
		Wachovia SBA Lending, Inc. Series 1999-1 Servicer’s Certificate		Record Date: 04/30/2005 Determination Date: 05/11/2005 Distribution Date: 05/16/2005


				Original		Beginning								Total Class				Ending
	Certificate			Certificate		Certificate						Liquidated		Principal		Total		Certificate
Class	Rate			Balance		Balance		Interest		Principal		Losses		Distribution		Distribution		Balance

A		3.5500	%		94,012,000.00		32,582,582.20		79,607.87		311,352.33		0.00		311,352.33		390,960.20		32,271,229.87
Factors per Thousand									0.84678413		3.31183604				3.31183604		4.15862018		343.26713473

M		4.0700	%		2,888,000.00		998,880.22		2,798.02		9,574.92		0.00		9,574.92		12,372.94		989,305.30
Factors per Thousand									0.96884349		3.31541551				3.31541551		4.28425900		342.55723684

B		5.0500	%		4,189,247.00		1,454,647.10		5,055.81		13,860.20		0.00		13,860.20		18,916.01		1,440,786.90
Factors per Thousand									1.20685412		3.30851821				3.30851821		4.51537233		343.92502996



*Pool*					101,089,247.00		35,036,109.52		87,461.70		334,787.45		0.00		334,787.45		422,249.15		34,701,322.07
*Totals*									0.86519291		3.31180081				3.31180081		4.17699372		343.27411767

Certificate Information


			Interest			Adjusted
			Distribution			Interest
	Accrued		Amount			Distribution		Remittance			Shortfall
Class	Interest		Adjustment			Amount		Rate			Amounts
A		96,390.00		(16,782.13	)		79,607.87		3.5500	%		0.00
M		3,387.90		(589.88	)		2,798.02		4.0700	%		0.00
B		6,121.50		(1,065.69	)		5,055.81		5.0500	%		0.00


HSBC Bank USA Issuer Services 10 East 40th Street, 14th Floor New York, NY 10016-0200		Susie Moy Phone: 212-525-1362 Fax: 212-525-1300


		Wachovia SBA Lending, Inc. Series 1999-1 Servicer’s Certificate		Record Date: 04/30/2005 Determination Date: 05/11/2005 Distribution Date: 05/16/2005

Schedule of Remittance


Aggregate Amount Received	619,909.93
Amount Available in the Spread Account	2,109,522.14
Interest Earnings on Spread Account	3,440.89
Letter of Credit Available Amount	5,280,474.80
Monthly Advances	0.00
(Servicing Fee) *	(32,533.83	)
(Premium Protection Fee)	(33,173.70	)
(Unreimbursed Monthly Advances)	0.00

*Available Funds*	7,947,640.23


Bond Interest Distributed	87,461.70
Bond Principal Distributed	334,787.45
Escrow Fee	1,751.90
Specified Spread Account Requirement	2,824,660.13
Letter of Credit Available Amount	5,280,474.80
(Required for Spread Account)	(581,495.75	)
Spread Excess Distributed to Spread Acct Depositor	0.00

	7,947,640.23

Collateral Information


Aggregate Beginning Principal Balance of Loans			35,036,109.52
Aggregate Ending Principal Balance of Loans			34,701,322.07
Principal Prepayments (Number / Amount)	3		145,964.37
Curtailments			0.00
Excess and Monthly Payments			188,823.08
Recoveries on Previous Realized Losses			17,879.92
Interest Received			267,242.56
Amount of Monthly Advance			0.00
Compensating Interest			78.09
Liquidated Losses (Current / Cumulative)	0.00		2,996,765.93
Delinquent 24 mos or Uncollectible (Current / Cumulative)	0.00		8,497,704.43
Specified Spread Account Requirement			2,824,660.13
Transfer from Spread Account to Certificate Account			0.00
Amount on Deposit in Spread Account after all required transfers			2,243,164.38
LOC Available Amount as a percentage of Pool Principal Balance			15.22	%
Excess Spread / Extra Interest	50,010.06		106,363.80
Weighted Average SBA Loan Interest Rate			7.5455	%
Weighted Average Maturity			171.962

Servicer Withdrawals from Principal and Interest Account
Accrued Unpaid Servicing Fees		$	0.00
Unreimbursed Monthly / Servicing Advances		$	0.00
Investment Earnings on Permitted Instruments		$	0.00
Funds deposted in the account in error		$	0.00
Servicing Compensation (paid prior month)		$	37,421.54

In the calculation of Servicing Fee, the Company computes the amount based upon the product of the total interest collected and the ratio of the Servicing Fee rate as specified in the Agreement over the prior month weighted average customer rate.


HSBC Bank USA Issuer Services 10 East 40th Street, 14th Floor New York, NY 10016-0200		Susie Moy Phone: 212-525-1362 Fax: 212-525-1300


		Wachovia SBA Lending, Inc. Series 1999-1 Servicer’s Certificate		Record Date: 04/30/2005 Determination Date: 05/11/2005 Distribution Date: 05/16/2005

Exhibit K


	Outstanding Balance — Pool				34,701,322.07
	# Accounts				282



Delinquent Information	# Loans		Pool Amount		Pool %
Delinquent 1-29 Days		134		16,881,081.52		48.647	%
Delinquent 30-59 Days		2		28,625.73		0.082	%
Delinquent 60-89 Days		0		0.00		0.000	%
Delinquent 90-179		4		886,842.58		2.556	%
Delinquent 180-719		4		1,083,497.23		3.122	%
Delinquent 720 and Over		0		0.00		0.000	%
Loans in Foreclosure		0		0.00		0.000	%
REO Property		1		58,310.75		0.168	%
Totals		145		18,938,357.81		54.575	%


	Outstanding Balance — Gross				100,179,636.33
	# Accounts				282



Delinquent Information	# Loans		Gross Amount		Gross %
Delinquent 1-29 Days		134		49,012,800.83		48.925	%
Delinquent 30-59 Days		2		114,502.34		0.114	%
Delinquent 60-89 Days		0		0.00		0.000	%
Delinquent 90-179		4		2,415,768.16		2.411	%
Delinquent 180-719		4		2,424,323.37		2.420	%
Delinquent 720 and Over		0		0.00		0.000	%
Loans in Foreclosure		0		0.00		0.000	%
REO Property		1		233,242.52		0.233	%
Totals		145		54,200,637.22		54.103	%


HSBC Bank USA Issuer Services 10 East 40th Street, 14th Floor New York, NY 10016-0200		Susie Moy Phone: 212-525-1362 Fax: 212-525-1300


		Wachovia SBA Lending, Inc. Series 1999-1 Servicer’s Certificate		Record Date: 04/30/2005 Determination Date: 05/11/2005 Distribution Date: 05/16/2005

Series 1999-1

The following additional information, presented in dollars, pursuant to Section 6.09 subclauses (ii), (iii), (iv), (v), (x) and (xii), is provided for each Class per $1,000 original dollar amount as of the Cut-off date.


Sub-Clause		Class A		Class M		Class B		Pool
(ii)			347		346		347		347
(iii)			0		0		0		1
(iv)			0		0		0		0
(v)			0		0		0		2
(x) (a&b)	(i)		1		1		1		1
	(ii)		0		0		0		0
	(iii)		0		0		0		0
	total		1		1		1		1

(x) (c&d)	(i)		3		3		3		3
	(ii)		0		0		0		0
	(iii)		0		0		0		0
	(iv)		0		0		0		0
	(v)		0		0		0		0
	(vi)		0		0		0		0
	(vii)		0		0		0		0
	total		3		3		3		3

(xii)			343		343		344		343


HSBC Bank USA Issuer Services 10 East 40th Street, 14th Floor New York, NY 10016-0200		Susie Moy Phone: 212-525-1362 Fax: 212-525-1300


		Wachovia SBA Lending, Inc. Series 1999-1 Servicer’s Certificate		Record Date: 04/30/2005 Determination Date: 05/11/2005 Distribution Date: 05/16/2005

I, Stephanie Hartson, Assistant Vice President, represent that Wachovia SBA Lending, Inc., complied with section 6.09 of the Pooling and Servicing Agreement dated February 28, 1999 pertaining to Series 1999-1 in preparing the accompanying Servicer’s Certificate.

Wachovia SBA Lending, Inc.

By: /s/ Stephanie Hartson

Name: Stephanie Hartson

Title: Assistant Vice President


HSBC Bank USA Issuer Services 10 East 40th Street, 14th Floor New York, NY 10016-0200		Susie Moy Phone: 212-525-1362 Fax: 212-525-1300

WACHOVIA SBA LENDING INC SERIES 1999-1 8-K