EX-31.1

Exhibit 31.1

CERTIFICATION PURSUANT TO RULE 13a-14(a) OR RULE 15d-14(a)
OF THE SECURITIES EXCHANGE ACT OF 1934
AS ADOPTED PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Dean L. Cash, certify that:

1. I have reviewed this quarterly report on Form 10-Q of ATEL Capital Equipment Fund XI, LLC;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles,

c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: November 13, 2014

/s/ Dean L. Cash

Dean L. Cash
President and Chief Executive Officer of
ATEL Financial Services, LLC (Managing Member)

EX-31.2

Exhibit 31.2

CERTIFICATION PURSUANT TO RULE 13a-14(a) OR RULE 15d-14(a)
OF THE SECURITIES EXCHANGE ACT OF 1934
AS ADOPTED PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Paritosh K. Choksi, certify that:

1. I have reviewed this quarterly report on Form 10-Q of ATEL Capital Equipment Fund XI, LLC;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: November 13, 2014

/s/ Paritosh K. Choksi

Paritosh K. Choksi
Executive Vice President and Chief Financial Officer and Chief Operating
Officer of ATEL Financial Services, LLC (Managing Member)

EX-32.1

Exhibit 32.1

CERTIFICATION PURSUANT TO 18 U.S.C. §1350,
AS ADOPTED PURSUANT TO
§906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of ATEL Capital Equipment Fund XI, LLC (the “Company”) on Form 10-Q for the period ended September 30, 2014 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Dean L. Cash, President and Chief Executive Officer of ATEL Financial Services, LLC, Managing Member of the Company, hereby certify, pursuant to 18 U.S.C. §1350, as adopted pursuant to §906 of the Sarbanes-Oxley Act of 2002, that:

1. The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Date: November 13, 2014

/s/ Dean L. Cash

Dean L. Cash
President and Chief Executive Officer of
ATEL Financial Services, LLC (Managing Member)

A signed original of this written statement required by Section 906 has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.

EX-31.2

Exhibit 32.2

CERTIFICATION PURSUANT TO 18 U.S.C. §1350,
AS ADOPTED PURSUANT TO
§906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of ATEL Capital Equipment Fund XI, LLC (the “Company”) on Form 10-Q for the period ended September 30, 2014 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Paritosh K. Choksi, Executive Vice President and Chief Financial Officer and Chief Operating Officer of ATEL Financial Services, LLC, Managing Member of the Company, hereby certify, pursuant to 18 U.S.C. §1350, as adopted pursuant to §906 of the Sarbanes-Oxley Act of 2002, that:

1. The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Date: November 13, 2014

/s/ Paritosh K. Choksi

Paritosh K. Choksi
Executive Vice President and Chief Financial
Officer and Chief Operating Officer of
ATEL Financial Services, LLC (Managing Member)

A signed original of this written statement required by Section 906 has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.

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Non-Recourse Debt (Future Minimum Payments of Non-Recourse Debt) (Details) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2014
Principal
Three months ending December 31, 2014	$ 200
Year ending December 31, 2015	639
Long-term debt, total	839
Interest
Three months ending December 31, 2014	11
Year ending December 31, 2015	17
Long-term debt interest, total	28
Total
Three months ending December 31, 2014	211
Year ending December 31, 2015	656
Long-term debt principal and interest, total	$ 867

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Fair Value Measurements (Estimated Fair Values of Financial Instruments) (Details) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2014	Dec. 31, 2013
Financial assets:
Cash and cash equivalents	$ 2,301	$ 1,419
Notes receivable, net	380	518
Investment in securities	219	219
Financial liabilities:
Non-recourse debt	860	2,014
Level 1 Estimated Fair Value [Member]
Financial assets:
Cash and cash equivalents	2,301	1,419
Notes receivable, net
Investment in securities
Financial liabilities:
Non-recourse debt
Level 2 Estimated Fair Value [Member]
Financial assets:
Cash and cash equivalents
Notes receivable, net
Investment in securities
Financial liabilities:
Non-recourse debt
Level 3 Estimated Fair Value [Member]
Financial assets:
Notes receivable, net	380	518
Investment in securities	219	219
Financial liabilities:
Non-recourse debt	860	2,014
Carrying Amount [Member]
Financial assets:
Cash and cash equivalents	2,301	1,419
Notes receivable, net	380	518
Investment in securities	219	219
Financial liabilities:
Non-recourse debt	$ 839	$ 1,952

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Investment in Equipment and Leases, Net (Property on Operating Leases) (Details) (USD $) In Thousands, unless otherwise specified	9 Months Ended
	Sep. 30, 2014
Property Subject to or Available for Operating Lease [Line Items]
Balance December 31, 2013	$ 7,761
Additions	(1,094)
Reclassifications or Dispositions	(2,656)
Balance September 30, 2014	4,011
Transportation, Rail [Member]
Property Subject to or Available for Operating Lease [Line Items]
Balance December 31, 2013	11,163
Additions
Reclassifications or Dispositions	(187)
Balance September 30, 2014	10,976
Transportation, Other [Member]
Property Subject to or Available for Operating Lease [Line Items]
Balance December 31, 2013	4,409
Additions
Reclassifications or Dispositions	(2,627)
Balance September 30, 2014	1,782
Materials Handling [Member]
Property Subject to or Available for Operating Lease [Line Items]
Balance December 31, 2013	2,351
Additions
Reclassifications or Dispositions	(702)
Balance September 30, 2014	1,649
Aviation [Member]
Property Subject to or Available for Operating Lease [Line Items]
Balance December 31, 2013	1,658
Additions
Reclassifications or Dispositions
Balance September 30, 2014	1,658
Marine Vessels [Member]
Property Subject to or Available for Operating Lease [Line Items]
Balance December 31, 2013	1,415
Additions
Reclassifications or Dispositions
Balance September 30, 2014	1,415
Construction [Member]
Property Subject to or Available for Operating Lease [Line Items]
Balance December 31, 2013	758
Additions
Reclassifications or Dispositions	(260)
Balance September 30, 2014	498
Manufacturing [Member]
Property Subject to or Available for Operating Lease [Line Items]
Balance December 31, 2013	840
Additions
Reclassifications or Dispositions	(374)
Balance September 30, 2014	466
Mining [Member]
Property Subject to or Available for Operating Lease [Line Items]
Balance December 31, 2013	2,893
Additions
Reclassifications or Dispositions	(2,893)
Other Properties [Member]
Property Subject to or Available for Operating Lease [Line Items]
Balance December 31, 2013	11
Additions
Reclassifications or Dispositions
Balance September 30, 2014	11
Total Property Subject to or Available for Operating Lease [Member]
Property Subject to or Available for Operating Lease [Line Items]
Balance December 31, 2013	25,498
Additions
Reclassifications or Dispositions	(7,043)
Balance September 30, 2014	18,455
Less Accumulated Depreciation [Member]
Property Subject to or Available for Operating Lease [Line Items]
Balance December 31, 2013	(17,737)
Additions	(1,094)
Reclassifications or Dispositions	4,387
Balance September 30, 2014	$ (14,444)

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Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2014

Fair Value Measurements [Abstract]

Fair Value Measurement of Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis

The following table presents the fair value measurement of impaired assets measured at fair value on a non-recurring basis and the level within the hierarchy in which the fair value measurements fall at December 31, 2013 (in thousands):

		December 31, 2013		Level 1 Estimated Fair Value		Level 2 Estimated Fair Value		Level 3 Estimated Fair Value
Assets measured at fair value on a non-recurring basis:
Impaired off-lease equipment	$	6	$	-	$	-	$	6

Summary of Valuation Techniques and Significant Unobservable Inputs Used

The following table summarizes the valuation techniques and significant unobservable inputs used for the Company’s non-recurring fair value adjustments categorized as Level 3 in the fair value hierarchy at December 31, 2013:

Name	Valuation Frequency	Valuation Technique	Unobservable Inputs	Range of Input Values
Off-lease Equipment	Non-recurring	Market Approach	Third Party Agents' Pricing     Quotes - per equipment	$600 (total of $6,000)
			Equipment Condition	Poor to Average

Estimated Fair Values of Financial Instruments

The following tables present estimated fair values of the Company’s financial instruments at September 30, 2014 and December 31, 2013 (in thousands):

		Fair Value Measurements at September 30, 2014
		Carrying Value		Level 1		Level 2		Level 3		Total
Financial assets:
Cash and cash equivalents	$	2,301	$	2,301	$	-	$	-	$	2,301
Notes receivable, net		380		-		-		380		380
Investment in securities		219		-		-		219		219
Financial liabilities:
Non-recourse debt		839		-		-		860		860

		Fair Value Measurements at December 31, 2013
		Carrying Value		Level 1		Level 2		Level 3		Total
Financial assets:
Cash and cash equivalents	$	1,419	$	1,419	$	-	$	-	$	1,419
Notes receivable, net		518		-		-		518		518
Investment in securities		219		-		-		219		219
Financial liabilities:
Non-recourse debt		1,952		-		-		2,014		2,014

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Members' Capital (Distributions to Other Members) (Details) (USD $) In Thousands, except Share data, unless otherwise specified	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013
Members' Capital [Abstract]
Distributions			$ 781	$ 2,409	$ 3,190
Weighted average number of Units outstanding	5,209,307	5,209,307	5,209,307	5,209,307
Weighted average distributions per Unit			$ 0.15	$ 0.46	$ 0.61

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Related Party Transactions (Affiliates Earned Commissions and Billed for Reimbursements Pursuant to Operating Agreement (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Related Party Transactions [Abstract]
Costs reimbursements to Managing Member and/or affiliates	$ 53	$ 81	$ 170	$ 242
Asset management fees to Managing Member and/or affiliates	45	51	121	181
Related party transaction, total	$ 98	$ 132	$ 291	$ 423

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Summary of Significant Accounting Policies

9 Months Ended

Sep. 30, 2014

Summary of Significant Accounting Policies [Abstract]

Summary of Significant Accounting Policies

2.  Summary of significant accounting policies:

Basis of presentation:

The accompanying unaudited financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and with the instructions to Form 10-Q as mandated by the Securities and Exchange Commission. The unaudited interim financial statements reflect all adjustments which are, in the opinion of the Managing Member, necessary for a fair statement of financial position and results of operations for the interim periods presented. All such adjustments are of a normal recurring nature. Operating results for the three and nine months ended September 30, 2014 are not necessarily indicative of the results to be expected for the full year. 

Certain prior period amounts may have been reclassified to conform to the current period presentation. These reclassifications had no significant effect on the reported financial position or results of operations.

Footnote and tabular amounts are presented in thousands, except as to Units and per Unit data.

In preparing the accompanying unaudited financial statements, the Managing Member has reviewed events that have occurred after September 30, 2014 up until the issuance of the financial statements. No events were noted which would require additional disclosure in the footnotes to the financial statements, or adjustments thereto.

Use of estimates:

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Such estimates primarily relate to the determination of residual values at the end of the lease term and expected future cash flows used for impairment analysis purposes and for determination of the allowance for doubtful accounts and reserve for credit losses on notes receivable.

Equipment on operating leases and related revenue recognition:

Equipment subject to operating leases is stated at cost. Depreciation is being recognized on a straight-line method over the terms of the related leases to the equipment’s estimated residual values. Off-lease equipment is generally not subject to depreciation. The Company depreciates all lease assets, in accordance with guidelines consistent with ASC 840-20-35-3, over the periods of the lease terms contained in each asset’s respective lease contract to the estimated residual value at the end of the lease contract. All lease assets are purchased only concurrent with the execution of a lease commitment by the lessee. Thus, the original depreciation period corresponds with the term of the original lease. Once the term of an original lease contract is completed, the subject property is typically sold to the existing user, re-leased to the existing user, or, when off-lease, is held for sale. Assets which are re-leased continue to be depreciated using the terms of the new lease agreements and the estimated residual values at the end of the new lease terms, adjusted downward as necessary. Assets classified as held-for-sale are carried at the lower of carrying amount, or the fair value less cost to sell (ASC 360-10-35-43).

The Company does not use the equipment held in its portfolio, but holds it solely for lease and ultimate sale. In the course of marketing equipment that has come off-lease, management may determine at some point that re-leasing the assets may provide a superior return for investors and would then execute another lease. Upon entering into a new lease contract, management will estimate the residual value once again and resume depreciation. If, and when, the Company, at any time, determines that depreciation in value may have occurred with respect to an asset held-for-sale, the Company would review the value to determine whether a material reduction in value had occurred and recognize any appropriate impairment. All lease assets, including off-lease assets, are subject to the Company’s quarterly impairment analysis, as described in Note 4. Maintenance costs associated with the Fund’s portfolio of leased assets are expensed as incurred. Major additions and betterments are capitalized.

Operating lease revenue is recognized on a straight-line basis over the term of the underlying leases. The initial lease terms will vary as to the type of equipment subject to the leases, the needs of the lessees and the terms to be negotiated, but initial leases are generally on terms from 36 to 120 months. The difference between rent received and rental revenue recognized is recorded as unearned operating lease income on the balance sheet.

Operating leases are generally placed in a non-accrual status (i.e., no revenue is recognized) when payments are more than 90 days past due. Additionally, management considers the equipment underlying the lease contracts for impairment and periodically reviews the credit worthiness of all operating lessees with payments outstanding less than 90 days. Based upon management’s judgment, the related operating leases may be placed on non-accrual status. Leases placed on non-accrual status are only returned to an accrual status when the account has been brought current and management believes recovery of the remaining unpaid lease payments is probable. Until such time, revenues are recognized on a cash basis.

Segment reporting:

The Company is not organized by multiple operating segments for the purpose of making operating decisions or assessing performance. Accordingly the Company operates in one reportable operating segment in the United States.

The primary geographic regions in which the Company seeks leasing opportunities are North America and Europe. The table below summarizes geographic information relating to the sources, by nation, of the Company’s total revenues for the nine months ended September 30, 2014 and 2013 and long-lived assets as of September 30, 2014 and December 31, 2013 (dollars in thousands):

		For The Nine Months Ended September 30,
		2014	% of Total		2013	% of Total
Revenue
United States	$	3,168	99%	$	3,518	98%
United Kingdom		37	1%		88	2%
Total International		37	1%		88	2%
Total	$	3,205	100%	$	3,606	100%
		As of September 30,			As of December 31,
		2014	% of Total		2013	% of Total
Long-lived assets
United States	$	4,100	100%	$	7,968	100%
United Kingdom		5	0%		6	0%
Total International		5	0%		6	0%
Total	$	4,105	100%	$	7,974	100%

Investment in securities:

From time to time, the Company may purchase securities of its borrowers or receive warrants to purchase securities in connection with its lending arrangements.

Purchased securities

Purchased securities are generally not registered for public sale and are carried at cost. Such securities are adjusted to fair value if the fair value is less than the carrying value and such impairment is deemed by the Managing Member to be other than temporary. Factors considered by the Managing Member in determining fair value include, but are not limited to, available financial information, the issuer’s ability to meet its current obligations and indications of the issuer’s subsequent ability to raise capital. Based upon the Company’s review of its portfolio, no fair value adjustment was deemed necessary for the three and nine months ended September 30, 2014 and 2013.

Warrants

Warrants owned by the Company are not registered for public sale, but are considered derivatives and are reflected at an estimated fair value on the balance sheet as determined by the Managing Member. At September 30, 2014 and 2013, the Managing Member estimated the fair value of the warrants to be nominal in amount. Net gains recognized on the net exercise of certain warrants totaled $1 thousand for the three months ended September 30, 2014. By comparison, there were no such gains recognized during the prior year period. During the nine months ended September 30, 2014 and 2013, net gains realized on the net exercise of warrants totaled $30 thousand and $3 thousand, respectively.  

Foreign currency transactions:

Foreign currency transaction gains and losses are reported in the results of operations as “other income” or “other loss” in the period in which they occur. Currently, the Company does not use derivative instruments to hedge its economic exposure with respect to assets, liabilities and firm commitments as the foreign currency transactions risks to date have not been significant. The Company’s foreign currency translations gains and losses were nominal during the three months and nine months ended September 30, 2014 and 2013.

Per Unit data:

Net income and distributions per Unit are based upon the weighted average number of Other Members’ Units outstanding during the period.

Recent accounting pronouncements:

In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”), which amends the existing accounting standards for revenuerecognition. ASU 2014-09 is based on principles that govern the recognition of revenue at an amount an entity expects to be entitled when products are transferred to customers. ASU 2014-09 is effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. Early adoption is not permitted. The new revenue standard may be applied retrospectively to each prior period presented or retrospectively with the cumulative effect recognized as of the date of adoption. The Company evaluated the impact of the new standard on its financial statements and has determined that such impact is virtually non-existent as the new revenue guideline does not affect revenues from leases and loans, which comprise the majority of the Company’s revenues.

In August 2014, the FASB issued Accounting Standards Update 2014-15, Presentation of Financial Statements – Going Concern (subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. The new standard provides guidance relative to management's responsibility to evaluate whether there is substantial doubt about an entity's ability to continue as a going concern and to provide related footnote disclosures. The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2016. Early adoption is permitted. Management is currently evaluating the standard and its operational and related disclosure requirements.

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Fair Value Measurements (Narrative) (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2013	Sep. 30, 2013	Dec. 31, 2013
Fair Value Measurements [Abstract]
Impairment losses on equipment	$ 39	$ 52	$ 0

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Notes Receivable, Net (Narrative) (Details)	9 Months Ended	12 Months Ended
	Sep. 30, 2014	Dec. 31, 2013
Notes Receivable, Net [Abstract]
Notes receivable, interest rate	8.51%	8.51%
Notes maturity period	2016	2016

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Summary of Significant Accounting Policies (Summary of Geographic Information Relating to Sources, by Nation, of Partnership's Total Revenue and Long-Lived Assets) (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$ 1,290	$ 1,095	$ 3,205	$ 3,606
Percentage of total revenue			100.00%	100.00%
Long-lived assets	4,105		4,105		7,974
Percentage of long lived assets	100.00%		100.00%		100.00%
United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues			3,168	3,518
Percentage of total revenue			99.00%	98.00%
Long-lived assets	4,100		4,100		7,968
Percentage of long lived assets	100.00%		100.00%		100.00%
United Kingdom [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues			37	88
Percentage of total revenue			1.00%	2.00%
Long-lived assets	5		5		6
Percentage of long lived assets	0.00%		0.00%		0.00%
Total International [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues			37	88
Percentage of total revenue			1.00%	2.00%
Long-lived assets	$ 5		$ 5		$ 6
Percentage of long lived assets	0.00%		0.00%		0.00%

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Fair Value Measurements (Fair Value Measurement of Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis) (Details) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2013
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired lease and off-lease equipment	$ 6
Level 1 Estimated Fair Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired lease and off-lease equipment
Level 2 Estimated Fair Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired lease and off-lease equipment
Level 3 Estimated Fair Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired lease and off-lease equipment	$ 6

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Notes Receivable, Net (Minimum Future Payments Receivable) (Details) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2014	Dec. 31, 2013
Notes Receivable, Net [Abstract]
Three months ending December 31, 2014	$ 55
Year ending December 31, 2015	166
2016	188
Financing receivable, gross	409
Less: portion representing unearned interest income	(29)	(57)
Notes receivable, net	$ 380	$ 518

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Investment in Equipment and Leases, Net (Narrative) (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013
Investment in Equipment and Leases, Net [Abstract]
Impairment losses on equipment		$ 39		$ 52	$ 0
Depreciation of operating lease assets	353	441	1,094	1,647
Amortization of initial direct costs	$ 3	$ 5	$ 12	$ 15
Average estimated residual value of assets on operating leases	15.00%		15.00%		21.00%

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Organization and Limited Liability Company Matters

9 Months Ended

Sep. 30, 2014

Organization and Limited Liability Company Matters [Abstract]

Organization and Limited Liability Company Matters

1.  Organization and Limited Liability Company matters:

ATEL Capital Equipment Fund XI, LLC (the “Company” or the “Fund”) was formed under the laws of the State of California on June 25, 2004. The Company was formed for the purpose of acquiring equipment to engage in equipment leasing, lending and sales activities. Also, from time to time, the Company may purchase securities of its borrowers or receive warrants to purchase securities in connection with its lending arrangements. The Managing Member or Manager of the Company is ATEL Financial Services, LLC (“AFS”), a California limited liability company. The Company may continue until December 31, 2025. Each Member’s personal liability for obligations of the Company generally will be limited to the amount of their respective contributions and rights to undistributed profits and assets of the Company.

The Company conducted a public offering of 15,000,000 Limited Liability Company Units (“Units”), at a price of $10 per Unit. On May 31, 2005, subscriptions for the minimum number of Units (120,000, representing $1.2 million) had been received and AFS requested that the subscriptions be released to the Company. On that date, the Company commenced operations in its primary business (acquiring equipment to engage in equipment leasing, lending and sales activities). As of July 13, 2005, the Company had received subscriptions for 958,274 Units ($9.6 million), thus exceeding the $7.5 million minimum requirement for Pennsylvania, and AFS requested that the remaining funds in escrow (from Pennsylvania investors) be released to the Company. The Company terminated sales of Units effective April 30, 2006. Life-to-date net contributions through September 30, 2014 totaled $52.2 million, consisting of approximately $52.8 million in gross contributions from Other Members purchasing Units under the public offering less rescissions and repurchases (net of distributions paid and allocated syndication costs, as applicable) of $636 thousand. As of September 30, 2014,5,209,307 Units were issued and outstanding.  

The Company’s principal objectives are to invest in a diversified portfolio of equipment that (i) preserves, protects and returns the Company’s invested capital; (ii) generates regular distributions to the Members of cash from operations and cash from sales or refinancing, with any balance remaining after certain minimum distributions to be used to purchase additional equipment during the reinvestment period (“Reinvestment Period”) (defined as six full years following the year the offering was terminated), which ended December 31, 2012, and (iii) provides additional distributions following the Reinvestment Period and until all equipment has been sold. The Company is governed by its Limited Liability Company Operating Agreement (“Operating Agreement”), as amended. On January 1, 2013, the Company commenced liquidation phase activities pursuant to the guidelines of the Operating Agreement.

Pursuant to the terms of the Operating Agreement, AFSreceives compensation for services rendered and reimbursements for costs incurred on behalf of the Company (See Note 5). The Company is required to maintain reasonable cash reserves for working capital, the repurchase of Units and contingencies. The repurchase of Units is solely at the discretion of AFS.

The Company’s unaudited interim financial statements should be read in conjunction with the financial statements and notes thereto contained in the report on Form 10-K for the year ended December 31, 2013, filed with the Securities and Exchange Commission.

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Investment in Equipment and Leases, Net (Investment in Leases) (Details) (USD $) In Thousands, unless otherwise specified	9 Months Ended
	Sep. 30, 2014
Leases Disclosure [Line Items]
Balance December 31, 2013	$ 7,974
Reclassifications, Additions/ Dispositions and Impairment Losses	(2,707)
Depreciation/ Amortization Expense or Amortization of Leases	(1,162)
Balance September 30, 2014	4,105
Initial direct costs, accumulated amortization	27
Operating Leases [Member]
Leases Disclosure [Line Items]
Balance December 31, 2013	7,761
Reclassifications, Additions/ Dispositions and Impairment Losses	(2,656)
Depreciation/ Amortization Expense or Amortization of Leases	(1,094)
Balance September 30, 2014	4,011
Direct Financing Leases [Member]
Leases Disclosure [Line Items]
Balance December 31, 2013	131
Reclassifications, Additions/ Dispositions and Impairment Losses	(12)
Depreciation/ Amortization Expense or Amortization of Leases	(56)
Balance September 30, 2014	63
Assets Held-for-sale or Lease[Member]
Leases Disclosure [Line Items]
Balance December 31, 2013	43
Reclassifications, Additions/ Dispositions and Impairment Losses	(39)
Balance September 30, 2014	4
Initial Direct Cost [Member]
Leases Disclosure [Line Items]
Balance December 31, 2013	39
Depreciation/ Amortization Expense or Amortization of Leases	(12)
Balance September 30, 2014	$ 27

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Commitments (Narrative) (Details) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2014
Commitments [Abstract]
Commitments to purchase lease assets or fund loans	$ 0

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Balance Sheets (USD $) In Thousands, unless otherwise specified	Sep. 30, 2014	Dec. 31, 2013
ASSETS
Cash and cash equivalents	$ 2,301	$ 1,419
Accounts receivable, net of allowance for doubtful accounts of $0 as of September 30, 2014 and $2 as of December 31, 2013	2,117	139
Notes receivable, net of unearned interest income of $29 as of September 30, 2014 and $57 as of December 31, 2013	380	518
Investment in securities	219	219
Investments in equipment and leases, net of accumulated depreciation of $14,515 as of September 30, 2014 and $18,094 as of December 31, 2013	4,105	7,974
Prepaid expenses and other assets	33	30
Total assets	9,155	10,299
Accounts payable and accrued liabilities:
Managing Member	9	73
Accrued distributions to Other Members		781
Other	189	157
Non-recourse debt	839	1,952
Unearned operating lease income	166	112
Total liabilities	1,203	3,075
Commitments and contingencies
Members' capital:
Managing Member
Other Members	7,952	7,224
Total Members' capital	7,952	7,224
Total liabilities and Members' capital	$ 9,155	$ 10,299

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Fair Value Measurements (Summary of Valuation Techniques and Significant Unobservable Inputs Used) (Details) (Fair Value, Measurements, Nonrecurring [Member], Market Approach Valuation Technique [Member], Off-Lease Equipment [Member], USD $)	Dec. 31, 2013
Fair Value, Measurements, Nonrecurring [Member] | Market Approach Valuation Technique [Member] | Off-Lease Equipment [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair value inputs, third party agents' pricing quotes per equipment	$ 600
Fair value inputs third party agents' pricing quotes, total	$ 6,000

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Statements of Changes in Members' Capital (Parenthetical) (USD $)	9 Months Ended		12 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013
Statements of Changes in Members' Capital [Abstract]
Distributions to Other Members, per unit	$ 0.15	$ 0.46	$ 0.61

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Investment in Equipment and Leases, Net (Future Minimum Lease Payments Receivable) (Details) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2014
Operating Leases
Three months ending December 31, 2014	$ 526
Year ending December 31, 2015	1,300
2016	554
2017	484
2018	114
2019	24
Thereafter	1
Operating leases, future minimum payments, receivable, total	3,003
Direct Financing Leases
Three months ending December 31, 2014	17
Year ending December 31, 2015	46
2016	11
2017
2018
2019
Thereafter
Direct financing leases, future minimum payments, receivable, total	74
Total
Three months ending December 31, 2014	543
Year ending December 31, 2015	1,346
2016	565
2017	484
2018	114
2019	24
Thereafter	1
Operating and direct financing leases, future minimum payments, receivable, total	$ 3,077

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Related Party Transactions (Tables)

9 Months Ended

Sep. 30, 2014

Related Party Transactions [Abstract]

Affiliates Earned Commissions and Billed for Reimbursements Pursuant to Operating Agreement

AFS and/or affiliates earned fees and billed for reimbursements pursuant to the Operating Agreement as follows during each of the three and nine months ended September 30, 2014 and 2013 (in thousands):

		Three Months Ended				Nine Months Ended
		September 30,				September 30,
		2014		2013		2014		2013
Costs reimbursed to Managing Member and/or affiliates	$	53	$	81	$	170	$	242
Asset management fees to Managing Member and/or affiliates		45		51		121		181
	$	98	$	132	$	291	$	423

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Investment in Equipment and Leases, Net (Schedule of Useful Lives of Lease Assets) (Details)	9 Months Ended
	Sep. 30, 2014
Minimum [Member] | Transportation, Rail [Member]
Property Subject To Or Available For Operating Lease [Line Items]
Useful lives of lease assets	35 years
Minimum [Member] | Aviation [Member]
Property Subject To Or Available For Operating Lease [Line Items]
Useful lives of lease assets	15 years
Minimum [Member] | Marine Vessels [Member]
Property Subject To Or Available For Operating Lease [Line Items]
Useful lives of lease assets	20 years
Minimum [Member] | Construction [Member]
Property Subject To Or Available For Operating Lease [Line Items]
Useful lives of lease assets	7 years
Minimum [Member] | Manufacturing [Member]
Property Subject To Or Available For Operating Lease [Line Items]
Useful lives of lease assets	10 years
Minimum [Member] | Mining [Member]
Property Subject To Or Available For Operating Lease [Line Items]
Useful lives of lease assets	10 years
Minimum [Member] | Materials Handling [Member]
Property Subject To Or Available For Operating Lease [Line Items]
Useful lives of lease assets	7 years
Minimum [Member] | Transportation, Other [Member]
Property Subject To Or Available For Operating Lease [Line Items]
Useful lives of lease assets	7 years
Maximum [Member] | Transportation, Rail [Member]
Property Subject To Or Available For Operating Lease [Line Items]
Useful lives of lease assets	40 years
Maximum [Member] | Aviation [Member]
Property Subject To Or Available For Operating Lease [Line Items]
Useful lives of lease assets	20 years
Maximum [Member] | Marine Vessels [Member]
Property Subject To Or Available For Operating Lease [Line Items]
Useful lives of lease assets	30 years
Maximum [Member] | Construction [Member]
Property Subject To Or Available For Operating Lease [Line Items]
Useful lives of lease assets	10 years
Maximum [Member] | Manufacturing [Member]
Property Subject To Or Available For Operating Lease [Line Items]
Useful lives of lease assets	15 years
Maximum [Member] | Mining [Member]
Property Subject To Or Available For Operating Lease [Line Items]
Useful lives of lease assets	15 years
Maximum [Member] | Materials Handling [Member]
Property Subject To Or Available For Operating Lease [Line Items]
Useful lives of lease assets	10 years
Maximum [Member] | Transportation, Other [Member]
Property Subject To Or Available For Operating Lease [Line Items]
Useful lives of lease assets	10 years

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Members' Capital (Tables)

9 Months Ended

Sep. 30, 2014

Members' Capital [Abstract]

Distributions to Other Members

Distributions to the Other Members were as follows (in thousands, except as to Units and per Unit data):  

		Three Months Ended				Nine Months Ended
		September 30,				September 30,
		2014		2013		2014		2013
Distributions	$	-	$	-	$	781	$	2,409
Weighted average number of Units outstanding		5,209,307		5,209,307		5,209,307		5,209,307
Weighted average distributions per Unit	$	-	$	-	$	0.15	$	0.46

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Statements of Cash Flows (USD $) In Thousands, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Operating activities:
Net income	$ 788	$ 401	$ 1,573	$ 1,165
Adjustment to reconcile net income to cash provided by operating activities:
Gain on sales of lease assets and early termination of notes	(481)	(98)	(625)	(194)
Depreciation of operating lease assets	353	441	1,094	1,647
Amortization of initial direct costs	3	5	12	15
Impairment losses on equipment		39		52
(Reversal of) provision for credit losses	(1)	2	(2)	(3)
Gain on sales or dispositions of securities	(1)		(30)	(3)
Changes in operating assets and liabilities:
Accounts receivable	(61)	(56)	(68)	(57)
Prepaid expenses and other assets	(7)	(7)	(3)	(1)
Accounts payable, Managing Member	19	12		(69)
Accounts payable, other	69	(2)	32	(218)
Unearned operating lease income	146	146	54	42
Net cash provided by operating activities	827	883	2,037	2,376
Investing activities:
Purchase of securities				(8)
Proceeds from sales of lease assets and early termination of notes	94	277	1,424	999
Proceeds from sales or dispositions of securities	30		30	11
Principal payments received on direct financing leases	12	37	56	135
Principal payments received on notes receivable	47	61	138	179
Net cash provided by investing activities	183	375	1,648	1,316
Financing activities:
Repayments under non-recourse debt	(363)	(425)	(1,113)	(1,269)
Net cash used in financing activities	(1,208)	(1,021)	(2,803)	(4,469)
Net (decrease) increase in cash and cash equivalents	(198)	237	882	(777)
Cash and cash equivalents at beginning of period	2,499	488	1,419	1,502
Cash and cash equivalents at end of period	2,301	725	2,301	725
Supplemental disclosures of cash flow information:
Cash paid during the period for interest	15	36	61	125
Cash paid during the period for taxes	5		34	32
Schedule of non-cash transactions:
Amount due from sale of lease assets	1,908		1,908
Other Members [Member]
Operating activities:
Net income			1,509
Financing activities:
Distributions to Members	(781)	(551)	(1,562)	(2,960)
Managing Member [Member]
Operating activities:
Net income			64
Financing activities:
Distributions to Members	$ (64)	$ (45)	$ (128)	$ (240)

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Balance Sheets (Parenthetical) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2014	Dec. 31, 2013
Balance Sheets [Abstract]
Accounts receivable, allowance for doubtful accounts	$ 0	$ 2
Notes receivable, unearned interest income	29	57
Investments in equipment and leases, accumulated depreciation	$ 14,515	$ 18,094

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Fair Value Measurements

9 Months Ended

Sep. 30, 2014

Fair Value Measurements [Abstract]

Fair Value Measurements

10. Fair value measurements:

Fair value measurements and disclosures are based on a fair value hierarchy as determined by significant inputs used to measure fair value. The three levels of inputs within the fair value hierarchy are defined as follows:

Level 1 – Quoted prices in active markets for identical assets or liabilities. An active market for the asset or liability is a market in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis, generally on a national exchange.

Level 2 – Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuations in which all significant inputs are observable in the market.

Level 3 – Valuation is modeled using significant inputs that are unobservable in the market. These unobservable inputs reflect the Company's own estimates of assumptions that market participants would use in pricing the asset or liability.

The Company had no assets or liabilities requiring measurement at fair value on a recurring or non-recurring basis at September 30, 2014.

No assets or liabilities required measurement at fair value on a recurring basis at December 31, 2013; however, the Company recorded non-recurring adjustments to reflect the fair values of certain impaired lease and off-lease assets during 2013. Amounts at December 31, 2013 reflect the fair value of the then existing impaired assets.

The Company’s valuation policy is determined by members of the Asset Management, Credit and Accounting departments. Whenever possible, the policy is to obtain quoted market prices in active markets to estimate fair values for recognition and disclosure purposes. Where quoted market prices in active markets are not available, fair values are estimated using discounted cash flow analyses, broker quotes, information from third party remarketing agents, third party appraisals of collateral and/or other valuation techniques. These techniques are significantly affected by certain of the Company’s assumptions, including discount rates and estimates of future cash flows. Potential taxes and other transaction costs are not considered in estimating fair values. As the Company is responsible for determining fair value, an analysis is performed on prices obtained from third parties. Such analysis is performed by asset management and credit department personnel who are familiar with the Company’s investments in equipment, notes receivable and equity securities of venture companies. The analysis may include a periodic review of price fluctuations and validation of numbers obtained from a specific third party by reference to multiple representative sources.

Such fair value adjustments utilized the following methodology:

Impaired operating lease and off-lease equipment

The Company had no fair value adjustments relative to impaired equipment during the three and nine months ended September 30, 2014. By comparison, during the three and nine months ended September 30, 2013, $39 thousand and $52 thousand of fair value adjustments have been recorded to reduce the cost basis of certain impaired equipment. No additional fair value adjustments were recorded through December 31, 2013. Under the Fair Value Measurements Topic of the FASB Accounting Standards Codification, the fair value of impaired lease assets are classified within Level 3 of the valuation hierarchy as the data sources utilized for the valuation of such assets reflect significant inputs that are unobservable in the market. Such valuation utilizes a market approach technique and uses inputs that reflect the sales price of similar assets sold by affiliates and/or information from third party remarketing agents not readily available in the market.

The following table presents the fair value measurement of impaired assets measured at fair value on a non-recurring basis and the level within the hierarchy in which the fair value measurements fall at December 31, 2013 (in thousands):

		December 31, 2013		Level 1 Estimated Fair Value		Level 2 Estimated Fair Value		Level 3 Estimated Fair Value
Assets measured at fair value on a non-recurring basis:
Impaired off-lease equipment	$	6	$	-	$	-	$	6

The following table summarizes the valuation techniques and significant unobservable inputs used for the Company’s non-recurring fair value adjustments categorized as Level 3 in the fair value hierarchy at December 31, 2013:

Name	Valuation Frequency	Valuation Technique	Unobservable Inputs	Range of Input Values
Off-lease Equipment	Non-recurring	Market Approach	Third Party Agents' Pricing     Quotes - per equipment	$600 (total of $6,000)
			Equipment Condition	Poor to Average

The following disclosure of the estimated fair value of financial instruments is made in accordance with the guidance provided by the Financial Instruments Topic of the FASB Accounting Standards Codification. Fair value estimates, methods and assumptions, set forth below for the Company’s financial instruments, are made solely to comply with the requirements of the Financial Instruments Topic and should be read in conjunction with the Company’s financial statements and related notes.  

The Company has determined the estimated fair value amounts by using market information and valuation methodologies that it considers appropriate and consistent with the fair value accounting guidance. Considerable judgment is required to interpret market data to develop the estimates of fair value. The use of different market assumptions and/or estimation methodologies may have a material effect on the estimated fair value amounts.

Cash and cash equivalents

The recorded amounts of the Company’s cash and cash equivalents approximate fair value because of the liquidity and short-term maturity of these instruments.

Notes receivable

The fair value of the Company’s notes receivable is generally estimated based upon various methodologies deployed by financial and credit management including, but not limited to, credit analysis, third party appraisal and/or discounted cash flow analysis based upon current market valuation techniques and market rates for similar types of lending arrangements, which may consider adjustments for impaired loans as deemed necessary.

Investment in securities

The Company’s investment securities are not registered for public sale and are carried at cost which management believes approximates fair value, as appropriately adjusted for impairment.

Non-recourse debt

The fair value of the Company’s non-recourse debt is estimated using discounted cash flow analyses, based upon the current market borrowing rates for similar types of borrowing arrangements.

Commitments and Contingencies

Management has determined that no recognition for the fair value of the Company’s loan commitments is necessary because their terms are made on a market rate basis and require borrowers to be in compliance with the Company’s credit requirements at the time of funding.

The fair value of contingent liabilities (or guarantees) is not considered material because management believes there has been no event that has occurred wherein a guarantee liability has been incurred or will likely be incurred.

The following tables present estimated fair values of the Company’s financial instruments at September 30, 2014 and December 31, 2013 (in thousands):

		Fair Value Measurements at September 30, 2014
		Carrying Value		Level 1		Level 2		Level 3		Total
Financial assets:
Cash and cash equivalents	$	2,301	$	2,301	$	-	$	-	$	2,301
Notes receivable, net		380		-		-		380		380
Investment in securities		219		-		-		219		219
Financial liabilities:
Non-recourse debt		839		-		-		860		860

		Fair Value Measurements at December 31, 2013
		Carrying Value		Level 1		Level 2		Level 3		Total
Financial assets:
Cash and cash equivalents	$	1,419	$	1,419	$	-	$	-	$	1,419
Notes receivable, net		518		-		-		518		518
Investment in securities		219		-		-		219		219
Financial liabilities:
Non-recourse debt		1,952		-		-		2,014		2,014

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Document and Entity Information	9 Months Ended
	Sep. 30, 2014	Oct. 31, 2014
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2014
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	Q3
Entity Registrant Name	ATEL CAPITAL EQUIPMENT FUND XI, LLC
Entity Central Index Key	0001297667
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Units Outstanding		5,209,307

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Summary of Significant Accounting Policies (Policy)

9 Months Ended

Sep. 30, 2014

Summary of Significant Accounting Policies [Abstract]

Basis of Presentation

Basis of presentation:

The accompanying unaudited financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and with the instructions to Form 10-Q as mandated by the Securities and Exchange Commission. The unaudited interim financial statements reflect all adjustments which are, in the opinion of the Managing Member, necessary for a fair statement of financial position and results of operations for the interim periods presented. All such adjustments are of a normal recurring nature. Operating results for the three and nine months ended September 30, 2014 are not necessarily indicative of the results to be expected for the full year. 

Certain prior period amounts may have been reclassified to conform to the current period presentation. These reclassifications had no significant effect on the reported financial position or results of operations.

Footnote and tabular amounts are presented in thousands, except as to Units and per Unit data.

In preparing the accompanying unaudited financial statements, the Managing Member has reviewed events that have occurred after September 30, 2014 up until the issuance of the financial statements. No events were noted which would require additional disclosure in the footnotes to the financial statements, or adjustments thereto.

Use of Estimates

Use of estimates:

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Such estimates primarily relate to the determination of residual values at the end of the lease term and expected future cash flows used for impairment analysis purposes and for determination of the allowance for doubtful accounts and reserve for credit losses on notes receivable.

Equipment on Operating Leases and Related Revenue Recognition

Equipment on operating leases and related revenue recognition:

Equipment subject to operating leases is stated at cost. Depreciation is being recognized on a straight-line method over the terms of the related leases to the equipment’s estimated residual values. Off-lease equipment is generally not subject to depreciation. The Company depreciates all lease assets, in accordance with guidelines consistent with ASC 840-20-35-3, over the periods of the lease terms contained in each asset’s respective lease contract to the estimated residual value at the end of the lease contract. All lease assets are purchased only concurrent with the execution of a lease commitment by the lessee. Thus, the original depreciation period corresponds with the term of the original lease. Once the term of an original lease contract is completed, the subject property is typically sold to the existing user, re-leased to the existing user, or, when off-lease, is held for sale. Assets which are re-leased continue to be depreciated using the terms of the new lease agreements and the estimated residual values at the end of the new lease terms, adjusted downward as necessary. Assets classified as held-for-sale are carried at the lower of carrying amount, or the fair value less cost to sell (ASC 360-10-35-43).

The Company does not use the equipment held in its portfolio, but holds it solely for lease and ultimate sale. In the course of marketing equipment that has come off-lease, management may determine at some point that re-leasing the assets may provide a superior return for investors and would then execute another lease. Upon entering into a new lease contract, management will estimate the residual value once again and resume depreciation. If, and when, the Company, at any time, determines that depreciation in value may have occurred with respect to an asset held-for-sale, the Company would review the value to determine whether a material reduction in value had occurred and recognize any appropriate impairment. All lease assets, including off-lease assets, are subject to the Company’s quarterly impairment analysis, as described in Note 4. Maintenance costs associated with the Fund’s portfolio of leased assets are expensed as incurred. Major additions and betterments are capitalized.

Operating lease revenue is recognized on a straight-line basis over the term of the underlying leases. The initial lease terms will vary as to the type of equipment subject to the leases, the needs of the lessees and the terms to be negotiated, but initial leases are generally on terms from 36 to 120 months. The difference between rent received and rental revenue recognized is recorded as unearned operating lease income on the balance sheet.

Operating leases are generally placed in a non-accrual status (i.e., no revenue is recognized) when payments are more than 90 days past due. Additionally, management considers the equipment underlying the lease contracts for impairment and periodically reviews the credit worthiness of all operating lessees with payments outstanding less than 90 days. Based upon management’s judgment, the related operating leases may be placed on non-accrual status. Leases placed on non-accrual status are only returned to an accrual status when the account has been brought current and management believes recovery of the remaining unpaid lease payments is probable. Until such time, revenues are recognized on a cash basis.

Segment Reporting

Segment reporting:

The Company is not organized by multiple operating segments for the purpose of making operating decisions or assessing performance. Accordingly the Company operates in one reportable operating segment in the United States.

The primary geographic regions in which the Company seeks leasing opportunities are North America and Europe. The table below summarizes geographic information relating to the sources, by nation, of the Company’s total revenues for the nine months ended September 30, 2014 and 2013 and long-lived assets as of September 30, 2014 and December 31, 2013 (dollars in thousands):

		For The Nine Months Ended September 30,
		2014	% of Total		2013	% of Total
Revenue
United States	$	3,168	99%	$	3,518	98%
United Kingdom		37	1%		88	2%
Total International		37	1%		88	2%
Total	$	3,205	100%	$	3,606	100%
		As of September 30,			As of December 31,
		2014	% of Total		2013	% of Total
Long-lived assets
United States	$	4,100	100%	$	7,968	100%
United Kingdom		5	0%		6	0%
Total International		5	0%		6	0%
Total	$	4,105	100%	$	7,974	100%

Investment in Securities

Investment in securities:

From time to time, the Company may purchase securities of its borrowers or receive warrants to purchase securities in connection with its lending arrangements.

Purchased securities

Purchased securities are generally not registered for public sale and are carried at cost. Such securities are adjusted to fair value if the fair value is less than the carrying value and such impairment is deemed by the Managing Member to be other than temporary. Factors considered by the Managing Member in determining fair value include, but are not limited to, available financial information, the issuer’s ability to meet its current obligations and indications of the issuer’s subsequent ability to raise capital. Based upon the Company’s review of its portfolio, no fair value adjustment was deemed necessary for the three and nine months ended September 30, 2014 and 2013.

Warrants

Warrants owned by the Company are not registered for public sale, but are considered derivatives and are reflected at an estimated fair value on the balance sheet as determined by the Managing Member. At September 30, 2014 and 2013, the Managing Member estimated the fair value of the warrants to be nominal in amount. Net gains recognized on the net exercise of certain warrants totaled $1 thousand for the three months ended September 30, 2014. By comparison, there were no such gains recognized during the prior year period. During the nine months ended September 30, 2014 and 2013, net gains realized on the net exercise of warrants totaled $30 thousand and $3 thousand, respectively.  

Foreign Currency Transactions

Foreign currency transactions:

Foreign currency transaction gains and losses are reported in the results of operations as “other income” or “other loss” in the period in which they occur. Currently, the Company does not use derivative instruments to hedge its economic exposure with respect to assets, liabilities and firm commitments as the foreign currency transactions risks to date have not been significant. The Company’s foreign currency translations gains and losses were nominal during the three months and nine months ended September 30, 2014 and 2013.

Per Unit Data

Per Unit data:

Net income and distributions per Unit are based upon the weighted average number of Other Members’ Units outstanding during the period.

Recent Accounting Pronouncements

Recent accounting pronouncements:

In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”), which amends the existing accounting standards for revenuerecognition. ASU 2014-09 is based on principles that govern the recognition of revenue at an amount an entity expects to be entitled when products are transferred to customers. ASU 2014-09 is effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. Early adoption is not permitted. The new revenue standard may be applied retrospectively to each prior period presented or retrospectively with the cumulative effect recognized as of the date of adoption. The Company evaluated the impact of the new standard on its financial statements and has determined that such impact is virtually non-existent as the new revenue guideline does not affect revenues from leases and loans, which comprise the majority of the Company’s revenues.

In August 2014, the FASB issued Accounting Standards Update 2014-15, Presentation of Financial Statements – Going Concern (subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. The new standard provides guidance relative to management's responsibility to evaluate whether there is substantial doubt about an entity's ability to continue as a going concern and to provide related footnote disclosures. The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2016. Early adoption is permitted. Management is currently evaluating the standard and its operational and related disclosure requirements.

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Statements of Income (USD $) In Thousands, except Share data, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Leasing and lending activities:
Operating leases	$ 780	$ 913	$ 2,414	$ 3,162
Direct financing leases	5	18	23	66
Interest on notes receivable	8	13	28	42
Gain on sales of lease assets and early termination of notes	481	98	625	194
Gain on sales or dispositions of securities	1		30	3
Other	15	53	85	139
Total revenues	1,290	1,095	3,205	3,606
Expenses:
Depreciation of operating lease assets	353	441	1,094	1,647
Asset management fees to Managing Member and/or affiliates	45	51	121	181
Costs reimbursements to Managing Member and/or affiliates	53	81	170	242
(Reversal of) provision for credit losses	(1)	2	(2)	(3)
Impairment losses on equipment		39		52
Amortization of initial direct costs	3	5	12	15
Interest expense	14	35	56	120
Professional fees	11	8	96	61
Outside services	5	8	26	28
Other	19	24	57	97
Total operating expenses	502	694	1,630	2,440
Other loss, net			(2)	(1)
Net income	788	401	1,573	1,165
Net income:
Managing Member			64	195
Other Members	788	401	1,509	970
Net income	$ 788	$ 401	$ 1,573	$ 1,165
Net income per Limited Liability Company Unit (Other Members)	$ 0.15	$ 0.08	$ 0.29	$ 0.19
Weighted average number of Units outstanding	5,209,307	5,209,307	5,209,307	5,209,307

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Related Party Transactions

9 Months Ended

Sep. 30, 2014

Related Party Transactions [Abstract]

Related Party Transactions

5.  Related party transactions:

The terms of the Operating Agreement provide that AFS and/or affiliates are entitled to receive certain fees for equipment management and resale, and for management of the Company.

The Operating Agreement allows for the reimbursement of costs incurred by AFS in providing administrative services to the Company. Administrative services provided include Company accounting, finance/treasury, investor relations, legal counsel and lease and equipment documentation. AFS is not reimbursed for services whereby it is entitled to receive a separate fee as compensation for such services, such as management of equipment.

Each of ATEL Leasing Corporation (“ALC”) and AFS is a wholly-owned subsidiary of ATEL Capital Group and performs services for the Company. Acquisition services, equipment management, lease administration and asset disposition services are performed by ALC; and investor relations, communications services and general administrative services are performed by AFS.

Cost reimbursements to the Managing Member are based on its costs incurred in performing administrative services for the Company. These costs are allocated to each managed entity based on certain criteria such as managed assets, number of investors or contributed capital based upon the type of cost incurred.

The Operating Agreement places an annual limit and a cumulative limit for cost reimbursements to AFS and/or affiliates. Any reimbursable costs incurred by AFS and/or affiliates during the year exceeding the annual and/or cumulative limits cannot be reimbursed in the current year, though such costs may be reimbursable in future years to the extent of the cumulative limit. As of September 30, 2014, the Company has not exceeded the annual and/or cumulative limitations discussed above.

AFS and/or affiliates earned fees and billed for reimbursements pursuant to the Operating Agreement as follows during each of the three and nine months ended September 30, 2014 and 2013 (in thousands):

		Three Months Ended				Nine Months Ended
		September 30,				September 30,
		2014		2013		2014		2013
Costs reimbursed to Managing Member and/or affiliates	$	53	$	81	$	170	$	242
Asset management fees to Managing Member and/or affiliates		45		51		121		181
	$	98	$	132	$	291	$	423

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Investment in Equipment and Leases, Net

9 Months Ended

Sep. 30, 2014

Investment in Equipment and Leases, Net [Abstract]

Investment in Equipment and Leases, Net

4.  Investment in equipment and leases, net:

The Company’s investment in leases consists of the following (in thousands):

		Balance December 31, 2013		Reclassifications, Additions/ Dispositions and Impairment Losses		Depreciation/ Amortization Expense or Amortization of Leases		Balance September 30, 2014
Net investment in operating leases	$	7,761	$	(2,656)	$	(1,094)	$	4,011
Net investment in direct financing leases		131		(12)		(56)		63
Assets held for sale or lease, net		43		(39)		-		4
Initial direct costs, net of accumulated   amortization of $27 at September 30, 2014 and   $82 at December 31, 2013		39		-		(12)		27
Total	$	7,974	$	(2,707)	$	(1,162)	$	4,105

Impairment of investments in leases and assets held for sale or lease:

Recorded values of the Company’s leased asset portfolio are reviewed each quarter to confirm the reasonableness of established residual values and to determine whether there is indication that an asset impairment might have taken place. The Company uses a variety of sources and considers many factors in evaluating whether the respective book values of its assets are appropriate. In addition, the company may direct a residual value review at any time if it becomes aware of issues regarding the ability of a lessee to continue to make payments on its lease contract. An impairment loss is measured and recognized only if the estimated undiscounted future cash flows of the asset are less than their net book value. The estimated undiscounted future cash flows are the sum of the residual value of the asset at the end of the asset’s lease contract and undiscounted future rents from the existing lease contract. The residual value assumes, among other things, that the asset is utilized normally in an open, unrestricted and stable market. Short-term fluctuations in the marketplace are disregarded and it is assumed that there is no necessity either to dispose of a significant number of the assets, if held in quantity, simultaneously or to dispose of the asset quickly. Impairment is measured as the difference between the fair value (as determined by a valuation method using discounted estimated future cash flows, third party appraisals or comparable sales of similar assets as applicable based on asset type) of the asset and its carrying value on the measurement date. Upward adjustments for impairments recognized in prior periods are not made in any circumstances.

As a result of these reviews, management determined that no impairment losses existed during the three and nine months ended September 30, 2014. By comparison, during the respective three and nine months ended September 30, 2013, the Company recorded $39 thousand and $52 thousand of fair value adjustments to reduce the cost basis of certain impaired lease and off-lease equipment.

The Company utilizes a straight line depreciation method for equipment in all of the categories currently in its portfolio of operating lease transactions. Depreciation expense on the Company’s equipment was approximately $353 thousand and $441 thousand for the respective three months ended September 30, 2014 and 2013, and was approximately $1.1 million and $1.6 million for the respective nine months ended September 30, 2014 and 2013.

Initial direct costs amortization expense related to the Company’s operating and direct financing leases amounted to $3 thousand and $5 thousand for the respective three months ended September 30, 2014 and 2013, and $12 thousand and $15 thousand for the respective nine months ended September 30, 2014 and 2013.

All of the leased property was acquired during the years 2005 through 2011.

Operating leases:

Property on operating leases consists of the following (in thousands):

		Balance December 31, 2013		Additions		Reclassifications or Dispositions		Balance September 30, 2014
Transportation, rail	$	11,163	$	-	$	(187)	$	10,976
Transportation, other		4,409		-		(2,627)		1,782
Aviation		1,658		-		-		1,658
Materials handling		2,351		-		(702)		1,649
Marine vessels		1,415		-		-		1,415
Construction		758		-		(260)		498
Manufacturing		840		-		(374)		466
Mining		2,893		-		(2,893)		-
Other		11		-		-		11
		25,498		-		(7,043)		18,455
Less accumulated depreciation		(17,737)		(1,094)		4,387		(14,444)
Total	$	7,761	$	(1,094)	$	(2,656)	$	4,011

The average estimated residual value for assets on operating leases was15% and21% of the assets’ original cost at September 30, 2014 and December 31, 2013, respectively.  There were no operating lease contracts placed in non-accrual status at September 30, 2014 and December 31, 2013.

Direct financing leases:

As of September 30, 2014, investment in direct financing leases consists of construction equipment. As of December 31, 2013, such investment primarily consisted of construction and materials handling equipment. The components of the Company’s investment in direct financing leases as of September 30, 2014 and December 31, 2013 are as follows (in thousands):

		September 30,		December 31,
		2014		2013
Total minimum lease payments receivable	$	74	$	153
Estimated residual values of leased equipment (unguaranteed)		6		18
Investment in direct financing leases		80		171
Less unearned income		(17)		(40)
Net investment in direct financing leases	$	63	$	131

There were noinvestments in direct financing lease assets in non-accrual status at September 30, 2014 and December 31, 2013.  

At September 30, 2014, the aggregate amounts of future minimum lease payments to be received are as follows (in thousands):

		Operating Leases		Direct Financing Leases		Total
Three months ending December 31, 2014	$	526	$	17	$	543
Year ending December 31, 2015		1,300		46		1,346
2016		554		11		565
2017		484		-		484
2018		114		-		114
2019		24		-		24
Thereafter		1		-		1
	$	3,003	$	74	$	3,077

The useful lives for each category of leases is reviewed at a minimum of once per quarter. As of September 30, 2014 and December 31, 2013, the respective useful lives of each category of lease assets in the Company’s portfolio are as follows (in years):

Equipment category	Useful Life
Transportation, rail	35 - 40
Marine vessels	20 - 30
Aviation	15 - 20
Manufacturing	10 - 15
Mining	10 - 15
Construction	7 - 10
Materials handling	7 - 10
Transportation, other	7 - 10

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Non-Recourse Debt (Tables)

9 Months Ended

Sep. 30, 2014

Non-Recourse Debt [Abstract]

Future Minimum Payments of Non-Recourse Debt

Future minimum payments of non-recourse debt are as follows (in thousands):

		Principal		Interest		Total
Three months ending December 31, 2014	$	200	$	11	$	211
Year ending December 31, 2015		639		17		656
	$	839	$	28	$	867

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Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2014

Summary of Significant Accounting Policies [Abstract]

Summary of Geographic Information Relating to Sources, by Nation, of Partnership's Total Revenue and Long-Lived Assets

The table below summarizes geographic information relating to the sources, by nation, of the Company’s total revenues for the nine months ended September 30, 2014 and 2013 and long-lived assets as of September 30, 2014 and December 31, 2013 (dollars in thousands):

		For The Nine Months Ended September 30,
		2014	% of Total		2013	% of Total
Revenue
United States	$	3,168	99%	$	3,518	98%
United Kingdom		37	1%		88	2%
Total International		37	1%		88	2%
Total	$	3,205	100%	$	3,606	100%
		As of September 30,			As of December 31,
		2014	% of Total		2013	% of Total
Long-lived assets
United States	$	4,100	100%	$	7,968	100%
United Kingdom		5	0%		6	0%
Total International		5	0%		6	0%
Total	$	4,105	100%	$	7,974	100%

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Guarantees

9 Months Ended

Sep. 30, 2014

Guarantees [Abstract]

Guarantees

8.  Guarantees:

The Company enters into contracts that contain a variety of indemnifications. The Company’s maximum exposure under these arrangements is unknown. However, the Company has not had prior claims or losses pursuant to these contracts and expects the risk of loss to be remote.

The Managing Member knows of no facts or circumstances that would make the Company’s contractual commitments outside standard mutual covenants applicable to commercial transactions between businesses. Accordingly, the Company believes that these indemnification obligations are made in the ordinary course of business as part of standard commercial and industry practice, and that any potential liability under the Company’s similar commitments is remote. Should any such indemnification obligation become payable, the Company would separately record and/or disclose such liability in accordance with GAAP.

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Non-Recourse Debt

9 Months Ended

Sep. 30, 2014

Non-Recourse Debt [Abstract]

Non-Recourse Debt

6.  Non-recourse debt:

At September 30, 2014, non-recourse debt consists of notes payable to financial institutions. The notes are due in monthly installments. Interest on the notes is at a fixed rate of5.95%. The notes are secured by assignments of lease payments and pledges of assets. At September 30, 2014,gross lease rentals totaled approximately $827thousand over the remaining lease terms; and the carrying value of the pledged assets is approximately $1.8million. The notes mature in 2015.

The non-recourse debt does not contain any material financial covenants. The debt is secured by liens granted by the Company to the non-recourse lenders on (and only on) the discounted lease transactions. The lenders have recourse only to the following collateral: the specific leased equipment; the related lease chattel paper; the lease receivables; and proceeds of the foregoing items. The non-recourse obligation is payable solely out of the respective specific security and the Company does not guarantee (nor is the Company otherwise contractually responsible for) the payment of the non-recourse debt as a general obligation or liability of the Company. Although the Company does not have any direct or general liability in connection with the non-recourse debt apart from the security granted, the Company is directly and generally liable and responsible for certain representations, warranties, and covenants made to the lenders, such as warranties as to genuineness of the transaction parties' signatures, as to the genuineness of the respective lease chattel paper or the transaction as a whole, or as to the Company's good title to or perfected interest in the secured collateral, as well as similar representations, warranties and covenants typically provided by non-recourse borrowers and customary in the equipment finance industry, and are viewed by such industry as being consistent with non-recourse discount financing obligations. Accordingly, as there are no financial covenants or ratios imposed on the Company in connection with the non-recourse debt, the Company has determined that there are no material covenants with respect to the non-recourse debt that warrant footnote disclosure.

Future minimum payments of non-recourse debt are as follows (in thousands):

		Principal		Interest		Total
Three months ending December 31, 2014	$	200	$	11	$	211
Year ending December 31, 2015		639		17		656
	$	839	$	28	$	867

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Commitments

9 Months Ended

Sep. 30, 2014

Commitments [Abstract]

Commitments

7. Commitments:

At September 30, 2014, the Company had nocommitments to either purchase lease assets or fund loans.

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Members' Capital

9 Months Ended

Sep. 30, 2014

Members' Capital [Abstract]

Members' Capital

9.  Members’ capital:

A total of 5,209,307Units were issued and outstanding as of September 30, 2014 andDecember 31, 2013. The Fund was authorized to issue up to 15,000,000 Units in addition to the Units issued to the initial members (50 Units). The Company terminated sales of Units effective April 30, 2006.

The Company has the right, exercisable at the Manager’s discretion, but not the obligation, to repurchase Units of aUnitholder who ceases to be a U.S. Citizen, for a price equal to 100% of the holder’s capital account. The Company is otherwise permitted, but not required, to repurchase Units upon a holder’s request. The repurchase of Fund Units is made in accordance with Section 13 of the Amended and Restated Limited Liability Company Operating Agreement. The repurchase would be at the discretion of the Manager on terms it determines to be appropriate under given circumstances, in the event that the Manager deems such repurchase to be in the best interest of the Company; provided,the Company is never required to repurchase any Units. Upon the repurchase of any Units by the Fund, the tendered Units are cancelled. Units repurchased in prior periods were repurchased at amounts representing the original investment less cumulative distributions made to the Unitholder with respect to the Units. All Units repurchased during a quarter are deemed to be repurchased effective the last day of the preceding quarter, and are not deemed to be outstanding during, or entitled to allocations of net income, net loss or distributions for the quarter in which such repurchase occurs.

Distributions to the Other Members were as follows (in thousands, except as to Units and per Unit data):  

		Three Months Ended				Nine Months Ended
		September 30,				September 30,
		2014		2013		2014		2013
Distributions	$	-	$	-	$	781	$	2,409
Weighted average number of Units outstanding		5,209,307		5,209,307		5,209,307		5,209,307
Weighted average distributions per Unit	$	-	$	-	$	0.15	$	0.46

The monthly distributions were discontinued in 2013 as the Company entered its liquidation phase. The rates and frequency of periodic distributions paid by the Fund during its liquidation phase are solely at the discretion of the Manager.

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Investment in Equipment and Leases, Net (Components of Investment in Direct Financing Leases) (Details) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2014	Dec. 31, 2013
Investment in Equipment and Leases, Net [Abstract]
Total minimum lease payments receivable	$ 74	$ 153
Estimated residual values of leased equipment (unguaranteed)	6	18
Investment in direct financing leases	80	171
Less unearned income	(17)	(40)
Net investment in direct financing leases	$ 63	$ 131

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Investment in Equipment and Leases, Net (Tables)

9 Months Ended

Sep. 30, 2014

Investment in Equipment and Leases, Net [Abstract]

Investment in Leases

The Company’s investment in leases consists of the following (in thousands):

		Balance December 31, 2013		Reclassifications, Additions/ Dispositions and Impairment Losses		Depreciation/ Amortization Expense or Amortization of Leases		Balance September 30, 2014
Net investment in operating leases	$	7,761	$	(2,656)	$	(1,094)	$	4,011
Net investment in direct financing leases		131		(12)		(56)		63
Assets held for sale or lease, net		43		(39)		-		4
Initial direct costs, net of accumulated   amortization of $27 at September 30, 2014 and   $82 at December 31, 2013		39		-		(12)		27
Total	$	7,974	$	(2,707)	$	(1,162)	$	4,105

Property on Operating Leases

Property on operating leases consists of the following (in thousands):

		Balance December 31, 2013		Additions		Reclassifications or Dispositions		Balance September 30, 2014
Transportation, rail	$	11,163	$	-	$	(187)	$	10,976
Transportation, other		4,409		-		(2,627)		1,782
Aviation		1,658		-		-		1,658
Materials handling		2,351		-		(702)		1,649
Marine vessels		1,415		-		-		1,415
Construction		758		-		(260)		498
Manufacturing		840		-		(374)		466
Mining		2,893		-		(2,893)		-
Other		11		-		-		11
		25,498		-		(7,043)		18,455
Less accumulated depreciation		(17,737)		(1,094)		4,387		(14,444)
Total	$	7,761	$	(1,094)	$	(2,656)	$	4,011

Components of Company's Investment in Direct Financing Leases

As of September 30, 2014, investment in direct financing leases consists of construction equipment. As of December 31, 2013, such investment primarily consisted of construction and materials handling equipment. The components of the Company’s investment in direct financing leases as of September 30, 2014 and December 31, 2013 are as follows (in thousands):

		September 30,		December 31,
		2014		2013
Total minimum lease payments receivable	$	74	$	153
Estimated residual values of leased equipment (unguaranteed)		6		18
Investment in direct financing leases		80		171
Less unearned income		(17)		(40)
Net investment in direct financing leases	$	63	$	131

Future Minimum Lease Payments Receivable

At September 30, 2014, the aggregate amounts of future minimum lease payments to be received are as follows (in thousands):

		Operating Leases		Direct Financing Leases		Total
Three months ending December 31, 2014	$	526	$	17	$	543
Year ending December 31, 2015		1,300		46		1,346
2016		554		11		565
2017		484		-		484
2018		114		-		114
2019		24		-		24
Thereafter		1		-		1
	$	3,003	$	74	$	3,077

Schedule of Useful Lives of Assets

As of September 30, 2014 and December 31, 2013, the respective useful lives of each category of lease assets in the Company’s portfolio are as follows (in years):

Equipment category	Useful Life
Transportation, rail	35 - 40
Marine vessels	20 - 30
Aviation	15 - 20
Manufacturing	10 - 15
Mining	10 - 15
Construction	7 - 10
Materials handling	7 - 10
Transportation, other	7 - 10

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Organization and Limited Liability Company Matters (Narrative) (Details) (USD $)	0 Months Ended		1 Months Ended	80 Months Ended	112 Months Ended	123 Months Ended
	Jul. 13, 2005	Apr. 11, 2005	May 31, 2005	Dec. 31, 2012	Sep. 30, 2014	Sep. 30, 2014	Dec. 31, 2013
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Business cessation date						Dec. 31, 2025
Public offering of Limited Liability Company Units		15,000,000
Public offering of Limited Liability Company Units, price per unit		$ 10
Sale of Limited Liability Company Units, number of units	958,274		120,000
Proceeds from sale of Limited Liability Company Units	$ 9,600,000		$ 1,200,000
Contributions net of rescissions					52,200,000
Gross contributions from Other Members					52,800,000
Repurchase of units, value					636,000
Units issued					5,209,307	5,209,307	5,209,307
Units outstanding					5,209,307	5,209,307	5,209,307
Reinvestment period				6 years
Minimum [Member]
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Amount of aggregate subscriptions for Pennsylvania subscriptions to be released to the Fund	$ 7,500,000

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Members' Capital (Narrative) (Details)	9 Months Ended	12 Months Ended
	Sep. 30, 2014	Dec. 31, 2013
Other Members Capital Account [Line Items]
Other Members capital account, units issued	5,209,307	5,209,307
Other Members capital account, units outstanding	5,209,307	5,209,307
Other Members capital account, units authorized	15,000,000	15,000,000
Potential repurchase price of Units as percentage of holder's capital account	100.00%
Managing Member [Member]
Other Members Capital Account [Line Items]
Managing members account, units issued	50	50

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Statements of Changes in Members' Capital (USD $) In Thousands, except Share data, unless otherwise specified	3 Months Ended	9 Months Ended		12 Months Ended
	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013
Beginning Balance		$ 7,224	$ 9,013	$ 9,013
Distributions to Other Members		(781)	(2,409)	(3,190)
Distributions to Managing Member		(64)		(259)
Net income	788	1,573	1,165	1,660
Ending Balance	7,952	7,952		7,224
Other Members [Member]
Beginning Balance (in units)		5,209,307	5,209,307	5,209,307
Beginning Balance		7,224	9,013	9,013
Distributions to Other Members		(781)		(3,190)
Net income		1,509		1,401
Ending Balance (in units)	5,209,307	5,209,307		5,209,307
Ending Balance	7,952	7,952		7,224
Managing Member [Member]
Distributions to Managing Member		(64)		(259)
Net income		$ 64		$ 259

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Notes Receivable, Net

9 Months Ended

Sep. 30, 2014

Notes Receivable, Net [Abstract]

Notes Receivable, Net

3.  Notes receivable, net:

The Company has had various notes receivable from borrowers who have financed the purchase of equipment through the Company. The notes were secured by the equipment financed. As of September 30, 2014 and December 31, 2013, only one note receivable remains unsettled. Such note has an annual interest rate of 8.51% and matures in 2016.

The Company had neither notes in non-accrual status nor impaired notes at both September 30, 2014 and December 31, 2013.

The minimum future payments receivable as of September 30, 2014 are as follows (in thousands):

Three months ending December 31, 2014	$	55
Year ending December 31, 2015		166
2016		188
		409
Less: portion representing unearned interest income		(29)
Notes receivable, net	$	380

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Summary of Significant Accounting Policies (Narrative) (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014 segment	Sep. 30, 2013
Number of reportable segments			1
Gain on exercise of warrants	$ 1	$ 0	$ 30	$ 3
Minimum [Member]
Operating leases, initial terms			36 months
Operating leases, period for non accrual status			90 days
Maximum [Member]
Operating leases, initial terms			120 months
Operating leases, period for non accrual status			90 days

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Non-Recourse Debt (Narrative) (Details) (USD $)	9 Months Ended
	Sep. 30, 2014
Fixed interest rate on note	5.95%
Gross operating lease rentals and future payments on direct financing leases	$ 827,000
Carrying value of pledged assets	$ 1,800,000
Maximum [Member]
Note maturity year	2015

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Notes Receivable, Net (Tables)

9 Months Ended

Sep. 30, 2014

Notes Receivable, Net [Abstract]

Minimum Future Payments Receivable

The minimum future payments receivable as of September 30, 2014 are as follows (in thousands):

Three months ending December 31, 2014	$	55
Year ending December 31, 2015		166
2016		188
		409
Less: portion representing unearned interest income		(29)
Notes receivable, net	$	380