
		Wachovia SBA Lending, Inc. Series 1999-1 Servicer’s Certificate		Record Date: 01/31/2005 Determination Date: 02/10/2005 Distribution Date: 02/15/2005

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

A		3.0500%		94,012,000.00		34,826,797.33		71,525.64		194,724.32	0.00		194,724.32		266,249.96		34,632,073.01
Factors per Thousand								0.76081394		2.07127090			2.07127090		2.83208484		368.37928147

M		3.5700%		2,888,000.00		1,067,895.87		2,567.12		5,988.30	0.00		5,988.30		8,555.42		1,061,907.57
Factors per Thousand								0.88889197		2.07351108			2.07351108		2.96240305		367.69652701

B		4.5500%		4,189,247.00		1,554,550.87		4,762.83		8,668.37	0.00		8,668.37		13,431.20		1,545,882.50
Factors per Thousand								1.13691792		2.06919525			2.06919525		3.20611317		369.01202054



*Pool*				101,089,247.00		37,449,244.07		78,855.59		209,380.99	0.00		209,380.99		288,236.58		37,239,863.08
*Totals*								0.78005913		2.07124888			2.07124888		2.85130801		368.38599738

Certificate Information


			Interest			Adjusted
			Distribution			Interest
	Accrued		Amount			Distribution		Remittance			Shortfall
Class	Interest		Adjustment			Amount		Rate			Amounts
A		88,518.00		(16,992.36	)		71,525.64		3.0500	%	0.00
M		3,177.00		(609.88	)		2,567.12		3.5700	%	0.00
B		5,894.40		(1,131.57	)		4,762.83		4.5500	%	0.00



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


		Wachovia SBA Lending, Inc. Series 1999-1 Servicer’s Certificate		Record Date: 01/31/2005 Determination Date: 02/10/2005 Distribution Date: 02/15/2005

Schedule of Remittance


Aggregate Amount Received	557,057.08
Amount Available in the Spread Account	1,804,616.69
Interest Earnings on Spread Account	2,234.90
Letter of Credit Available Amount	5,202,831.97
Monthly Advances	0.00
(Servicing Fee) *	(34,705.83	)
(Premium Protection Fee)	(34,954.66	)
(Unreimbursed Monthly Advances)	0.00

*Available Funds*	7,497,080.15


Bond Interest Distributed	78,855.59
Bond Principal Distributed	209,380.99
Escrow Fee	1,872.50
Specified Spread Account Requirement	1,949,436.88
Letter of Credit Available Amount	5,202,831.97
(Required for Spread Account)	0.00
Spread Excess Distributed to Spread Acct Depositor	54,702.22

	7,497,080.15

Collateral Information


Aggregate Beginning Principal Balance of Loans			37,449,244.07
Aggregate Ending Principal Balance of Loans			37,239,863.08
Principal Prepayments (Number / Amount)	2		16,485.01
Curtailments			39,604.82
Excess and Monthly Payments			153,291.16
Recoveries on Previous Realized Losses			73,003.81
Interest Received			274,672.28
Amount of Monthly Advance			0.00
Compensating Interest			654.35
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			1,949,436.88
Transfer from Spread Account to Certificate Account			0.00
Amount on Deposit in Spread Account after all required transfers			2,004,139.10
LOC Available Amount as a percentage of Pool Principal Balance			13.97	%
Excess Spread / Extra Interest	51,995.27		113,689.80
Weighted Average SBA Loan Interest Rate			7.0929	%
Weighted Average Maturity			174.992

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)		$	38,169.07

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


		Wachovia SBA Lending, Inc. Series 1999-1 Servicer’s Certificate		Record Date: 01/31/2005 Determination Date: 02/10/2005 Distribution Date: 02/15/2005

Exhibit K


	Outstanding Balance — Pool				37,239,863.08
	# Accounts				291


Delinquent Information	# Loans		Pool Amount		Pool %

Delinquent 1-29 Days		38		4,908,737.56	13.181	%
Delinquent 30-59 Days		4		700,130.39	1.880	%
Delinquent 60-89 Days		3		318,029.82	0.854	%
Delinquent 90-179		2		1,025,112.70	2.753	%
Delinquent 180-719		4		266,584.73	0.716	%
Delinquent 720 and Over		0		0.00	0.000	%
Loans in Foreclosure		0		0.00	0.000	%
REO Property		1		58,310.75	0.157	%

Totals		52		7,276,905.95	19.541	%


	Outstanding Balance — Gross				106,652,529.81
	# Accounts				291


Delinquent Information	# Loans		Gross Amount		Gross %

Delinquent 1-29 Days		38		13,560,003.28	12.714	%
Delinquent 30-59 Days		4		1,923,808.29	1.804	%
Delinquent 60-89 Days		3		1,162,325.40	1.090	%
Delinquent 90-179		2		2,190,785.58	2.054	%
Delinquent 180-719		4		1,066,338.05	1.000	%
Delinquent 720 and Over		0		0.00	0.000	%
Loans in Foreclosure		0		0.00	0.000	%
REO Property		1		233,242.52	0.219	%

Totals		52		20,136,503.12	18.881	%



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


		Wachovia SBA Lending, Inc. Series 1999-1 Servicer’s Certificate		Record Date: 01/31/2005 Determination Date: 02/10/2005 Distribution Date: 02/15/2005

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)			370		370		371		370
(iii)			0		0		0		0
(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)		2		2		2		2
	(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		2		2		2		2

(xii)			368		368		369		368


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


		Wachovia SBA Lending, Inc. Series 1999-1 Servicer’s Certificate		Record Date: 01/31/2005 Determination Date: 02/10/2005 Distribution Date: 02/15/2005

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

WACHOVIA SBA LENDING INC SERIES 1999-1 8-K