,069,442   

(1) Pay the amounts under “Interest Collections”, but only to the extent not paid in full from Interest Collections

$ —     

(2) (A) for so long as no Rapid Amortization Event has occurred, to pay principal on the Notes in an amount equal to the excess, if any, of the outstanding principal amount of the Notes over the Borrowing Base and (B) following the occurrence of any Rapid Amortization Event, to pay outstanding principal on the Notes until the outstanding principal balance of the Notes is reduced to zero

$ 6,259,374   

(3) Pay the remaining outstanding principal balance of the Notes on the Legal Final Payment Date

$ —     

(4) The amount on deposit in the Reserve Account is more than the Reserve Account Required Balance, to the Certificateholder, the balance in the Reserve Account that is in excess of 7.5% of the Aggregate Outstanding Principal Balance of the Notes after taking into account paydowns on the Notes made on the applicable Payment Date

$ 469,453   

(5) Pay the amounts referred to in clause (5) under “Interest Collections” above, but only to the extent not paid in full from Interest Collections;

$ —     

(6) Pay all remaining amounts to the Certificateholder

$ 5,279,522   

 

Hercules Capital Funding Trust 2012-1
Monthly Servicing Report for the Collection Period Ending August 5, 2014 Page 3 of 9


Borrowing Base and Required Note Payments

As of:

   August 5, 2014   

 

First Day of Collection Period

   July 8, 2014   

Last Day of Collection Period

   August 5, 2014   

Payment Date

   August 15, 2014   

 

Borrowing Base

             
  

Adjusted Pool Balance

          
    

Pool Balance

         $ 88,588,149   
    

Total Excess Concentration Amount

         $ (41,510,256
    

Outstanding Balance of all Delinquent Loans

         $ —     
    

Outstanding Balance of all Restructured Loans

         $ —     
             

 

 

 
Total Adjusted Pool Balance $ 47,077,893   

Advance Rate

  62.0
             

 

 

 
$ 29,188,294   
             

 

 

 

Borrowing Base

Beginning Outstanding Note Balance

$ 35,447,667   

Rapid Amortization

$ —     
             

 

 

 

Required Payment on Notes

$ 6,259,374   

Rapid Amortization Event

Restructured Loan

Loan that has been, or in accordance with the Credit Monitoring Guidelines is required to be, modified or restructured to extend the maturity thereof or reduce the amount (other than by reason of the repayment thereof) or extend the time for payment of principal thereof, in each case as a result of the Obligor’s material financial underperformance, distress or default. Such Loan shall cease to be a Restructured Loan when such Loan has been performing for at least six consecutive months since the date the most recent modification was made and is no longer required to be so modified or restructured in accordance with the Credit Monitoring Guidelines.

 

Reporting Date

   Obligor Name    Modification Date    Loan Balance    Total Restructured Amt
in last 6 months
           
           
           

 

Delinquent Loan

              
   Loan which is more than forty-five (45) days delinquent in payment; provided, however, that any Loan that has been substituted and replaced by the Issuer with a Substitute Loan pursuant to Section 2.04 and Section 2.06 will not be deemed to be a Delinquent Loan.   

 

     Days of Delinquency         
     31 to 59      60 to 89      90+      Total  

N/A

   $ —         $ —         $ —         $ —     

Total

   $ —         $ —         $ —         $ —     

 

Defaulted Loan

              
   Loan in the Collateral as to which the earliest of the following has occurred: (i) any payment, or any part of any payment in excess of 90%, due under such Loan (taking into account any waivers or modifications granted by the Servicer on such Loan) has become 120 days or more delinquent, whether or not the Servicer has foreclosed upon the related Collateral or if the related obligor is insolvent or has declared bankruptcy and the Loan is more than 180 days delinquent; (ii) the Servicer has foreclosed upon and sold the related collateral; (iii) 90 days has elapsed since the related Collateral was foreclosed upon by the Servicer; or (iv) the Servicer has determined in accordance with its customary practices that the Loan is uncollectible or the final recoverable amounts have been received.   

 

Reporting Date

   Obligor Name    Defaulted Date    Loan Balance    Days of Default

N/A

           

 

Aggregate Outstanding Principal Balance of the Notes exceeds the Borrowing Base for a period of three (3) consecutive calendar months

  

 

Date

   Ending
Outstanding
Note
Balances
   Borrowing
Base
   Balance > Borrowing
Base
    

N/A

              

 

Loans in the Collateral consist of Loans to 10 or fewer Obligors

              

 

     Obligor Count    Count >
10
    

N/A

        

 

An Event of Default

              

 

N/A

  

 

Hercules Capital Funding Trust 2012-1   
Monthly Servicing Report for the Collection Period Ending August 5, 2014    Page 4 of 9


Pool Balance, Note and General Reserve Schedules

 

Pool Balance

   

Note Balances

 

Ending

Collection

Period Date

  Beginning
Pool Balance
    Ending Pool
Balance
   

Payment

Date

  Beginning
Balance
    Principal
Payment
    Ending
Balance
    Note
Factor
    Note
Interest
Paid
    Cumulative
Interest
Paid
 

January 4, 2013

  $ 230,681,409      $ 224,940,814      January 16, 2013     129,300,000        5,781,416        123,518,584        0.9553        321,957        321,957   

February 4, 2013

  $ 224,940,814      $ 222,584,218      February 19, 2013     123,518,584        1,576,420        121,942,164        0.9431        375,908        697,865   

March 4, 2013

  $ 222,584,218      $ 219,853,292      March 18, 2013     121,942,164        1,890,769        120,051,395        0.9285        337,373        1,035,239   

April 4, 2013

  $ 219,853,292      $ 213,275,244      April 16, 2013     120,051,395        5,375,752        114,675,643        0.8869        332,142        1,367,381   

May 4, 2013

  $ 213,275,244      $ 210,005,171      May 16, 2013     114,675,643        2,133,032        112,542,610        0.8704        317,269        1,684,650   

June 4, 2013

  $ 210,005,171      $ 206,578,601      June 17, 2013     112,542,610        2,273,025        110,269,586        0.8528        311,368        1,996,018   

July 3, 2013

  $ 206,578,601      $ 202,809,422      July 16, 2013     110,269,586        2,564,881        107,704,704        0.8330        305,079        2,301,097   

August 2, 2013

  $ 202,809,422      $ 199,038,413      August 16, 2013     107,704,704        2,566,154        105,138,550        0.8131        297,983        2,599,080   

September 3, 2013

  $ 199,038,413      $ 194,941,027      September 16, 2013     105,138,550        2,664,395        102,474,155        0.7925        290,883        2,889,963   

October 4, 2013

  $ 194,941,027      $ 185,845,674      October 16, 2013     102,474,155        7,022,406        95,451,748        0.7382        283,059        3,173,022   

November 4, 2013

  $ 185,845,674      $ 181,441,387      November 18, 2013     95,451,748        2,986,838        92,464,911        0.7151        264,083        3,437,106   

December 4, 2013

  $ 181,441,387      $ 177,158,512      December 16, 2013     92,464,911        2,907,939        89,556,972        0.6926        255,820        3,692,925   

January 4, 2014

  $ 177,158,512      $ 161,607,770      January 16, 2014     89,556,972        12,687,162        76,869,810        0.5945        247,774        3,940,699   

February 4, 2014

  $ 161,607,770      $ 158,426,727      February 17, 2014     76,869,810        2,208,438        74,661,372        0.5774        212,673        4,153,373   

March 4, 2014

  $ 158,426,727      $ 141,710,903      March 17, 2014     74,661,372        10,879,422        63,781,949        0.4933        206,563        4,359,936   

April 4, 2014

  $ 141,710,903      $ 120,509,617      April 15, 2014     63,781,949        14,286,693        49,495,256        0.3828        176,463        4,536,399   

May 5, 2014

  $ 120,509,617      $ 118,022,900      May 15, 2014     49,495,256        1,444,243        48,051,013        0.3716        136,937        4,673,336   

June 5, 2014

  $ 118,022,900      $ 115,340,195      June 16, 2014     48,051,013        1,503,724        46,547,289        0.3600        132,941        4,806,277   

July 7, 2014

  $ 115,340,195      $ 99,370,881      July 15, 2014     46,547,289        11,099,622        35,447,667        0.2742        128,781        4,935,058   

August 5, 2014

  $ 99,370,881      $ 88,588,149      August 15, 2014     35,447,667        6,259,374        29,188,294        0.2257        98,072        5,033,130   

 

General Reserve Account

 

Payment Date

  Beginning
Balance
    Plus: Required
Deposits
    Plus:
Interest
    Less: Excess over
General Reserve
Account Required
Balance
    Less:
Withdrawal
for Insufficient
Funds for
Required
Payments
    Less:
Withdrawal due
to Event of
Default
    Ending Balance     Reserve Balance
as a % of the
Outstanding
Principal Balance
of the Notes
 

January 16, 2013

  $ —        $ —        $ —        $ —        $ —        $ —        $ —          0.00

February 19, 2013

  $ —        $ 390,088      $ —        $ —        $ —        $ —        $ 390,088        0.32

March 16, 2013

  $ 390,088      $ 420,079      $ —        $ —        $ —        $ —        $ 810,167        0.66

April 16, 2013

  $ 810,167      $ —        $ —        $ —        $ 243,520      $ —        $ 566,646        0.47

May 16, 2013

  $ 566,646      $ 568,520      $ —        $ —        $ —        $ —        $ 1,135,167        0.99

June 17, 2013

  $ 1,135,167      $ 522,647      $ —        $ —        $ —        $ —        $ 1,657,814        1.47

July 16, 2013

  $ 1,657,814      $ 602,149      $ —        $ —        $ —        $ —        $ 2,259,963        2.05

August 16, 2013

  $ 2,259,963      $ 602,427      $ —        $ —        $ —        $ —        $ 2,862,390        2.66

September 16, 2013

  $ 2,862,390      $ 769,496      $ —        $ —        $ —        $ —        $ 3,631,886        3.45

October 16, 2013

  $ 3,631,886      $ 1,036,473      $ —        $ —        $ —        $ —        $ 4,668,359        4.56

November 18, 2013

  $ 4,668,359      $ 875,391      $ —        $ —        $ —        $ —        $ 5,543,750        5.81

December 16, 2013

  $ 5,543,750      $ 727,468      $ —        $ —        $ —        $ —        $ 6,271,218        6.78

January 16, 2014

  $ 6,271,218      $ —        $ —        $ 505,982      $ —        $ —        $ 5,765,236        7.50

February 17, 2014

  $ 5,765,236      $ —        $ —        $ 165,633      $ —        $ —        $ 5,599,603        7.50

March 17, 2014

  $ 5,599,603      $ —        $ —        $ 815,957      $ —        $ —        $ 4,783,646        7.50

April 15, 2014

  $ 4,783,646      $ —        $ —        $ 1,071,502      $ —        $ —        $ 3,712,144        7.50

May 15, 2014

  $ 3,712,144      $ —        $ —        $ 108,318      $ —        $ —        $ 3,603,826        7.50

June 16, 2014

  $ 3,603,826      $ —        $ —        $ 112,779      $ —        $ —        $ 3,491,047        7.50

July 15, 2014

  $ 3,491,047      $ —        $ —        $ 832,472      $ —        $ —        $ 2,658,575        7.50

August 15, 2014

  $ 2,658,575      $ —        $ —        $ 469,453      $ —        $ —        $ 2,189,122        7.50

 

Hercules Capital Funding Trust 2012-1   
Monthly Servicing Report for the Collection Period Ending August 5, 2014    Page 5 of 9


Pool Balance (by Obligor) Concentration

 

Obligor Count

  14   

 

Loan Status

   Loan Balance      % of
Loan Balance
 

Current

   $ 88,588,149         100

Restructured

   $ —           0

Defaulted

   $ —           0

Delinquent

   $ —           0
  

 

 

    

 

 

 

TOTAL

$ 88,588,149      100
  

 

 

    

 

 

 

 

Concentration Limits percentage of Loan Balance

  5   23   44

Concentration Limits in Dollars

$ 4,429,407    $ 20,375,274    $ 38,978,786   
     Single Obligor     Top Five     Top Ten  

Excess Concentration

      

OBLIGOR #25

   $ (6,285,355    

OBLIGOR #18

   $ (5,905,343    

OBLIGOR #26

   $ (5,570,593    

OBLIGOR #13

   $ (5,570,593    

OBLIGOR #23

   $ (4,071,357   $ (29,175,003  

OBLIGOR #16

   $ (3,363,840    

OBLIGOR #20

   $ (2,322,756    

OBLIGOR #17

   $ (1,702,508    

OBLIGOR #5

   $ (1,498,708     $ (41,510,256
  

 

 

   

 

 

   

 

 

 

Total

$ (36,291,052 $ (29,175,003 $ (41,510,256
  

 

 

   

 

 

   

 

 

 

 

Total Excess Concentration Amount

$ (41,510,256

Adjusted Pool Balance

$ 47,077,893   

 

Hercules Capital Funding Trust 2012-1
Monthly Servicing Report for the Collection Period Ending August 5, 2014 Page 6 of 9


Pool Balance and Note Schedules

 

Pool Balance

 

Ending Collection

Period Date

  Beginning Principal     Principal Collections*     Adjustment For
Substitution
    Other Collections     Ending Balance     Collateral Interest
Received
    Other
Collections
    Total Collections  

December 19, 2012

  $ 230,681,409      $ —        $ —          $ 230,681,409      $ —        $ —        $ —     

January 4, 2013

  $ 230,681,409      $ 5,740,595      $ —          $ 224,940,814      $ 2,084,457      $ —        $ 7,825,052   

February 4, 2013

  $ 224,940,814      $ 2,356,596      $ —          $ 222,584,218      $ 1,981,727      $ —        $ 4,338,323   

March 4, 2013

  $ 222,584,218      $ 2,730,927      $ —          $ 219,853,292      $ 1,770,085      $ —        $ 4,501,012   

April 4, 2013

  $ 219,853,292      $ 3,900,558      $ 2,677,489        $ 213,275,244      $ 1,935,178      $ 18,050      $ 5,853,787   

May 4, 2013

  $ 213,275,244      $ 3,270,073      $ —          $ 210,005,171      $ 1,846,576      $ —        $ 5,116,649   

June 4, 2013

  $ 210,005,171      $ 3,318,319      $ 108,251        $ 206,578,601      $ 1,977,416      $ —        $ 5,295,735   

July 3, 2013

  $ 206,578,601      $ 3,769,179      $ —          $ 202,809,422      $ 1,781,618      $ —        $ 5,550,798   

August 2, 2013

  $ 202,809,422      $ 3,771,009      $ —          $ 199,038,413      $ 1,805,042      $ —        $ 5,576,051   

September 3, 2013

  $ 199,038,413      $ 4,097,386      $ —        $ 106,000      $ 194,941,027      $ 1,784,734      $ —        $ 5,988,120   

October 4, 2013

  $ 194,941,027      $ 9,095,353      $ —          $ 185,845,674      $ 1,608,996      $ —        $ 10,704,349   

November 4, 2013

  $ 185,845,674      $ 4,099,288      $ 305,000      $ 333,333      $ 181,441,387      $ 1,634,167      $ —        $ 6,371,788   

December 4, 2013

  $ 181,441,387      $ 4,282,874      $ —        $ 80,000      $ 177,158,512      $ 1,573,172      $ —        $ 5,936,046   

January 4, 2014

  $ 177,158,512      $ 15,550,742      $ —        $ 12,383      $ 161,607,770      $ 1,555,000      $ —        $ 17,118,125   

February 4, 2014

  $ 161,607,770      $ 3,181,044      $ —        $ 650,659      $ 158,426,727      $ 1,374,048      $ —        $ 5,205,750   

March 4, 2014

  $ 158,426,727      $ 16,715,823      $ —        $ 661,525      $ 141,710,903      $ 1,360,269      $ —        $ 18,737,617   

April 4, 2014

  $ 141,710,903      $ 21,201,286      $ —        $ 3,184,388      $ 120,509,617      $ 1,343,993      $ —        $ 25,729,667   

May 5, 2014

  $ 120,509,617      $ 2,486,716      $ —        $         $ 118,022,900      $ 1,115,998      $ —        $ 3,602,715   

June 5, 2014

  $ 118,022,900      $ 2,682,705      $ —        $ 50,000      $ 115,340,195      $ 1,106,807      $ —        $ 3,839,512   

July 7, 2014

  $ 115,340,195      $ 15,969,314      $ —        $ 730,625      $ 99,370,881      $ 1,041,611      $ —        $ 17,741,550   

August 5, 2014

  $ 99,370,881      $ 10,782,732      $ —        $ 286,710      $ 88,588,149      $ 835,575      $ —        $ 11,905,018   

 

Note Balance - Class A Notes

 

Payment Date

   Beginning Principal      Principal Paydown        Ending Balance      Note Factor  

December 19, 2012

   $ 129,300,000            $ 129,300,000         1.0000   

January 16, 2013

   $ 129,300,000       $ 5,781,416         $ 123,518,584         0.9553   

February 19, 2013

   $ 123,518,584       $ 1,576,420         $ 121,942,164         0.9431   

March 18, 2013

   $ 121,942,164       $ 1,890,769         $ 120,051,395         0.9285   

April 16, 2013

   $ 120,051,395       $ 5,375,752         $ 114,675,643         0.8869   

May 16, 2013

   $ 114,675,643       $ 2,133,032         $ 112,542,610         0.8704   

June 17, 2013

   $ 112,542,610       $ 2,273,025         $ 110,269,586         0.8528   

July 16, 2013

   $ 110,269,586       $ 2,564,881         $ 107,704,704         0.8330   

August 16, 2013

   $ 107,704,704       $ 2,566,154         $ 105,138,550         0.8131   

September 16, 2013

   $ 105,138,550       $ 2,664,395         $ 102,474,155         0.7925   

October 16, 2013

   $ 102,474,155       $ 7,022,406         $ 95,451,748         0.7382   

November 18, 2013

   $ 95,451,748       $ 2,986,838         $ 92,464,911         0.7151   

December 16, 2013

   $ 92,464,911       $ 2,907,939         $ 89,556,972         0.6926   

January 16, 2014

   $ 89,556,972       $ 12,687,162         $ 76,869,810         0.5945   

February 17, 2014

   $ 76,869,810       $ 2,208,438         $ 74,661,372         0.5774   

March 17, 2014

   $ 74,661,372       $ 10,879,422         $ 63,781,949         0.4933   

April 15, 2014

   $ 63,781,949       $ 14,286,693         $ 49,495,256         0.3828   

May 15, 2014

   $ 49,495,256       $ 1,444,243         $ 48,051,013         0.3716   

June 16, 2014

   $ 48,051,013       $ 1,503,724         $ 46,547,289         0.3600   

July 15, 2014

   $ 46,547,289       $ 11,099,622         $ 35,447,667         0.2742   

August 15, 2014

   $ 35,447,667       $ 6,259,374         $ 29,188,294         0.2257   

 

* Principal Collections can potentially include fees and other payments

 

Hercules Capital Funding Trust 2012-1   
Monthly Servicing Report for the Collection Period Ending August 5 2014    Page 7 of 9


Pool Balance - End of Period

 

OBLIGOR
NAME
Dec-12   Jan-13   Feb-13   Mar-13   Apr-13   May-13   Jun-13   Jul-13   Aug-13   Sep-13   Oct-13   Nov-13   Dec-13  

OBLIGOR #1

$ 8,172,429    $ 7,861,069    $ 7,547,429    $ 7,226,148    $ 6,907,861    $ 6,585,614    $ 6,262,639    $ 5,935,821    $ 5,608,090    $ 5,277,960    $ 4,944,167    $ 4,609,177    $ 4,270,648   

OBLIGOR #2

$ 5,052,335    $ 4,572,047    $ 4,087,313    $ 3,594,431    $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #3

$ 9,230,769    $ 8,846,154    $ 8,461,538    $ 8,076,923    $ 7,692,308    $ 7,307,692    $ 6,923,077    $ 6,538,462    $ 6,153,846    $ 5,769,231    $ 5,384,615    $ 5,000,000    $ 4,615,385   

OBLIGOR #4

$ 11,292,550    $ 10,871,709    $ 10,447,046    $ 10,009,339    $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #5

$ 12,555,645    $ 12,555,645    $ 12,555,645    $ 12,555,645    $ 12,198,390    $ 11,833,442    $ 11,468,786    $ 11,096,603    $ 10,724,397    $ 10,348,377    $ 9,965,083    $ 9,581,282    $ 9,190,380   

OBLIGOR #6

$ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ —      $ —      $ —     

OBLIGOR #7

$ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673   

OBLIGOR #8

$ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 14,553,670    $ 14,107,639    $ 13,654,431   

OBLIGOR #9

$ 3,822,324    $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #10

$ 1,000,000    $ 1,000,000    $ 1,000,000    $ 966,343    $ 933,243    $ 899,586    $ 865,897    $ 831,664    $ 797,375    $ 762,784    $ 727,670    $ 692,464    $ 656,749   

OBLIGOR #11

$ 3,758,211    $ 3,563,606    $ 3,367,447    $ 3,167,242    $ 2,968,011    $ 2,766,494    $ 2,564,157    $ 2,359,611    $ 2,154,121    $ 1,947,038    $ 1,737,864    $ 1,527,555    $ 1,315,235   

OBLIGOR #12

$ 8,000,000    $ 8,000,000    $ 8,000,000    $ 8,000,000    $ 7,703,704    $ 7,407,407    $ 7,111,111    $ 6,814,815    $ 6,518,519    $ 6,222,222    $ 5,925,926    $ 5,629,630    $ 5,333,333   

OBLIGOR #13

$ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000   

OBLIGOR #14

$ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000   

OBLIGOR #15

$ 5,000,000    $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 4,880,240    $ 4,760,835    $ 4,640,408    $ 4,517,666    $ 4,395,155    $ 4,270,380   

OBLIGOR #16

$ 15,000,000    $ 15,000,000    $ 14,573,778    $ 14,128,579    $ 13,693,352    $ 13,249,064    $ 12,804,749    $ 12,351,575    $ 11,897,986    $ 11,439,710    $ 10,972,886    $ 10,505,051    $ 10,028,879   

OBLIGOR #17

$ 10,000,000    $ 10,000,000    $ 10,000,000    $ 9,711,183    $ 9,428,358    $ 9,140,353    $ 8,852,490    $ 8,559,565    $ 8,266,576    $ 7,971,001    $ 7,670,547    $ 7,369,711    $ 7,064,121   

OBLIGOR #18

$ 13,749,133    $ 13,749,133    $ 13,749,133    $ 13,749,133    $ 11,749,133    $ 11,389,840    $ 11,030,718    $ 10,665,363    $ 10,299,863    $ 9,931,335    $ 9,556,937    $ 9,249,519    $ 8,801,783   

OBLIGOR #18

$ 2,000,000    $ 2,000,000    $ 2,000,000    $ 2,000,000    $ 2,000,000    $ 2,000,000    $ 2,000,000    $ 2,000,000    $ 2,000,000   

OBLIGOR #19

$ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 9,711,251    $ 9,422,842    $ 9,131,539    $ 4,031,539    $ —      $ —     

OBLIGOR #20

$ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000   

OBLIGOR #21

$ 5,000,000    $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 4,845,939    $ 4,690,274    $ 4,534,612    $ 4,377,391    $ 4,220,113    $ 4,062,022    $ 3,902,438    $ 3,742,706    $ 3,581,525   

OBLIGOR #21

$ 5,000,000    $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 4,851,509    $ 4,700,720    $ 4,549,975    $ 4,396,987    $ 4,243,953    $ 4,089,765    $ 3,933,422    $ 3,776,895    $ 3,618,270   

OBLIGOR #22

$ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 5,833,332    $ 5,666,665   

OBLIGOR #23

$ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000   

OBLIGOR #24

$ 8,283,251    $ 8,156,689    $ 8,030,126    $ 7,903,564    $ 7,777,001    $ 7,608,251    $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #25

$ 8,000,000    $ 8,000,000    $ 8,000,000    $ 8,000,000    $ 8,000,000    $ 7,900,000    $ 7,800,000    $ 7,700,000    $ 7,600,000    $ 7,200,000    $ 7,100,000    $ 7,000,000    $ 6,900,000   

OBLIGOR #25

$ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762   

OBLIGOR #26

$ —      $ —      $ —      $ —      $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000   

OBLIGOR #27

$ —      $ —      $ —      $ —      $ —      $ —      $ 7,283,956    $ 7,063,640    $ 6,843,463    $ 6,621,201    $ 6,394,809    $ 6,168,297    $ 5,937,754   

OBLIGOR #28

$ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000   

OBLIGOR #29

$ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ 3,726,539    $ 3,726,539   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

TOTAL

$ 230,681,409    $ 224,940,814    $ 222,584,218    $ 219,853,292    $ 213,275,244    $ 210,005,171    $ 206,578,601    $ 202,809,422    $ 199,038,413    $ 194,941,027    $ 185,845,674    $ 181,441,387    $ 177,158,512   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

Hercules Capital Funding Trust 2012-1
Monthly Servicing Report for the Collection Period Ending August 5, 2014 Page 8 of 9


Pool Balance - End of Period

 

OBLIGOR NAME   Jan-14     Feb-14     Mar -14     Apr -14     May-14     Jun-14     Jul-14     Aug-14  

OBLIGOR #1

  $ —        $ —        $ —        $ —        $ —        $ —        $ —        $ —     

OBLIGOR #2

  $ —        $ —        $ —        $ —        $ —        $ —        $ —        $ —     

OBLIGOR #3

  $ 4,230,769      $ 3,846,154      $ 3,461,539      $ 3,076,923      $ 2,692,308      $ 2,307,692      $ 1,923,077      $ 1,538,462   

OBLIGOR #4

  $ —        $ —        $ —        $ —        $ —        $ —        $ —        $ —     

OBLIGOR #5

  $ 8,798,641      $ 8,402,887      $ 7,994,745      $ 7,590,753      $ 7,180,113      $ 6,767,774      $ 6,348,972      $ 5,928,116   

OBLIGOR #6

  $ —        $ —        $ —        $ —        $ —        $ —        $ —        $ —     

OBLIGOR #7

  $ 9,761,673      $ 9,761,673      $ 9,761,673      $ 9,761,673      $ 9,761,673      $ 9,761,673      $ —        $ —     

OBLIGOR #8

  $ 13,201,238      $ 13,201,238      $ —        $ —        $ —        $ —        $ —        $ —     

OBLIGOR #9

  $ —        $ —        $ —        $ —        $ —        $ —        $ —        $ —     

OBLIGOR #10

  $ 620,917      $ 584,768      $ 547,801      $ 511,007      $ 473,743      $ 436,295      $ 398,393      $ 360,280   

OBLIGOR #11

  $ 1,101,651      $ 886,411      $ 668,839      $ 450,245      $ 229,845      $ —        $ —        $ —     

OBLIGOR #12

  $ 5,037,037      $ 4,740,741      $ 4,444,444      $ 4,148,148      $ 3,851,852      $ 3,555,556      $ 3,259,259      $ 2,962,963   

OBLIGOR #13

  $ 10,000,000      $ 10,000,000      $ 10,000,000      $ 10,000,000      $ 10,000,000      $ 10,000,000      $ 10,000,000      $ 10,000,000   

OBLIGOR #14

  $ 14,567,912      $ 14,131,732      $ 13,678,466      $ —        $ —        $ —        $ —        $ —     

OBLIGOR #15

  $ 4,145,750      $ 4,020,052      $ 3,889,944      $ 3,762,055      $ 3,632,030      $ 3,501,931      $ 3,369,749      $ 3,237,403   

OBLIGOR #16

  $ 9,551,290      $ 9,068,764      $ 8,572,185      $ 8,572,185      $ 8,396,046      $ 8,198,086      $ 7,995,348      $ 7,793,247   

OBLIGOR #17

  $ 6,757,933      $ 6,449,041      $ 6,131,915      $ 6,131,915      $ 6,131,915      $ 6,131,915      $ 6,131,915      $ 6,131,915   

OBLIGOR #18

  $ 8,420,762      $ 8,420,762      $ 8,420,762      $ 8,420,762      $ 8,420,762      $ 8,420,762      $ 8,420,762      $ 8,420,762   

OBLIGOR #18

  $ 1,913,989      $ 1,913,989      $ 1,913,989      $ 1,913,989      $ 1,913,989      $ 1,913,989      $ 1,913,989      $ 1,913,989   

OBLIGOR #19

  $ —        $ —        $ —        $ —        $ —        $ —        $ —        $ —     

OBLIGOR #20

  $ 7,250,000      $ 7,250,000      $ 7,250,000      $ 7,250,000      $ 7,250,000      $ 7,086,741      $ 6,919,112      $ 6,752,163   

OBLIGOR #21

  $ —        $ —        $ —        $ —        $ —        $ —        $ —        $ —     

OBLIGOR #21

  $ —        $ —        $ —        $ —        $ —        $ —        $ —        $ —     

OBLIGOR #22

  $ 5,499,997      $ 5,333,329      $ 5,166,662      $ 4,999,994      $ 4,833,326      $ 4,666,659      $ 4,499,991      $ 4,333,323   

OBLIGOR #23

  $ 10,000,000      $ 10,000,000      $ 10,000,000      $ 9,706,012      $ 9,407,058      $ 9,108,219      $ 8,804,532      $ 8,500,764   

OBLIGOR #24

  $ —        $ —        $ —        $ —        $ —        $ —        $ —        $ —     

OBLIGOR #25

  $ 6,800,000      $ 6,700,000      $ 6,600,000      $ 6,500,000      $ 6,400,000      $ 6,300,000      $ 6,200,000      $ 6,200,000   

OBLIGOR #25

  $ 4,514,762      $ 4,514,762      $ 4,514,762      $ 4,514,762      $ 4,514,762      $ 4,514,762      $ 4,514,762      $ 4,514,762   

OBLIGOR #26

  $ 10,000,000      $ 10,000,000      $ 10,000,000      $ 10,000,000      $ 10,000,000      $ 10,000,000      $ 10,000,000      $ 10,000,000   

OBLIGOR #27

  $ 5,706,912      $ 5,473,884      $ 5,233,631      $ —        $ —        $ —        $ —        $ —     

OBLIGOR #28

  $ 10,000,000      $ 10,000,000      $ 9,733,008      $ 9,472,654      $ 9,206,940      $ 8,941,603      $ 8,671,020      $ —     

OBLIGOR #29

  $ 3,726,539      $ 3,726,539      $ 3,726,539      $ 3,726,539      $ 3,726,539      $ 3,726,539      $ —        $ —     
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

TOTAL

  $ 161,607,770      $ 158,426,727      $ 141,710,903      $ 120,509,617      $ 118,022,900      $ 115,340,195      $ 99,370,881      $ 88,588,149   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

Hercules Capital Funding Trust 2012-1
Monthly Servicing Report for the Collection Period Ending August 5, 2014 Page 9 of 9


 

LOGO

Monthly Servicer Report

On Behalf of Hercules Capital Funding Trust 2012-1

Prepared: For the collection period ending September 5, 2014

 

Hercules Capital Funding Trust 2012-1
Monthly Servicing Report for the Collection Period Ending September 5, 2014 Page 1 of 9


Monthly Servicer Report

On Behalf of Hercules Capital Funding Trust 2012-1

 

First Day of Collection Period August 6, 2014
Last Day of Collection Period September 5, 2014
Payment Date September 15, 2014

Available Funds

On each Payment Date, payments on the Notes will be made from the following sources (collectively, “Available Funds”):

 

Obligor payments

Interest Received

$ 916,901   

Principal Received

$ 2,596,890   

Other Obligor Payments

$ —     
  

 

 

 

Obligor payments received with respect to the Loans during the preceding Collection Period;

$ 3,513,791   

Liquidation proceeds received with respect to the Loans during the preceding Collection Period;

$ —     

Interest earned on funds on deposit in the Collection Account, the Interest Reserve Account and the Expense Reserve Account;

Proceeds from any optional sale of Loans;

$ —     

Payments made by the Seller, the Depositor or the Servicer in connection with the required repurchase or purchase of Loans; and

$ —     

Scheduled Payment Advances

$ —     
  

 

 

 

Total Available Funds

$ 3,513,791   
  

 

 

 

 

Hercules Capital Funding Trust 2012-1
Monthly Servicing Report for the Collection Period Ending September 5, 2014 Page 2 of 9


Waterfall Calculations

 

Interest Collections

$ 916,901   

(1) Trustee, the Owner Trustee, the Backup Servicer, the Custodian and the Lockbox Bank, pro rata, any accrued and unpaid fees, expenses and indemnities then due to each of them with rolling twelve-month limit of $500K

US Bank Trustee - Annual Administrative Fee

$ 2,083   

US Bank Back Up Servicer - Annual Administrative Fee

$ 2,000   

US Bank Custodian - Monthly Fees

$ 150   

US Bank Lockbox Fees

$ 249   
    

 

 

 

Total due to Trustee/Owner Trustee/Backup Servicer/Custodian/Lockbox Bank fees/Rating Agency

$ 4,482   

The Servicing Fee shall be equal to the sum of the product of: (i) one-twelfth of 2.00% (or, with respect to the first Collection Period, a fraction equal to the number of days from and including the Cutoff Date through and including January 15, 2013 over 360) and (ii) the Aggregate Outstanding Pool Balance as of the beginning of the related Collection Period.

    

(2) Servicer or any Successor Servicer, any previously unreimbursed Scheduled Payment Advances, Servicing Advances, the Servicing Fee for the related calendar month, any supplemental servicing fees for the related calendar month, any reimbursements for mistaken deposits and other related amounts and certain other amounts due on the Loans that the Servicer is entitled to retain; to the Seller, amounts deposited into the Lockbox Account but not related to interest, principal or extension fees due on the Loans; a one-time servicer engagement fee to the Backup Servicer (upon becoming Successor Servicer) of $125K; and costs and expenses, if any, incurred by the Trustee or by any Successor Servicer (including the Backup Servicer) in connection with the transfer of servicing to any Successor Servicer, which shall not exceed $50K for a servicing transfer to the Backup Servicer or 175K to any other Successor Servicer

$ —     

First day of collection period

  August 6, 2014   

Aggregate Outstanding Pool Balance as of beginning of Collection Period

$ 100,493,167   

Applicable Servicing Fee %

  2.00

Number of Days to calculate

  0.08   
  

 

 

   

Total Servicing Fee

$ 167,489   

(3) Accrued interest due on the Notes, which is the sum of (i) the aggregate amount of interest due and accrued for the related Interest Period on the Notes; and (ii) the excess, if any, of the amount of interest remaining due and payable on the Notes on prior Payment Dates over the amounts in respect of interest actually paid on the Notes on such Payment Dates, plus interest on any such shortfall at the interest rate for the Notes

Outstanding Balance of Notes After Last Payment Date

$ 29,188,294   

Applicable Rate

  3.32
  

 

 

   

Interest due and accrued for related interest period

$ 80,754   

Interest unpaid and due from prior payment date

$ —     

Plus interest on interest unpaid and due from prior payment date

$ —     

Total Accrued Interest Due

$ 80,754   

(4) Principal on the Notes in the amounts required under “Principal Collections” below, but only to the extent not paid in full from Principal Collections

Outstanding Balance of Notes After Last Payment Date

$ 29,188,294   

Target Principal Amortization

$ 1,237,193   

Principal Payments Received from Principal Collections

$ (1,237,193

Principal Payments Received from Reserve Account

$ —     

Principal Payments Received from Interest Collections

$ —      $ —     
  

 

 

   

 

 

 

Note Balance after Principal Payment

$ 27,951,101   

(5) Pay each of the Trustee, the Owner Trustee, the Backup Servicer, any Successor Servicer, the Custodian and the Lockbox Bank, pro rata, any fees and expenses then due to such party that are in excess of the related cap or annual limitation

$ —     

(6) Pay all remaining amounts to the Certificateholder

  664,176   

Principal and Other Obligor Payment Collections

$ 2,596,890   

(1) Pay the amounts under “Interest Collections”, but only to the extent not paid in full from Interest Collections

$ —     

(2) (A) for so long as no Rapid Amortization Event has occurred, to pay principal on the Notes in an amount equal to the excess, if any, of the outstanding principal amount of the Notes over the Borrowing Base and (B) following the occurrence of any Rapid Amortization Event, to pay outstanding principal on the Notes until the outstanding principal balance of the Notes is reduced to zero

$ 1,237,193   

(3) Pay the remaining outstanding principal balance of the Notes on the Legal Final Payment Date

$ —     

(4) The amount on deposit in the Reserve Account is more than the Reserve Account Required Balance, to the Certificateholder, the balance in the Reserve Account that is in excess of 7.5% of the Aggregate Outstanding Principal Balance of the Notes after taking into account paydowns on the Notes made on the applicable Payment Date

$ 92,789   

(5) Pay the amounts referred to in clause (5) under “Interest Collections” above, but only to the extent not paid in full from Interest Collections;

$ —     

(6) Pay all remaining amounts to the Certificateholder

$ 1,452,486   

 

Hercules Capital Funding Trust 2012-1
Monthly Servicing Report for the Collection Period Ending September 5, 2014 Page 3 of 9


Borrowing Base and Required Note Payments

As of:

   September 5, 2014   

 

First Day of Collection Period

   August 6, 2014   

Last Day of Collection Period

   September 5, 2014   

Payment Date

   September 15, 2014   

 

Borrowing Base

             
   Adjusted Pool Balance           
    

Pool Balance

         $ 85,991,260   
    

Total Excess Concentration Amount

         $ (40,908,840
    

Outstanding Balance of all Delinquent Loans

         $ —     
    

Outstanding Balance of all Restructured Loans

         $ —     
             

 

 

 
Total Adjusted Pool Balance $ 45,082,420   

Advance Rate

  62.0
             

 

 

 
$ 27,951,101   
             

 

 

 

Borrowing Base

Beginning Outstanding Note Balance

$ 29,188,294   

Rapid Amortization

$ —     
             

 

 

 

Required Payment on Notes

$ 1,237,193   
Rapid Amortization Event

Restructured Loan

Loan that has been, or in accordance with the Credit Monitoring Guidelines is required to be, modified or restructured to extend the maturity thereof or reduce the amount (other than by reason of the repayment thereof) or extend the time for payment of principal thereof, in each case as a result of the Obligor’s material financial underperformance, distress or default. Such Loan shall cease to be a Restructured Loan when such Loan has been performing for at least six consecutive months since the date the most recent modification was made and is no longer required to be so modified or restructured in accordance with the Credit Monitoring Guidelines.

 

Reporting Date

   Obligor Name    Modification Date    Loan Balance    Total Restructured Amt
in last 6 months
           
           
           

 

Delinquent Loan

    
  Loan which is more than forty-five (45) days delinquent in payment; provided, however, that any Loan that has been substituted and replaced by the Issuer with a Substitute Loan pursuant to Section 2.04 and Section 2.06 will not be deemed to be a Delinquent Loan.   

 

     Days of Delinquency         
     31 to 59      60 to 89      90+      Total  

N/A

   $ —         $ —         $ —  $         —     

Total

   $ —         $ —         $ —  $         —     

 

Defaulted Loan

    
  Loan in the Collateral as to which the earliest of the following has occurred: (i) any payment, or any part of any payment in excess of 90%, due under such Loan (taking into account any waivers or modifications granted by the Servicer on such Loan) has become 120 days or more delinquent, whether or not the Servicer has foreclosed upon the related Collateral or if the related obligor is insolvent or has declared bankruptcy and the Loan is more than 180 days delinquent; (ii) the Servicer has foreclosed upon and sold the related collateral; (iii) 90 days has elapsed since the related Collateral was foreclosed upon by the Servicer; or (iv) the Servicer has determined in accordance with its customary practices that the Loan is uncollectible or the final recoverable amounts have been received.   

 

Reporting Date

   Obligor Name    Defaulted Date    Loan Balance    Days of Default

N/A

           

 

Aggregate Outstanding Principal Balance of the Notes exceeds the Borrowing Base for a period of three (3) consecutive calendar months   

 

Date

   Ending
Outstanding
Note
Balances
   Borrowing
Base
   Balance >
Borrowing
Base
    

N/A

              

Loans in the Collateral consist of Loans to 10 or fewer Obligors

 

     Obligor Count    Count >
10
    

N/A

        

An Event of Default

 

           

N/A

  

 

Hercules Capital Funding Trust 2012-1   
Monthly Servicing Report for the Collection Period Ending September 5, 2014    Page 4 of 9


Pool Balance, Note and General Reserve Schedules

 

Pool Balance

   

Note Balances

 

Ending

Collection

Period Date

  Beginning
Pool Balance
    Ending Pool
Balance
   

Payment

Date

  Beginning
Balance
    Principal
Payment
    Ending
Balance
    Note
Factor
    Note
Interest
Paid
    Cumulative
Interest
Paid
 

January 4, 2013

  $ 230,681,409      $ 224,940,814      January 16, 2013     129,300,000        5,781,416        123,518,584        0.9553        321,957        321,957   

February 4, 2013

  $ 224,940,814      $ 222,584,218      February 19, 2013     123,518,584        1,576,420        121,942,164        0.9431        375,908        697,865   

March 4, 2013

  $ 222,584,218      $ 219,853,292      March 18, 2013     121,942,164        1,890,769        120,051,395        0.9285        337,373        1,035,239   

April 4, 2013

  $ 219,853,292      $ 213,275,244      April 16, 2013     120,051,395        5,375,752        114,675,643        0.8869        332,142        1,367,381   

May 4, 2013

  $ 213,275,244      $ 210,005,171      May 16, 2013     114,675,643        2,133,032        112,542,610        0.8704        317,269        1,684,650   

June 4, 2013

  $ 210,005,171      $ 206,578,601      June 17, 2013     112,542,610        2,273,025        110,269,586        0.8528        311,368        1,996,018   

July 3, 2013

  $ 206,578,601      $ 202,809,422      July 16, 2013     110,269,586        2,564,881        107,704,704        0.8330        305,079        2,301,097   

August 2, 2013

  $ 202,809,422      $ 199,038,413      August 16, 2013     107,704,704        2,566,154        105,138,550        0.8131        297,983        2,599,080   

September 3, 2013

  $ 199,038,413      $ 194,941,027      September 16, 2013     105,138,550        2,664,395        102,474,155        0.7925        290,883        2,889,963   

October 4, 2013

  $ 194,941,027      $ 185,845,674      October 16, 2013     102,474,155        7,022,406        95,451,748        0.7382        283,059        3,173,022   

November 4, 2013

  $ 185,845,674      $ 181,441,387      November 18, 2013     95,451,748        2,986,838        92,464,911        0.7151        264,083        3,437,106   

December 4, 2013

  $ 181,441,387      $ 177,158,512      December 16, 2013     92,464,911        2,907,939        89,556,972        0.6926        255,820        3,692,925   

January 4, 2014

  $ 177,158,512      $ 161,607,770      January 16, 2014     89,556,972        12,687,162        76,869,810        0.5945        247,774        3,940,699   

February 4, 2014

  $ 161,607,770      $ 158,426,727      February 17, 2014     76,869,810        2,208,438        74,661,372        0.5774        212,673        4,153,373   

March 4, 2014

  $ 158,426,727      $ 141,710,903      March 17, 2014     74,661,372        10,879,422        63,781,949        0.4933        206,563        4,359,936   

April 4, 2014

  $ 141,710,903      $ 120,509,617      April 15, 2014     63,781,949        14,286,693        49,495,256        0.3828        176,463        4,536,399   

May 5, 2014

  $ 120,509,617      $ 118,022,900      May 15, 2014     49,495,256        1,444,243        48,051,013        0.3716        136,937        4,673,336   

June 5, 2014

  $ 118,022,900      $ 115,340,195      June 16, 2014     48,051,013        1,503,724        46,547,289        0.3600        132,941        4,806,277   

July 7, 2014

  $ 115,340,195      $ 99,370,881      July 15, 2014     46,547,289        11,099,622        35,447,667        0.2742        128,781        4,935,058   

August 5, 2014

  $ 99,370,881      $ 88,588,149      August 15, 2014     35,447,667        6,259,374        29,188,294        0.2257        98,072        5,033,130   

September 5, 2014

  $ 88,588,149      $ 85,991,260      September 15, 2014     29,188,294        1,237,193        27,951,101        0.2162        80,754        5,113,884   

 

General Reserve Account

 

Payment Date

  Beginning
Balance
    Plus: Required
Deposits
    Plus:
Interest
    Less: Excess over
General Reserve
Account Required
Balance
    Less:
Withdrawal
for Insufficient
Funds for
Required
Payments
    Less:
Withdrawal due
to Event of
Default
    Ending Balance     Reserve Balance
as a % of the
Outstanding
Principal Balance
of the Notes
 

January 16, 2013

  $ —        $ —        $ —        $ —        $ —        $ —        $ —          0.00

February 19, 2013

  $ —        $ 390,088      $ —        $ —        $ —        $ —        $ 390,088        0.32

March 16, 2013

  $ 390,088      $ 420,079      $ —        $ —        $ —        $ —        $ 810,167        0.66

April 16, 2013

  $ 810,167      $ —        $ —        $ —        $ 243,520      $ —        $ 566,646        0.47

May 16, 2013

  $ 566,646      $ 568,520      $ —        $ —        $ —        $ —        $ 1,135,167        0.99

June 17, 2013

  $ 1,135,167      $ 522,647      $ —        $ —        $ —        $ —        $ 1,657,814        1.47

July 16, 2013

  $ 1,657,814      $ 602,149      $ —        $ —        $ —        $ —        $ 2,259,963        2.05

August 16, 2013

  $ 2,259,963      $ 602,427      $ —        $ —        $ —        $ —        $ 2,862,390        2.66

September 16, 2013

  $ 2,862,390      $ 769,496      $ —        $ —        $ —        $ —        $ 3,631,886        3.45

October 16, 2013

  $ 3,631,886      $ 1,036,473      $ —        $ —        $ —        $ —        $ 4,668,359        4.56

November 18, 2013

  $ 4,668,359      $ 875,391      $ —        $ —        $ —        $ —        $ 5,543,750        5.81

December 16, 2013

  $ 5,543,750      $ 727,468      $ —        $ —        $ —        $ —        $ 6,271,218        6.78

January 16, 2014

  $ 6,271,218      $ —        $ —        $ 505,982      $ —        $ —        $ 5,765,236        7.50

February 17, 2014

  $ 5,765,236      $ —        $ —        $ 165,633      $ —        $ —        $ 5,599,603        7.50

March 17, 2014

  $ 5,599,603      $ —        $ —        $ 815,957      $ —        $ —        $ 4,783,646        7.50

April 15, 2014

  $ 4,783,646      $ —        $ —        $ 1,071,502      $ —        $ —        $ 3,712,144        7.50

May 15, 2014

  $ 3,712,144      $ —        $ —        $ 108,318      $ —        $ —        $ 3,603,826        7.50

June 16, 2014

  $ 3,603,826      $ —        $ —        $ 112,779      $ —        $ —        $ 3,491,047        7.50

July 15, 2014

  $ 3,491,047      $ —        $ —        $ 832,472      $ —        $ —        $ 2,658,575        7.50

August 15, 2014

  $ 2,658,575      $ —        $ —        $ 469,453      $ —        $ —        $ 2,189,122        7.50

September 15, 2014

  $ 2,189,122      $ —        $ —        $ 92,789      $ —        $ —        $ 2,096,333        7.50

 

Hercules Capital Funding Trust 2012-1   
Monthly Servicing Report for the Collection Period Ending September 5, 2014    Page 5 of 9


Pool Balance (by Obligor) Concentration

 

Obligor Count

  14   

 

Loan Status

   Loan Balance      % of
Loan Balance
 

Current

   $ 85,991,260         100

Restructured

   $ —           0

Defaulted

   $ —           0

Delinquent

   $ —           0
  

 

 

    

 

 

 

TOTAL

$ 85,991,260      100
  

 

 

    

 

 

 

 

Concentration Limits percentage of Loan Balance

  5   23   44

Concentration Limits in Dollars

$ 4,299,563    $ 19,777,990    $ 37,836,154   
     Single Obligor     Top Five     Top Ten  

Excess Concentration

      

OBLIGOR #25

   $ (6,415,199    

OBLIGOR #18

   $ (5,562,228    

OBLIGOR #26

   $ (5,700,437    

OBLIGOR #13

   $ (5,700,437    

OBLIGOR #23

   $ (3,894,949   $ (28,993,075  

OBLIGOR #16

   $ (3,289,495    

OBLIGOR #20

   $ (2,283,790    

OBLIGOR #17

   $ (1,832,352    

OBLIGOR #5

   $ (1,203,384     $ (40,908,840
  

 

 

   

 

 

   

 

 

 

Total

$ (35,882,271 $ (28,993,075 $ (40,908,840
  

 

 

   

 

 

   

 

 

 

 

Total Excess Concentration Amount

$ (40,908,840

Adjusted Pool Balance

$ 45,082,420   

 

Hercules Capital Funding Trust 2012-1
Monthly Servicing Report for the Collection Period Ending September 5, 2014 Page 6 of 9


Pool Balance and Note Schedules

 

Pool Balance

 

Ending Collection

Period Date

  Beginning Principal     Principal Collections*     Adjustment For
Substitution
    Other Collections     Ending Balance     Collateral Interest
Received
    Other
Collections
    Total Collections  

December 19, 2012

  $ 230,681,409      $ —        $ —          $ 230,681,409      $ —        $ —        $ —     

January 4, 2013

  $ 230,681,409      $ 5,740,595      $ —          $ 224,940,814      $ 2,084,457      $ —        $ 7,825,052   

February 4, 2013

  $ 224,940,814      $ 2,356,596      $ —          $ 222,584,218      $ 1,981,727      $ —        $ 4,338,323   

March 4, 2013

  $ 222,584,218      $ 2,730,927      $ —          $ 219,853,292      $ 1,770,085      $ —        $ 4,501,012   

April 4, 2013

  $ 219,853,292      $ 3,900,558      $ 2,677,489        $ 213,275,244      $ 1,935,178      $ 18,050      $ 5,853,787   

May 4, 2013

  $ 213,275,244      $ 3,270,073      $ —          $ 210,005,171      $ 1,846,576      $ —        $ 5,116,649   

June 4, 2013

  $ 210,005,171      $ 3,318,319      $ 108,251        $ 206,578,601      $ 1,977,416      $ —        $ 5,295,735   

July 3, 2013

  $ 206,578,601      $ 3,769,179      $ —          $ 202,809,422      $ 1,781,618      $ —        $ 5,550,798   

August 2, 2013

  $ 202,809,422      $ 3,771,009      $ —          $ 199,038,413      $ 1,805,042      $ —        $ 5,576,051   

September 3, 2013

  $ 199,038,413      $ 4,097,386      $ —        $ 106,000      $ 194,941,027      $ 1,784,734      $ —        $ 5,988,120   

October 4, 2013

  $ 194,941,027      $ 9,095,353      $ —          $ 185,845,674      $ 1,608,996      $ —        $ 10,704,349   

November 4, 2013

  $ 185,845,674      $ 4,099,288      $ 305,000      $ 333,333      $ 181,441,387      $ 1,634,167      $ —        $ 6,371,788   

December 4, 2013

  $ 181,441,387      $ 4,282,874      $ —        $ 80,000      $ 177,158,512      $ 1,573,172      $ —        $ 5,936,046   

January 4, 2014

  $ 177,158,512      $ 15,550,742      $ —        $ 12,383      $ 161,607,770      $ 1,555,000      $ —        $ 17,118,125   

February 4, 2014

  $ 161,607,770      $ 3,181,044      $ —        $ 650,659      $ 158,426,727      $ 1,374,048      $ —        $ 5,205,750   

March 4, 2014

  $ 158,426,727      $ 16,715,823      $ —        $ 661,525      $ 141,710,903      $ 1,360,269      $ —        $ 18,737,617   

April 4, 2014

  $ 141,710,903      $ 21,201,286      $ —        $ 3,184,388      $ 120,509,617      $ 1,343,993      $ —        $ 25,729,667   

May 5, 2014

  $ 120,509,617      $ 2,486,716      $ —        $ —        $ 118,022,900      $ 1,115,998      $ —        $ 3,602,715   

June 5, 2014

  $ 118,022,900      $ 2,682,705      $ —        $ 50,000      $ 115,340,195      $ 1,106,807      $ —        $ 3,839,512   

July 7, 2014

  $ 115,340,195      $ 15,969,314      $ —        $ 730,625      $ 99,370,881      $ 1,041,611      $ —        $ 17,741,550   

August 5, 2014

  $ 99,370,881      $ 10,782,732      $ —        $ 286,710      $ 88,588,149      $ 835,575      $ —        $ 11,905,018   

September 5, 2014

  $ 88,588,149      $ 2,596,890      $ —        $ —        $ 85,991,260      $ 916,901      $ —        $ 3,513,791   

 

Note Balance - Class A Notes

 

Payment Date

   Beginning Principal      Principal Paydown        Ending Balance      Note Factor  

December 19, 2012

   $ 129,300,000            $ 129,300,000         1.0000   

January 16, 2013

   $ 129,300,000       $ 5,781,416         $ 123,518,584         0.9553   

February 19, 2013

   $ 123,518,584       $ 1,576,420         $ 121,942,164         0.9431   

March 18, 2013

   $ 121,942,164       $ 1,890,769         $ 120,051,395         0.9285   

April 16, 2013

   $ 120,051,395       $ 5,375,752         $ 114,675,643         0.8869   

May 16, 2013

   $ 114,675,643       $ 2,133,032         $ 112,542,610         0.8704   

June 17, 2013

   $ 112,542,610       $ 2,273,025         $ 110,269,586         0.8528   

July 16, 2013

   $ 110,269,586       $ 2,564,881         $ 107,704,704         0.8330   

August 16, 2013

   $ 107,704,704       $ 2,566,154         $ 105,138,550         0.8131   

September 16, 2013

   $ 105,138,550       $ 2,664,395         $ 102,474,155         0.7925   

October 16, 2013

   $ 102,474,155       $ 7,022,406         $ 95,451,748         0.7382   

November 18, 2013

   $ 95,451,748       $ 2,986,838         $ 92,464,911         0.7151   

December 16, 2013

   $ 92,464,911       $ 2,907,939         $ 89,556,972         0.6926   

January 16, 2014

   $ 89,556,972       $ 12,687,162         $ 76,869,810         0.5945   

February 17, 2014

   $ 76,869,810       $ 2,208,438         $ 74,661,372         0.5774   

March 17, 2014

   $ 74,661,372       $ 10,879,422         $ 63,781,949         0.4933   

April 15, 2014

   $ 63,781,949       $ 14,286,693         $ 49,495,256         0.3828   

May 15, 2014

   $ 49,495,256       $ 1,444,243         $ 48,051,013         0.3716   

June 16, 2014

   $ 48,051,013       $ 1,503,724         $ 46,547,289         0.3600   

July 15, 2014

   $ 46,547,289       $ 11,099,622         $ 35,447,667         0.2742   

August 15, 2014

   $ 35,447,667       $ 6,259,374         $ 29,188,294         0.2257   

September 15, 2014

   $ 29,188,294       $ 1,237,193         $ 27,951,101         0.2162   

 

* Principal Collections can potentially include fees and other payments

 

Hercules Capital Funding Trust 2012-1   
Monthly Servicing Report for the Collection Period Ending September 5, 2014    Page 7 of 9


Pool Balance - End of Period

 

OBLIGOR
NAME
Dec-12   Jan-13   Feb-13   Mar-13   Apr-13   May-13   Jun-13   Jul-13   Aug-13   Sep-13   Oct-13   Nov-13   Dec-13  

OBLIGOR #1

$ 8,172,429    $ 7,861,069    $ 7,547,429    $ 7,226,148    $ 6,907,861    $ 6,585,614    $ 6,262,639    $ 5,935,821    $ 5,608,090    $ 5,277,960    $ 4,944,167    $ 4,609,177    $ 4,270,648   

OBLIGOR #2

$ 5,052,335    $ 4,572,047    $ 4,087,313    $ 3,594,431    $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #3

$ 9,230,769    $ 8,846,154    $ 8,461,538    $ 8,076,923    $ 7,692,308    $ 7,307,692    $ 6,923,077    $ 6,538,462    $ 6,153,846    $ 5,769,231    $ 5,384,615    $ 5,000,000    $ 4,615,385   

OBLIGOR #4

$ 11,292,550    $ 10,871,709    $ 10,447,046    $ 10,009,339    $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #5

$ 12,555,645    $ 12,555,645    $ 12,555,645    $ 12,555,645    $ 12,198,390    $ 11,833,442    $ 11,468,786    $ 11,096,603    $ 10,724,397    $ 10,348,377    $ 9,965,083    $ 9,581,282    $ 9,190,380   

OBLIGOR #6

$ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ —      $ —      $ —     

OBLIGOR #7

$ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673   

OBLIGOR #8

$ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 14,553,670    $ 14,107,639    $ 13,654,431   

OBLIGOR #9

$ 3,822,324    $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #10

$ 1,000,000    $ 1,000,000    $ 1,000,000    $ 966,343    $ 933,243    $ 899,586    $ 865,897    $ 831,664    $ 797,375    $ 762,784    $ 727,670    $ 692,464    $ 656,749   

OBLIGOR #11

$ 3,758,211    $ 3,563,606    $ 3,367,447    $ 3,167,242    $ 2,968,011    $ 2,766,494    $ 2,564,157    $ 2,359,611    $ 2,154,121    $ 1,947,038    $ 1,737,864    $ 1,527,555    $ 1,315,235   

OBLIGOR #12

$ 8,000,000    $ 8,000,000    $ 8,000,000    $ 8,000,000    $ 7,703,704    $ 7,407,407    $ 7,111,111    $ 6,814,815    $ 6,518,519    $ 6,222,222    $ 5,925,926    $ 5,629,630    $ 5,333,333   

OBLIGOR #13

$ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000   

OBLIGOR #14

$ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000   

OBLIGOR #15

$ 5,000,000    $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 4,880,240    $ 4,760,835    $ 4,640,408    $ 4,517,666    $ 4,395,155    $ 4,270,380   

OBLIGOR #16

$ 15,000,000    $ 15,000,000    $ 14,573,778    $ 14,128,579    $ 13,693,352    $ 13,249,064    $ 12,804,749    $ 12,351,575    $ 11,897,986    $ 11,439,710    $ 10,972,886    $ 10,505,051    $ 10,028,879   

OBLIGOR #17

$ 10,000,000    $ 10,000,000    $ 10,000,000    $ 9,711,183    $ 9,428,358    $ 9,140,353    $ 8,852,490    $ 8,559,565    $ 8,266,576    $ 7,971,001    $ 7,670,547    $ 7,369,711    $ 7,064,121   

OBLIGOR #18

$ 13,749,133    $ 13,749,133    $ 13,749,133    $ 13,749,133    $ 11,749,133    $ 11,389,840    $ 11,030,718    $ 10,665,363    $ 10,299,863    $ 9,931,335    $ 9,556,937    $ 9,249,519    $ 8,801,783   

OBLIGOR #18

$ 2,000,000    $ 2,000,000    $ 2,000,000    $ 2,000,000    $ 2,000,000    $ 2,000,000    $ 2,000,000    $ 2,000,000    $ 2,000,000   

OBLIGOR #19

$ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 9,711,251    $ 9,422,842    $ 9,131,539    $ 4,031,539    $ —      $ —     

OBLIGOR #20

$ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000   

OBLIGOR #21

$ 5,000,000    $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 4,845,939    $ 4,690,274    $ 4,534,612    $ 4,377,391    $ 4,220,113    $ 4,062,022    $ 3,902,438    $ 3,742,706    $ 3,581,525   

OBLIGOR #21

$ 5,000,000    $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 4,851,509    $ 4,700,720    $ 4,549,975    $ 4,396,987    $ 4,243,953    $ 4,089,765    $ 3,933,422    $ 3,776,895    $ 3,618,270   

OBLIGOR #22

$ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 5,833,332    $ 5,666,665   

OBLIGOR #23

$ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000   

OBLIGOR #24

$ 8,283,251    $ 8,156,689    $ 8,030,126    $ 7,903,564    $ 7,777,001    $ 7,608,251    $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #25

$ 8,000,000    $ 8,000,000    $ 8,000,000    $ 8,000,000    $ 8,000,000    $ 7,900,000    $ 7,800,000    $ 7,700,000    $ 7,600,000    $ 7,200,000    $ 7,100,000    $ 7,000,000    $ 6,900,000   

OBLIGOR #25

$ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762   

OBLIGOR #26

$ —      $ —      $ —      $ —      $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000   

OBLIGOR #27

$ —      $ —      $ —      $ —      $ —      $ —      $ 7,283,956    $ 7,063,640    $ 6,843,463    $ 6,621,201    $ 6,394,809    $ 6,168,297    $ 5,937,754   

OBLIGOR #28

$ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000   

OBLIGOR #29

$ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ 3,726,539    $ 3,726,539   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

TOTAL

$ 230,681,409    $ 224,940,814    $ 222,584,218    $ 219,853,292    $ 213,275,244    $ 210,005,171    $ 206,578,601    $ 202,809,422    $ 199,038,413    $ 194,941,027    $ 185,845,674    $ 181,441,387    $ 177,158,512   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

Hercules Capital Funding Trust 2012-1
Monthly Servicing Report for the Collection Period Ending September 5, 2014 Page 8 of 9


Pool Balance - End of Period

 

OBLIGOR NAME   Jan-14     Feb-14     Mar-14     Apr-14     May-14     Jun-14     Jul-14     Aug-14     Sep-14  

OBLIGOR #1

  $ —        $ —        $ —        $ —        $ —        $ —        $ —        $ —        $ —     

OBLIGOR #2

  $ —        $ —        $ —        $ —        $ —        $ —        $ —        $ —        $ —     

OBLIGOR #3

  $ 4,230,769      $ 3,846,154      $ 3,461,539      $ 3,076,923      $ 2,692,308      $ 2,307,692      $ 1,923,077      $ 1,538,462      $ 1,153,846   

OBLIGOR #4

  $ —        $ —        $ —        $ —        $ —        $ —        $ —        $ —        $ —     

OBLIGOR #5

  $ 8,798,641      $ 8,402,887      $ 7,994,745      $ 7,590,753      $ 7,180,113      $ 6,767,774      $ 6,348,972      $ 5,928,116      $ 5,502,947   

OBLIGOR #6

  $ —        $ —        $ —        $ —        $ —        $ —        $ —        $ —        $ —     

OBLIGOR #7

  $ 9,761,673      $ 9,761,673      $ 9,761,673      $ 9,761,673      $ 9,761,673      $ 9,761,673      $ —        $ —        $ —     

OBLIGOR #8

  $ 13,201,238      $ 13,201,238      $ —        $ —        $ —        $ —        $ —        $ —        $ —     

OBLIGOR #9

  $ —        $ —        $ —        $ —        $ —        $ —        $ —        $ —        $ —     

OBLIGOR #10

  $ 620,917      $ 584,768      $ 547,801      $ 511,007      $ 473,743      $ 436,295      $ 398,393      $ 360,280      $ 321,831   

OBLIGOR #11

  $ 1,101,651      $ 886,411      $ 668,839      $ 450,245      $ 229,845      $ —        $ —        $ —        $ —     

OBLIGOR #12

  $ 5,037,037      $ 4,740,741      $ 4,444,444      $ 4,148,148      $ 3,851,852      $ 3,555,556      $ 3,259,259      $ 2,962,963      $ 2,666,667   

OBLIGOR #13

  $ 10,000,000      $ 10,000,000      $ 10,000,000      $ 10,000,000      $ 10,000,000      $ 10,000,000      $ 10,000,000      $ 10,000,000      $ 10,000,000   

OBLIGOR #14

  $ 14,567,912      $ 14,131,732      $ 13,678,466      $ —        $ —        $ —        $ —        $ —        $ —     

OBLIGOR #15

  $ 4,145,750      $ 4,020,052      $ 3,889,944      $ 3,762,055      $ 3,632,030      $ 3,501,931      $ 3,369,749      $ 3,237,403      $ 3,103,923   

OBLIGOR #16

  $ 9,551,290      $ 9,068,764      $ 8,572,185      $ 8,572,185      $ 8,396,046      $ 8,198,086      $ 7,995,348      $ 7,793,247      $ 7,589,058   

OBLIGOR #17

  $ 6,757,933      $ 6,449,041      $ 6,131,915      $ 6,131,915      $ 6,131,915      $ 6,131,915      $ 6,131,915      $ 6,131,915      $ 6,131,915   

OBLIGOR #18

  $ 8,420,762      $ 8,420,762      $ 8,420,762      $ 8,420,762      $ 8,420,762      $ 8,420,762      $ 8,420,762      $ 8,420,762      $ 8,034,849   

OBLIGOR #18

  $ 1,913,989      $ 1,913,989      $ 1,913,989      $ 1,913,989      $ 1,913,989      $ 1,913,989      $ 1,913,989      $ 1,913,989      $ 1,826,942   

OBLIGOR #19

  $ —        $ —        $ —        $ —        $ —        $ —        $ —        $ —        $ —     

OBLIGOR #20

  $ 7,250,000      $ 7,250,000      $ 7,250,000      $ 7,250,000      $ 7,250,000      $ 7,086,741      $ 6,919,112      $ 6,752,163      $ 6,583,353   

OBLIGOR #21

  $ —        $ —        $ —        $ —        $ —        $ —        $ —        $ —        $ —     

OBLIGOR #21

  $ —        $ —        $ —        $ —        $ —        $ —        $ —        $ —        $ —     

OBLIGOR #22

  $ 5,499,997      $ 5,333,329      $ 5,166,662      $ 4,999,994      $ 4,833,326      $ 4,666,659      $ 4,499,991      $ 4,333,323      $ 4,166,656   

OBLIGOR #23

  $ 10,000,000      $ 10,000,000      $ 10,000,000      $ 9,706,012      $ 9,407,058      $ 9,108,219      $ 8,804,532      $ 8,500,764      $ 8,194,512   

OBLIGOR #24

  $ —        $ —        $ —        $ —        $ —        $ —        $ —        $ —        $ —     

OBLIGOR #25

  $ 6,800,000      $ 6,700,000      $ 6,600,000      $ 6,500,000      $ 6,400,000      $ 6,300,000      $ 6,200,000      $ 6,200,000      $ 6,200,000   

OBLIGOR #25

  $ 4,514,762      $ 4,514,762      $ 4,514,762      $ 4,514,762      $ 4,514,762      $ 4,514,762      $ 4,514,762      $ 4,514,762      $ 4,514,762   

OBLIGOR #26

  $ 10,000,000      $ 10,000,000      $ 10,000,000      $ 10,000,000      $ 10,000,000      $ 10,000,000      $ 10,000,000      $ 10,000,000      $ 10,000,000   

OBLIGOR #27

  $ 5,706,912      $ 5,473,884      $ 5,233,631      $ —        $ —        $ —        $ —        $ —        $ —     

OBLIGOR #28

  $ 10,000,000      $ 10,000,000      $ 9,733,008      $ 9,472,654      $ 9,206,940      $ 8,941,603      $ 8,671,020      $ —        $ —     

OBLIGOR #29

  $ 3,726,539      $ 3,726,539      $ 3,726,539      $ 3,726,539      $ 3,726,539      $ 3,726,539      $ —        $ —        $ —     
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

TOTAL

  $ 161,607,770      $ 158,426,727      $ 141,710,903      $ 120,509,617      $ 118,022,900      $ 115,340,195      $ 99,370,881      $ 88,588,149      $ 85,991,260   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

Hercules Capital Funding Trust 2012-1
Monthly Servicing Report for the Collection Period Ending September 5, 2014 Page 9 of 9


 

LOGO

Monthly Servicer Report

On Behalf of Hercules Capital Funding Trust 2012-1

Prepared: For the collection period ending October 6, 2014

 

Hercules Capital Funding Trust 2012-1
Monthly Servicing Report for the Collection Period Ending October 6, 2014 Page 1 of 9


Monthly Servicer Report

On Behalf of Hercules Capital Funding Trust 2012-1

 

First Day of Collection Period September 8, 2014
Last Day of Collection Period October 6, 2014
Payment Date October 15, 2014

Available Funds

On each Payment Date, payments on the Notes will be made from the following sources (collectively, “Available Funds”):

 

Obligor payments

Interest Received

$ 769,923   

Principal Received

$ 2,194,719   

Other Obligor Payments

$ —     
  

 

 

 

Obligor payments received with respect to the Loans during the preceding Collection Period;

$ 2,964,642   

Liquidation proceeds received with respect to the Loans during the preceding Collection Period;

$ —     

Interest earned on funds on deposit in the Collection Account, the Interest Reserve Account and the Expense Reserve Account;

Proceeds from any optional sale of Loans;

$ —     

Payments made by the Seller, the Depositor or the Servicer in connection with the required repurchase or purchase of Loans; and

$ —     

Scheduled Payment Advances

$ —     
  

 

 

 

Total Available Funds

$ 2,964,642   
  

 

 

 

 

Hercules Capital Funding Trust 2012-1
Monthly Servicing Report for the Collection Period Ending October 6, 2014 Page 2 of 9


Waterfall Calculations

 

Interest Collections

$ 769,923   

(1) Trustee, the Owner Trustee, the Backup Servicer, the Custodian and the Lockbox Bank, pro rata, any accrued and unpaid fees, expenses and indemnities then due to each of them with rolling twelve-month limit of $500K

US Bank Trustee - Annual Administrative Fee

$ 2,083   

US Bank Back Up Servicer - Annual Administrative Fee

$ 2,000   

US Bank Custodian - Monthly Fees

$ 150   

US Bank Lockbox Fees

$ 249   
    

 

 

 

Total due to Trustee/Owner Trustee/Backup Servicer/Custodian/Lockbox Bank fees/Rating Agency

$ 4,482   

The Servicing Fee shall be equal to the sum of the product of: (i) one-twelfth of 2.00% (or, with respect to the first Collection Period, a fraction equal to the number of days from and including the Cutoff Date through and including January 15, 2013 over 360) and (ii) the Aggregate Outstanding Pool Balance as of the beginning of the related Collection Period.

    

(2) Servicer or any Successor Servicer, any previously unreimbursed Scheduled Payment Advances, Servicing Advances, the Servicing Fee for the related calendar month, any supplemental servicing fees for the related calendar month, any reimbursements for mistaken deposits and other related amounts and certain other amounts due on the Loans that the Servicer is entitled to retain; to the Seller, amounts deposited into the Lockbox Account but not related to interest, principal or extension fees due on the Loans; a one-time servicer engagement fee to the Backup Servicer (upon becoming Successor Servicer) of $125K; and costs and expenses, if any, incurred by the Trustee or by any Successor Servicer (including the Backup Servicer) in connection with the transfer of servicing to any Successor Servicer, which shall not exceed $50K for a servicing transfer to the Backup Servicer or 175K to any other Successor Servicer

$ —     

First day of collection period

  September 8, 2014   

Aggregate Outstanding Pool Balance as of beginning of Collection Period

$ 89,505,051   

Applicable Servicing Fee %

  2.00

Number of Days to calculate

  0.08   
  

 

 

   

Total Servicing Fee

$ 149,175   

(3) Accrued interest due on the Notes, which is the sum of (i) the aggregate amount of interest due and accrued for the related Interest Period on the Notes; and (ii) the excess, if any, of the amount of interest remaining due and payable on the Notes on prior Payment Dates over the amounts in respect of interest actually paid on the Notes on such Payment Dates, plus interest on any such shortfall at the interest rate for the Notes

Outstanding Balance of Notes After Last Payment Date

$ 27,951,101   

Applicable Rate

  3.32
  

 

 

   

Interest due and accrued for related interest period

$ 77,331   

Interest unpaid and due from prior payment date

$ —     

Plus interest on interest unpaid and due from prior payment date

$ —     

Total Accrued Interest Due

$ 77,331   

(4) Principal on the Notes in the amounts required under “Principal Collections” below, but only to the extent not paid in full from Principal Collections

Outstanding Balance of Notes After Last Payment Date

$ 27,951,101   

Target Principal Amortization

$ 1,128,989   

Principal Payments Received from Principal Collections

$ (1,128,989

Principal Payments Received from Reserve Account

$ —     

Principal Payments Received from Interest Collections

$ —      $ —     
  

 

 

   

 

 

 

Note Balance after Principal Payment

$ 26,822,112   

(5) Pay each of the Trustee, the Owner Trustee, the Backup Servicer, any Successor Servicer, the Custodian and the Lockbox Bank, pro rata, any fees and expenses then due to such party that are in excess of the related cap or annual limitation

$ —     

(6) Pay all remaining amounts to the Certificateholder

  538,934   

Principal and Other Obligor Payment Collections

$ 2,194,719   

(1) Pay the amounts under “Interest Collections”, but only to the extent not paid in full from Interest Collections

$ —     

(2) (A) for so long as no Rapid Amortization Event has occurred, to pay principal on the Notes in an amount equal to the excess, if any, of the outstanding principal amount of the Notes over the Borrowing Base and (B) following the occurrence of any Rapid Amortization Event, to pay outstanding principal on the Notes until the outstanding principal balance of the Notes is reduced to zero

$ 1,128,989   

(3) Pay the remaining outstanding principal balance of the Notes on the Legal Final Payment Date

$ —     

(4) The amount on deposit in the Reserve Account is more than the Reserve Account Required Balance, to the Certificateholder, the balance in the Reserve Account that is in excess of 7.5% of the Aggregate Outstanding Principal Balance of the Notes after taking into account paydowns on the Notes made on the applicable Payment Date

$ 84,674   

(5) Pay the amounts referred to in clause (5) under “Interest Collections” above, but only to the extent not paid in full from Interest Collections;

$ —     

(6) Pay all remaining amounts to the Certificateholder

$ 1,150,404   

 

Hercules Capital Funding Trust 2012-1
Monthly Servicing Report for the Collection Period Ending October 6, 2014 Page 3 of 9


Borrowing Base and Required Note Payments

As of:

   October 6, 2014   

 

First Day of Collection Period

   September 8, 2014   

Last Day of Collection Period

   October 6, 2014   

Payment Date

   October 15, 2014   

 

Borrowing Base

             
  

Adjusted Pool Balance

          
    

Pool Balance

         $ 83,796,541   
    

Total Excess Concentration Amount

         $ (40,535,071
    

Outstanding Balance of all Delinquent Loans

         $ —     
    

Outstanding Balance of all Restructured Loans

         $ —     
             

 

 

 
Total Adjusted Pool Balance $ 43,261,470   

Advance Rate

  62.0
             

 

 

 
$ 26,822,112   
             

 

 

 

Borrowing Base

Beginning Outstanding Note Balance

$ 27,951,101   

Rapid Amortization

$ —     
             

 

 

 

Required Payment on Notes

$ 1,128,989   

Rapid Amortization Event

Restructured Loan

Loan that has been, or in accordance with the Credit Monitoring Guidelines is required to be, modified or restructured to extend the maturity thereof or reduce the amount (other than by reason of the repayment thereof) or extend the time for payment of principal thereof, in each case as a result of the Obligor’s material financial underperformance, distress or default. Such Loan shall cease to be a Restructured Loan when such Loan has been performing for at least six consecutive months since the date the most recent modification was made and is no longer required to be so modified or restructured in accordance with the Credit Monitoring Guidelines.

 

Reporting Date

   Obligor Name    Modification Date    Loan Balance    Total Restructured Amt
in last 6 months
           
           
           

 

Delinquent Loan

              
   Loan which is more than forty-five (45) days delinquent in payment; provided, however, that any Loan that has been substituted and replaced by the Issuer with a Substitute Loan pursuant to Section 2.04 and Section 2.06 will not be deemed to be a Delinquent Loan.   

 

     Days of Delinquency         
     31 to 59      60 to 89      90+      Total  

N/A

   $ —         $ —         $ —         $ —     

Total

   $ —         $ —         $ —         $ —     

 

Defaulted Loan

              
   Loan in the Collateral as to which the earliest of the following has occurred: (i) any payment, or any part of any payment in excess of 90%, due under such Loan (taking into account any waivers or modifications granted by the Servicer on such Loan) has become 120 days or more delinquent, whether or not the Servicer has foreclosed upon the related Collateral or if the related obligor is insolvent or has declared bankruptcy and the Loan is more than 180 days delinquent; (ii) the Servicer has foreclosed upon and sold the related collateral; (iii) 90 days has elapsed since the related Collateral was foreclosed upon by the Servicer; or (iv) the Servicer has determined in accordance with its customary practices that the Loan is uncollectible or the final recoverable amounts have been received.   

 

Reporting Date

   Obligor Name    Defaulted Date    Loan Balance    Days of Default

N/A

           

 

Aggregate Outstanding Principal Balance of the Notes exceeds the Borrowing Base for a period of three (3) consecutive calendar months   

 

Date

   Ending Outstanding
Note Balances
   Borrowing Base    Balance > Borrowing
Base
    

N/A

              

 

Loans in the Collateral consist of Loans to 10 or fewer Obligors

              

 

     Obligor Count    Count >
10
    

N/A

        

 

An Event of Default

              
           

N/A

  

 

Hercules Capital Funding Trust 2012-1   
Monthly Servicing Report for the Collection Period Ending October 6, 2014    Page 4 of 9


Pool Balance, Note and General Reserve Schedules

 

Pool Balance

   

Note Balances

 

Ending

Collection

Period Date

  Beginning
Pool Balance
    Ending Pool
Balance
   

Payment

Date

  Beginning
Balance
    Principal
Payment
    Ending
Balance
    Note
Factor
    Note
Interest
Paid
    Cumulative
Interest
Paid
 

January 4, 2013

  $ 230,681,409      $ 224,940,814      January 16, 2013     129,300,000        5,781,416        123,518,584        0.9553        321,957        321,957   

February 4, 2013

  $ 224,940,814      $ 222,584,218      February 19, 2013     123,518,584        1,576,420        121,942,164        0.9431        375,908        697,865   

March 4, 2013

  $ 222,584,218      $ 219,853,292      March 18, 2013     121,942,164        1,890,769        120,051,395        0.9285        337,373        1,035,239   

April 4, 2013

  $ 219,853,292      $ 213,275,244      April 16, 2013     120,051,395        5,375,752        114,675,643        0.8869        332,142        1,367,381   

May 4, 2013

  $ 213,275,244      $ 210,005,171      May 16, 2013     114,675,643        2,133,032        112,542,610        0.8704        317,269        1,684,650   

June 4, 2013

  $ 210,005,171      $ 206,578,601      June 17, 2013     112,542,610        2,273,025        110,269,586        0.8528        311,368        1,996,018   

July 3, 2013

  $ 206,578,601      $ 202,809,422      July 16, 2013     110,269,586        2,564,881        107,704,704        0.8330        305,079        2,301,097   

August 2, 2013

  $ 202,809,422      $ 199,038,413      August 16, 2013     107,704,704        2,566,154        105,138,550        0.8131        297,983        2,599,080   

September 3, 2013

  $ 199,038,413      $ 194,941,027      September 16, 2013     105,138,550        2,664,395        102,474,155        0.7925        290,883        2,889,963   

October 4, 2013

  $ 194,941,027      $ 185,845,674      October 16, 2013     102,474,155        7,022,406        95,451,748        0.7382        283,059        3,173,022   

November 4, 2013

  $ 185,845,674      $ 181,441,387      November 18, 2013     95,451,748        2,986,838        92,464,911        0.7151        264,083        3,437,106   

December 4, 2013

  $ 181,441,387      $ 177,158,512      December 16, 2013     92,464,911        2,907,939        89,556,972        0.6926        255,820        3,692,925   

January 4, 2014

  $ 177,158,512      $ 161,607,770      January 16, 2014     89,556,972        12,687,162        76,869,810        0.5945        247,774        3,940,699   

February 4, 2014

  $ 161,607,770      $ 158,426,727      February 17, 2014     76,869,810        2,208,438        74,661,372        0.5774        212,673        4,153,373   

March 4, 2014

  $ 158,426,727      $ 141,710,903      March 17, 2014     74,661,372        10,879,422        63,781,949        0.4933        206,563        4,359,936   

April 4, 2014

  $ 141,710,903      $ 120,509,617      April 15, 2014     63,781,949        14,286,693        49,495,256        0.3828        176,463        4,536,399   

May 5, 2014

  $ 120,509,617      $ 118,022,900      May 15, 2014     49,495,256        1,444,243        48,051,013        0.3716        136,937        4,673,336   

June 5, 2014

  $ 118,022,900      $ 115,340,195      June 16, 2014     48,051,013        1,503,724        46,547,289        0.3600        132,941        4,806,277   

July 7, 2014

  $ 115,340,195      $ 99,370,881      July 15, 2014     46,547,289        11,099,622        35,447,667        0.2742        128,781        4,935,058   

August 5, 2014

  $ 99,370,881      $ 88,588,149      August 15, 2014     35,447,667        6,259,374        29,188,294        0.2257        98,072        5,033,130   

September 5, 2014

  $ 88,588,149      $ 85,991,260      September 15, 2014     29,188,294        1,237,193        27,951,101        0.2162        80,754        5,113,884   

October 6, 2014

  $ 85,991,260      $ 83,796,541      October 15, 2014     27,951,101        1,128,989        26,822,112        0.2074        77,331        5,191,215   

 

General Reserve Account

 

Payment Date

  Beginning
Balance
    Plus: Required
Deposits
    Plus:
Interest
    Less: Excess over
General Reserve
Account Required
Balance
    Less:
Withdrawal
for Insufficient
Funds for
Required
Payments
    Less:
Withdrawal due
to Event of
Default
    Ending Balance     Reserve Balance
as a % of the
Outstanding
Principal Balance
of the  Notes
 

January 16, 2013

  $ —        $ —        $ —        $ —        $ —        $ —        $ —          0.00

February 19, 2013

  $ —        $ 390,088      $ —        $ —        $ —        $ —        $ 390,088        0.32

March 16, 2013

  $ 390,088      $ 420,079      $ —        $ —        $ —        $ —        $ 810,167        0.66

April 16, 2013

  $ 810,167      $ —        $ —        $ —        $ 243,520      $ —        $ 566,646        0.47

May 16, 2013

  $ 566,646      $ 568,520      $ —        $ —        $ —        $ —        $ 1,135,167        0.99

June 17, 2013

  $ 1,135,167      $ 522,647      $ —        $ —        $ —        $ —        $ 1,657,814        1.47

July 16, 2013

  $ 1,657,814      $ 602,149      $ —        $ —        $ —        $ —        $ 2,259,963        2.05

August 16, 2013

  $ 2,259,963      $ 602,427      $ —        $ —        $ —        $ —        $ 2,862,390        2.66

September 16, 2013

  $ 2,862,390      $ 769,496      $ —        $ —        $ —        $ —        $ 3,631,886        3.45

October 16, 2013

  $ 3,631,886      $ 1,036,473      $ —        $ —        $ —        $ —        $ 4,668,359        4.56

November 18, 2013

  $ 4,668,359      $ 875,391      $ —        $ —        $ —        $ —        $ 5,543,750        5.81

December 16, 2013

  $ 5,543,750      $ 727,468      $ —        $ —        $ —        $ —        $ 6,271,218        6.78

January 16, 2014

  $ 6,271,218      $ —        $ —        $ 505,982      $ —        $ —        $ 5,765,236        7.50

February 17, 2014

  $ 5,765,236      $ —        $ —        $ 165,633      $ —        $ —        $ 5,599,603        7.50

March 17, 2014

  $ 5,599,603      $ —        $ —        $ 815,957      $ —        $ —        $ 4,783,646        7.50

April 15, 2014

  $ 4,783,646      $ —        $ —        $ 1,071,502      $ —        $ —        $ 3,712,144        7.50

May 15, 2014

  $ 3,712,144      $ —        $ —        $ 108,318      $ —        $ —        $ 3,603,826        7.50

June 16, 2014

  $ 3,603,826      $ —        $ —        $ 112,779      $ —        $ —        $ 3,491,047        7.50

July 15, 2014

  $ 3,491,047      $ —        $ —        $ 832,472      $ —        $ —        $ 2,658,575        7.50

August 15, 2014

  $ 2,658,575      $ —        $ —        $ 469,453      $ —        $ —        $ 2,189,122        7.50

September 15, 2014

  $ 2,189,122      $ —        $ —        $ 92,789      $ —        $ —        $ 2,096,333        7.50

October 15, 2014

  $ 2,096,333      $ —        $ —        $ 84,674      $ —        $ —        $ 2,011,658        7.50

 

Hercules Capital Funding Trust 2012-1   
Monthly Servicing Report for the Collection Period Ending October 6, 2014    Page 5 of 9


Pool Balance (by Obligor) Concentration

 

Obligor Count

  14   

 

Loan Status

   Loan Balance      % of
Loan Balance
 

Current

   $ 83,796,541         100

Restructured

   $ —           0

Defaulted

   $ —           0

Delinquent

   $ —           0
  

 

 

    

 

 

 

TOTAL

$ 83,796,541      100
  

 

 

    

 

 

 

 

Concentration Limits percentage of Loan Balance

  5   23   44

Concentration Limits in Dollars

$ 4,189,827    $ 19,273,204    $ 36,870,478   
     Single Obligor     Top Five     Top Ten  

Excess Concentration

      

OBLIGOR #25

   $ (6,524,935    

OBLIGOR #26

   $ (5,810,173    

OBLIGOR #13

   $ (5,810,173    

OBLIGOR #18

   $ (5,191,997    

OBLIGOR #23

   $ (3,693,764   $ (28,706,973  

OBLIGOR #16

   $ (3,190,403    

OBLIGOR #20

   $ (2,220,464    

OBLIGOR #17

   $ (1,942,088    

OBLIGOR #5

   $ (1,313,120     $ (40,535,071
  

 

 

   

 

 

   

 

 

 

Total

$ (35,697,117 $ (28,706,973 $ (40,535,071
  

 

 

   

 

 

   

 

 

 

 

Total Excess Concentration Amount

$ (40,535,071

Adjusted Pool Balance

$ 43,261,470   

 

Hercules Capital Funding Trust 2012-1
Monthly Servicing Report for the Collection Period Ending October 6, 2014 Page 6 of 9


Pool Balance and Note Schedules

 

Pool Balance

 

Ending Collection

Period Date

  Beginning Principal     Principal Collections*     Adjustment For
Substitution
    Other Collections     Ending Balance     Collateral Interest
Received
    Other
Collections
    Total Collections  

December 19, 2012

  $ 230,681,409      $ —        $ —          $ 230,681,409      $ —        $ —        $ —     

January 4, 2013

  $ 230,681,409      $ 5,740,595      $ —          $ 224,940,814      $ 2,084,457      $ —        $ 7,825,052   

February 4, 2013

  $ 224,940,814      $ 2,356,596      $ —          $ 222,584,218      $ 1,981,727      $ —        $ 4,338,323   

March 4, 2013

  $ 222,584,218      $ 2,730,927      $ —          $ 219,853,292      $ 1,770,085      $ —        $ 4,501,012   

April 4, 2013

  $ 219,853,292      $ 3,900,558      $ 2,677,489        $ 213,275,244      $ 1,935,178      $ 18,050      $ 5,853,787   

May 4, 2013

  $ 213,275,244      $ 3,270,073      $ —          $ 210,005,171      $ 1,846,576      $ —        $ 5,116,649   

June 4, 2013

  $ 210,005,171      $ 3,318,319      $ 108,251        $ 206,578,601      $ 1,977,416      $ —        $ 5,295,735   

July 3, 2013

  $ 206,578,601      $ 3,769,179      $ —          $ 202,809,422      $ 1,781,618      $ —        $ 5,550,798   

August 2, 2013

  $ 202,809,422      $ 3,771,009      $ —          $ 199,038,413      $ 1,805,042      $ —        $ 5,576,051   

September 3, 2013

  $ 199,038,413      $ 4,097,386      $ —        $ 106,000      $ 194,941,027      $ 1,784,734      $ —        $ 5,988,120   

October 4, 2013

  $ 194,941,027      $ 9,095,353      $ —          $ 185,845,674      $ 1,608,996      $ —        $ 10,704,349   

November 4, 2013

  $ 185,845,674      $ 4,099,288      $ 305,000      $ 333,333      $ 181,441,387      $ 1,634,167      $ —        $ 6,371,788   

December 4, 2013

  $ 181,441,387      $ 4,282,874      $ —        $ 80,000      $ 177,158,512      $ 1,573,172      $ —        $ 5,936,046   

January 4, 2014

  $ 177,158,512      $ 15,550,742      $ —        $ 12,383      $ 161,607,770      $ 1,555,000      $ —        $ 17,118,125   

February 4, 2014

  $ 161,607,770      $ 3,181,044      $ —        $ 650,659      $ 158,426,727      $ 1,374,048      $ —        $ 5,205,750   

March 4, 2014

  $ 158,426,727      $ 16,715,823      $ —        $ 661,525      $ 141,710,903      $ 1,360,269      $ —        $ 18,737,617   

April 4, 2014

  $ 141,710,903      $ 21,201,286      $ —        $ 3,184,388      $ 120,509,617      $ 1,343,993      $ —        $ 25,729,667   

May 5, 2014

  $ 120,509,617      $ 2,486,716      $ —        $ —        $ 118,022,900      $ 1,115,998      $ —        $ 3,602,715   

June 5, 2014

  $ 118,022,900      $ 2,682,705      $ —        $ 50,000      $ 115,340,195      $ 1,106,807      $ —        $ 3,839,512   

July 7, 2014

  $ 115,340,195      $ 15,969,314      $ —        $ 730,625      $ 99,370,881      $ 1,041,611      $ —        $ 17,741,550   

August 5, 2014

  $ 99,370,881      $ 10,782,732      $ —        $ 286,710      $ 88,588,149      $ 835,575      $ —        $ 11,905,018   

September 5, 2014

  $ 88,588,149      $ 2,596,890      $ —        $ —        $ 85,991,260      $ 916,901      $ —        $ 3,513,791   

October 6, 2014

  $ 85,991,260      $ 2,194,719      $ —        $ —        $ 83,796,541      $ 769,923      $ —        $ 2,964,642   

 

Note Balance - Class A Notes

 

Payment Date

   Beginning Principal      Principal Paydown        Ending Balance      Note Factor  

December 19, 2012

   $ 129,300,000            $ 129,300,000         1.0000   

January 16, 2013

   $ 129,300,000       $ 5,781,416         $ 123,518,584         0.9553   

February 19, 2013

   $ 123,518,584       $ 1,576,420         $ 121,942,164         0.9431   

March 18, 2013

   $ 121,942,164       $ 1,890,769         $ 120,051,395         0.9285   

April 16, 2013

   $ 120,051,395       $ 5,375,752         $ 114,675,643         0.8869   

May 16, 2013

   $ 114,675,643       $ 2,133,032         $ 112,542,610         0.8704   

June 17, 2013

   $ 112,542,610       $ 2,273,025         $ 110,269,586         0.8528   

July 16, 2013

   $ 110,269,586       $ 2,564,881         $ 107,704,704         0.8330   

August 16, 2013

   $ 107,704,704       $ 2,566,154         $ 105,138,550         0.8131   

September 16, 2013

   $ 105,138,550       $ 2,664,395         $ 102,474,155         0.7925   

October 16, 2013

   $ 102,474,155       $ 7,022,406         $ 95,451,748         0.7382   

November 18, 2013

   $ 95,451,748       $ 2,986,838         $ 92,464,911         0.7151   

December 16, 2013

   $ 92,464,911       $ 2,907,939         $ 89,556,972         0.6926   

January 16, 2014

   $ 89,556,972       $ 12,687,162         $ 76,869,810         0.5945   

February 17, 2014

   $ 76,869,810       $ 2,208,438         $ 74,661,372         0.5774   

March 17, 2014

   $ 74,661,372       $ 10,879,422         $ 63,781,949         0.4933   

April 15, 2014

   $ 63,781,949       $ 14,286,693         $ 49,495,256         0.3828   

May 15, 2014

   $ 49,495,256       $ 1,444,243         $ 48,051,013         0.3716   

June 16, 2014

   $ 48,051,013       $ 1,503,724         $ 46,547,289         0.3600   

July 15, 2014

   $ 46,547,289       $ 11,099,622         $ 35,447,667         0.2742   

August 15, 2014

   $ 35,447,667       $ 6,259,374         $ 29,188,294         0.2257   

September 15, 2014

   $ 29,188,294       $ 1,237,193         $ 27,951,101         0.2162   

October 15, 2014

   $ 27,951,101       $ 1,128,989         $ 26,822,112         0.2074   

 

* Principal Collections can potentially include fees and other payments

 

Hercules Capital Funding Trust 2012-1   
Monthly Servicing Report for the Collection Period Ending October 6, 2014    Page 7 of 9


Pool Balance - End of Period

 

OBLIGOR
NAME
Dec-12   Jan-13   Feb-13   Mar-13   Apr-13   May-13   Jun-13   Jul-13   Aug-13   Sep-13   Oct-13   Nov-13   Dec-13  

OBLIGOR #1

$ 8,172,429    $ 7,861,069    $ 7,547,429    $ 7,226,148    $ 6,907,861    $ 6,585,614    $ 6,262,639    $ 5,935,821    $ 5,608,090    $ 5,277,960    $ 4,944,167    $ 4,609,177    $ 4,270,648   

OBLIGOR #2

$ 5,052,335    $ 4,572,047    $ 4,087,313    $ 3,594,431    $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #3

$ 9,230,769    $ 8,846,154    $ 8,461,538    $ 8,076,923    $ 7,692,308    $ 7,307,692    $ 6,923,077    $ 6,538,462    $ 6,153,846    $ 5,769,231    $ 5,384,615    $ 5,000,000    $ 4,615,385   

OBLIGOR #4

$ 11,292,550    $ 10,871,709    $ 10,447,046    $ 10,009,339    $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #5

$ 12,555,645    $ 12,555,645    $ 12,555,645    $ 12,555,645    $ 12,198,390    $ 11,833,442    $ 11,468,786    $ 11,096,603    $ 10,724,397    $ 10,348,377    $ 9,965,083    $ 9,581,282    $ 9,190,380   

OBLIGOR #6

$ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ —      $ —      $ —     

OBLIGOR #7

$ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673   

OBLIGOR #8

$ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 14,553,670    $ 14,107,639    $ 13,654,431   

OBLIGOR #9

$ 3,822,324    $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #10

$ 1,000,000    $ 1,000,000    $ 1,000,000    $ 966,343    $ 933,243    $ 899,586    $ 865,897    $ 831,664    $ 797,375    $ 762,784    $ 727,670    $ 692,464    $ 656,749   

OBLIGOR #11

$ 3,758,211    $ 3,563,606    $ 3,367,447    $ 3,167,242    $ 2,968,011    $ 2,766,494    $ 2,564,157    $ 2,359,611    $ 2,154,121    $ 1,947,038    $ 1,737,864    $ 1,527,555    $ 1,315,235   

OBLIGOR #12

$ 8,000,000    $ 8,000,000    $ 8,000,000    $ 8,000,000    $ 7,703,704    $ 7,407,407    $ 7,111,111    $ 6,814,815    $ 6,518,519    $ 6,222,222    $ 5,925,926    $ 5,629,630    $ 5,333,333   

OBLIGOR #13

$ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000   

OBLIGOR #14

$ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000   

OBLIGOR #15

$ 5,000,000    $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 4,880,240    $ 4,760,835    $ 4,640,408    $ 4,517,666    $ 4,395,155    $ 4,270,380   

OBLIGOR #16

$ 15,000,000    $ 15,000,000    $ 14,573,778    $ 14,128,579    $ 13,693,352    $ 13,249,064    $ 12,804,749    $ 12,351,575    $ 11,897,986    $ 11,439,710    $ 10,972,886    $ 10,505,051    $ 10,028,879   

OBLIGOR #17

$ 10,000,000    $ 10,000,000    $ 10,000,000    $ 9,711,183    $ 9,428,358    $ 9,140,353    $ 8,852,490    $ 8,559,565    $ 8,266,576    $ 7,971,001    $ 7,670,547    $ 7,369,711    $ 7,064,121   

OBLIGOR #18

$ 13,749,133    $ 13,749,133    $ 13,749,133    $ 13,749,133    $ 11,749,133    $ 11,389,840    $ 11,030,718    $ 10,665,363    $ 10,299,863    $ 9,931,335    $ 9,556,937    $ 9,249,519    $ 8,801,783   

OBLIGOR #18

$ 2,000,000    $ 2,000,000    $ 2,000,000    $ 2,000,000    $ 2,000,000    $ 2,000,000    $ 2,000,000    $ 2,000,000    $ 2,000,000   

OBLIGOR #19

$ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 9,711,251    $ 9,422,842    $ 9,131,539    $ 4,031,539    $ —      $ —     

OBLIGOR #20

$ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000   

OBLIGOR #21

$ 5,000,000    $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 4,845,939    $ 4,690,274    $ 4,534,612    $ 4,377,391    $ 4,220,113    $ 4,062,022    $ 3,902,438    $ 3,742,706    $ 3,581,525   

OBLIGOR #21

$ 5,000,000    $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 4,851,509    $ 4,700,720    $ 4,549,975    $ 4,396,987    $ 4,243,953    $ 4,089,765    $ 3,933,422    $ 3,776,895    $ 3,618,270   

OBLIGOR #22

$ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 5,833,332    $ 5,666,665   

OBLIGOR #23

$ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000   

OBLIGOR #24

$ 8,283,251    $ 8,156,689    $ 8,030,126    $ 7,903,564    $ 7,777,001    $ 7,608,251    $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #25

$ 8,000,000    $ 8,000,000    $ 8,000,000    $ 8,000,000    $ 8,000,000    $ 7,900,000    $ 7,800,000    $ 7,700,000    $ 7,600,000    $ 7,200,000    $ 7,100,000    $ 7,000,000    $ 6,900,000   

OBLIGOR #25

$ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762   

OBLIGOR #26

$ —      $ —      $ —      $ —      $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000   

OBLIGOR #27

$ —      $ —      $ —      $ —      $ —      $ —      $ 7,283,956    $ 7,063,640    $ 6,843,463    $ 6,621,201    $ 6,394,809    $ 6,168,297    $ 5,937,754   

OBLIGOR #28

$ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000   

OBLIGOR #29

$ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ 3,726,539    $ 3,726,539   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

TOTAL

$ 230,681,409    $ 224,940,814    $ 222,584,218    $ 219,853,292    $ 213,275,244    $ 210,005,171    $ 206,578,601    $ 202,809,422    $ 199,038,413    $ 194,941,027    $ 185,845,674    $ 181,441,387    $ 177,158,512   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

Hercules Capital Funding Trust 2012-1
Monthly Servicing Report for the Collection Period Ending October 6, 2014 Page 8 of 9


Pool Balance - End of Period

 

OBLIGOR NAME   Jan-14     Feb-14     Mar-14     Apr-14     May-14     Jun-14     Jul-14     Aug-14     Sep-14     Oct-14  

OBLIGOR #1

  $ —        $ —        $ —        $ —        $ —        $ —        $ —        $ —        $ —        $ —     

OBLIGOR #2

  $ —        $ —        $ —        $ —        $ —        $ —        $ —        $ —        $ —        $ —     

OBLIGOR #3

  $ 4,230,769      $ 3,846,154      $ 3,461,539      $ 3,076,923      $ 2,692,308      $ 2,307,692      $ 1,923,077      $ 1,538,462      $ 1,153,846      $ 769,231   

OBLIGOR #4

  $ —        $ —        $ —        $ —        $ —        $ —        $ —        $ —        $ —        $ —     

OBLIGOR #5

  $ 8,798,641      $ 8,402,887      $ 7,994,745      $ 7,590,753      $ 7,180,113      $ 6,767,774      $ 6,348,972      $ 5,928,116      $ 5,502,947      $ 5,502,947   

OBLIGOR #6

  $ —        $ —        $ —        $ —        $ —        $ —        $ —        $ —        $ —        $ —     

OBLIGOR #7

  $ 9,761,673      $ 9,761,673      $ 9,761,673      $ 9,761,673      $ 9,761,673      $ 9,761,673      $ —        $ —        $ —        $ —     

OBLIGOR #8

  $ 13,201,238      $ 13,201,238      $ —        $ —        $ —        $ —        $ —        $ —        $ —        $ —     

OBLIGOR #9

  $ —        $ —        $ —        $ —        $ —        $ —        $ —        $ —        $ —        $ —     

OBLIGOR #10

  $ 620,917      $ 584,768      $ 547,801      $ 511,007      $ 473,743      $ 436,295      $ 398,393      $ 360,280      $ 321,831      $ 282,950   

OBLIGOR #11

  $ 1,101,651      $ 886,411      $ 668,839      $ 450,245      $ 229,845      $ —        $ —        $ —        $ —        $ —     

OBLIGOR #12

  $ 5,037,037      $ 4,740,741      $ 4,444,444      $ 4,148,148      $ 3,851,852      $ 3,555,556      $ 3,259,259      $ 2,962,963      $ 2,666,667      $ 2,370,370   

OBLIGOR #13

  $ 10,000,000      $ 10,000,000      $ 10,000,000      $ 10,000,000      $ 10,000,000      $ 10,000,000      $ 10,000,000      $ 10,000,000      $ 10,000,000      $ 10,000,000   

OBLIGOR #14

  $ 14,567,912      $ 14,131,732      $ 13,678,466      $ —        $ —        $ —        $ —        $ —        $ —        $ —     

OBLIGOR #15

  $ 4,145,750      $ 4,020,052      $ 3,889,944      $ 3,762,055      $ 3,632,030      $ 3,501,931      $ 3,369,749      $ 3,237,403      $ 3,103,923      $ 2,968,441   

OBLIGOR #16

  $ 9,551,290      $ 9,068,764      $ 8,572,185      $ 8,572,185      $ 8,396,046      $ 8,198,086      $ 7,995,348      $ 7,793,247      $ 7,589,058      $ 7,380,230   

OBLIGOR #17

  $ 6,757,933      $ 6,449,041      $ 6,131,915      $ 6,131,915      $ 6,131,915      $ 6,131,915      $ 6,131,915      $ 6,131,915      $ 6,131,915      $ 6,131,915   

OBLIGOR #18

  $ 8,420,762      $ 8,420,762      $ 8,420,762      $ 8,420,762      $ 8,420,762      $ 8,420,762      $ 8,420,762      $ 8,420,762      $ 8,034,849      $ 7,643,311   

OBLIGOR #18

  $ 1,913,989      $ 1,913,989      $ 1,913,989      $ 1,913,989      $ 1,913,989      $ 1,913,989      $ 1,913,989      $ 1,913,989      $ 1,826,942      $ 1,738,512   

OBLIGOR #19

  $ —        $ —        $ —        $ —        $ —        $ —        $ —        $ —        $ —        $ —     

OBLIGOR #20

  $ 7,250,000      $ 7,250,000      $ 7,250,000      $ 7,250,000      $ 7,250,000      $ 7,086,741      $ 6,919,112      $ 6,752,163      $ 6,583,353      $ 6,410,291   

OBLIGOR #21

  $ —        $ —        $ —        $ —        $ —        $ —        $ —        $ —        $ —        $ —     

OBLIGOR #21

  $ —        $ —        $ —        $ —        $ —        $ —        $ —        $ —        $ —        $ —     

OBLIGOR #22

  $ 5,499,997      $ 5,333,329      $ 5,166,662      $ 4,999,994      $ 4,833,326      $ 4,666,659      $ 4,499,991      $ 4,333,323      $ 4,166,656      $ 3,999,988   

OBLIGOR #23

  $ 10,000,000      $ 10,000,000      $ 10,000,000      $ 9,706,012      $ 9,407,058      $ 9,108,219      $ 8,804,532      $ 8,500,764      $ 8,194,512      $ 7,883,591   

OBLIGOR #24

  $ —        $ —        $ —        $ —        $ —        $ —        $ —        $ —        $ —       

OBLIGOR #25

  $ 6,800,000      $ 6,700,000      $ 6,600,000      $ 6,500,000      $ 6,400,000      $ 6,300,000      $ 6,200,000      $ 6,200,000      $ 6,200,000      $ 6,200,000   

OBLIGOR #25

  $ 4,514,762      $ 4,514,762      $ 4,514,762      $ 4,514,762      $ 4,514,762      $ 4,514,762      $ 4,514,762      $ 4,514,762      $ 4,514,762      $ 4,514,762   

OBLIGOR #26

  $ 10,000,000      $ 10,000,000      $ 10,000,000      $ 10,000,000      $ 10,000,000      $ 10,000,000      $ 10,000,000      $ 10,000,000      $ 10,000,000      $ 10,000,000   

OBLIGOR #27

  $ 5,706,912      $ 5,473,884      $ 5,233,631      $ —        $ —        $ —        $ —        $ —        $ —        $ —     

OBLIGOR #28

  $ 10,000,000      $ 10,000,000      $ 9,733,008      $ 9,472,654      $ 9,206,940      $ 8,941,603      $ 8,671,020      $ —        $ —        $ —     

OBLIGOR #29

  $ 3,726,539      $ 3,726,539      $ 3,726,539      $ 3,726,539      $ 3,726,539      $ 3,726,539      $ —        $ —        $ —        $ —     
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

TOTAL

  $ 161,607,770      $ 158,426,727      $ 141,710,903      $ 120,509,617      $ 118,022,900      $ 115,340,195      $ 99,370,881      $ 88,588,149      $ 85,991,260      $ 83,796,541   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

Hercules Capital Funding Trust 2012-1
Monthly Servicing Report for the Collection Period Ending October 6, 2014 Page 9 of 9


 

LOGO

Monthly Servicer Report

On Behalf of Hercules Capital Funding Trust 2012-1

Prepared: For the collection period ending November 5, 2014

 

Hercules Capital Funding Trust 2012-1
Monthly Servicing Report for the Collection Period Ending November 5, 2014 Page 1 of 9


Monthly Servicer Report

On Behalf of Hercules Capital Funding Trust 2012-1

 

First Day of Collection Period   October 7, 2014   
Last Day of Collection Period   November 5, 2014   
Payment Date   November 16, 2014   

Available Funds

On each Payment Date, payments on the Notes will be made from the following sources (collectively, “Available Funds”):

 

Obligor payments

Interest Received

$ 725,643   

Principal Received

$ 13,093,317   

Other Obligor Payments

$ 207,672   
  

 

 

 

Obligor payments received with respect to the Loans during the preceding Collection Period;

$ 14,026,631   

Liquidation proceeds received with respect to the Loans during the preceding Collection Period;

$ —     

Interest earned on funds on deposit in the Collection Account, the Interest Reserve Account and the Expense Reserve Account;

Proceeds from any optional sale of Loans;

$ —     

Payments made by the Seller, the Depositor or the Servicer in connection with the required repurchase or purchase of Loans; and

$ —     

Scheduled Payment Advances

$ —     
  

 

 

 

Total Available Funds

$ 14,026,631   
  

 

 

 

 

Hercules Capital Funding Trust 2012-1
Monthly Servicing Report for the Collection Period Ending November 5, 2014 Page 2 of 9


Waterfall Calculations

 

Interest Collections

$ 725,643   

(1) Trustee, the Owner Trustee, the Backup Servicer, the Custodian and the Lockbox Bank, pro rata, any accrued and unpaid fees, expenses and indemnities then due to each of them with rolling twelve-month limit of $500K

US Bank Trustee - Annual Administrative Fee

$ 2,083   

US Bank Back Up Servicer - Annual Administrative Fee

$ 2,000   

US Bank Custodian - Monthly Fees

$ 150   

US Bank Lockbox Fees

$ 251   
    

 

 

 

Total due to Trustee/Owner Trustee/Backup Servicer/Custodian/Lockbox Bank fees/Rating Agency

$ 4,485   

The Servicing Fee shall be equal to the sum of the product of: (i) one-twelfth of 2.00% (or, with respect to the first Collection Period, a fraction equal to the number of days from and including the Cutoff Date through and including January 15, 2013 over 360) and (ii) the Aggregate Outstanding Pool Balance as of the beginning of the related Collection Period.

    

(2) Servicer or any Successor Servicer, any previously unreimbursed Scheduled Payment Advances, Servicing Advances, the Servicing Fee for the related calendar month, any supplemental servicing fees for the related calendar month, any reimbursements for mistaken deposits and other related amounts and certain other amounts due on the Loans that the Servicer is entitled to retain; to the Seller, amounts deposited into the Lockbox Account but not related to interest, principal or extension fees due on the Loans; a one-time servicer engagement fee to the Backup Servicer (upon becoming Successor Servicer) of $125K; and costs and expenses, if any, incurred by the Trustee or by any Successor Servicer (including the Backup Servicer) in connection with the transfer of servicing to any Successor Servicer, which shall not exceed $50K for a servicing transfer to the Backup Servicer or 175K to any other Successor Servicer

$ —     

First day of collection period

  October 7, 2014   

Aggregate Outstanding Pool Balance as of beginning of Collection Period

$ 86,761,183   

Applicable Servicing Fee %

  2.00

Number of Days to calculate

  0.08   
  

 

 

   

Total Servicing Fee

$ 144,602   

(3) Accrued interest due on the Notes, which is the sum of (i) the aggregate amount of interest due and accrued for the related Interest Period on the Notes; and (ii) the excess, if any, of the amount of interest remaining due and payable on the Notes on prior Payment Dates over the amounts in respect of interest actually paid on the Notes on such Payment Dates, plus interest on any such shortfall at the interest rate for the Notes

Outstanding Balance of Notes After Last Payment Date

$ 26,822,112   

Applicable Rate

  3.32
  

 

 

   

Interest due and accrued for related interest period

$ 74,208   

Interest unpaid and due from prior payment date

$ —     

Plus interest on interest unpaid and due from prior payment date

$ —     

Total Accrued Interest Due

$ 74,208   

(4) Principal on the Notes in the amounts required under “Principal Collections” below, but only to the extent not paid in full from Principal Collections

Outstanding Balance of Notes After Last Payment Date

$ 26,822,112   

Target Principal Amortization

$ 6,602,150   

Principal Payments Received from Principal Collections

$ (6,602,150

Principal Payments Received from Reserve Account

$ —     

Principal Payments Received from Interest Collections

$ —      $ —     
  

 

 

   

 

 

 

Note Balance after Principal Payment

$ 20,219,961   

(5) Pay each of the Trustee, the Owner Trustee, the Backup Servicer, any Successor Servicer, the Custodian and the Lockbox Bank, pro rata, any fees and expenses then due to such party that are in excess of the related cap or annual limitation

$ —     

(6) Pay all remaining amounts to the Certificateholder

  502,348   

Principal and Other Obligor Payment Collections

$ 13,300,988   

(1) Pay the amounts under “Interest Collections”, but only to the extent not paid in full from Interest Collections

$ —     

(2) (A) for so long as no Rapid Amortization Event has occurred, to pay principal on the Notes in an amount equal to the excess, if any, of the outstanding principal amount of the Notes over the Borrowing Base and (B) following the occurrence of any Rapid Amortization Event, to pay outstanding principal on the Notes until the outstanding principal balance of the Notes is reduced to zero

$ 6,602,150   

(3) Pay the remaining outstanding principal balance of the Notes on the Legal Final Payment Date

$ —     

(4) The amount on deposit in the Reserve Account is more than the Reserve Account Required Balance, to the Certificateholder, the balance in the Reserve Account that is in excess of 7.5% of the Aggregate Outstanding Principal Balance of the Notes after taking into account paydowns on the Notes made on the applicable Payment Date

$ 495,161   

(5) Pay the amounts referred to in clause (5) under “Interest Collections” above, but only to the extent not paid in full from Interest Collections;

$ —     

(6) Pay all remaining amounts to the Certificateholder

$ 7,193,999   

 

Hercules Capital Funding Trust 2012-1
Monthly Servicing Report for the Collection Period Ending November 5, 2014 Page 3 of 9


Borrowing Base and Required Note Payments

As of:

   November 5, 2014   

 

First Day of Collection Period

   October 7, 2014   

Last Day of Collection Period

   November 5, 2014   

Payment Date

   November 16, 2014   

Borrowing Base

              
  

Adjusted Pool Balance

           
     

Pool Balance

         $ 70,703,225   
     

Total Excess Concentration Amount

         $ (38,090,384
     

Outstanding Balance of all Delinquent Loans

         $ —     
     

Outstanding Balance of all Restructured Loans

         $ —     
              

 

 

 
Total Adjusted Pool Balance $ 32,612,841   
Advance Rate   62.0
              

 

 

 
$ 20,219,961   
              

 

 

 

Borrowing Base

Beginning Outstanding Note Balance

$ 26,822,112   

Rapid Amortization

$ —     
              

 

 

 

Required Payment on Notes

$ 6,602,150   
Rapid Amortization Event

Restructured Loan

Loan that has been, or in accordance with the Credit Monitoring Guidelines is required to be, modified or restructured to extend the maturity thereof or reduce the amount (other than by reason of the repayment thereof) or extend the time for payment of principal thereof, in each case as a result of the Obligor’s material financial underperformance, distress or default. Such Loan shall cease to be a Restructured Loan when such Loan has been performing for at least six consecutive months since the date the most recent modification was made and is no longer required to be so modified or restructured in accordance with the Credit Monitoring Guidelines.

 

Reporting Date

   Obligor Name    Modification Date    Loan Balance    Total Restructured Amt
in last 6 months
           
           
           

 

Delinquent Loan

              
   Loan which is more than forty-five (45) days delinquent in payment; provided, however, that any Loan that has been substituted and replaced by the Issuer with a Substitute Loan pursuant to Section 2.04 and Section 2.06 will not be deemed to be a Delinquent Loan.   

 

     Days of Delinquency         
     31 to 59      60 to 89      90+      Total  

N/A

   $ —         $ —         $ —         $ —     

Total

   $ —         $ —         $ —         $ —     

 

Defaulted Loan

              
   Loan in the Collateral as to which the earliest of the following has occurred: (i) any payment, or any part of any payment in excess of 90%, due under such Loan (taking into account any waivers or modifications granted by the Servicer on such Loan) has become 120 days or more delinquent, whether or not the Servicer has foreclosed upon the related Collateral or if the related obligor is insolvent or has declared bankruptcy and the Loan is more than 180 days delinquent; (ii) the Servicer has foreclosed upon and sold the related collateral; (iii) 90 days has elapsed since the related Collateral was foreclosed upon by the Servicer; or (iv) the Servicer has determined in accordance with its customary practices that the Loan is uncollectible or the final recoverable amounts have been received.   

 

Reporting Date

   Obligor Name    Defaulted Date    Loan Balance    Days of Default

N/A

           

 

Aggregate Outstanding Principal Balance of the Notes exceeds the Borrowing Base for a period of three (3) consecutive calendar months   

 

Date

   Ending
Outstanding
Note
Balances
   Borrowing
Base
   Balance >
Borrowing
Base
    

N/A

              

 

Loans in the Collateral consist of Loans to 10 or fewer Obligors

              

 

     Obligor Count    Count >
10
    

N/A

        

 

An Event of Default

              

 

           

N/A

  

 

Hercules Capital Funding Trust 2012-1   
Monthly Servicing Report for the Collection Period Ending November 5, 2014    Page 4 of 9


Pool Balance, Note and General Reserve Schedules

 

Pool Balance

   

Note Balances

 

Ending

Collection

Period Date

  Beginning
Pool Balance
    Ending Pool
Balance
   

Payment

Date

  Beginning
Balance
    Principal
Payment
    Ending
Balance
    Note
Factor
    Note
Interest
Paid
    Cumulative
Interest
Paid
 

January 4, 2013

  $ 230,681,409      $ 224,940,814      January 16, 2013     129,300,000        5,781,416        123,518,584        0.9553        321,957        321,957   

February 4, 2013

  $ 224,940,814      $ 222,584,218      February 19, 2013     123,518,584        1,576,420        121,942,164        0.9431        375,908        697,865   

March 4, 2013

  $ 222,584,218      $ 219,853,292      March 18, 2013     121,942,164        1,890,769        120,051,395        0.9285        337,373        1,035,239   

April 4, 2013

  $ 219,853,292      $ 213,275,244      April 16, 2013     120,051,395        5,375,752        114,675,643        0.8869        332,142        1,367,381   

May 4, 2013

  $ 213,275,244      $ 210,005,171      May 16, 2013     114,675,643        2,133,032        112,542,610        0.8704        317,269        1,684,650   

June 4, 2013

  $ 210,005,171      $ 206,578,601      June 17, 2013     112,542,610        2,273,025        110,269,586        0.8528        311,368        1,996,018   

July 3, 2013

  $ 206,578,601      $ 202,809,422      July 16, 2013     110,269,586        2,564,881        107,704,704        0.8330        305,079        2,301,097   

August 2, 2013

  $ 202,809,422      $ 199,038,413      August 16, 2013     107,704,704        2,566,154        105,138,550        0.8131        297,983        2,599,080   

September 3, 2013

  $ 199,038,413      $ 194,941,027      September 16, 2013     105,138,550        2,664,395        102,474,155        0.7925        290,883        2,889,963   

October 4, 2013

  $ 194,941,027      $ 185,845,674      October 16, 2013     102,474,155        7,022,406        95,451,748        0.7382        283,059        3,173,022   

November 4, 2013

  $ 185,845,674      $ 181,441,387      November 18, 2013     95,451,748        2,986,838        92,464,911        0.7151        264,083        3,437,106   

December 4, 2013

  $ 181,441,387      $ 177,158,512      December 16, 2013     92,464,911        2,907,939        89,556,972        0.6926        255,820        3,692,925   

January 4, 2014

  $ 177,158,512      $ 161,607,770      January 16, 2014     89,556,972        12,687,162        76,869,810        0.5945        247,774        3,940,699   

February 4, 2014

  $ 161,607,770      $ 158,426,727      February 17, 2014     76,869,810        2,208,438        74,661,372        0.5774        212,673        4,153,373   

March 4, 2014

  $ 158,426,727      $ 141,710,903      March 17, 2014     74,661,372        10,879,422        63,781,949        0.4933        206,563        4,359,936   

April 4, 2014

  $ 141,710,903      $ 120,509,617      April 15, 2014     63,781,949        14,286,693        49,495,256        0.3828        176,463        4,536,399   

May 5, 2014

  $ 120,509,617      $ 118,022,900      May 15, 2014     49,495,256        1,444,243        48,051,013        0.3716        136,937        4,673,336   

June 5, 2014

  $ 118,022,900      $ 115,340,195      June 16, 2014     48,051,013        1,503,724        46,547,289        0.3600        132,941        4,806,277   

July 7, 2014

  $ 115,340,195      $ 99,370,881      July 15, 2014     46,547,289        11,099,622        35,447,667        0.2742        128,781        4,935,058   

August 5, 2014

  $ 99,370,881      $ 88,588,149      August 15, 2014     35,447,667        6,259,374        29,188,294        0.2257        98,072        5,033,130   

September 5, 2014

  $ 88,588,149      $ 85,991,260      September 15, 2014     29,188,294        1,237,193        27,951,101        0.2162        80,754        5,113,884   

October 6, 2014

  $ 85,991,260      $ 83,796,541      October 15, 2014     27,951,101        1,128,989        26,822,112        0.2074        77,331        5,191,215   

November 5, 2014

  $ 83,796,541      $ 70,703,225      November 16, 2014     26,822,112        6,602,150        20,219,961        0.1564        74,208        5,265,423   

 

General Reserve Account

 

Payment Date

  Beginning
Balance
    Plus: Required
Deposits
    Plus:
Interest
    Less: Excess over
General Reserve
Account Required
Balance
    Less:
Withdrawal
for Insufficient
Funds for
Required
Payments
    Less:
Withdrawal due
to Event of
Default
    Ending Balance     Reserve Balance
as a % of the
Outstanding
Principal Balance

of the Notes
 

January 16, 2013

  $ —        $ —        $ —        $ —        $ —        $ —        $ —          0.00

February 19, 2013

  $ —        $ 390,088      $ —        $ —        $ —        $ —        $ 390,088        0.32

March 16, 2013

  $ 390,088      $ 420,079      $ —        $ —        $ —        $ —        $ 810,167        0.66

April 16, 2013

  $ 810,167      $ —        $ —        $ —        $ 243,520      $ —        $ 566,646        0.47

May 16, 2013

  $ 566,646      $ 568,520      $ —        $ —        $ —        $ —        $ 1,135,167        0.99

June 17, 2013

  $ 1,135,167      $ 522,647      $ —        $ —        $ —        $ —        $ 1,657,814        1.47

July 16, 2013

  $ 1,657,814      $ 602,149      $ —        $ —        $ —        $ —        $ 2,259,963        2.05

August 16, 2013

  $ 2,259,963      $ 602,427      $ —        $ —        $ —        $ —        $ 2,862,390        2.66

September 16, 2013

  $ 2,862,390      $ 769,496      $ —        $ —        $ —        $ —        $ 3,631,886        3.45

October 16, 2013

  $ 3,631,886      $ 1,036,473      $ —        $ —        $ —        $ —        $ 4,668,359        4.56

November 18, 2013

  $ 4,668,359      $ 875,391      $ —        $ —        $ —        $ —        $ 5,543,750        5.81

December 16, 2013

  $ 5,543,750      $ 727,468      $ —        $ —        $ —        $ —        $ 6,271,218        6.78

January 16, 2014

  $ 6,271,218      $ —        $ —        $ 505,982      $ —        $ —        $ 5,765,236        7.50

February 17, 2014

  $ 5,765,236      $ —        $ —        $ 165,633      $ —        $ —        $ 5,599,603        7.50

March 17, 2014

  $ 5,599,603      $ —        $ —        $ 815,957      $ —        $ —        $ 4,783,646        7.50

April 15, 2014

  $ 4,783,646      $ —        $ —        $ 1,071,502      $ —        $ —        $ 3,712,144        7.50

May 15, 2014

  $ 3,712,144      $ —        $ —        $ 108,318      $ —        $ —        $ 3,603,826        7.50

June 16, 2014

  $ 3,603,826      $ —        $ —        $ 112,779      $ —        $ —        $ 3,491,047        7.50

July 15, 2014

  $ 3,491,047      $ —        $ —        $ 832,472      $ —        $ —        $ 2,658,575        7.50

August 15, 2014

  $ 2,658,575      $ —        $ —        $ 469,453      $ —        $ —        $ 2,189,122        7.50

September 15, 2014

  $ 2,189,122      $ —        $ —        $ 92,789      $ —        $ —        $ 2,096,333        7.50

October 15, 2014

  $ 2,096,333      $ —        $ —        $ 84,674      $ —        $ —        $ 2,011,658        7.50

November 16, 2014

  $ 2,011,658      $ —        $ —        $ 495,161      $ —        $ —        $ 1,516,497        7.50

 

Hercules Capital Funding Trust 2012-1   
Monthly Servicing Report for the Collection Period Ending November 5, 2014    Page 5 of 9


Pool Balance (by Obligor) Concentration

 

Obligor Count

  13   

 

Loan Status

   Loan Balance      % of
Loan Balance
 

Current

   $ 70,703,225         100

Restructured

   $ —           0

Defaulted

   $ —           0

Delinquent

   $ —           0
  

 

 

    

 

 

 

TOTAL

$ 70,703,225      100
  

 

 

    

 

 

 

 

Concentration Limits percentage of Loan Balance

  5   23   44

Concentration Limits in Dollars

$ 3,535,161    $ 16,261,742    $ 31,109,419   
     Single Obligor     Top Five     Top Ten  

Excess Concentration

      

OBLIGOR #25

   $ (7,179,601    

OBLIGOR #13

   $ (6,464,839    

OBLIGOR #26

   $ (6,098,422    

OBLIGOR #18

   $ (5,365,262    

OBLIGOR #16

   $ (3,636,612   $ (30,158,800  

OBLIGOR #20

   $ (2,702,507    

OBLIGOR #17

   $ (2,596,754    

OBLIGOR #5

   $ (1,967,786     $ (38,090,384
  

 

 

   

 

 

   

 

 

 

Total

$ (36,011,783 $ (30,158,800 $ (38,090,384
  

 

 

   

 

 

   

 

 

 

 

Total Excess Concentration Amount

$ (38,090,384

Adjusted Pool Balance

$ 32,612,841   

 

Hercules Capital Funding Trust 2012-1
Monthly Servicing Report for the Collection Period Ending November 5, 2014 Page 6 of 9


Pool Balance and Note Schedules

 

Pool Balance

 

Ending Collection

Period Date

  Beginning Principal     Principal Collections*     Adjustment For
Substitution
    Other Collections     Ending Balance     Collateral Interest
Received
    Other
Collections
    Total Collections  

December 19, 2012

  $ 230,681,409      $ —        $ —          $ 230,681,409      $ —        $ —        $ —     

January 4, 2013

  $ 230,681,409      $ 5,740,595      $ —          $ 224,940,814      $ 2,084,457      $ —        $ 7,825,052   

February 4, 2013

  $ 224,940,814      $ 2,356,596      $ —          $ 222,584,218      $ 1,981,727      $ —        $ 4,338,323   

March 4, 2013

  $ 222,584,218      $ 2,730,927      $ —          $ 219,853,292      $ 1,770,085      $ —        $ 4,501,012   

April 4, 2013

  $ 219,853,292      $ 3,900,558      $ 2,677,489        $ 213,275,244      $ 1,935,178      $ 18,050      $ 5,853,787   

May 4, 2013

  $ 213,275,244      $ 3,270,073      $ —          $ 210,005,171      $ 1,846,576      $ —        $ 5,116,649   

June 4, 2013

  $ 210,005,171      $ 3,318,319      $ 108,251        $ 206,578,601      $ 1,977,416      $ —        $ 5,295,735   

July 3, 2013

  $ 206,578,601      $ 3,769,179      $ —          $ 202,809,422      $ 1,781,618      $ —        $ 5,550,798   

August 2, 2013

  $ 202,809,422      $ 3,771,009      $ —          $ 199,038,413      $ 1,805,042      $ —        $ 5,576,051   

September 3, 2013

  $ 199,038,413      $ 4,097,386      $ —        $ 106,000      $ 194,941,027      $ 1,784,734      $ —        $ 5,988,120   

October 4, 2013

  $ 194,941,027      $ 9,095,353      $ —          $ 185,845,674      $ 1,608,996      $ —        $ 10,704,349   

November 4, 2013

  $ 185,845,674      $ 4,099,288      $ 305,000      $ 333,333      $ 181,441,387      $ 1,634,167      $ —        $ 6,371,788   

December 4, 2013

  $ 181,441,387      $ 4,282,874      $ —        $ 80,000      $ 177,158,512      $ 1,573,172      $ —        $ 5,936,046   

January 4, 2014

  $ 177,158,512      $ 15,550,742      $ —        $ 12,383      $ 161,607,770      $ 1,555,000      $ —        $ 17,118,125   

February 4, 2014

  $ 161,607,770      $ 3,181,044      $ —        $ 650,659      $ 158,426,727      $ 1,374,048      $ —        $ 5,205,750   

March 4, 2014

  $ 158,426,727      $ 16,715,823      $ —        $ 661,525      $ 141,710,903      $ 1,360,269      $ —        $ 18,737,617   

April 4, 2014

  $ 141,710,903      $ 21,201,286      $ —        $ 3,184,388      $ 120,509,617      $ 1,343,993      $ —        $ 25,729,667   

May 5, 2014

  $ 120,509,617      $ 2,486,716      $ —        $ —        $ 118,022,900      $ 1,115,998      $ —        $ 3,602,715   

June 5, 2014

  $ 118,022,900      $ 2,682,705      $ —        $ 50,000      $ 115,340,195      $ 1,106,807      $ —        $ 3,839,512   

July 7, 2014

  $ 115,340,195      $ 15,969,314      $ —        $ 730,625      $ 99,370,881      $ 1,041,611      $ —        $ 17,741,550   

August 5, 2014

  $ 99,370,881      $ 10,782,732      $ —        $ 286,710      $ 88,588,149      $ 835,575      $ —        $ 11,905,018   

September 5, 2014

  $ 88,588,149      $ 2,596,890      $ —        $ —        $ 85,991,260      $ 916,901      $ —        $ 3,513,791   

October 6, 2014

  $ 85,991,260      $ 2,194,719      $ —        $ —        $ 83,796,541      $ 769,923      $ —        $ 2,964,642   

November 5, 2014

  $ 83,796,541      $ 13,093,317      $ —        $ 207,672      $ 70,703,225      $ 725,643      $ —        $ 14,026,631   

 

Note Balance - Class A Notes

 

Payment Date

   Beginning Principal      Principal Paydown        Ending Balance      Note Factor  

December 19, 2012

   $ 129,300,000            $ 129,300,000         1.0000   

January 16, 2013

   $ 129,300,000       $ 5,781,416         $ 123,518,584         0.9553   

February 19, 2013

   $ 123,518,584       $ 1,576,420         $ 121,942,164         0.9431   

March 18, 2013

   $ 121,942,164       $ 1,890,769         $ 120,051,395         0.9285   

April 16, 2013

   $ 120,051,395       $ 5,375,752         $ 114,675,643         0.8869   

May 16, 2013

   $ 114,675,643       $ 2,133,032         $ 112,542,610         0.8704   

June 17, 2013

   $ 112,542,610       $ 2,273,025         $ 110,269,586         0.8528   

July 16, 2013

   $ 110,269,586       $ 2,564,881         $ 107,704,704         0.8330   

August 16, 2013

   $ 107,704,704       $ 2,566,154         $ 105,138,550         0.8131   

September 16, 2013

   $ 105,138,550       $ 2,664,395         $ 102,474,155         0.7925   

October 16, 2013

   $ 102,474,155       $ 7,022,406         $ 95,451,748         0.7382   

November 18, 2013

   $ 95,451,748       $ 2,986,838         $ 92,464,911         0.7151   

December 16, 2013

   $ 92,464,911       $ 2,907,939         $ 89,556,972         0.6926   

January 16, 2014

   $ 89,556,972       $ 12,687,162         $ 76,869,810         0.5945   

February 17, 2014

   $ 76,869,810       $ 2,208,438         $ 74,661,372         0.5774   

March 17, 2014

   $ 74,661,372       $ 10,879,422         $ 63,781,949         0.4933   

April 15, 2014

   $ 63,781,949       $ 14,286,693         $ 49,495,256         0.3828   

May 15, 2014

   $ 49,495,256       $ 1,444,243         $ 48,051,013         0.3716   

June 16, 2014

   $ 48,051,013       $ 1,503,724         $ 46,547,289         0.3600   

July 15, 2014

   $ 46,547,289       $ 11,099,622         $ 35,447,667         0.2742   

August 15, 2014

   $ 35,447,667       $ 6,259,374         $ 29,188,294         0.2257   

September 15, 2014

   $ 29,188,294       $ 1,237,193         $ 27,951,101         0.2162   

October 15, 2014

   $ 27,951,101       $ 1,128,989         $ 26,822,112         0.2074   

November 16, 2014

   $ 26,822,112       $ 6,602,150         $ 20,219,961         0.1564   

 

* Principal Collections can potentially include fees and other payments

 

Hercules Capital Funding Trust 2012-1   
Monthly Servicing Report for the Collection Period Ending November 5, 2014    Page 7 of 9


Pool Balance - End of Period

 

OBLIGOR NAME Dec-12   Jan-13   Feb-13   Mar-13   Apr-13   May-13   Jun-13   Jul-13   Aug-13   Sep-13   Oct-13   Nov-13   Dec-13  

OBLIGOR #1

$ 8,172,429    $ 7,861,069    $ 7,547,429    $ 7,226,148    $ 6,907,861    $ 6,585,614    $ 6,262,639    $ 5,935,821    $ 5,608,090    $ 5,277,960    $ 4,944,167    $ 4,609,177    $ 4,270,648   

OBLIGOR #2

$ 5,052,335    $ 4,572,047    $ 4,087,313    $ 3,594,431    $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #3

$ 9,230,769    $ 8,846,154    $ 8,461,538    $ 8,076,923    $ 7,692,308    $ 7,307,692    $ 6,923,077    $ 6,538,462    $ 6,153,846    $ 5,769,231    $ 5,384,615    $ 5,000,000    $ 4,615,385   

OBLIGOR #4

$ 11,292,550    $ 10,871,709    $ 10,447,046    $ 10,009,339    $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #5

$ 12,555,645    $ 12,555,645    $ 12,555,645    $ 12,555,645    $ 12,198,390    $ 11,833,442    $ 11,468,786    $ 11,096,603    $ 10,724,397    $ 10,348,377    $ 9,965,083    $ 9,581,282    $ 9,190,380   

OBLIGOR #6

$ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ —      $ —      $ —     

OBLIGOR #7

$ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673   

OBLIGOR #8

$ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 14,553,670    $ 14,107,639    $ 13,654,431   

OBLIGOR #9

$ 3,822,324    $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #10

$ 1,000,000    $ 1,000,000    $ 1,000,000    $ 966,343    $ 933,243    $ 899,586    $ 865,897    $ 831,664    $ 797,375    $ 762,784    $ 727,670    $ 692,464    $ 656,749   

OBLIGOR #11

$ 3,758,211    $ 3,563,606    $ 3,367,447    $ 3,167,242    $ 2,968,011    $ 2,766,494    $ 2,564,157    $ 2,359,611    $ 2,154,121    $ 1,947,038    $ 1,737,864    $ 1,527,555    $ 1,315,235   

OBLIGOR #12

$ 8,000,000    $ 8,000,000    $ 8,000,000    $ 8,000,000    $ 7,703,704    $ 7,407,407    $ 7,111,111    $ 6,814,815    $ 6,518,519    $ 6,222,222    $ 5,925,926    $ 5,629,630    $ 5,333,333   

OBLIGOR #13

$ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000   

OBLIGOR #14

$ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000   

OBLIGOR #15

$ 5,000,000    $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 4,880,240    $ 4,760,835    $ 4,640,408    $ 4,517,666    $ 4,395,155    $ 4,270,380   

OBLIGOR #16

$ 15,000,000    $ 15,000,000    $ 14,573,778    $ 14,128,579    $ 13,693,352    $ 13,249,064    $ 12,804,749    $ 12,351,575    $ 11,897,986    $ 11,439,710    $ 10,972,886    $ 10,505,051    $ 10,028,879   

OBLIGOR #17

$ 10,000,000    $ 10,000,000    $ 10,000,000    $ 9,711,183    $ 9,428,358    $ 9,140,353    $ 8,852,490    $ 8,559,565    $ 8,266,576    $ 7,971,001    $ 7,670,547    $ 7,369,711    $ 7,064,121   

OBLIGOR #18

$ 13,749,133    $ 13,749,133    $ 13,749,133    $ 13,749,133    $ 11,749,133    $ 11,389,840    $ 11,030,718    $ 10,665,363    $ 10,299,863    $ 9,931,335    $ 9,556,937    $ 9,249,519    $ 8,801,783   

OBLIGOR #18

$ 2,000,000    $ 2,000,000    $ 2,000,000    $ 2,000,000    $ 2,000,000    $ 2,000,000    $ 2,000,000    $ 2,000,000    $ 2,000,000   

OBLIGOR #19

$ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 9,711,251    $ 9,422,842    $ 9,131,539    $ 4,031,539    $ —      $ —     

OBLIGOR #20

$ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000   

OBLIGOR #21

$ 5,000,000    $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 4,845,939    $ 4,690,274    $ 4,534,612    $ 4,377,391    $ 4,220,113    $ 4,062,022    $ 3,902,438    $ 3,742,706    $ 3,581,525   

OBLIGOR #21

$ 5,000,000    $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 4,851,509    $ 4,700,720    $ 4,549,975    $ 4,396,987    $ 4,243,953    $ 4,089,765    $ 3,933,422    $ 3,776,895    $ 3,618,270   

OBLIGOR #22

$ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 5,833,332    $ 5,666,665   

OBLIGOR #23

$ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000   

OBLIGOR #24

$ 8,283,251    $ 8,156,689    $ 8,030,126    $ 7,903,564    $ 7,777,001    $ 7,608,251    $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #25

$ 8,000,000    $ 8,000,000    $ 8,000,000    $ 8,000,000    $ 8,000,000    $ 7,900,000    $ 7,800,000    $ 7,700,000    $ 7,600,000    $ 7,200,000    $ 7,100,000    $ 7,000,000    $ 6,900,000   

OBLIGOR #25

$ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762   

OBLIGOR #26

$ —      $ —      $ —      $ —      $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000   

OBLIGOR #27

$ —      $ —      $ —      $ —      $ —      $ —      $ 7,283,956    $ 7,063,640    $ 6,843,463    $ 6,621,201    $ 6,394,809    $ 6,168,297    $ 5,937,754   

OBLIGOR #28

$ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000   

OBLIGOR #29

$ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ 3,726,539    $ 3,726,539   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

TOTAL

$ 230,681,409    $ 224,940,814    $ 222,584,218    $ 219,853,292    $ 213,275,244    $ 210,005,171    $ 206,578,601    $ 202,809,422    $ 199,038,413    $ 194,941,027    $ 185,845,674    $ 181,441,387    $ 177,158,512   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

 

Hercules Capital Funding Trust 2012-1
Monthly Servicing Report for the Collection Period Ending November 5, 2014 Page 8 of 9


Pool Balance - End of Period

 

OBLIGOR NAME Jan-14   Feb-14   Mar-14   Apr-14   May-14   Jun-14   Jul-14   Aug-14   Sep-14   Oct-14   Nov-14  

OBLIGOR #1

$ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #2

$ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #3

$ 4,230,769    $ 3,846,154    $ 3,461,539    $ 3,076,923    $ 2,692,308    $ 2,307,692    $ 1,923,077    $ 1,538,462    $ 1,153,846    $ 769,231    $ 384,616   

OBLIGOR #4

$ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #5

$ 8,798,641    $ 8,402,887    $ 7,994,745    $ 7,590,753    $ 7,180,113    $ 6,767,774    $ 6,348,972    $ 5,928,116    $ 5,502,947    $ 5,502,947    $ 5,502,947   

OBLIGOR #6

$ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #7

$ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ —      $ —      $ —      $ —      $ —     

OBLIGOR #8

$ 13,201,238    $ 13,201,238    $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #9

$ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #10

$ 620,917    $ 584,768    $ 547,801    $ 511,007    $ 473,743    $ 436,295    $ 398,393    $ 360,280    $ 321,831    $ 282,950    $ 243,819   

OBLIGOR #11

$ 1,101,651    $ 886,411    $ 668,839    $ 450,245    $ 229,845    $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #12

$ 5,037,037    $ 4,740,741    $ 4,444,444    $ 4,148,148    $ 3,851,852    $ 3,555,556    $ 3,259,259    $ 2,962,963    $ 2,666,667    $ 2,370,370    $ 2,074,074   

OBLIGOR #13

$ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000   

OBLIGOR #14

$ 14,567,912    $ 14,131,732    $ 13,678,466    $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #15

$ 4,145,750    $ 4,020,052    $ 3,889,944    $ 3,762,055    $ 3,632,030    $ 3,501,931    $ 3,369,749    $ 3,237,403    $ 3,103,923    $ 2,968,441    $ 2,832,656   

OBLIGOR #16

$ 9,551,290    $ 9,068,764    $ 8,572,185    $ 8,572,185    $ 8,396,046    $ 8,198,086    $ 7,995,348    $ 7,793,247    $ 7,589,058    $ 7,380,230    $ 7,171,773   

OBLIGOR #17

$ 6,757,933    $ 6,449,041    $ 6,131,915    $ 6,131,915    $ 6,131,915    $ 6,131,915    $ 6,131,915    $ 6,131,915    $ 6,131,915    $ 6,131,915    $ 6,131,915   

OBLIGOR #18

$ 8,420,762    $ 8,420,762    $ 8,420,762    $ 8,420,762    $ 8,420,762    $ 8,420,762    $ 8,420,762    $ 8,420,762    $ 8,034,849    $ 7,643,311    $ 7,250,620   

OBLIGOR #18

$ 1,913,989    $ 1,913,989    $ 1,913,989    $ 1,913,989    $ 1,913,989    $ 1,913,989    $ 1,913,989    $ 1,913,989    $ 1,826,942    $ 1,738,512    $ 1,649,803   

OBLIGOR #19

$ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #20

$ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,086,741    $ 6,919,112    $ 6,752,163    $ 6,583,353    $ 6,410,291    $ 6,237,669   

OBLIGOR #21

$ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #21

$ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #22

$ 5,499,997    $ 5,333,329    $ 5,166,662    $ 4,999,994    $ 4,833,326    $ 4,666,659    $ 4,499,991    $ 4,333,323    $ 4,166,656    $ 3,999,988    $ 874,988   

OBLIGOR #23

$ 10,000,000    $ 10,000,000    $ 10,000,000    $ 9,706,012    $ 9,407,058    $ 9,108,219    $ 8,804,532    $ 8,500,764    $ 8,194,512    $ 7,883,591    $ —     

OBLIGOR #24

$ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #25

$ 6,800,000    $ 6,700,000    $ 6,600,000    $ 6,500,000    $ 6,400,000    $ 6,300,000    $ 6,200,000    $ 6,200,000    $ 6,200,000    $ 6,200,000    $ 6,200,000   

OBLIGOR #25

$ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762   

OBLIGOR #26

$ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 9,633,583   

OBLIGOR #27

$ 5,706,912    $ 5,473,884    $ 5,233,631    $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #28

$ 10,000,000    $ 10,000,000    $ 9,733,008    $ 9,472,654    $ 9,206,940    $ 8,941,603    $ 8,671,020    $ —      $ —      $ —      $ —     

OBLIGOR #29

$ 3,726,539    $ 3,726,539    $ 3,726,539    $ 3,726,539    $ 3,726,539    $ 3,726,539    $ —      $ —      $ —      $ —      $ —     
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

TOTAL

$ 161,607,770    $ 158,426,727    $ 141,710,903    $ 120,509,617    $ 118,022,900    $ 115,340,195    $ 99,370,881    $ 88,588,149    $ 85,991,260    $ 83,796,541    $ 70,703,225   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

 

Hercules Capital Funding Trust 2012-1
Monthly Servicing Report for the Collection Period Ending November 5, 2014 Page 9 of 9


 

LOGO

Monthly Servicer Report

On Behalf of Hercules Capital Funding Trust 2012-1

Prepared: For the collection period ending December 5, 2014

 

Hercules Capital Funding Trust 2012-1
Monthly Servicing Report for the Collection Period Ending December 5, 2014 Page 1 of 9


Monthly Servicer Report

On Behalf of Hercules Capital Funding Trust 2012-1

 

 

First Day of Collection Period

  November 6, 2014   

Last Day of Collection Period

  December 5, 2014   

Payment Date

  December 16, 2014   

Available Funds

On each Payment Date, payments on the Notes will be made from the following sources (collectively, “Available Funds”):

Obligor payments

Interest Received

$ 853,184   

Principal Received

$ 12,336,305   

Other Obligor Payments

$ 592,263   
  

 

 

 

Obligor payments received with respect to the Loans during the preceding Collection Period;

$ 13,781,752   

Liquidation proceeds received with respect to the Loans during the preceding Collection Period;

$ —     

Interest earned on funds on deposit in the Collection Account, the Interest Reserve Account and the Expense Reserve Account;

Proceeds from any optional sale of Loans;

$ —     

Payments made by the Seller, the Depositor or the Servicer in connection with the required repurchase or purchase of Loans; and

$ —     

Scheduled Payment Advances

$ —     
  

 

 

 

Total Available Funds

$ 13,781,752   
  

 

 

 

 

 

Hercules Capital Funding Trust 2012-1
Monthly Servicing Report for the Collection Period Ending December 5, 2014 Page 2 of 9


Waterfall Calculations

 

 

Interest Collections

$ 853,184   
(1) Trustee, the Owner Trustee, the Backup Servicer, the Custodian and the Lockbox Bank, pro rata, any accrued and unpaid fees, expenses and indemnities then due to each of them with rolling twelve-month limit of $500K

US Bank Trustee—Annual Administrative Fee

$ 2,083   

US Bank Back Up Servicer—Annual Administrative Fee

$ 2,000   

US Bank Custodian—Monthly Fees

$ 150   

US Bank Lockbox Fees

$ 251   
    

 

 

 

Total due to Trustee/Owner Trustee/Backup Servicer/Custodian/Lockbox Bank fees/Rating Agency

$ 4,484   
The Servicing Fee shall be equal to the sum of the product of: (i) one-twelfth of 2.00% (or, with respect to the first Collection Period, a fraction equal to the number of days from and including the Cutoff Date through and including January 15, 2013 over 360) and (ii) the Aggregate Outstanding Pool Balance as of the beginning of the related Collection Period.
(2) Servicer or any Successor Servicer, any previously unreimbursed Scheduled Payment Advances, Servicing Advances, the Servicing Fee for the related calendar month, any supplemental servicing fees for the related calendar month, any reimbursements for mistaken deposits and other related amounts and certain other amounts due on the Loans that the Servicer is entitled to retain; to the Seller, amounts deposited into the Lockbox Account but not related to interest, principal or extension fees due on the Loans; a one-time servicer engagement fee to the Backup Servicer (upon becoming Successor Servicer) of $125K; and costs and expenses, if any, incurred by the Trustee or by any Successor Servicer (including the Backup Servicer) in connection with the transfer of servicing to any Successor Servicer, which shall not exceed $50K for a servicing transfer to the Backup Servicer or 175K to any other Successor Servicer $ —     

First day of collection period

  November 6, 2014   

Aggregate Outstanding Pool Balance as of beginning of Collection Period

$ 84,729,856   

Applicable Servicing Fee %

  2.00

Number of Days to calculate

  0.08   
  

 

 

   

Total Servicing Fee

$ 141,216   
(3) Accrued interest due on the Notes, which is the sum of (i) the aggregate amount of interest due and accrued for the related Interest Period on the Notes; and (ii) the excess, if any, of the amount of interest remaining due and payable on the Notes on prior Payment Dates over the amounts in respect of interest actually paid on the Notes on such Payment Dates, plus interest on any such shortfall at the interest rate for the Notes

Outstanding Balance of Notes After Last Payment Date

$ 20,219,961   

Applicable Rate

  3.32
  

 

 

   

Interest due and accrued for related interest period

$ 55,942   

Interest unpaid and due from prior payment date

$ —     

Plus interest on interest unpaid and due from prior payment date

$ —     

Total Accrued Interest Due

$ 55,942   
(4) Principal on the Notes in the amounts required under “Principal Collections” below, but only to the extent not paid in full from Principal Collections

Outstanding Balance of Notes After Last Payment Date

$ 20,219,961   

Target Principal Amortization

$ 4,170,817   

Principal Payments Received from Principal Collections

$ (4,170,817

Principal Payments Received from Reserve Account

$ —     

Principal Payments Received from Interest Collections

$ —      $ —     
  

 

 

   

 

 

 

Note Balance after Principal Payment

$ 16,049,144   
(5) Pay each of the Trustee, the Owner Trustee, the Backup Servicer, any Successor Servicer, the Custodian and the Lockbox Bank, pro rata, any fees and expenses then due to such party that are in excess of the related cap or annual limitation $ —     

(6) Pay all remaining amounts to the Certificateholder

  651,541   

Principal and Other Obligor Payment Collections

$ 12,928,568   
(1) Pay the amounts under “Interest Collections”, but only to the extent not paid in full from Interest Collections $ —     
(2) (A) for so long as no Rapid Amortization Event has occurred, to pay principal on the Notes in an amount equal to the excess, if any, of the outstanding principal amount of the Notes over the Borrowing Base and (B) following the occurrence of any Rapid Amortization Event, to pay outstanding principal on the Notes until the outstanding principal balance of the Notes is reduced to zero $ 4,170,817   
(3) Pay the remaining outstanding principal balance of the Notes on the Legal Final Payment Date $ —     
(4) The amount on deposit in the Reserve Account is more than the Reserve Account Required Balance, to the Certificateholder, the balance in the Reserve Account that is in excess of 7.5% of the Aggregate Outstanding Principal Balance of the Notes after taking into account paydowns on the Notes made on the applicable Payment Date $ 312,811   
(5) Pay the amounts referred to in clause (5) under “Interest Collections” above, but only to the extent not paid in full from Interest Collections; $ —     
(6) Pay all remaining amounts to the Certificateholder $ 9,070,562   

 

 

Hercules Capital Funding Trust 2012-1
Monthly Servicing Report for the Collection Period Ending December 5, 2014 Page 3 of 9


Borrowing Base and Required Note Payments

As of: December 5, 2014

 

First Day of Collection Period           November 6, 2014   
Last Day of Collection Period           December 5, 2014   
Payment Date           December 16, 2014   
Borrowing Base        
  Adjusted Pool Balance      
     Pool Balance    $ 58,366,920   
     Total Excess Concentration Amount    $ (32,481,203
     Outstanding Balance of all Delinquent Loans    $ —     
     Outstanding Balance of all Restructured Loans    $ —     
       

 

 

 
Total Adjusted Pool Balance $ 25,885,717   
Advance Rate   62.0
       

 

 

 
$ 16,049,144   
       

 

 

 
Borrowing Base
Beginning Outstanding Note Balance $ 20,219,961   
Rapid Amortization $ —     
       

 

 

 
Required Payment on Notes $ 4,170,817   

Rapid Amortization Event

Restructured Loan

Loan that has been, or in accordance with the Credit Monitoring Guidelines is required to be, modified or restructured to extend the maturity thereof or reduce the amount (other than by reason of the repayment thereof) or extend the time for payment of principal thereof, in each case as a result of the Obligor’s material financial underperformance, distress or default. Such Loan shall cease to be a Restructured Loan when such Loan has been performing for at least six consecutive months since the date the most recent modification was made and is no longer required to be so modified or restructured in accordance with the Credit Monitoring Guidelines.

 

Reporting Date

   Obligor Name    Modification Date    Loan Balance    Total Restructured Amt
in last 6 months

Delinquent Loan

Loan which is more than forty-five (45) days delinquent in payment; provided, however, that any Loan that has been substituted and replaced by the Issuer with a Substitute Loan pursuant to Section 2.04 and Section 2.06 will not be deemed to be a Delinquent Loan.

 

     Days of Delinquency  
     31 to 59      60 to 89        90+          Total    

N/A

   $ —         $ —         $ —         $ —     

Total

   $ —         $ —         $ —         $ —     

Defaulted Loan

Loan in the Collateral as to which the earliest of the following has occurred: (i) any payment, or any part of any payment in excess of 90%, due under such Loan (taking into account any waivers or modifications granted by the Servicer on such Loan) has become 120 days or more delinquent, whether or not the Servicer has foreclosed upon the related Collateral or if the related obligor is insolvent or has declared bankruptcy and the Loan is more than 180 days delinquent; (ii) the Servicer has foreclosed upon and sold the related collateral; (iii) 90 days has elapsed since the related Collateral was foreclosed upon by the Servicer; or (iv) the Servicer has determined in accordance with its customary practices that the Loan is uncollectible or the final recoverable amounts have been received.

 

Reporting Date

   Obligor Name    Defaulted Date    Loan Balance    Days of Default

N/A

           

Aggregate Outstanding Principal Balance of the Notes exceeds the Borrowing Base for a period of three (3) consecutive calendar months

 

Date

   Ending Outstanding
Note Balances
   Borrowing Base    Balance > Borrowing
Base

N/A

        

Loans in the Collateral consist of Loans to 10 or fewer Obligors

 

     Obligor Count    Count > 10

N/A

     

An Event of Default

 

N/A

 

 

Hercules Capital Funding Trust 2012-1   
Monthly Servicing Report for the Collection Period Ending December 5, 2014    Page 4 of 9


Pool Balance, Note and General Reserve Schedules

 

 

Pool Balance

     Note Balances  

Ending

Collection

Period Date

   Beginning
Pool Balance
     Ending Pool
Balance
     Payment
Date
     Beginning
Balance
     Principal
Payment
     Ending
Balance
     Note
Factor
     Note
Interest
Paid
     Cumulative
Interest
Paid
 

January 4, 2013

   $ 230,681,409       $ 224,940,814         January 16, 2013         129,300,000         5,781,416         123,518,584         0.9553         321,957         321,957   

February 4, 2013

   $ 224,940,814       $ 222,584,218         February 19, 2013         123,518,584         1,576,420         121,942,164         0.9431         375,908         697,865   

March 4, 2013

   $ 222,584,218       $ 219,853,292         March 18, 2013         121,942,164         1,890,769         120,051,395         0.9285         337,373         1,035,239   

April 4, 2013

   $ 219,853,292       $ 213,275,244         April 16, 2013         120,051,395         5,375,752         114,675,643         0.8869         332,142         1,367,381   

May 4, 2013

   $ 213,275,244       $ 210,005,171         May 16, 2013         114,675,643         2,133,032         112,542,610         0.8704         317,269         1,684,650   

June 4, 2013

   $ 210,005,171       $ 206,578,601         June 17, 2013         112,542,610         2,273,025         110,269,586         0.8528         311,368         1,996,018   

July 3, 2013

   $ 206,578,601       $ 202,809,422         July 16, 2013         110,269,586         2,564,881         107,704,704         0.8330         305,079         2,301,097   

August 2, 2013

   $ 202,809,422       $ 199,038,413         August 16, 2013         107,704,704         2,566,154         105,138,550         0.8131         297,983         2,599,080   

September 3, 2013

   $ 199,038,413       $ 194,941,027         September 16, 2013         105,138,550         2,664,395         102,474,155         0.7925         290,883         2,889,963   

October 4, 2013

   $ 194,941,027       $ 185,845,674         October 16, 2013         102,474,155         7,022,406         95,451,748         0.7382         283,059         3,173,022   

November 4, 2013

   $ 185,845,674       $ 181,441,387         November 18, 2013         95,451,748         2,986,838         92,464,911         0.7151         264,083         3,437,106   

December 4, 2013

   $ 181,441,387       $ 177,158,512         December 16, 2013         92,464,911         2,907,939         89,556,972         0.6926         255,820         3,692,925   

January 4, 2014

   $ 177,158,512       $ 161,607,770         January 16, 2014         89,556,972         12,687,162         76,869,810         0.5945         247,774         3,940,699   

February 4, 2014

   $ 161,607,770       $ 158,426,727         February 17, 2014         76,869,810         2,208,438         74,661,372         0.5774         212,673         4,153,373   

March 4, 2014

   $ 158,426,727       $ 141,710,903         March 17, 2014         74,661,372         10,879,422         63,781,949         0.4933         206,563         4,359,936   

April 4, 2014

   $ 141,710,903       $ 120,509,617         April 15, 2014         63,781,949         14,286,693         49,495,256         0.3828         176,463         4,536,399   

May 5, 2014

   $ 120,509,617       $ 118,022,900         May 15, 2014         49,495,256         1,444,243         48,051,013         0.3716         136,937         4,673,336   

June 5, 2014

   $ 118,022,900       $ 115,340,195         June 16, 2014         48,051,013         1,503,724         46,547,289         0.3600         132,941         4,806,277   

July 7, 2014

   $ 115,340,195       $ 99,370,881         July 15, 2014         46,547,289         11,099,622         35,447,667         0.2742         128,781         4,935,058   

August 5, 2014

   $ 99,370,881       $ 88,588,149         August 15, 2014         35,447,667         6,259,374         29,188,294         0.2257         98,072         5,033,130   

September 5, 2014

   $ 88,588,149       $ 85,991,260         September 15, 2014         29,188,294         1,237,193         27,951,101         0.2162         80,754         5,113,884   

October 6, 2014

   $ 85,991,260       $ 83,796,541         October 15, 2014         27,951,101         1,128,989         26,822,112         0.2074         77,331         5,191,215   

November 5, 2014

   $ 83,796,541       $ 70,703,225         November 16, 2014         26,822,112         6,602,150         20,219,961         0.1564         74,208         5,265,423   

December 5, 2014

   $ 70,703,225       $ 58,366,920         December 16, 2014         20,219,961         4,170,817         16,049,144         0.1241         55,942         5,321,365   

 

General Reserve Account

 

Payment Date

   Beginning
Balance
     Plus: Required
Deposits
     Plus:
Interest
     Less: Excess over
General Reserve
Account Required
Balance
     Less:
Withdrawal
for Insufficient
Funds for
Required
Payments
     Less:
Withdrawal due
to Event of
Default
     Ending Balance      Reserve Balance
as a % of the
Outstanding
Principal Balance

of the Notes
 

January 16, 2013

   $ —         $ —         $ —         $ —         $ —         $ —         $ —           0.00

February 19, 2013

   $ —         $ 390,088       $ —         $ —         $ —         $ —         $ 390,088         0.32

March 16, 2013

   $ 390,088       $ 420,079       $ —         $ —         $ —         $ —         $ 810,167         0.66

April 16, 2013

   $ 810,167       $ —         $ —         $ —         $ 243,520       $ —         $ 566,646         0.47

May 16, 2013

   $ 566,646       $ 568,520       $ —         $ —         $ —         $ —         $ 1,135,167         0.99

June 17, 2013

   $ 1,135,167       $ 522,647       $ —         $ —         $ —         $ —         $ 1,657,814         1.47

July 16, 2013

   $ 1,657,814       $ 602,149       $ —         $ —         $ —         $ —         $ 2,259,963         2.05

August 16, 2013

   $ 2,259,963       $ 602,427       $ —         $ —         $ —         $ —         $ 2,862,390         2.66

September 16, 2013

   $ 2,862,390       $ 769,496       $ —         $ —         $ —         $ —         $ 3,631,886         3.45

October 16, 2013

   $ 3,631,886       $ 1,036,473       $ —         $ —         $ —         $ —         $ 4,668,359         4.56

November 18, 2013

   $ 4,668,359       $ 875,391       $ —         $ —         $ —         $ —         $ 5,543,750         5.81

December 16, 2013

   $ 5,543,750       $ 727,468       $ —         $ —         $ —         $ —         $ 6,271,218         6.78

January 16, 2014

   $ 6,271,218       $ —         $ —         $ 505,982       $ —         $ —         $ 5,765,236         7.50

February 17, 2014

   $ 5,765,236       $ —         $ —         $ 165,633       $ —         $ —         $ 5,599,603         7.50

March 17, 2014

   $ 5,599,603       $ —         $ —         $ 815,957       $ —         $ —         $ 4,783,646         7.50

April 15, 2014

   $ 4,783,646       $ —         $ —         $ 1,071,502       $ —         $ —         $ 3,712,144         7.50

May 15, 2014

   $ 3,712,144       $ —         $ —         $ 108,318       $ —         $ —         $ 3,603,826         7.50

June 16, 2014

   $ 3,603,826       $ —         $ —         $ 112,779       $ —         $ —         $ 3,491,047         7.50

July 15, 2014

   $ 3,491,047       $ —         $ —         $ 832,472       $ —         $ —         $ 2,658,575         7.50

August 15, 2014

   $ 2,658,575       $ —         $ —         $ 469,453       $ —         $ —         $ 2,189,122         7.50

September 15, 2014

   $ 2,189,122       $ —         $ —         $ 92,789       $ —         $ —         $ 2,096,333         7.50

October 15, 2014

   $ 2,096,333       $ —         $ —         $ 84,674       $ —         $ —         $ 2,011,658         7.50

November 16, 2014

   $ 2,011,658       $ —         $ —         $ 495,161       $ —         $ —         $ 1,516,497         7.50

December 16, 2014

   $ 1,516,497       $ —         $ —         $ 312,811       $ —         $ —         $ 1,203,686         7.50

 

 

Hercules Capital Funding Trust 2012-1   
Monthly Servicing Report for the Collection Period Ending December 5, 2014    Page 5 of 9


Pool Balance (by Obligor) Concentration

 

Obligor Count

  11   

 

Loan Status

   Loan Balance      % of
Loan Balance
 

Current

   $ 58,366,920         100

Restructured

   $ —           0

Defaulted

   $ —           0

Delinquent

   $ —           0
  

 

 

    

 

 

 

TOTAL

$ 58,366,920      100
  

 

 

    

 

 

 

 

Concentration Limits percentage of Loan Balance

  5   23   44

Concentration Limits in Dollars

$ 2,918,346    $ 13,424,392    $ 25,681,445   
     Single Obligor     Top Five     Top Ten  

Excess Concentration

      

OBLIGOR #13

   $ (7,081,654    

OBLIGOR #26

   $ (6,341,677    

OBLIGOR #18

   $ (5,982,078    

OBLIGOR #16

   $ (4,040,426    

OBLIGOR #17

   $ (3,213,569   $ (27,826,742  

OBLIGOR #20

   $ (3,142,531    

OBLIGOR #5

   $ (2,584,601    
       $ (32,481,203
  

 

 

   

 

 

   

 

 

 

Total

$ (32,386,535 $ (27,826,742 $ (32,481,203
  

 

 

   

 

 

   

 

 

 

 

Total Excess Concentration Amount

$ (32,481,203

Adjusted Pool Balance

$ 25,885,717   

 

 

Hercules Capital Funding Trust 2012-1
Monthly Servicing Report for the Collection Period Ending December 5, 2014 Page 6 of 9


Pool Balance and Note Schedules

 

 

Pool Balance

 

Ending Collection

Period Date

   Beginning Principal      Principal
Collections*
     Adjustment For
Substitution
     Other Collections      Ending
Balance
     Collateral Interest
Received
     Other
Collections
     Total Collections  

December 19, 2012

   $ 230,681,409       $ —         $ —            $ 230,681,409       $ —         $ —         $ —     

January 4, 2013

   $ 230,681,409       $ 5,740,595       $ —            $ 224,940,814       $ 2,084,457       $ —         $ 7,825,052   

February 4, 2013

   $ 224,940,814       $ 2,356,596       $ —            $ 222,584,218       $ 1,981,727       $ —         $ 4,338,323   

March 4, 2013

   $ 222,584,218       $ 2,730,927       $ —            $ 219,853,292       $ 1,770,085       $ —         $ 4,501,012   

April 4, 2013

   $ 219,853,292       $ 3,900,558       $ 2,677,489          $ 213,275,244       $ 1,935,178       $ 18,050       $ 5,853,787   

May 4, 2013

   $ 213,275,244       $ 3,270,073       $ —            $ 210,005,171       $ 1,846,576       $ —         $ 5,116,649   

June 4, 2013

   $ 210,005,171       $ 3,318,319       $ 108,251          $ 206,578,601       $ 1,977,416       $ —         $ 5,295,735   

July 3, 2013

   $ 206,578,601       $ 3,769,179       $ —            $ 202,809,422       $ 1,781,618       $ —         $ 5,550,798   

August 2, 2013

   $ 202,809,422       $ 3,771,009       $ —            $ 199,038,413       $ 1,805,042       $ —         $ 5,576,051   

September 3, 2013

   $ 199,038,413       $ 4,097,386       $ —         $ 106,000       $ 194,941,027       $ 1,784,734       $ —         $ 5,988,120   

October 4, 2013

   $ 194,941,027       $ 9,095,353       $ —            $ 185,845,674       $ 1,608,996       $ —         $ 10,704,349   

November 4, 2013

   $ 185,845,674       $ 4,099,288       $ 305,000       $ 333,333       $ 181,441,387       $ 1,634,167       $ —         $ 6,371,788   

December 4, 2013

   $ 181,441,387       $ 4,282,874       $ —         $ 80,000       $ 177,158,512       $ 1,573,172       $ —         $ 5,936,046   

January 4, 2014

   $ 177,158,512       $ 15,550,742       $ —         $ 12,383       $ 161,607,770       $ 1,555,000       $ —         $ 17,118,125   

February 4, 2014

   $ 161,607,770       $ 3,181,044       $ —         $ 650,659       $ 158,426,727       $ 1,374,048       $ —         $ 5,205,750   

March 4, 2014

   $ 158,426,727       $ 16,715,823       $ —         $ 661,525       $ 141,710,903       $ 1,360,269       $ —         $ 18,737,617   

April 4, 2014

   $ 141,710,903       $ 21,201,286       $ —         $ 3,184,388       $ 120,509,617       $ 1,343,993       $ —         $ 25,729,667   

May 5, 2014

   $ 120,509,617       $ 2,486,716       $ —         $ —         $ 118,022,900       $ 1,115,998       $ —         $ 3,602,715   

June 5, 2014

   $ 118,022,900       $ 2,682,705       $ —         $ 50,000       $ 115,340,195       $ 1,106,807       $ —         $ 3,839,512   

July 7, 2014

   $ 115,340,195       $ 15,969,314       $ —         $ 730,625       $ 99,370,881       $ 1,041,611       $ —         $ 17,741,550   

August 5, 2014

   $ 99,370,881       $ 10,782,732       $ —         $ 286,710       $ 88,588,149       $ 835,575       $ —         $ 11,905,018   

September 5, 2014

   $ 88,588,149       $ 2,596,890       $ —         $ —         $ 85,991,260       $ 916,901       $ —         $ 3,513,791   

October 6, 2014

   $ 85,991,260       $ 2,194,719       $ —         $ —         $ 83,796,541       $ 769,923       $ —         $ 2,964,642   

November 5, 2014

   $ 83,796,541       $ 13,093,317       $ —         $ 207,672       $ 70,703,225       $ 725,643       $ —         $ 14,026,631   

December 5, 2014

   $ 70,703,225       $ 12,336,305       $ —         $ 592,263       $ 58,366,920       $ 853,184       $ —         $ 13,781,752   

 

Note Balance - Class A Notes

 

Payment Date

   Beginning Principal      Principal Paydown      Ending Balance      Note Factor  

December 19, 2012

   $ 129,300,000          $ 129,300,000         1.0000   

January 16, 2013

   $ 129,300,000       $ 5,781,416       $ 123,518,584         0.9553   

February 19, 2013

   $ 123,518,584       $ 1,576,420       $ 121,942,164         0.9431   

March 18, 2013

   $ 121,942,164       $ 1,890,769       $ 120,051,395         0.9285   

April 16, 2013

   $ 120,051,395       $ 5,375,752       $ 114,675,643         0.8869   

May 16, 2013

   $ 114,675,643       $ 2,133,032       $ 112,542,610         0.8704   

June 17, 2013

   $ 112,542,610       $ 2,273,025       $ 110,269,586         0.8528   

July 16, 2013

   $ 110,269,586       $ 2,564,881       $ 107,704,704         0.8330   

August 16, 2013

   $ 107,704,704       $ 2,566,154       $ 105,138,550         0.8131   

September 16, 2013

   $ 105,138,550       $ 2,664,395       $ 102,474,155         0.7925   

October 16, 2013

   $ 102,474,155       $ 7,022,406       $ 95,451,748         0.7382   

November 18, 2013

   $ 95,451,748       $ 2,986,838       $ 92,464,911         0.7151   

December 16, 2013

   $ 92,464,911       $ 2,907,939       $ 89,556,972         0.6926   

January 16, 2014

   $ 89,556,972       $ 12,687,162       $ 76,869,810         0.5945   

February 17, 2014

   $ 76,869,810       $ 2,208,438       $ 74,661,372         0.5774   

March 17, 2014

   $ 74,661,372       $ 10,879,422       $ 63,781,949         0.4933   

April 15, 2014

   $ 63,781,949       $ 14,286,693       $ 49,495,256         0.3828   

May 15, 2014

   $ 49,495,256       $ 1,444,243       $ 48,051,013         0.3716   

June 16, 2014

   $ 48,051,013       $ 1,503,724       $ 46,547,289         0.3600   

July 15, 2014

   $ 46,547,289       $ 11,099,622       $ 35,447,667         0.2742   

August 15, 2014

   $ 35,447,667       $ 6,259,374       $ 29,188,294         0.2257   

September 15, 2014

   $ 29,188,294       $ 1,237,193       $ 27,951,101         0.2162   

October 15, 2014

   $ 27,951,101       $ 1,128,989       $ 26,822,112         0.2074   

November 16, 2014

   $ 26,822,112       $ 6,602,150       $ 20,219,961         0.1564   

December 16, 2014

   $ 20,219,961       $ 4,170,817       $ 16,049,144         0.1241   

 

* Principal Collections can potentially include fees and other payments

 

Hercules Capital Funding Trust 2012-1   
Monthly Servicing Report for the Collection Period Ending December 5, 2014    Page 7 of 9


Pool Balance - End of Period

 

 

OBLIGOR NAME Dec-12   Jan-13   Feb-13   Mar-13   Apr-13   May-13   Jun-13   Jul-13   Aug-13   Sep-13   Oct-13   Nov-13   Dec-13  

OBLIGOR #1

$ 8,172,429    $ 7,861,069    $ 7,547,429    $ 7,226,148    $ 6,907,861    $ 6,585,614    $ 6,262,639    $ 5,935,821    $ 5,608,090    $ 5,277,960    $ 4,944,167    $ 4,609,177    $ 4,270,648   

OBLIGOR #2

$ 5,052,335    $ 4,572,047    $ 4,087,313    $ 3,594,431    $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #3

$ 9,230,769    $ 8,846,154    $ 8,461,538    $ 8,076,923    $ 7,692,308    $ 7,307,692    $ 6,923,077    $ 6,538,462    $ 6,153,846    $ 5,769,231    $ 5,384,615    $ 5,000,000    $ 4,615,385   

OBLIGOR #4

$ 11,292,550    $ 10,871,709    $ 10,447,046    $ 10,009,339    $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #5

$ 12,555,645    $ 12,555,645    $ 12,555,645    $ 12,555,645    $ 12,198,390    $ 11,833,442    $ 11,468,786    $ 11,096,603    $ 10,724,397    $ 10,348,377    $ 9,965,083    $ 9,581,282    $ 9,190,380   

OBLIGOR #6

$ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ —      $ —      $ —     

OBLIGOR #7

$ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673   

OBLIGOR #8

$ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 14,553,670    $ 14,107,639    $ 13,654,431   

OBLIGOR #9

$ 3,822,324    $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #10

$ 1,000,000    $ 1,000,000    $ 1,000,000    $ 966,343    $ 933,243    $ 899,586    $ 865,897    $ 831,664    $ 797,375    $ 762,784    $ 727,670    $ 692,464    $ 656,749   

OBLIGOR #11

$ 3,758,211    $ 3,563,606    $ 3,367,447    $ 3,167,242    $ 2,968,011    $ 2,766,494    $ 2,564,157    $ 2,359,611    $ 2,154,121    $ 1,947,038    $ 1,737,864    $ 1,527,555    $ 1,315,235   

OBLIGOR #12

$ 8,000,000    $ 8,000,000    $ 8,000,000    $ 8,000,000    $ 7,703,704    $ 7,407,407    $ 7,111,111    $ 6,814,815    $ 6,518,519    $ 6,222,222    $ 5,925,926    $ 5,629,630    $ 5,333,333   

OBLIGOR #13

$ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000   

OBLIGOR #14

$ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000    $ 15,000,000   

OBLIGOR #15

$ 5,000,000    $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 4,880,240    $ 4,760,835    $ 4,640,408    $ 4,517,666    $ 4,395,155    $ 4,270,380   

OBLIGOR #16

$ 15,000,000    $ 15,000,000    $ 14,573,778    $ 14,128,579    $ 13,693,352    $ 13,249,064    $ 12,804,749    $ 12,351,575    $ 11,897,986    $ 11,439,710    $ 10,972,886    $ 10,505,051    $ 10,028,879   

OBLIGOR #17

$ 10,000,000    $ 10,000,000    $ 10,000,000    $ 9,711,183    $ 9,428,358    $ 9,140,353    $ 8,852,490    $ 8,559,565    $ 8,266,576    $ 7,971,001    $ 7,670,547    $ 7,369,711    $ 7,064,121   

OBLIGOR #18

$ 13,749,133    $ 13,749,133    $ 13,749,133    $ 13,749,133    $ 11,749,133    $ 11,389,840    $ 11,030,718    $ 10,665,363    $ 10,299,863    $ 9,931,335    $ 9,556,937    $ 9,249,519    $ 8,801,783   

OBLIGOR #18

$ 2,000,000    $ 2,000,000    $ 2,000,000    $ 2,000,000    $ 2,000,000    $ 2,000,000    $ 2,000,000    $ 2,000,000    $ 2,000,000   

OBLIGOR #19

$ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 9,711,251    $ 9,422,842    $ 9,131,539    $ 4,031,539    $ —      $ —     

OBLIGOR #20

$ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000   

OBLIGOR #21

$ 5,000,000    $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 4,845,939    $ 4,690,274    $ 4,534,612    $ 4,377,391    $ 4,220,113    $ 4,062,022    $ 3,902,438    $ 3,742,706    $ 3,581,525   

OBLIGOR #21

$ 5,000,000    $ 5,000,000    $ 5,000,000    $ 5,000,000    $ 4,851,509    $ 4,700,720    $ 4,549,975    $ 4,396,987    $ 4,243,953    $ 4,089,765    $ 3,933,422    $ 3,776,895    $ 3,618,270   

OBLIGOR #22

$ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 6,000,000    $ 5,833,332    $ 5,666,665   

OBLIGOR #23

$ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000   

OBLIGOR #24

$ 8,283,251    $ 8,156,689    $ 8,030,126    $ 7,903,564    $ 7,777,001    $ 7,608,251    $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #25

$ 8,000,000    $ 8,000,000    $ 8,000,000    $ 8,000,000    $ 8,000,000    $ 7,900,000    $ 7,800,000    $ 7,700,000    $ 7,600,000    $ 7,200,000    $ 7,100,000    $ 7,000,000    $ 6,900,000   

OBLIGOR #25

$ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762   

OBLIGOR #26

$ —      $ —      $ —      $ —      $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000   

OBLIGOR #27

$ —      $ —      $ —      $ —      $ —      $ —      $ 7,283,956    $ 7,063,640    $ 6,843,463    $ 6,621,201    $ 6,394,809    $ 6,168,297    $ 5,937,754   

OBLIGOR #28

$ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000   

OBLIGOR #29

$ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ 3,726,539    $ 3,726,539   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

TOTAL

$ 230,681,409    $ 224,940,814    $ 222,584,218    $ 219,853,292    $ 213,275,244    $ 210,005,171    $ 206,578,601    $ 202,809,422    $ 199,038,413    $ 194,941,027    $ 185,845,674    $ 181,441,387    $ 177,158,512   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

 

Hercules Capital Funding Trust 2012-1
Monthly Servicing Report for the Collection Period Ending December 5, 2014 Page 8 of 9


Pool Balance - End of Period

 

 

OBLIGOR NAME Jan-14   Feb-14   Mar -14   Apr -14   May-14   Jun-14   Jul-14   Aug-14   Sep-14   Oct-14   Nov-14   Dec-14  

OBLIGOR #1

$ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #2

$ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #3

$ 4,230,769    $ 3,846,154    $ 3,461,539    $ 3,076,923    $ 2,692,308    $ 2,307,692    $ 1,923,077    $ 1,538,462    $ 1,153,846    $ 769,231    $ 384,616    $ —     

OBLIGOR #4

$ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #5

$ 8,798,641    $ 8,402,887    $ 7,994,745    $ 7,590,753    $ 7,180,113    $ 6,767,774    $ 6,348,972    $ 5,928,116    $ 5,502,947    $ 5,502,947    $ 5,502,947    $ 5,502,947   

OBLIGOR #6

$ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #7

$ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ 9,761,673    $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #8

$ 13,201,238    $ 13,201,238    $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #9

$ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #10

$ 620,917    $ 584,768    $ 547,801    $ 511,007    $ 473,743    $ 436,295    $ 398,393    $ 360,280    $ 321,831    $ 282,950    $ 243,819    $ 204,272   

OBLIGOR #11

$ 1,101,651    $ 886,411    $ 668,839    $ 450,245    $ 229,845    $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #12

$ 5,037,037    $ 4,740,741    $ 4,444,444    $ 4,148,148    $ 3,851,852    $ 3,555,556    $ 3,259,259    $ 2,962,963    $ 2,666,667    $ 2,370,370    $ 2,074,074    $ 1,777,778   

OBLIGOR #13

$ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000   

OBLIGOR #14

$ 14,567,912    $ 14,131,732    $ 13,678,466    $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #15

$ 4,145,750    $ 4,020,052    $ 3,889,944    $ 3,762,055    $ 3,632,030    $ 3,501,931    $ 3,369,749    $ 3,237,403    $ 3,103,923    $ 2,968,441    $ 2,832,656    $ 2,694,925   

OBLIGOR #16

$ 9,551,290    $ 9,068,764    $ 8,572,185    $ 8,572,185    $ 8,396,046    $ 8,198,086    $ 7,995,348    $ 7,793,247    $ 7,589,058    $ 7,380,230    $ 7,171,773    $ 6,958,772   

OBLIGOR #17

$ 6,757,933    $ 6,449,041    $ 6,131,915    $ 6,131,915    $ 6,131,915    $ 6,131,915    $ 6,131,915    $ 6,131,915    $ 6,131,915    $ 6,131,915    $ 6,131,915    $ 6,131,915   

OBLIGOR #18

$ 8,420,762    $ 8,420,762    $ 8,420,762    $ 8,420,762    $ 8,420,762    $ 8,420,762    $ 8,420,762    $ 8,420,762    $ 8,034,849    $ 7,643,311    $ 7,250,620    $ 7,250,620   

OBLIGOR #18

$ 1,913,989    $ 1,913,989    $ 1,913,989    $ 1,913,989    $ 1,913,989    $ 1,913,989    $ 1,913,989    $ 1,913,989    $ 1,826,942    $ 1,738,512    $ 1,649,803    $ 1,649,803   

OBLIGOR #19

$ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #20

$ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,250,000    $ 7,086,741    $ 6,919,112    $ 6,752,163    $ 6,583,353    $ 6,410,291    $ 6,237,669    $ 6,060,877   

OBLIGOR #21

$ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #21

$ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #22

$ 5,499,997    $ 5,333,329    $ 5,166,662    $ 4,999,994    $ 4,833,326    $ 4,666,659    $ 4,499,991    $ 4,333,323    $ 4,166,656    $ 3,999,988    $ 874,988    $ 874,988   

OBLIGOR #23

$ 10,000,000    $ 10,000,000    $ 10,000,000    $ 9,706,012    $ 9,407,058    $ 9,108,219    $ 8,804,532    $ 8,500,764    $ 8,194,512    $ 7,883,591    $ —      $ —     

OBLIGOR #24

$ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #25

$ 6,800,000    $ 6,700,000    $ 6,600,000    $ 6,500,000    $ 6,400,000    $ 6,300,000    $ 6,200,000    $ 6,200,000    $ 6,200,000    $ 6,200,000    $ 6,200,000    $ —     

OBLIGOR #25

$ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ 4,514,762    $ —     

OBLIGOR #26

$ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 10,000,000    $ 9,633,583    $ 9,260,023   

OBLIGOR #27

$ 5,706,912    $ 5,473,884    $ 5,233,631    $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —     

OBLIGOR #28

$ 10,000,000    $ 10,000,000    $ 9,733,008    $ 9,472,654    $ 9,206,940    $ 8,941,603    $ 8,671,020    $ —      $ —      $ —      $ —      $ —     

OBLIGOR #29

$ 3,726,539    $ 3,726,539    $ 3,726,539    $ 3,726,539    $ 3,726,539    $ 3,726,539    $ —      $ —      $ —      $ —      $ —      $ —     
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

TOTAL

$ 161,607,770    $ 158,426,727    $ 141,710,903    $ 120,509,617    $ 118,022,900    $ 115,340,195    $ 99,370,881    $ 88,588,149    $ 85,991,260    $ 83,796,541    $ 70,703,225    $ 58,366,920   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

 

Hercules Capital Funding Trust 2012-1
Monthly Servicing Report for the Collection Period Ending December 5, 2014 Page 9 of 9