# EDGAR Filing Document

**Accession Number:** 0001965007
**File Stem:** 0001193125-23-031085
**Filing Date:** 2023-2
**Character Count:** 14132
**Document Hash:** cade670dd2d283ab502c1898b4e9a5ee
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-23-031085.hdr.sgml**: 20230210

**ACCESSION NUMBER**: 0001193125-23-031085

**CONFORMED SUBMISSION TYPE**: ABS-15G

**PUBLIC DOCUMENT COUNT**: 3

**CONFORMED PERIOD OF REPORT**: 20230210

**ITEM INFORMATION**: Findings and Conclusions of the Third Party Due Diligence Provider Obtained by the Issuer

**FILED AS OF DATE**: 20230210

**DATE AS OF CHANGE**: 20230210

**ABS RULE**: RULE-15GA2

**REGISTERED ENTITY**: N

**ABS ASSET CLASS**: Equipment loans

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Alliance Funding Group
- **CENTRAL INDEX KEY:** 0001965007
- **IRS NUMBER:** 330805823
- **STATE OF INCORPORATION:** CA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** ABS-15G
- **SEC ACT:** Dodd Frank Act
- **SEC FILE NUMBER:** 025-06404
- **FILM NUMBER:** 23608431

**BUSINESS ADDRESS:**
- **STREET 1:** 17542 17TH STREET, SUITE 200
- **CITY:** TUSTIN
- **STATE:** CA
- **ZIP:** 92780
- **BUSINESS PHONE:** 800-978-8817

**MAIL ADDRESS:**
- **STREET 1:** 17542 17TH STREET, SUITE 200
- **CITY:** TUSTIN
- **STATE:** CA
- **ZIP:** 92780
**DEPOSITOR**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Alliance Funding Group
- **CENTRAL INDEX KEY:** 0001965007
- **IRS NUMBER:** 330805823
- **STATE OF INCORPORATION:** CA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** ABS-15G
- **SEC ACT:** Dodd Frank Act

**BUSINESS ADDRESS:**
- **STREET 1:** 17542 17TH STREET, SUITE 200
- **CITY:** TUSTIN
- **STATE:** CA
- **ZIP:** 92780
- **BUSINESS PHONE:** 800-978-8817

**MAIL ADDRESS:**
- **STREET 1:** 17542 17TH STREET, SUITE 200
- **CITY:** TUSTIN
- **STATE:** CA
- **ZIP:** 92780

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**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION** 

**Washington, D.C. 20549** 

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**FORM ABS-15G** 

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**ASSET-BACKED SECURITIZER** 

**REPORT PURSUANT TO SECTION 15G OF** 

**THE SECURITIES EXCHANGE ACT OF 1934** 

**Check the appropriate box to indicate the filing obligation to which this form is intended to satisfy:** 

☐ **Rule 15Ga-1(c)(1) under the Exchange Act (17 CFR 240.15Ga-1(c)(1)) for the reporting period to** 

☐ **Rule 15Ga-1(c)(2)(i) under the Exchange Act (17 CFR 240.15Ga-1(c)(2)(i)) for the quarterly reporting period to** 

☐ **Rule 15Ga-1(c)(2)(ii) under the Exchange Act (17 CFR 240.15Ga-1(c)(2)(ii)) for the annual reporting period to** 

☒ **Rule 15Ga-2 under the Exchange Act (17 CFR 240.15Ga-2)** 

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## AFG ABS I, LLC
**(Exact name of Issuer as specified in its charter)** 

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Central Index Key Number of depositor: 0001965007

Central Index Key Number of issuing entity (if applicable): N/A

Central Index Key Number of underwriter (if applicable): N/A

**Brent Hall, 253-961-6000** 

**Name and telephone number, including area code,** 

**of the person to contact in connection with this filing** 

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Indicate by check mark whether the securitizer has no activity to report for the initial period pursuant to Rule 15Ga-1(c)(1) ☐

Indicate by check mark whether the securitizer has no activity to report for the quarterly period pursuant to Rule 15Ga-1(c)(2)(i) ☐

Indicate by check mark whether the securitizer has no activity to report for the annual period pursuant to Rule 15Ga-1(c)(2)(ii) ☐

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**INFORMATION TO BE INCLUDED IN THE REPORT** 

**PART I: REPRESENTATION AND WARRANTY INFORMATION** 

**N/A** 

**PART II: FINDINGS AND CONCLUSIONS OF THIRD-PARTY DUE DILIGENCE REPORTS:** 

**Item 2.01 Findings and Conclusions of a Third Party Due Diligence Report Obtained by the Issuer** 

The disclosures required by Rule 15Ga-2 (17 CFR 240.15Ga-2) are attached as Exhibit 99.1 to this Form ABS-15G.

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**SIGNATURES** 

Pursuant to the requirements of the Securities Exchange Act of 1934, the reporting entity has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | |
|:---|:---|
|  Alliance Funding Group<br> (Depositor) | Alliance Funding Group<br> (Depositor) |
|  By: | /s/ Brent Hall |
|  | Name: Brent Hall |
|  | Title: Senior Vice President |

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Date: February 10, 2023

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**EXHIBIT INDEX** 

Exhibit 99.1: [Independent Accountants' Report on Applying Agreed-Upon Procedures, dated February 7, 2023.](d442265dex991.htm)

## Exhibit 99.1

**Exhibit 99.1** 

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| | |
|:---|:---|
| ![LOGO](g442265g0210022545379.jpg) | **Deloitte & Touche LLP**<br> Suite 400<br> Harborside Plaza 10<br> Jersey City, NJ 07311<br> USA<br>Tel: +1 212 937 8200<br> Fax: +1 212 937 8298<br> www.deloitte.com |

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Alliance Funding Group

17542 17<sup>th</sup> Street, Suite 200

Tustin, California 92780

**Independent Accountants' Report** 

**<u>on Applying Agreed-Upon Procedures</u>**

We have performed the procedures described below, related to certain information with respect to a portfolio of equipment contracts in conjunction with the proposed offering of AFG ABS I, LLC Equipment Contract Backed Notes, Series 2023-1. Alliance Funding Group (the "Company") is responsible for the information provided to us, including the information set forth in the Statistical Data File (as defined herein).

The Company has agreed to the procedures and acknowledged that the procedures performed are appropriate to meet the intended purpose of evaluating the accuracy of certain information set forth in the Statistical Data File. Additionally, Truist Securities, Inc., ("Truist" and together, with the Company, the "Specified Parties") has agreed to the procedures and acknowledged that the procedures performed are appropriate for their purposes. This report may not be suitable for any other purpose. The procedures performed may not address all of the items of interest to a user of the report and may not meet the needs of all users of the report and, as such, users are responsible for determining whether the procedures performed are appropriate for their purposes. Consequently, we make no representations regarding the appropriateness of the procedures described below either for the purpose for which this report has been requested or for any other purpose.

**Agreed-Upon Procedures** 

On November 21, 2022, representatives of Truist, on behalf of the Company, provided us with a computer generated equipment contract data file and related record layout containing data, as represented to us by the Company, as of the close of business October 31, 2022, with respect to 1,529 equipment contracts (the "Statistical Data File").

At your instruction, we randomly selected 150 equipment contracts from the Statistical Data File (the "Sample Contracts") and performed certain comparisons and recomputations for each of the Sample Contracts relating to the equipment contract characteristics (the "Characteristics") set forth on the Statistical Data File and indicated below.

**Characteristics** 

1. Contract number (informational purposes only) 2. Obligor name 3. State (Equipment) 4. Monthly lease payment 5. Original contract term (months) 6. Purchase option 7. Equipment type 8. Equipment cost\* 9. Booked residual value

\* Inclusive of taxes, as applicable.

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We compared Characteristics 2. through 6. to the corresponding information set forth on or derived from the lease agreement or any amendments thereto (collectively, the "Lease Agreement") and Characteristics 7. and 8. to the Lease Agreement or "Invoice."

With respect to our comparison of Characteristic 9., for those Sample Contracts with a purchase option (as set forth on or derived from the Lease Agreement) of (i) "$1BUYOUT" or "EFA," we were instructed to observe a booked residual value of $0.00 on the Statistical Data File; (ii) "1PMTFMV," we were instructed to observe the booked residual value (as set forth on the Statistical Data File) was equal to the monthly lease payment (as set forth on the Lease Agreement); or (iii) "FMV" or "PUT," we were instructed to recompute the booked residual value as the product of (a) the equipment cost (as set forth on or derived from the Lease Agreement or Invoice) and (b) 10%. We compared such recalculated values to the corresponding information set forth on the Statistical Data File.

The equipment contract documents referred to above, including any information obtained from the indicated system, and any other documents used in support of the Characteristics were provided to us by representatives of the Company and are collectively referred to hereinafter as the "Equipment Documents." We were not requested to perform and we did not perform any procedures with respect to the preparation or verification of any of the information set forth on the Equipment Documents and we make no representations concerning the accuracy or completeness of any of the information contained therein. In certain instances, our procedures were performed using photocopies or data imaged facsimiles of the Equipment Documents. In addition, we make no representations as to whether the Equipment Documents are comprehensive or valid instruments or reflect the current prevailing terms with respect to the corresponding Sample Contracts.

**Agreed-Upon Procedures' Findings** 

The results of the foregoing procedures indicated that the Characteristics set forth on the Statistical Data File were found to be in agreement with the above-mentioned Equipment Documents, except as indicated in Appendix A. Supplemental information is contained in Appendix B.

\*\*\*\*\*\*

We make no representations as to the (i) actual characteristics or existence of the underlying documents or data comprising the equipment contracts underlying the Statistical Data File or the conformity of their characteristics with those assumed for purposes of the procedures described herein, (ii) existence or ownership of the equipment contracts or (iii) reasonableness of any of the aforementioned assumptions, information or methodologies.

It should be understood that we make no representations as to questions of legal interpretation or as to the sufficiency for your purposes of the procedures enumerated in the preceding paragraphs. Also, such procedures would not necessarily reveal any material misstatement of the information referred to above. We have no responsibility to update this report for events and circumstances that occur subsequent to the date of this report.

We were engaged by the Company to perform this agreed-upon procedures engagement and conducted our engagement in accordance with attestation standards established by the American Institute of Certified Public Accountants ("AICPA"). An agreed-upon procedures engagement involves the practitioner performing specific procedures that the engaging party has agreed to and acknowledged to be appropriate for the purpose of the engagement and reporting on findings based on the procedures performed. We were not engaged to conduct, and did not conduct, an (i) audit conducted in accordance with generally accepted auditing standards or (ii) examination or a review engagement conducted in accordance with attestation standards established by the AICPA, the objective of which would be the expression of an opinion or conclusion, respectively, on the Statistical Data File. Accordingly, we do not express such an opinion or conclusion, or any other form of assurance, including reasonable assurance. Had we performed additional procedures, other matters might have come to our attention that would have been reported to you.

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We are required to be independent of the Company and to meet our other ethical responsibilities, as applicable for agreed-upon procedures engagements set forth in the Preface: Applicable to All Members and Part 1 – Members in Public Practice of the Code of Professional Conduct established by the AICPA. Independence requirements for agreed-upon procedure engagements are less restrictive than independence requirements for audit and other attestation services.

None of the engagement, procedures or report was intended to address, nor did they address, the (i) conformity of the origination of the assets to stated underwriting or credit extension guidelines, standards, criteria or other requirements, (ii) value of collateral securing such assets or (iii) compliance of the originator of the assets with federal, state, and local laws and regulations.

None of the engagement, procedures or report were intended to satisfy, nor did they satisfy, any criteria for due diligence published by a nationally recognized statistical rating organization.

This report is intended solely for the information and use of the Specified Parties identified above and is not intended to be and should not be used by anyone other than these Specified Parties.

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| |
|:---|
|  Yours truly, |
|  /s/ Deloitte & Touche LLP |
|  February 7, 2023 |

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**Appendix A to Independent Accountants' Report on Applying Agreed-Upon Procedures issued by Deloitte & Touche LLP dated February 7, 2023.** 

In applying our agreed-upon procedures as outlined above, we observed the following:

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| | |
|:---|:---|
| **Exception<br>Description<br>Number** | **Exception Description** |
| 1 | One difference equipment type. |

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The information above reflects the procedures performed and is subject to the conditions set forth in the agreed-upon procedures report to which this appendix is attached.

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**Appendix B to Independent Accountants' Report on Applying Agreed-Upon Procedures issued by Deloitte & Touche LLP dated February 7, 2023** 

<u>Supplemental Information Related to the Findings Set Forth on Appendix A</u> 

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| | | | | |
|:---|:---|:---|:---|:---|
| **Exception**<br> **Description**<br> **Number** | **Sample**<br> **Contract**<br> **number** | **Characteristic** | **Characteristic set**<br> **forth on the**<br> **Statistical Data File** | **Characteristic set forth on**<br> **the Equipment Documents** |
| 1 | 22-16036 | Equipment type | No Equipment | Furniture and Fixtures Other |

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The information above reflects the procedures performed and is subject to the conditions set forth in the agreed-upon procedures report to which this appendix is attached.