Payment Date:	7/20/2005	GE Commercial Equipment Financing LLC
Collection Period Ended:	6/30/2005	SERIES 2005-1
Closing Date:	6/16/2005
Next Payment Date:	8/22/2005	STATEMENT TO NOTEHOLDERS
Final Payment Date:	5/20/2016

Note Payment Detail

in Dollars

					Principal	Interest
			Original Face	Beginning	Payment	Payment		Ending
Class	CUSIP	Interest Rate	Value	Class Balance	Amount	Amount	Total	Class Balance

Class A-1	36828R AS 3	3.42375%	140,000,000.00	140,000,000.00	22,225,195.66	452,695.83	22,677,891.49	117,774,804.34
Class A-2	36828R AT 1	3.77000%	130,000,000.00	130,000,000.00	0.00	462,872.22	462,872.22	130,000,000.00
Class A-3A	36828R AU 8	3.98000%	105,000,000.00	105,000,000.00	0.00	394,683.33	394,683.33	105,000,000.00
Class A-3B	36828R AV 6	3.24625%	105,000,000.00	105,000,000.00	0.00	321,919.79	321,919.79	105,000,000.00
Class A-4	36828R AW 4	3.29625%	131,548,000.00	131,548,000.00	0.00	409,525.37	409,525.37	131,548,000.00
Class B	36828R AX 2	3.48625%	24,527,000.00	24,527,000.00	0.00	80,756.85	80,756.85	24,527,000.00
Class C	36828R AY 0	3.70625%	17,987,000.00	17,987,000.00	0.00	62,960.75	62,960.75	17,987,000.00

TOTALS			654,062,000.00	654,062,000.00	22,225,195.66	2,185,414.14	24,410,609.80	631,836,804.34

Factor Information per $1,000 of Original Face Value

		Beginning				Ending
Class	CUSIP	Principal Factor	Principal	Interest	Total	Principal Factor

Class A-1	36828R AS 3	1000.0000000	158.7513976	3.2335416		161.9849392	841.2486024
Class A-2	36828R AT 1	1000.0000000	0.0000000	3.5605555		3.5605555	1000.0000000
Class A-3A	36828R AU 8	1000.0000000	0.0000000	3.7588889		3.7588889	1000.0000000
Class A-3B	36828R AV 6	1000.0000000	0.0000000	3.0659028		3.0659028	1000.0000000
Class A-4	36828R AW 4	1000.0000000	0.0000000	3.1131250		3.1131250	1000.0000000
Class B	36828R AX 2	1000.0000000	0.0000000	3.2925694		3.2925694	1000.0000000
Class C	36828R AY 0	1000.0000000	0.0000000	3.5003475		3.5003475	1000.0000000

TOTALS		1000.0000000	33.9802582	3.3412951		37.3215533	966.0197418

Factor Information per $1,000 of Original Face Value - Fees
Servicing Fee	0.1361111
Servicer Advances	0.0000000
Administration Fees	0.0003822

Payment Date:	7/20/2005	GE Commercial Equipment Financing LLC
Collection Period Ended:	6/30/2005	SERIES 2005-1
Closing Date:	6/16/2005
Next Payment Date:	8/22/2005	STATEMENT TO NOTEHOLDERS
Final Payment Date:	5/20/2016

Funding of the Collection Account

(i)	Total Principal Payments Received	21,174,771.76

(ii)	Interest Payments Received	4,464,560.28

(iii)	Net Swap Receipts and Swap Termination Payments	270.72

(iv)	Recoveries, Liquidation Proceeds, and Insurance Proceeds	0.00

(v)	Purchase Amount of Loans that became Purchased Loans in the current Collection Period pursuant to Section 2.4 of the Loan Purchase and Sale Agreement	0.00
	Purchase Amount of Loans that became Purchased Loans in the current Collection Period pursuant to Section 7.2(b) of the Loan Purchase and Sale Agreement	0.00

(vi)	Investment Earnings	15,694.19

(vii)	Servicer Advances	0.00

(viii)	Termination Value payments	0.00


(ix)	Available Amounts	25,655,296.95

(x)	Draws on the Reserve Account	0.00

(xi)	Total Cash Available in the Collection Account	25,655,296.95

Payment Date:	7/20/2005	GE Commercial Equipment Financing LLC
Collection Period Ended:	6/30/2005	SERIES 2005-1
Closing Date:	6/16/2005
Next Payment Date:	8/22/2005	STATEMENT TO NOTEHOLDERS
Final Payment Date:	5/20/2016

Permitted Withdrawals from Collection Account
(i)	Amounts deposited in error			0.00

(ii)	Servicing Fee
		Previously accrued but unpaid	0.00
		Current period accrued	89,025.12
		Total amount due	89,025.12
		Total amount paid	89,025.12
		Closing accrued but unpaid	0.00

		Total Servicing Fee Paid		89,025.12


(iii)	Reimbursement of Servicer Advances			0.00


		Total of Permitted Withdrawals		89,025.12

Total funds in the Note Distribution Account available for distribution				25,566,271.83

Payment Date:	7/20/2005	GE Commercial Equipment Financing LLC
Collection Period Ended:	6/30/2005	SERIES 2005-1
Closing Date:	6/16/2005
Next Payment Date:	8/22/2005	STATEMENT TO NOTEHOLDERS
Final Payment Date:	5/20/2016

Payments from the Note Distribution Account

1.	Trustee Fees and Expenses Paid	265.00
2.	Administration Fee Paid	250.00
3.	Swap Payments to Swap Counterparty		68,772.75


4.	Ratably pay Class A Interest and Swap Termination Payment

	(a) Class A-1 Note Interest Payment		452,695.83
	Class A-2 Note Interest Payment		462,872.22
	Class A-3a Note Interest Payment		394,683.33
	Class A-3b Note Interest Payment		321,919.79
	Class A-4 Note Interest Payment		409,525.37


	(b)Swap Termination Payments		0.00

5.	Class B Note Interest Payment		80,756.85


6.	Class C Note Interest Payment		62,960.75



7.	Principal Payments on the Notes

	(i) Class A-1 Noteholders' principal payment		21,138,821.38
	Class A-2 Noteholders' principal payment		0.00
	Class A-3a Noteholders' principal payment		0.00
	Class A-3b Noteholders' principal payment		0.00
	Class A-4 Noteholders' principal payment		0.00


	(ii) Class B Noteholders' Monthly Principal Payable Amount		0.00

	(iii) Class C Noteholders' Monthly Principal Payable Amount		0.00

8.	Pay 50% of Excess Spread Amount as Principal on Notes		1,086,374.28

9.	Deposit to the Reserve Account, if any		0.00

10.	Previously unpaid trustee fees and expenses		0.00

11.	Released to Issuer		1,086,374.28

Payment Date:	7/20/2005	GE Commercial Equipment Financing LLC
Collection Period Ended:	6/30/2005	SERIES 2005-1
Closing Date:	6/16/2005
Next Payment Date:	8/22/2005	STATEMENT TO NOTEHOLDERS
Final Payment Date:	5/20/2016

Note Interest Payment Amounts
Class A-1 Interest Payment Amount

Interest Payment Due				452,695.83
Interest Paid				452,695.83
Cumulative Interest Shortfall Amount				0.00

Class A-2 Interest Payment Amount

Interest Payment Due				462,872.22
Interest Paid				462,872.22

Cumulative Interest Shortfall Amount				0.00
Class A-3A Interest Payment Amount

Interest Payment Due				394,683.33
Interest Paid				394,683.33

Cumulative Interest Shortfall Amount				0.00
Class A-3B Interest Payment Amount

Interest Payment Due				321,919.79
Interest Paid				321,919.79

Cumulative Interest Shortfall Amount				0.00
Class A-4 Interest Payment Amount

Interest Payment Due				409,525.37
Interest Paid				409,525.37

Cumulative Interest Shortfall Amount				0.00
Class B Interest Payment Amount

Interest Payment Due				80,756.85
Interest Paid				80,756.85

Cumulative Interest Shortfall Amount				0.00
Class C Interest Payment Amount

Interest Payment Due				62,960.75
Interest Paid				62,960.75

Cumulative Interest Shortfall Amount				0.00

Payment Date:	7/20/2005	GE Commercial Equipment Financing LLC
Collection Period Ended:	6/30/2005	SERIES 2005-1
Closing Date:	6/16/2005
Next Payment Date:	8/22/2005	STATEMENT TO NOTEHOLDERS
Final Payment Date:	5/20/2016

	Note Principal Payment Amounts

Class A-1 Principal Payment Amount
Class A-1 Principal Due		21,138,821.38
Class A-1 Principal Paid		21,138,821.38
Class A-1 Turbo Principal Paid		1,086,374.28
Class A-1 Total Principal Payment Amount			22,225,195.66

Class A-2 Principal Payment Amount
Class A-2 Principal Due		0.00
Class A-2 Principal Paid		0.00
Class A-2 Turbo Principal Paid		0.00
Class A-2 Total Principal Payment Amount			0.00

Class A-3A Principal Payment Amount
Class A-3A Principal Due		0.00
Class A-3A Principal Paid		0.00
Class A-3A Turbo Principal Paid		0.00
Class A-3A Total Principal Payment Amount			0.00

Class A-3B Principal Payment Amount
Class A-3B Principal Due		0.00
Class A-3B Principal Paid		0.00
Class A-3B Turbo Principal Paid		0.00
Class A-3B Total Principal Payment Amount			0.00

Class A-4 Principal Payment Amount
Class A-4 Principal Due		0.00
Class A-4 Principal Paid		0.00
Class A-4 Turbo Principal Paid		0.00
Class A-4 Total Principal Payment Amount			0.00

Class B Principal Payment Amount
Class B Principal Due		0.00
Class B Principal Paid		0.00
Class B Turbo Principal Paid		0.00
Class B Total Principal Payment Amount			0.00

Class C Principal Payment Amount
Class C Principal Due		0.00
Class C Principal Paid		0.00
Class C Turbo Principal Paid		0.00
Class C Total Principal Payment Amount			0.00

Payment Date:	7/20/2005	GE Commercial Equipment Financing LLC
Collection Period Ended:	6/30/2005	SERIES 2005-1
Closing Date:	6/16/2005
Next Payment Date:	8/22/2005	STATEMENT TO NOTEHOLDERS
Final Payment Date:	5/20/2016

			Reserve Account
					% of	% of
					Current Balance	Original Balance

Initial Reserve Account Deposit				13,408,272.59	2.12%	2.05%

Required Reserve Account Amount

Initial Aggregate Loan Value			654,062,077.56

Multiplied by			2.05%
Required Reserve Account Amount				13,408,272.59



Opening Reserve Account Balance				13,408,272.59	2.12%	2.05%
Withdrawals from the Reserve Account				0.00	0.00%	0.00%

Available Reserve Account Amount				13,408,272.59	2.12%	2.05%

Reserve Account Deficiency				0.00	0.00%	0.00%


Deposits to the Reserve Account				0.00	0.00%	0.00%

Ending Reserve Account Balance				13,408,272.59	2.12%	2.05%

Please note Investment Earnings of	15,694.19	have been deposited into Collections

Payment Date:	7/20/2005	GE Commercial Equipment Financing LLC
Collection Period Ended:	6/30/2005	SERIES 2005-1
Closing Date:	6/16/2005
Next Payment Date:	8/22/2005	STATEMENT TO NOTEHOLDERS
Final Payment Date:	5/20/2016

		Collateral Activity

Beginning Balance	654,062,077.56	Overcollateralization:
		Pool Balance	632,923,256.18
Principal Collections	(21,174,771.76)	Outstanding Principal Balance of Notes	631,836,804.34
Defaulted Receivables	0.00
Total Repurchased Contracts	0.00	Overcollateralization Amount	1,086,451.84
Adjustments	35,950.38
Recoveries	0.00	Interest Collections	4,464,560.28
Ending Balance	632,923,256.18	Total Collections	25,655,296.95

	Delinquency Summary

	Number of Accounts	Ending Loan Value

Delinquent <= 30 Days	1,024	632,778,471.45
Delinquent 31 - 60 Days	1	144,784.73
Delinquent 61 - 90 Days	0	0.00
Delinquent 91 - 120 Days	0	0.00
Delinquent 121 - 150 Days	0	0.00

Delinquent 151 - 180 Days	0	0.00
Delinquent 181 or more Days	0	0.00
Total	1,025	632,923,256.18

	Other Pool Activity

	Beginning	Current Period	Cumulative	Cumulative %
Aggregate amount of outstanding principal balance of Liquidated Loans
	0.00	0.00	0.00	0.00%
Portion of outstanding principal balance of loans written off in respect of Loans that became Defaulted Loans
	0.00	0.00	0.00	0.00%

Purchase Amount of Loans that became Purchased Loans in the current Collection Period pursuant to Section 2.4 of the Loan Purchase and Sale Agreement	0.00	0.00	0.00	0.00


Purchase Amount of Loans that became Purchased Loans in the current Collection Period pursuant to Section 7.2(b) of the Loan Purchase and Sale Agreement	0.00	0.00	0.00	0.00%


Defaulted Loans	0.00	0.00	0.00	0.00%

Recoveries	0.00	0.00	0.00	0.00%

Payment Date:	7/20/2005	GE Commercial Equipment Financing LLC
Collection Period Ended:	6/30/2005	SERIES 2005-1
Closing Date:	6/16/2005
Next Payment Date:	8/22/2005	STATEMENT TO NOTEHOLDERS
Final Payment Date:	5/20/2016

					Historical Detail

				Delinquencies
Payment	31-60 Days	61-90 Days	91-120 Days	121-150 Days	151-180 Days	181 + Days	Total
Date	# Balance	# Balance	# Balance	# Balance	# Balance	# Balance	# Balance
07/20/2005	1	0	0	0	0	0	1
	144,784.73	0.00	0.00	0.00	0.00	0.00	144,784.73

Payment Date:	7/20/2005	GE Commercial Equipment Financing LLC
Collection Period Ended:	6/30/2005	SERIES 2005-1
Closing Date:	6/16/2005
Next Payment Date:	8/22/2005	STATEMENT TO NOTEHOLDERS
Final Payment Date:	5/20/2016

					Historical Detail

						Performance
Payment	Liquidated	Aggregate Purchase	Defaulted	Pool		Data	Cumulative	Lifetime
Date	Loans	Amounts	Loans	Balance	Overcollateralization	Recoveries	Losses	CPR

07/20/2005	0.00	0.00	0.00	632,923,256.18	1,086,451.84	0.00	0.00	13.01%

- Values above represent cumulative amounts as of the corresponding Payment Date

CEF EQUIPMENT HOLDING GE COMMERCIAL EQUIP FIN SERIES 2005-1 8-K