Filed 15 May 19

Document and Entity Information

Document and Entity Information - shares3 Months Ended
Mar. 31, 2019May 15, 2019
Document And Entity Information
Entity Registrant NameSQN AIF IV, L.P.
Entity Central Index Key0001560046
Document Type10-Q
Document Period End DateMar. 31,
2019
Amendment Flagfalse
Current Fiscal Year End Date--12-31
Entity Filer CategoryNon-accelerated Filer
Entity Small Business Flagtrue
Entity Emerging Growth Companyfalse
Entity Ex Transition Periodfalse
Entity Common Stock, Shares Outstanding74,527.94
Document Fiscal Period FocusQ1
Document Fiscal Year Focus2019

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)Mar. 31, 2019Dec. 31, 2018
Assets
Cash and cash equivalents $ 4,029,411 $ 2,835,057
Investments in finance leases, net2,413,966 3,424,703
Investments in equipment subject to operating leases, net3,593,736 3,758,982
Equipment notes receivable, including accrued interest of $800,438 and $703,14912,017,691 12,010,957
Residual value investment in equipment on lease2,775,060 2,775,060
Initial direct costs, net of accumulated amortization of $424,115 and $416,539121,929 130,505
Collateralized loans receivable, including accrued interest of $1,815,193 and $1,455,92149,015,486 47,487,862
Equipment investment through SPV30,694,362 31,413,881
Other assets4,241,695 4,055,357
Total Assets108,903,336 107,892,364
Liabilities:
Loans payable67,507,108 68,065,196
Related Party non-recourse participation interest payable8,487,372 6,266,261
Accounts payable and accrued liabilities3,920,686 3,029,295
Deferred revenue856,583 934,310
Distributions payable to General Partner129,573 129,573
Due to SQN Portfolio Acquisition Company, LLC - JV Interest Participation194,489 194,489
Security deposits payable 12,324
Total Liabilities81,095,811 78,631,448
Partners' Equity (Deficit):
Limited Partners24,333,605 25,664,846
General Partner(412,228)(398,781)
Total Partners' Equity attributable to the Partnership23,921,377 25,266,065
Non-controlling interest in consolidated entities3,886,148 3,994,851
Total Equity27,807,525 29,260,916
Total Liabilities and Partners' Equity $ 108,903,336 $ 107,892,364

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)Mar. 31, 2019Dec. 31, 2018
Statement of Financial Position [Abstract]
Equipment notes receivable accrued interest $ 800,438 $ 703,149
Initial direct costs net of accumulated amortization424,115 416,539
Collateralized loans receivable accrued interest $ 1,815,193 $ 1,455,921

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)3 Months Ended
Mar. 31, 2019Mar. 31, 2018
Revenue:
Rental income $ 252,000 $ 252,000
Finance income6,103 376,929
Interest income1,434,317 1,441,818
Income from equipment investment through SPV3,781,809 4,131,578
Loss on sale of assets(148,464)
Other income 323
Total Revenue5,325,765 6,202,648
Provision for lease, note, and loan losses 752,611
Revenue less provision for lease, note, and loan losses5,325,765 5,450,037
Expenses:
Management fees - Investment Manager375,000 375,000
Depreciation and amortization173,822 344,858
Professional fees157,061 117,505
Administration expense9,284 15,256
Interest expense1,105,083 1,133,890
Other expenses34,643 6,378
Expenses from equipment investment through SPV (including depreciation expense of approximately $677,000 and $677,000 for the three months ending March 31, 2019 and 2018, respectively)4,870,781 4,321,068
Total Expenses6,725,674 6,313,955
Foreign currency transaction losses (gains)52,892 (189,925)
Net loss(1,452,801)(673,993)
Net loss attributable to non-controlling interest in consolidated entities(108,113)(18,359)
Net loss attributable to the Partnership(1,344,688)(655,634)
Net loss attributable to the Partnership
Limited Partners(1,331,241)(649,078)
General Partner(13,447)(6,556)
Net loss attributable to the Partnership $ (1,344,688) $ (655,634)
Weighted average number of limited partnership interests outstanding74,527.9474,527.94
Net loss attributable to Limited Partners per weighted average number of limited partnership interests outstanding $ (17.86) $ (8.71)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Operations (Unaudited) (Parenthetical) - USD ($)3 Months Ended
Mar. 31, 2019Mar. 31, 2018
Income Statement [Abstract]
Depreciation expense $ 677,000 $ 677,000

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Changes in Partners' Equity (Unaudited) - 3 months ended Mar. 31, 2019 - USD ($)Limited Partnership Interests [Member]TotalGeneral Partner [Member]Limited Partners [Member]Non-controlling Interest [Member]
Balance at Dec. 31, 2018 $ 29,260,916 $ (398,781) $ 25,664,846 $ 3,994,851
Balance, shares at Dec. 31, 201874,966.07
Net loss (1,452,801)(13,447)(1,331,241)(108,113)
Redemption of non-controlling interest (590) (590)
Balance at Mar. 31, 2019 $ 27,807,525 $ (412,228) $ 24,333,605 $ 3,886,148
Balance, shares at Mar. 31, 201974,966.07

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)3 Months Ended
Mar. 31, 2019Mar. 31, 2018
Cash flows from operating activities:
Net loss $ (1,452,801) $ (673,993)
Adjustments to reconcile net loss to net cash provided by operating activities:
Finance income(6,103)(376,929)
Accrued interest income(1,329,815)(1,337,316)
Provision for lease, note, and loan losses 752,611
Depreciation and amortization173,822 344,858
Loss on sale of assets148,464
Foreign currency transaction losses (gains)53,338 (189,374)
Change in operating assets and liabilities:
Minimum rents receivable891,550 1,603,158
Accrued interest income1,055,977 1,992,974
Other assets(186,338)(484,040)
Accounts payable and accrued liabilities891,391 (237,165)
Deferred revenue(77,727)(114,433)
Security deposits payable(12,324)
Accrued interest on note payable531,751 531,752
Net cash provided by operating activities681,185 1,812,103
Cash flows from investing activities:
Purchase of finance leases (173,009)
Cash paid for collateralized loans receivable(575,000)(580,216)
Cash received from collateralized loans receivable1,324,849 1,240,002
Equipment investment through SPV719,519 704,026
Cash paid for equipment notes receivable (752,611)
Repayment of equipment notes receivable134,230 384,197
Net cash provided by investing activities1,603,598 822,389
Cash flows from financing activities:
Repayments of loan payable(1,089,839)(1,183,031)
Cash paid for Limited Partner distributions (1,489,247)
Cash paid for non-controlling interest distributions(590)(590)
Net cash used in financing activities(1,090,429)(2,672,868)
Net increase (decrease) in cash and cash equivalents1,194,354 (38,376)
Cash and cash equivalents, beginning of period2,835,057 1,284,883
Cash and cash equivalents, end of period4,029,411 1,246,507
Supplemental disclosure of other cash flow information:
Cash paid for interest501,675 530,482
Supplemental disclosure of non-cash investing and financing activities:
Distributions payable to General Partner 14,892
Increase in collateralized loans receivable (676,279)
Increase in non-recourse participation interest payable $ 2,221,111

Organization and Nature of Oper

Organization and Nature of Operations3 Months Ended
Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Nature of Operations1. Organization and Nature of Operations Organization Nature of Operations The General Partner of the Partnership is SQN
AIF IV GP, LLC (the “General Partner”), a wholly-owned subsidiary of the Partnership’s Investment Manager. Both
the Partnership’s General Partner and its Investment Manager are Delaware limited liability companies. The General Partner
manages and controls the day to day activities and operations of the Partnership, pursuant to the terms of the Limited Partnership
Agreement. The General Partner paid an aggregate capital contribution of $100 for a 1% interest in the Partnership’s income,
losses and distributions. The Investment Manager makes all investment decisions and manages the investment portfolio of the Partnership. On January 19, 2015, the Investment Manager,
through a wholly-owned subsidiary, entered into an agreement to acquire the leasing division of Summit Asset Management Limited
(“Summit Asset Management”). Upon the acquisition, the Origination and Servicing Agreement between the Investment Manager
and Summit Asset Management was terminated. From January 1, 2015, all activities of Summit Asset Management are conducted under
SQN Capital Management (UK) Limited (“SQN UK”). Where Summit Asset Management was previously the servicer on transactions
sold to the Partnership, SQN UK will now act as servicer. On June 3, 2015, SQN Alpha, LLC (“Alpha”),
a special purpose entity which is 32.5% owned by the Partnership and 67.5% owned by SQN Portfolio Acquisition Company, LLC (“SQN
PAC”), acquired a promissory note with a principal amount equal to $2,650,000. The promissory note accrues interest at the
rate of 11.1% per annum, payable quarterly in arrears, and matures on June 30, 2020. The promissory note is secured by a pledge
of shares in an investment portfolio of insurance companies under common control of the third party which include equipment leases,
direct hard assets and infrastructure investments, and other securities. On June 3, 2015, a participation agreement was entered
into between SQN PAC (“Participation A”), the Partnership (“Participation B”), Alpha and SQN Capital Management,
LLC. Under the agreement, Alpha created two collateralized participation interests for the collateral (“Promissory Note”);
Participation A’s principal contribution is $1,788,750 and accrues interest at 9% per annum and Participation B’s principal
contribution is $861,250 and accrues interest at 15.05% per annum. SQN Capital Management, LLC was appointed as a servicer for
the Promissory Note. Participation A’s interest is senior to Participation B’s interest. Since the Partnership bears
the primary risks and rewards of Alpha, the Partnership consolidates Alpha into the condensed consolidated financial statements.
SQN PAC’s 67.5% investment in Alpha is presented as non-controlling interest on the condensed consolidated financial statements. On December 2, 2015, the Partnership formed
a special purpose entity SQN Juliet, LLC (“Juliet”), a limited liability company registered in the state of Delaware
which is wholly owned by the Partnership. On December 29, 2015, Juliet entered into a loan agreement with a third party to borrow
$3,071,000 for the funding of two loan facilities. The loan accrues interest at the rate of 8.5% per annum and matured on December
29, 2016. On April 22, 2016, this loan was amended and extended as part of the amended participation agreement. On December 31,
2015, Juliet extended two separate loan facilities to two borrowers. The borrowers are both subsidiaries of a UK based parent company
that provides small and medium sized secured business loans (“Just Loans”). Each facility provides financing up to
a maximum borrowing of £5,037,500 or together a total of £10,075,000 and accrues interest at a rate of 10% per annum.
The funds can be drawn down in increments of up to £1,000,000 per month per facility with the exception of the first draws
which were each in the amount of £1,037,500 in order to fund a certain third party fee of £37,500. The funds can be drawn
up to the one year anniversary of the loan facilities or December 31, 2016 (“Availability Date”). The loan is repayable
in monthly interest only payments due on the last day of each month. Principal is due nine months after the Availability Date or
September 30, 2017 (“Termination Date”). The loans are secured by share pledges of the borrowers, a guaranty from the
UK based parent company, and the underlying loan portfolio that Just Loans generates. In February 2016, the loan facilities were
amended to include an annual fee, payable within 15 days of end of calendar year, equal to 30% of the interest paid or payable
in the immediately preceding calendar year. On March 29, 2017, Juliet entered into a deed of novation agreement to novate 85% of
this loan note to SQN Asset Finance (Ireland) Designated Activity Company (“SQN AFI”) for $6,416,092. In connection
with the novation agreement, the Termination Date was extended to September 30, 2018. In December 2018, the Termination Date was
extended to December 31, 2019. On December 29, 2015, a participation agreement was entered into between a third party (“Juliet
Participation A”), the Partnership (“Juliet Participation B”), and Juliet. In connection with the participation
agreement, the Partnership assigned to Juliet various finance leases and equipment notes receivables with a total value equal to
$4,866,750. Under the agreement, Juliet created two collateralized participation interests for the underlying loans (“Underlying
Loans”); Juliet Participation A’s principal balance is $3,071,000 and accrues interest at 8.5% per annum and Juliet
Participation B’s principal balance is the value of their assigned finance leases and equipment notes receivable of $4,866,750.
Juliet Participation A’s interest is senior to Juliet Participation B’s interest. On April 22, 2016, the participation
agreement dated December 29, 2015 between Juliet Participation A, Juliet Participation B, and Juliet was amended and restated.
In connection with the amended participation agreement, Juliet Participation A funded Juliet cash of approximately $8,511,000 and
assigned their interests of approximately $3,986,000 in a loan facility for a wood pellet business in Texas, which along with the
outstanding principal payable balance of approximately $2,124,000 on the Just Loans transaction resulted in a Juliet Participation
A balance of approximately $14,621,000. Under the amended agreement, Juliet Participation A’s principal balance accrues interest
at 6% per annum and Juliet Participation B’s principal balance accrues interest at 12% per annum. Juliet Participation A’s
interest is senior to Juliet Participation B’s interest. On December 13, 2016, Juliet advanced a total of $740,160 to the
Just Loans borrowers. On March 29, 2017, Juliet entered into a deed of novation agreement to novate 85% of this loan note to SQN
Asset Finance (Ireland) Designated Activity Company (“SQN AFI”) and on March 31, 2017, Juliet received cash proceeds
of $6,416,092 from SQN AFI for the 85% interest. The loan note had a net book value of $6,273,670 resulting in a U.S. GAAP gain
of $142,422. On March 31, 2017, the Partnership advanced a total of $374,610 to the Just Loans borrowers. On April 28, 2017, the
Partnership advanced a total of $370,187 to the Just Loans borrowers. On December 16, 2015, SQN Marine, LLC (“Marine”),
a special purpose vehicle which is wholly owned by the Partnership, entered into a sale and assignment of partnership interest
agreement with the Partnership and a third party. Under the terms of the agreement, Marine acquired an 88.20% (90% of 98%) economic
interest in a portfolio of container feeder vessels, for an aggregate investment of $28,266,789. Marine contributed cash of $12,135,718
and entered into two loans payable with separate third parties of $7,500,000 and $9,604,091. Marine acquired their economic interest
in the vessels through a limited partnership interest in CONT Feeder Portfolio GmbH & Co. KG, a Germany based limited partnership
(“CONT Feeder”), which acquired and operates the container feeder vessels, and entered into a separate note payable
with an unrelated third party of $14,375,654. Marine bears the risks and rewards of ownership of CONT Feeder and therefore Marine
consolidates the financial statements of CONT Feeder. Since the Partnership bears the primary risks and rewards of Marine, the
Partnership consolidates Marine into the condensed consolidated financial statements. A third party contributed $3,140,754 to purchase
a 10% share of CONT Feeder which is presented as non-controlling interest on the condensed consolidated financial statements.On
January 7, 2015, the Partnership acquired a junior participation interest in a portfolio of eight helicopters for $1,500,000. The
Partnership, SQN PAC, SQN Asset Finance Income Fund Limited (“SQN AFIF”), a Guernsey incorporated closed ended investment
company, a fund managed by the Partnership’s Investment Manager and a third party formed a special purpose entity SQN Helo
whose sole purpose is to acquire the helicopter portfolio. SQN Helo is the sole owner of eight special purpose entities each of
which own a helicopter. The purchase price of the helicopter portfolio was approximately $23,201,000 comprised of approximately
$11,925,000 of cash payments and the assumption of approximately $11,276,000 of nonrecourse indebtedness. SQN PAC also acquired
a junior participation interest in SQN Helo for $1,500,000. The senior participation interests in SQN Helo were acquired by SQN
AFIF and the third party. The Partnership and SQN PAC each owned 50% of SQN Helo. The Partnership accounted for its investment
in SQN Helo using the equity method. In November 2016, a lessee of five helicopters filed for bankruptcy protection under Chapter
11 and restructured the leases. As of December 31, 2016, the Partnership had advanced a total of $1,465,000. On January 19, 2017,
the Partnership bought a debt position of a third party lender to SQN Helo for $3,325,506, which increased the Partnership’s
controlling financial interest in SQN Helo to 76%. On September 29, 2017 and June 30, 2017, the Partnership received a distribution
from SQN Helo of $249,287 and $250,000, respectively, which decreased the Partnership’s controlling financial interest in
SQN Helo to 75%. As a result of the increase in the Partnership’s controlling financial interest and since the Partnership
bears the primary risks and rewards of SQN Helo, the Partnership consolidates SQN Helo into the condensed consolidated financial
statements. SQN PAC owns a 25% share of SQN Helo which is presented as due to SQN Portfolio Acquisition Company, LLC on the condensed
consolidated financial statements. The Partnership’s income, losses and
distributions are allocated 99% to the Limited Partners and 1% to the General Partner until the Limited Partners have received
total distributions equal to their capital contributions plus an 8% per year, compounded annually, cumulative return on their capital
contributions. After such time, all income, losses and distributable cash will be allocated 80% to the Limited Partners and 20%
to the General Partner. The Partnership is currently in the Liquidation Period. The Offering Period concluded on April 2, 2016,
which was three years from the date the Partnership was declared effective by the Securities and Exchange Commission (“SEC”).
During the Operating Period, the Partnership will invest most of the net proceeds from its offering in business-essential, revenue-producing
(or cost-saving) equipment, other physical assets with substantial economic lives and, in many cases, associated revenue streams
and project financings. The Operating Period began on the date of the Partnership’s initial closing, which occurred on May
29, 2013 and concluded on May 29, 2017. The Liquidation Period, which began on May 30, 2017, is the period in which the Partnership
will sell its assets in the ordinary course of business and will last two years, unless it is extended, at the sole discretion
of the General Partner. American Elm Distribution Partners, LLC (f/k/a
SQN Securities, LLC) (“American Elm”), a Delaware limited liability company, was the Partnership’s selling agent,
and received an underwriting fee of 3% of the gross proceeds from Limited Partners’ capital contributions (excluding proceeds,
if any, the Partnership received from the sale of its Units to the General Partner or its affiliates). On January 7, 2019, American
Elm changed its name from SQN Securities, LLC to American Elm Distribution Partners, LLC. In addition, the Partnership paid a 7%
sales commission to broker-dealers unaffiliated with the General Partner who sold the Partnership’s Units, on a best efforts
basis. When the 7% sales commission was not required to be paid, the Partnership applied the proceeds that would otherwise be payable
as sales commission toward the purchase of additional fractional Units at $1,000 per Unit. During the three months ended March 31, 2019,
the Partnership did not make any cash distributions to its Limited Partners. From May 29, 2013 through March 31, 2019,
the Partnership has admitted 1,508 Limited Partners with total capital contributions of $74,965,064 resulting in the sale of 74,965.07
Units. The Partnership received cash contributions of $72,504,327 and applied $2,460,737 which would have otherwise been paid
as sales commission to the purchase of 2,460.74 additional Units.

Summary of Significant Accounti

Summary of Significant Accounting Policies3 Months Ended
Mar. 31, 2019
Accounting Policies [Abstract]
Summary of Significant Accounting Policies2. Summary of Significant Accounting Policies Basis of Presentation Principles of Consolidation Non-controlling interest represents
the minority equity holders’ investment in Alpha and CONT Feeder plus the minority’s share of the net operating results
and other components of equity relating to the non-controlling interest. Variable interests are investments or
other interests that absorb portions of a variable interest entity’s (“VIE”) expected losses or receive portions
of the Partnership’s expected residual returns and are contractual, ownership, or other pecuniary interests in a VIE that
change with changes in the fair value of the VIE. An entity is considered to be a VIE if any of the following conditions exist.
(1) The total equity investment at risk is insufficient to permit the legal entity to finance its activities without additional
subordinated financial support; or (2) As a group, the holders of equity investments at risk lack any of the three characteristics
of a controlling financial interest: (a) The direct or indirect ability through voting or similar rights to make decisions that
have a significant effect on the success of the legal entity. The equity holders at risk are deemed to lack this characteristic
if: i. the voting rights of some investors are not proportional to their obligation to absorb the expected losses of the legal
entity or rights to receive expected residual returns; and ii. substantially all of the legal entity’s activities are either
involved with or are conducted on behalf of an investor that has disproportionately few voting rights (b) The obligation to absorb
the expected losses of the legal entity or (c) The right to receive the expected residual returns of the legal entity. An entity
that is determined to be a VIE is required to be condensed consolidated by its primary beneficiary. The primary beneficiary of
a VIE is determined to be the party that has both the power to direct the activities that most significantly affect the VIE’s
economic performance (“Power”) and the obligation to absorb losses of, or the right to receive benefits from the VIE,
that could potentially be significant to the VIE (“Benefits”). The determination of whether a reporting entity is the
primary beneficiary involves complex and subjective analyses. Use of estimates Cash and Cash Equivalents The Partnership’s cash and cash
equivalents are held principally at one financial institution and at times may exceed federally insured limits. The Partnership
has placed these funds in an international financial institution in order to minimize risk relating to exceeding insured limits.
The Partnership, through Summit Asset Management Limited, maintains an unrestricted bank account at a major financial institution
in the United Kingdom for purposes of receiving payments and funding transactions in Pound Sterling. Credit Risk Asset Impairments Lease Classification and Revenue
Recognition The Partnership leases equipment to
third parties and each such lease may be classified as either a finance lease or an operating lease. Initial direct costs are capitalized
and amortized over the term of the related lease for a finance lease. For an operating lease, initial direct costs are included
as a component of the cost of the equipment and depreciated. For finance leases, the Partnership
records, at lease inception, the total minimum lease payments receivable from the lessee, the estimated unguaranteed residual value
of the equipment upon lease termination, the initial direct costs, if any, related to the lease and the related unearned income.
Unearned income represents the difference between the sum of the minimum lease payments receivable plus the estimated unguaranteed
residual value, minus the cost of the leased equipment. Unearned income is recognized as finance income over the term of the lease
using the effective interest rate method. For operating leases, rental income
is recognized on the straight line basis over the lease term. Billed and uncollected operating lease receivables will be included
in accounts receivable. Accounts receivable are stated at their estimated net realizable value. Rental income received in advance
is the difference between the timing of the cash payments and the income recognized on the straight line basis. The investment committee of the Investment
Manager approves each new equipment lease, financing transaction, and lease acquisition. As part of this process it determines
the unguaranteed residual value, if any, to be used once the acquisition has been approved. The factors considered in determining
the unguaranteed residual value include, but are not limited to, the creditworthiness of the potential lessee, the type of equipment
being considered, how the equipment is integrated into the potential lessees’ business, the length of the lease and the industry
in which the potential lessee operates. Unguaranteed residual values are reviewed for impairment in accordance with the Partnership’s
policy relating to impairment review. The residual value assumes, among other
things, that the asset will be 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. The residual value is calculated using information from various external
sources, such as trade publications, auction data, equipment dealers, wholesalers and industry experts, as well as inspection of
the physical asset and other economic indicators. Finance Lease Receivables and
Allowance for Doubtful Lease, Notes and Loan Accounts Equipment Notes and Loans Receivable Initial Direct Costs Acquisition Expense Income Taxes The Partnership is subject to the Bipartisan
Budget Act of 2015 (“BBA”), which, among other requirements, stipulates that any tax liability incurred based on an
IRS tax examination will become due by the Partnership versus the partners of the Partnership. The Partnership, at its discretion,
will be able to seek repayment from its partners or treat as a distribution of the individual partners’ account to satisfy
this obligation. The Partnership will treat any liability incurred as a deduction to equity. As of March 31, 2019, there were no
expected liabilities to be incurred under the BBA. The Partnership has adopted the provisions
of FASB Topic 740, Accounting for Uncertainty in Income Taxes. Per Share Data Foreign Currency Transactions Depreciation Recent Accounting Pronouncements In June 2016, the FASB issued ASU 2016-13, Financial
Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments In February 2016, the FASB issued new
guidance to improve consolidation guidance for legal entities ASU 2016-02, Leases (Topic 842): Amendments to the FASB
Accounting Standards Codification ASU 2016-02
amends the existing accounting standards for lease accounting, including requiring lessees to recognize most leases on their balance
sheets, and makes targeted changes to lessor accounting.

Related Party Transactions

Related Party Transactions3 Months Ended
Mar. 31, 2019
Related Party Transactions [Abstract]
Related Party Transactions3. Related Party Transactions The General Partner is responsible for the
operations of the Partnership and the Investment Manager makes all investment decisions and manages the investment portfolio of
the Partnership. The Partnership pays the General Partner a fee for organizational and offering costs not to exceed 2% of all capital
contributions received by the Partnership. Because organizational and offering expenses will be paid, as and to the extent they
are incurred, organizational and offering expenses may be drawn disproportionately to the gross proceeds of each closing. The General
Partner also has a promotional interest in the Partnership equal to 20% of all distributed distributable cash, after the Partnership
has provided an 8% cumulative return, compounded annually, to the Limited Partners on their capital contributions. The General
Partner has a 1% interest in the profits, losses and distributions of the Partnership. The General Partner will initially receive
1% of all distributed distributable cash, which was accrued at March 31, 2019 and December 31, 2018. The Partnership pays the Investment Manager
during the Offering Period, Operating Period and the Liquidation Period a management fee equal to or the greater of, (i) 2.5% per
annum of the aggregate offering proceeds, or (ii) $125,000 monthly, until such time as an amount equal to at least 15% of the Partnership’s
Limited Partners’ capital contributions have been returned to the Limited Partners, after which the monthly management fee
will equal 100% of the management fee as initially calculated above, less 1% for each additional 1% of the Partnership’s
Limited Partners’ capital contributions returned to them. Such amounts are measured on the last day of each month. The management
fee is paid regardless of the performance of the Partnership and will be adjusted in the future to reflect the total equity raised.
For the three months ended March 31, 2019 and 2018, the Partnership paid $375,000 in management fee expense to the Investment Manager. American Elm is a Delaware limited liability
company and in its capacity as the Partnership’s selling agent received an underwriting fee of 3% of the gross proceeds from
Limited Partners’ capital contributions (excluding proceeds, if any, the Partnership received from the sale of the Partnership’s
Units to the General Partner or its affiliates). For the three months ended March 31, 2019
and year ended December 31, 2018, the Partnership incurred no underwriting discounts or fees, and made no payments to Securities
as the offering period concluded on April 2, 2016.

Investments in Finance Leases

Investments in Finance Leases3 Months Ended
Mar. 31, 2019
Leases, Capital [Abstract]
Investments in Finance Leases4. Investments in Finance Leases At March 31, 2019 and December 31, 2018, net
investment in finance leases consisted of the following:
March 31, 2019 December 31, 2018
(unaudited)
Minimum rents receivable $ 1,211,804 $ 1,854,825
Estimated unguaranteed residual value 1,268,000 1,641,820
Unearned income (65,838 ) (71,942 )
Total $ 2,413,966 $ 3,424,703 Aircraft In connection with the consolidation of SQN
Helo, the Partnership holds two helicopter finance leases with two different third parties. As of December 31, 2016, these finance
leases had a net book value of $3,378,129. One finance lease requires 18 monthly payments of $79,167 which commenced in August
2016. Upon expiration of an operating lease in August 2017, the lease was restructured as a direct finance lease and the Partnership
reclassified it to investment in finance leases. This finance lease requires 24 monthly payments of $79,167 which commenced in
August 2017. The other finance lease requires 48 monthly payments of $32,500 commencing in April 2017. As of December 31, 2018,
the Partnership placed a reserve on the estimated residual value of one of the helicopters of $287,500. At March 31, 2019, the
net book value of the helicopters was $1,681,890. Furniture and Fixtures and Server Equipment On January 31, 2016, the Master Equipment Lease
for servers, fixtures and furniture for approximately $2,700,000 commenced and the Partnership reclassified the equipment note
to investment in finance lease. The finance lease requires 36 monthly payments of $77,727 which commenced on February 1, 2016.
On June 24, 2016, Juliet entered into a second finance lease transaction for servers, fixtures and furniture for $337,131. The
finance lease requires 31 monthly payments of $12,464 commenced on July 1, 2016. On February 1, 2019, Juliet amended and extended
both leases. The amended finance leases require 12 total monthly payments of $36,253 commencing on February 1, 2019. Anaerobic Digestion Plant On January 31, 2016, construction of the anaerobic
digestion plant was completed and the lease commenced and the Partnership reclassified the equipment note to investment in finance
lease. The lease requires 20 quarterly payments of £41,616 ($59,823 applying exchange rate of 1.4375 at May 16, 2016) began
on April 30, 2016. In 2018, with an effective date of November 2017, the lease agreement was amended and extended till November
2022. The amended finance lease requires 6 monthly payments of £5,000 commencing in November 2017 and 54 monthly payments
of £14,700 commencing in May 2018. As of December 31, 2018, this finance lease is in non-accrual status as a result of non-payment.
During the year ended December 31, 2018, the Partnership placed a reserve on this asset of $500,000. At March 31, 2019, there were
no significant changes to this lease. Gamma Knife Suite - TRCL On April 30, 2015, the Partnership acquired
from a third party, 20 quarterly lease payments with respect to a gamma knife suite leased to a hospital in the United Kingdom.
The Partnership paid £375,000 ($576,750 applying exchange rate of 1.538 at April 30, 2015) for the equipment lease receivables
which are payable under the lease from July 2015 through April 2020. The finance lease requires 20 quarterly payments of £25,060.
The equipment lease receivables are secured by the gamma knife suite. At March 31, 2019, there were no significant changes to
this lease.

Investments in Equipment Subjec

Investments in Equipment Subject to Operating Leases3 Months Ended
Mar. 31, 2019
Leases, Operating [Abstract]
Investments in Equipment Subject to Operating Leases5. Investments in Equipment Subject to Operating
Leases In connection with the consolidation of SQN
Helo, the Partnership holds four helicopter operating leases with two different third parties. As of December 31, 2016, these operating
leases had an aggregate net book value of $9,871,737. One operating lease requires monthly payments of $80,160 and expired in August
2017. Upon expiration of operating lease, this lease was restructured as a direct finance lease and the Partnership reclassified
it to investment in finance leases. The other three operating leases require 48 monthly payments of $32,500, $32,500 and $19,000,
respectively, commencing in April 2017. During the year ended December 31, 2018, the Partnership placed an aggregate reserve on
the estimated residual value of two of the helicopters of $507,000. At March 31, 2019, there were no significant changes to this
leases. March 31, 2019:
Description Cost Basis Accumulated Depreciation Net Book Value
(unaudited) (unaudited) (unaudited)
Aircraft (Helicopters) $ 8,925,030 $ 5,331,294 $ 3,593,736
$ 8,925,030 $ 5,331,294 $ 3,593,736 December 31, 2018:
Description Cost Basis Accumulated Depreciation Net Book Value
Aircraft (Helicopters) $ 8,925,030 $ 5,166,048 $ 3,758,982
$ 8,925,030 $ 5,166,048 $ 3,758,982 Depreciation expense for the three months
ended March 31, 2019 was $165,246.

Equipment Notes Receivable

Equipment Notes Receivable3 Months Ended
Mar. 31, 2019
Receivables [Abstract]
Equipment Notes Receivable6. Equipment Notes Receivable Manufacturing / Solar Equipment On June 29, 2016, SQN Gamma LLC, assigned its
commitment interest in a loan facility, under a Credit Agreement dated November 17, 2015, to the Partnership and to Juliet in the
amount of $3,893,165 and $2,500,000, respectively. On June 30, 2016, the Partnership and Juliet funded $3,893,165 and $2,500,000,
respectively under this loan facility. The loan facility accrues interest at a rate of 11% per annum and matures on March 31, 2021.
The borrower is required to make 51 monthly payments of principal and interest beginning on January 31, 2017 and an additional
final payment due at maturity date of 8% of the aggregate principal amount of loans made. On August 17, 2016, the Partnership funded
$730,170 to the same borrower. The loan facility accrues interest at a rate of 10.5% per annum and matures on August 1, 2019. The
borrower is required to make 36 monthly payments of principal and interest beginning on September 1, 2016 and an additional final
payment due at maturity date of 5% of the aggregate principal amount of loans made. The loan facilities are secured by solar products
manufacturing equipment. On January 18, 2017, the Partnership entered into an assignment agreement to sell the solar products manufacturing
equipment note dated June 29, 2016 for cash proceeds of $4,021,250 ($3,893,165 principal and $128,085 accrued interest). On March
29, 2017, the Partnership entered into an assignment agreement to repurchase the solar products manufacturing equipment note dated
June 29, 2016 for cash proceeds of $4,107,294 ($3,893,165 principal and $214,129 purchase interest). On April 17, 2017, the borrower
voluntarily filed for Chapter 11 bankruptcy protection. The Partnership received monthly payments in accordance with terms from
this borrower through February 28, 2017. During the year ended December 31, 2018, the Partnership and Juliet funded an aggregate
total of $1,485,167 to the borrower. As of March 31, 2019, the March 2017 through March 2019 monthly payments are outstanding,
therefore this loan facility is in non-accrual status as a result of the bankruptcy and of non-payment. As of March 31, 2019 and
December 31, 2018, the Partnership placed a reserve on this asset of $0 and $4,307,936, respectively. Construction Equipment On April 14, 2016, the Partnership, through
Juliet, acquired an interest in loan notes from a third party leasing company for $1,529,674. The loan notes are secured by a portable
wash plant and a fleet of cement mixers and dump trucks which are owned by a Texas-based construction company. Under the terms
of the loan agreement, the borrower is required to make 72 monthly payments of principal and interest of $28,865. The loan is scheduled
to mature on March 31, 2022. On June 3, 2016 and on June 24, 2016, the Partnership,
through Juliet, acquired additional interest in two loan notes from the third party leasing company for $205,000 and $1,289,163,
respectively. Under the terms of the loan agreements, the borrower is required to make 60 and 72 monthly payments of principal
and interest of $4,450 and $24,326, respectively. The loans are scheduled to mature on June 30, 2021 and June 30, 2022, respectively. On September 30, 2016 and in December 2016,
the Partnership, through Juliet, acquired an additional interest in a loan note from the third party leasing company for $1,426,732
and $1,619,283, respectively. Under the terms of the loan agreement, the borrower is required to make 72 monthly payments of principal
and interest of $57,925 and the loan is scheduled to mature on September 30, 2022. For the three months ended March 31, 2019,
the equipment notes earned interest income of $108,867. Transportation Equipment On January 23, 2016 and on March 4, 2016, the
Partnership acquired two loan notes from a third party leasing company for approximately $247,194 and $204,303, respectively. The
loans are secured by transportation equipment. Under the terms of the loan agreements, the borrower is required to make 72 monthly
payments of principal and interest of $4,697 and $4,045, respectively. The loans are scheduled to mature on January 23, 2022 and
March 3, 2022, respectively. For the three months ended March 31, 2019, the equipment notes earned interest income of $7,728. Secured Business Loans On December 31, 2015, Juliet extended two separate
loan facilities to two borrowers. The borrowers are both subsidiaries of a UK based parent company that provides small and medium
sized secured business loans (“Just Loans”). Each facility provides financing up to a maximum borrowing of £5,037,500
or together a total of £10,075,000 and accrues interest at a rate of 10% per annum. The funds can be drawn down in increments
of up to £1,000,000 per month per facility with the exception of the first draws which were each in the amount of £1,037,500
in order to fund a certain third party fee of £37,500. The loan is repayable in monthly interest only payments due on the
last day of each month. Principal is due nine months after December 31, 2016 on September 30, 2017 (“Termination Date”).
The loans are secured by share pledges of the borrowers, a guaranty from the UK based parent company, and the underlying loan portfolio
that Just Loans generates. In February 2016, the loan facilities were amended to include an annual fee, payable within 15 days
of end of calendar year, equal to 30% of the interest paid or payable in the immediately preceding calendar year. In connection
with the novation agreement, the Termination Date was extended to September 30, 2018. In December 2018, the Termination Date was
extended to December 31, 2019. On December 29, 2015, Juliet advanced a total of $2,974,000 to the Just Loans borrowers. On February
18, 2016, Juliet advanced a total of $2,878,000 to the Just Loans borrowers. On April 18, 2016, the Partnership, through its investment
in Juliet, advanced a total of $2,140,350 to the Just Loans borrowers. On December 13, 2016, Juliet advanced a total of $740,160
to the Just Loans borrowers. On March 29, 2017, Juliet entered into a deed of novation agreement to novate 85% of this loan note
to SQN Asset Finance (Ireland) Designated Activity Company (“SQN AFI”) and on March 31, 2017, Juliet received cash
proceeds of $6,416,092 from SQN AFI for the 85% interest. The loan note had a net book value of $6,273,670 resulting in a U.S.
GAAP gain of $142,422. On March 31, 2017, the Partnership advanced a total of $374,610 to the Just Loans borrowers. On April 28,
2017, the Partnership advanced a total of $370,187 to the Just Loans borrowers. For the three months ended March 31, 2019, the
equipment note earned interest income of $296,709. Towing Equipment On October 30, 2015, the Partnership acquired
a loan note from a third party leasing company for approximately $96,000. The loan is secured by a heavy duty tow truck which is
owned by a Connecticut-based towing and repair company. Under the terms of the loan agreement, the borrower is required to make
60 monthly payments of principal and interest of $2,041. The loan is scheduled to mature on October 31, 2020. On December 30, 2015,
the Partnership assigned this equipment notes receivable to Juliet. In May 2018, the loan note was amended whereby the borrower
is required to make 51 monthly payments of principal and interest of $2,450 commencing on June 1, 2018. The amended loan is scheduled
to mature on August 31, 2022. For the three months ended March 31, 2019, the equipment note earned interest income of $2,332. Tractor and Trailer Equipment On October 30, 2015 and on November 4, 2015,
the Partnership acquired two loan notes from a third party leasing company for approximately $147,919 and $15,000, respectively.
The loans are secured by tractor and trailer equipment. Under the terms of the loans agreements, the borrower is required to make
60 monthly payments of principal and interest of $3,255 and $330, respectively. The loans are scheduled to mature on October 31,
2020. On December 30, 2015, the Partnership assigned these equipment notes receivable to Juliet. For the three months ended March
31, 2019, the equipment notes earned interest income of $2,206. Mineral Processing Equipment On September 27, 2013, the Partnership entered
into a loan facility to provide financing up to a maximum borrowing of $3,000,000. The borrower is a Florida based company that
builds, refurbishes and services mineral refining and mining equipment in the United States, Central and South America. The loan
facility was secured by equipment that refines precious metals and other minerals. The Partnership advanced $2,500,000 to the borrower
during September 2013. The loan facility required 48 monthly payments of principal and interest of $68,718 (revised from original
payment of $69,577 upon second funding discussed below) and a balloon payment of $500,000 in September 2017. The loan facility
matured in September 2017. On May 9, 2014, the Partnership made a second funding of $500,000 to the borrower under the above agreement.
The loan facility required 41 monthly payments of principal and interest of $15,764 and matured in September 2017. The borrower’s
obligations under the loan facility were also personally guaranteed by its majority shareholders. On December 22, 2014, the outstanding principal
of $2,537,822 and accrued interest of $204,721 of this note receivable was restructured into a new note receivable of $2,883,347.
The new loan facility is secured by equipment that refines precious metals and other minerals and is guaranteed by the majority
shareholders of the Florida based company referred to above. The new loan facility requires 48 monthly payments of principal and
interest of $79,255 commencing on February 24, 2015 and a balloon payment of $500,000 in January 2019. The loan facility is scheduled
to mature in January 2019. In connection with above restructured note, on December 22, 2014, the Partnership entered into a $200,000
promissory note with the same borrower. The promissory note requires five annual payments of $150,000 commencing on January 25,
2019 and matures in January 2023. As of December 31, 2014, the Partnership advanced $100,000. In January 2015, the Partnership
advanced the remaining $100,000. In June 2015, the Partnership received a principal payment of $40,000. For the three months ended
March 31, 2019 and for the years ended December 31, 2018, 2017, 2016 and 2015, the mineral processing equipment note is in non-accrual
status as a result of non-payment. During the years ended December 31, 2018 and 2017, the Partnership placed a reserve on this
asset of $1,000,000 and $1,043,347, respectively. Based on a third party appraisal of the collateral value of the equipment, the
Investment Manager believes that there is sufficient collateral value to cover the remaining outstanding balance of the restructured
note receivable and the promissory note. Medical Equipment On December 19, 2014, the Partnership entered
into a $667,629 promissory note to finance the purchase of medical equipment located in Texas. The promissory note will be paid
through 60 monthly installments of principal and interest of $15,300. The promissory note is secured by a first priority security
interest in the medical equipment and other personal property located at the borrowers principal place of business. On December
30, 2015, the Partnership assigned this equipment note receivable to Juliet. For the three months ended March 31, 2019, the medical
equipment note earned interest income of $4,786. Brake Manufacturing Equipment On May 2, 2014, the Partnership purchased a
promissory note secured by brake manufacturing equipment with an aggregate principal amount of $432,000. The promissory note requires
quarterly payments of $34,786, accrues interest at 12.5% per annum and was scheduled to mature in January 2018. In May 2018, the
maturity date of the promissory note was extended to December 31, 2018. On December 31, 2018, the promissory note was amended as
follows: (i) borrower will make a payment of $5,000 by December 31, 2018; (ii) borrower will make a payment of $50,000 by March
31, 2019; (iii) commencing on April 1, 2019, borrower will make 36 monthly payments of $4,571; and (iv) the maturity date of the
promissory note was extended to March 31, 2022. For the three months ended March 31, 2019, the equipment note earned interest income
of $5,184. The future maturities of the Partnership’s
equipment notes receivable at March 31, 2019 are as follows:
Years ending March 31, (unaudited)
2020 5,576,322
2021 2,480,831
2022 2,220,009
2023 935,480
2024 4,611
$ 11,217,253

Residual Value Investment in Eq

Residual Value Investment in Equipment on Lease3 Months Ended
Mar. 31, 2019
Leases [Abstract]
Residual Value Investment in Equipment on Lease7. Residual Value Investment in Equipment on Lease On September 15, 2014, the Partnership entered
into a Residual Interest Purchase Agreement with a leasing company to purchase up to $3 million of residual value interests in
equipment. The leasing company has entered into a Master Lease Agreement with a third party to lease cash handling machines or
smart safes under one or more lease schedules with original equipment cost of $20 million (“OEC”) and a term of five
years from initiation of each lease schedule. In connection with the Master Lease Agreement, the leasing company has entered into
a finance arrangement with another third party to finance 85% of the OEC up to an aggregate facility of $17 million and the Partnership
has agreed to finance the remaining 15% of the OEC up to an aggregate facility of $3 million. On December 31, 2018, the Partnership
assigned this residual value investment to Marine. As of March 31, 2019, the Partnership had advanced a net total of $2,775,060.

Collateralized Loan Receivable

Collateralized Loan Receivable3 Months Ended
Mar. 31, 2019
Collateralized Loan Receivable [Abstract]
Collateralized Loan Receivable8. Collateralized Loan Receivable In July 2018, Juliet entered into an assignment
agreement with a third party whereby Juliet purchased a $2,000,000 promissory note. The promissory note accrues interest at the
rate of 9% per annum and matures on July 31, 2019. During August 2018, the Partnership and Juliet advanced a total of $1,715,500
(85% of principal plus accrued interest) for this note. On March 28, 2019, Juliet advanced the remaining $300,000 of this promissory
note. For the three months ended March 31, 2019, the promissory note earned interest income of $37,726. On May 30, 2018, the Partnership entered into
a loan agreement and a $5,000,000 promissory note with a borrower. On June 21, 2018, the Partnership assigned $3,400,000 of this
note to Juliet. On that same date, the Partnership and Juliet funded the $5,000,000 promissory note. The promissory note accrues
interest at the rate of 9% per annum, payable quarterly in arrears beginning on June 30, 2018, and matures on May 30, 2028. On
December 31, 2018, Juliet assigned $3,400,000 of this note to the Partnership. For the three months ended March 31, 2019, the promissory
note earned interest income of $110,000. On July 20, 2017, the Partnership, through
Juliet, provided secured financing in the amount of $3,867,435 after applicable exchange rates for a motion picture production
company in the United Kingdom. The loan is secured by all of the assets, including tax credits, of the borrower and all of the
borrower’s rights to proceeds from the motion picture. The loan accrues interest at a rate of 12% per annum and is scheduled
to mature 24 months after the funding date. During the year ended December 31, 2018, the Partnership received total interest payments
of $303,898. For the three months ended March 31, 2019, the loan facility earned interest income of $114,434. On September 23, 2016, the Partnership, through
Juliet, provided secured financing in the amount of $1,845,655 after applicable exchange rates for a motion picture production
company in the United Kingdom. The loan is secured by all of the assets, including tax credits, of the borrower and all of the
borrower’s rights to proceeds from the motion picture. The loan accrues interest at a rate of 12% per annum and was scheduled
to mature 24 months after the funding date. The loan was extended to September 22, 2019. During the year ended December 31, 2018,
the Partnership received total payments of principal and interest of $700,283. For the three months ended March 31, 2019, the loan
facility earned interest income of $25,750. On September 12, 2016, the Partnership, through
Juliet, provided secured financing in the amount of $2,215,270 after applicable exchange rates for a motion picture production
company in the United Kingdom. The loan is secured by all of the assets, including tax credits, of the borrower and all of the
borrower’s rights to proceeds from the motion picture. The loan accrues interest at a rate of 12% per annum and was scheduled
to mature 24 months after the funding date. The loan was extended to September 12, 2020. During the year ended December 31, 2018,
the Partnership received total interest payments of $58,456. For the three months ended March 31, 2019, the loan facility earned
interest income of $65,548. From July 21, 2016 through December 31, 2017,
the Partnership funded a total of $12,342,624 under a wholesale financing arrangement with an international leasing company that
does business between the United States and Mexico. During the year ended December 31, 2018, the Partnership funded an additional
total of $3,953,126 under this wholesale financing arrangement. The loans accrue interest at rate of 10% per annum and are secured
by industrial and manufacturing equipment subject to equipment leases. During the year ended December 31, 2018, the Partnership
received total payments of principal and interest of $6,688,653 from this wholesale financing arrangement. In June 2018, Juliet
sold a portion of this loan facility to SQN AFIF in the form of a senior participation interest for total cash proceeds of $5,568,262.
SQN AFIF’s principal balance is $6,125,700 and accrues interest at 10.75% per annum. SQN AFIF’s participation interest
is senior to Juliet’s interest. During the period ended March 31, 2019, the Partnership funded an additional total of $275,000
under this wholesale financing arrangement. During the period ended March 31, 2019, SQN AFIF funded an additional total of $2,035,318
in the form of a senior participation interest to the international leasing company. During the period ended March 31, 2019, the
Partnership received total payments of principal and interest of $1,504,095 from this wholesale financing arrangement. For the
three months ended March 31, 2019, the loan facility earned interest income of $321,130. On May 5, 2016, a third party on behalf of
Juliet, provided secured financing in the amount of $2,926,342 after applicable exchange rates for a motion picture production
company in the United Kingdom. The loan is secured by all of the assets, including tax credits, of the borrower and all of the
borrower’s rights to proceeds from the motion picture. The loan accrues interest at a rate of 12% per annum and was scheduled
to mature 24 months after the funding date. In June 2018, the maturity date of the loan facility was extended to May 5, 2020. During
the year ended December 31, 2018, the Partnership received total interest payments of $12,815. For the three months ended March
31, 2019, the loan facility earned interest income of $57,215. On April 25, 2016, the Partnership entered
into a loan agreement with a borrower to refinance the borrower’s loan facility. In connection with the refinancing, the
Partnership received a promissory note from the borrower in the amount of $1,763,230. The note accrues interest at a rate of 20%
per annum and matures on February 8, 2020. The borrower will make semi-annual payments of principal and interest in February and
August. On August 5, 2016, the Partnership received a payment of $452,604. In March 2017, the Partnership received total payments
of $335,644. In August 2017, the Partnership received total payments of $305,550. In February 2018, the Partnership received total
payments of $278,919. In August 2018, the Partnership received total payments of $253,133. In February 2019, the Partnership received
total payments of $227,775. For the three months ended March 31, 2019, the loan facility earned interest income of $35,229. On June 3, 2015, Alpha, a special purpose entity
which is 32.5% owned by the Partnership and 67.5% owned by SQN PAC, acquired a promissory note issued by a third party with a principal
amount equal to $2,650,000. The promissory note accrues interest at the rate of 11.1% per annum, payable quarterly in arrears,
and matures on June 30, 2020. The promissory note is secured by a pledge of shares in an investment portfolio of insurance companies
under common control of the third party which include equipment leases, direct hard asset and infrastructure investments, and other
securities. On June 3, 2015, a participation agreement was entered into between SQN PAC (“Alpha Participation A”),
the Partnership (“Alpha Participation B”), Alpha and SQN Capital Management, LLC. Under the agreement, Alpha created
two collateralized participation interests for the collateral; Alpha Participation A’s principal contribution is $1,788,750
and accrues interest at 9% per annum and Alpha Participation B’s principal contribution is $861,250 and accrues interest
at 15.05% per annum. SQN Capital Management, LLC was appointed as a servicer for the promissory note. Alpha Participation A’s
interest is senior to Alpha Participation B’s interest. For the three months ended March 31, 2019, the Alpha Participation
B earned interest income of $32,245. On August 13, 2015, the Partnership entered
into a Loan Note Instrument to provide €1,640,000 ($1,824,992 applying exchange rate of 1.1128 at August 13, 2015) (the “Facility”)
of financing to a borrower to acquire shares of a special purpose entity (the “SPE”). The SPE previously acquired,
by assignment, the rights to lease a parcel of land in Ireland on which planning permissions have been granted to construct an
aerobic digestion plant (“AD Plant”). The Facility accrues interest at the rate of 18% per annum, compounding monthly
on the last business day of each month, and matures on May 16, 2016. The maturity date was extended to November 30, 2016. The Facility
is secured by the shares of the SPE and also secured by a personal guaranty from the principal owner of the borrower. On May 13,
2016, in connection with an extension of the Facility, the Partnership funded an additional $56,750 after applicable exchange rates.
On July 29, 2016, the Partnership funded $1,574,724, after applicable exchange rates, under a Loan Note Instrument to provide additional
financing of the Facility. The Loan Note Instrument was scheduled to mature on November 30, 2016. On November 4, 2016, the Partnership
funded $700,000, after applicable exchange rates, under a Loan Note Instrument to provide additional financing of the Facility.
On November 30, 2016, the Loan Note Instruments were amended and the maturity date was extended to November 30, 2017. As of December
31, 2017 and 2016, the Loan Note Principal balance was $4,148,419. On February 28, 2018, the Loan Note Instruments were cancelled
and replaced with a Loan Note Instrument of €5,167,426, which accrues interest at the rate of 9% per annum, compounding monthly
on the last business day of each month, and matures on September 30, 2019. During the year ended December 31, 2018, the Partnership
received a payment of €126,979 ($145,377 applying exchange rate of 1.1449 at June 6, 2018). On December 31, 2018, the Partnership
assigned this Loan Note Instrument to Juliet. For the three months ended March 31, 2019, the Loan Note Instruments earned interest
income of $264,565. On December 28, 2015, the Partnership entered
into a loan agreement and a $2,000,000 promissory note with a borrower. The promissory note accrues interest at the rate of 11%
per annum, payable quarterly in arrears, and matures on December 28, 2020. On April 15, 2016, the loan agreement was amended and
restated and the maturity date was amended to December 30, 2024. During the year ended December 31, 2018, the Partnership received
interest payments of $220,000. For the three months ended March 31, 2019, the promissory notes earned interest income of $55,000. On October 2, 2015, the Partnership entered
in a syndicated loan agreement. Under the terms of the agreement, the Partnership agreed to contribute $5,000,000 of the $40,000,000
facility which will be secured by all of the equipment of the wood pellet business in Texas. The borrower’s parent company
also pledged assets located at the parent’s company’s headquarters in Germany as additional collateral for the loan.
In January 2016, the Partnership received cash of $2,610,959 as payment from this facility. On April 22, 2016, the Partnership
and a third party assigned their interests in this loan facility of $2,389,041 and $3,985,959, respectively to Juliet. For the
years ended December 31, 2018, 2017, 2016 and 2015, this loan is in non-accrual status. Based on an appraisal of the collateral
value of the equipment, the Investment Manager believes that there is sufficient collateral value to cover the outstanding balance
of this loan.

Equipment Investment Through SP

Equipment Investment Through SPV3 Months Ended
Mar. 31, 2019
Investments, All Other Investments [Abstract]
Equipment Investment Through SPV9. Equipment Investment through SPV On December 16, 2015, Marine, a special purpose
vehicle which is wholly owned by the Partnership, entered into a sale and assignment of partnership interest agreement with a third
party. Under the terms of the agreement, Marine acquired an 88.20% (90% of 98%) economic interest in a portfolio of container feeder
vessels. Marine acquired their economic interest in the vessels through a limited partnership interest in CONT Feeder, which acquired
and operates the container feeder vessels. CONT Feeder acquired six container feeder vessels for $37,911,665, drydocking fees of
$4,158,807 and inventory supplies of $337,923 for an aggregate investment of $42,408,395. As of March 31, 2019, the Partnership
has an aggregate investment balance of $30,694,362 consisting of feeder vessels of $29,234,510, drydocking fees of $1,233,807 and
inventory supplies of $226,045. CONT Feeder acquired and operates six container
feeder vessels which collect shipping containers from different ports and transport them to central container terminals where
they are loaded to bigger vessels. For the three months ended March 31, 2019, CONT Feeder recorded income of approximately $3,782,000
from charter rental fees less total expenses of $4,871,000, consisting of ship operating expenses, of approximately $2,505,000,
ship management fees and charter commissions fees of approximately $572,000, general and administrative expenses, of approximately
$865,000, depreciation expense, of approximately $677,000 and interest expense of approximately $252,000 resulting in a net loss
of approximately $1,089,000.

Other Assets

Other Assets3 Months Ended
Mar. 31, 2019
Other Assets [Abstract]
Other Assets10. Other Assets Other assets of $4,241,695 is primarily made
up of $2,682,057 related to the Partnership’s Equipment Investment through SPV and of $597,250 related to equipment held
off lease by SQN Helo.

Loans Payable

Loans Payable3 Months Ended
Mar. 31, 2019
Debt Disclosure [Abstract]
Loans Payable11. Loans Payable On April 22, 2016, Juliet, a third party and
the third party’s affiliate amended and restated the participation agreement dated December 29, 2015. Juliet borrowed a total
of approximately $14,621,000 in the form of a senior participation instruments with a third party and the third party’s affiliate
consisting of the outstanding principal payable balance of approximately $2,124,000 on the Just Loans transaction, the third party
also funded Juliet additional cash of approximately $8,511,000 and assigned their interests of approximately $3,986,000 in a loan
facility for a wood pellet business in Texas. The senior participation instrument accrues interest at the rate of 6% per annum
and also accrues PIK interest at the rate of 1.5% per annum. The senior participants, as collateral, have a first priority security
interest in all of the assets acquired by Juliet as well as a senior participation interest in all of the proceeds from the assets,
while Juliet has a junior participation interest until the loan is repaid in full. All of the cash proceeds received from these
assets are applied as follows (1), to pay accrued and unpaid interest of the senior participant, (2), to pay any cumulative interest
shortfall of the senior participant, (3), to pay accrued and unpaid interest of the junior participants, and (4), to reduce the
outstanding principal balance of the senior participation with any excess distributed to the junior participants. There was no
stated or agreed upon repayment term for the principal. On May 5, 2016, the third party provided additional financing, on behalf
of Juliet, in the amount of approximately $2,926,000 after applicable exchange rates. In connection with the CONT Feeder transaction,
Marine borrowed $7,500,000 and $9,604,091 in the form of a senior participation instruments with a third party and the third party’s
affiliate. The senior participation instrument accrues interest at the rate of 10% per annum and matures on December 16, 2020.
The senior participants, as collateral, have a first priority security interest in all of the assets acquired by CONT Feeder as
well as a senior participation interest in the proceeds from the assets, while Marine has a junior participation interest until
the loan is repaid in full. All of the cash proceeds received from these assets will be applied first against the outstanding principal
balance of the senior participation with any excess distributed to the junior participants. There was no stated or agreed upon
repayment term for the principal. In connection with the acquisition of container
vessels, CONT Feeder borrowed $14,375,654 from third parties. As of March 31, 2019, the CONT Feeder loan payable was $9,862,490. In connection with the consolidation of SQN
Helo, the Partnership had an aggregate loans payable balance of $9,245,578 to SQN AFIF and to a third party in the form of a senior
participation instruments. The senior participation instrument accrues interest at the rate of 7% per annum and PIK interest at
the rate of 3.5% per annum and matures on January 6, 2022. The interest rate was reduced to 6% and the PIK interest was terminated.
The senior participants, as collateral, have a first priority security interest in all of the assets acquired by SQN Helo as well
as a senior participation interest in the proceeds from the assets, while the Partnership and SQN PAC have a junior participation
interest until the loan is repaid in full. All of the cash proceeds received from these assets will be applied first against the
outstanding principal balance of the senior participation with any excess distributed to the junior participants. There was no
stated or agreed upon repayment term for the principal. As of March 31, 2019, the loan payable was $5,845,033.

Non-recourse Participation Inte

Non-recourse Participation Interest Payable3 Months Ended
Mar. 31, 2019
Fair Value Disclosures [Abstract]
Non-recourse Participation Interest Payable12. Non-recourse Participation Interest
Payable In June 2018, Juliet sold a portion of the
loan facility with an international leasing company that does business between the United States and Mexico to SQN AFIF in the
form of a senior participation interest for total cash proceeds of $6,125,700 (of which Juliet received cash proceeds of $5,568,262
and SQN Alternative Investment Fund III L.P., a Delaware limited partnership and a fund managed by the Partnership’s Investment
Manager, received cash proceeds of $557,438). SQN AFIF’s participation interest accrues interest at 10.75% per annum and
is senior to Juliet’s interest. This participation interest is without recourse to the Partnership. During the period ended
March 31, 2019, SQN AFIF funded an additional total of $2,035,318 in the form of a senior participation interest to the international
leasing company.

Fair Value of Financial Instrum

Fair Value of Financial Instruments3 Months Ended
Mar. 31, 2019
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments13. Fair Value of Financial Instruments The Partnership’s carrying value of cash
and cash equivalents, accounts payable and accrued liabilities, and other liabilities, approximate fair value due to their short
term until maturities. The Partnership’s carrying values and
approximate fair values of its financial instruments were as follows:
March 31, 2019 December 31, 2018
Carrying Value Fair Value Carrying Value Fair Value
(unaudited) (unaudited)
Assets:
Equipment notes receivable $ 11,217,253 $ 11,217,253 $ 11,307,808 $ 11,307,808
Collateralized loans receivable $ 47,200,293 $ 47,200,293 $ 46,031,941 $ 46,031,941
Liabilities:
Loans payable $ 68,164,914 $ 68,164,914 $ 68,065,196 $ 68,065,196 As of March 31, 2019, the Partnership evaluated
the carrying values of its financial instruments and they approximate fair values.

Business Concentrations

Business Concentrations3 Months Ended
Mar. 31, 2019
Risks and Uncertainties [Abstract]
Business Concentrations14. Business Concentrations For the three months ended March 31, 2019 and
2018, the Partnership had one lease which accounted for approximately 100% of the Partnership’s rental income derived from
operating leases. For the three months ended March 31, 2019, the Partnership had two leases which accounted for approximately 85%
and 15% of the Partnership’s income derived from finance leases. For the three months ended March 31, 2018, the Partnership
had three leases which accounted for approximately 49%, 19%, and 19% of the Partnership’s income derived from finance leases.
For the three months ended March 31, 2019, the Partnership had three notes/loans which accounted for approximately 21%, 18% and
12% of the Partnership’s interest income. For the three months ended March 31, 2018, the Partnership had three notes/loans
which accounted for approximately 22%, 20% and 12% of the Partnership’s interest income. At March 31, 2019, the Partnership had three
lessees which accounted for approximately 70%, 13% and 11% of the Partnership’s investment in finance leases. At March 31,
2018, the Partnership had four lessees which accounted for approximately 29%, 26%, 18% and 13% of the Partnership’s investment
in finance leases. At March 31, 2019 and 2018, the Partnership had one lessee which accounted for approximately 100% of the Partnership’s
investment in operating leases. At March 31, 2019, the Partnership had three notes which accounted for approximately 43%, 23%
and 20% of the Partnership’s investment in equipment notes receivable. At March 31, 2018, the Partnership had four notes
which accounted for approximately 35%, 31%, 14% and 12% of the Partnership’s investment in equipment notes receivable. At
March 31, 2019, the Partnership had four loans which accounted for approximately 28%, 14%, 13% and 13% of the Partnership’s
investment in collateralized loans receivable. At March 31, 2018, the Partnership had four loans which accounted for approximately
31%, 16%, 16% and 10% of the Partnership’s investment in collateralized loans receivable. At March 31, 2019 and 2018, the
Partnership had one lessee which accounted for approximately 100% of the Partnership’s investment in residual value leases.

Geographic Information

Geographic Information3 Months Ended
Mar. 31, 2019
Segment Reporting [Abstract]
Geographic Information15. Geographic Information Geographic information for revenue for the
three months ended March 31, 2019 and 2018 was as follows:
Three Months Ended March 31, 2019
United States Europe Mexico Total
(unaudited) (unaudited) (unaudited) (unaudited)
Revenue:
Rental income $ 252,000 $ — $ — $ 252,000
Finance income $ 891 $ 5,212 $ — $ 6,103
Interest income $ 437,269 $ 861,711 $ 135,337 $ 1,434,317
Income from equipment investment in SPV $ — $ 3,781,809 $ — $ 3,781,809
Three Months Ended March 31, 2018
United States Europe Mexico Total
(unaudited) (unaudited) (unaudited) (unaudited)
Revenue:
Rental income $ 252,000 $ — $ — $ 252,000
Finance income $ 350,782 $ 26,147 $ — $ 376,929
Interest income $ 392,303 $ 735,953 $ 313,562 $ 1,441,818
Income from equipment investment in SPV $ — $ 4,131,578 $ — $ 4,131,578 Geographic information for long-lived assets
at March 31, 2019 and December 31, 2018 was as follows:
March 31, 2019
United States Europe Mexico Total
(unaudited) (unaudited) (unaudited) (unaudited)
Long-lived assets:
Investment in finance leases, net $ 1,935,657 $ 478,309 $ — $ 2,413,966
Investments in equipment subject to operating leases, net $ 3,593,736 $ — $ — $ 3,593,736
Equipment notes receivable, including accrued interest $ 8,658,817 $ 2,358,874 $ 1,000,000 $ 12,017,691
Equipment investment through SPV $ — $ 30,694,362 $ — $ 30,694,362
Collateralized loan receivable, including accrued interest $ 10,319,805 $ 24,879,522 $ 13,816,159 $ 49,015,486
December 31, 2018
United States Europe Mexico Total
Long-lived assets:
Investment in finance leases, net $ 2,942,547 $ 482,156 $ — $ 3,424,703
Investments in equipment subject to operating leases, net $ 3,758,982 $ — $ — $ 3,758,982
Equipment notes receivable, including accrued interest $ 8,751,882 $ 2,259,075 $ 1,000,000 $ 12,010,957
Equipment investment through SPV $ — $ 31,413,881 $ — $ 31,413,881
Collateralized loan receivable, including accrued interest $ 10,512,351 $ 24,286,705 $ 12,688,806 $ 47,487,862

Indemnifications

Indemnifications3 Months Ended
Mar. 31, 2019
Notes to Financial Statements
Indemnifications16. Indemnifications The Partnership enters into contracts that
contain a variety of indemnifications. The Partnership’s maximum exposure under these arrangements is not known. In the normal course of business, the Partnership
enters into contracts of various types, including lease contracts, contracts for the sale or purchase of lease assets, and management
contracts. It is prevalent industry practice for most contracts of any significant value to include provisions that each of the
contracting parties, in addition to assuming liability for breaches of the representations, warranties, and covenants that are
part of the underlying contractual obligations, to also assume an obligation to indemnify and hold the other contractual party
harmless for such breaches, and for harm caused by such party’s gross negligence and willful misconduct, including, in certain
instances, certain costs and expenses arising from the contract. Generally, to the extent these contracts are performed in the
ordinary course of business under the reasonable business judgment of the General Partner and Investment Manager, no liability
will arise as a result of these provisions. The General Partner and Investment Manager know of no facts or circumstances that
would make the Partnership’s contractual commitments outside standard mutual covenants applicable to commercial transactions
between businesses. Accordingly, the Partnership 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 Partnership’s
similar commitments is remote. Should any such indemnification obligation become payable, the Partnership would separately record
and/or disclose such liability in accordance with U.S. GAAP.

Subsequent Events

Subsequent Events3 Months Ended
Mar. 31, 2019
Subsequent Events [Abstract]
Subsequent Events17. Subsequent Events On April 17, 2019, Juliet made an aggregate
total payment of $2,000,000 to the senior participants to paydown the loan payable balance. On April 17, 2019, Juliet made an interest
payment of $489,942 to SQN AFIF for the non-recourse participation interest payable balance.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)3 Months Ended
Mar. 31, 2019
Accounting Policies [Abstract]
Basis of PresentationBasis of Presentation
Principles of ConsolidationPrinciples of Consolidation Non-controlling interest represents the minority
equity holders’ investment in Alpha and CONT Feeder plus the minority’s share of the net operating results and other
components of equity relating to the non-controlling interest. Variable interests are investments or other
interests that absorb portions of a variable interest entity’s (“VIE”) expected losses or receive portions of
the Partnership’s expected residual returns and are contractual, ownership, or other pecuniary interests in a VIE that change
with changes in the fair value of the VIE. An entity is considered to be a VIE if any of the following conditions exist. (1) The
total equity investment at risk is insufficient to permit the legal entity to finance its activities without additional subordinated
financial support; or (2) As a group, the holders of equity investments at risk lack any of the three characteristics of a controlling
financial interest: (a) The direct or indirect ability through voting or similar rights to make decisions that have a significant
effect on the success of the legal entity. The equity holders at risk are deemed to lack this characteristic if: i. the voting
rights of some investors are not proportional to their obligation to absorb the expected losses of the legal entity or rights
to receive expected residual returns; and ii. substantially all of the legal entity’s activities are either involved with
or are conducted on behalf of an investor that has disproportionately few voting rights (b) The obligation to absorb the expected
losses of the legal entity or (c) The right to receive the expected residual returns of the legal entity. An entity that is determined
to be a VIE is required to be condensed consolidated by its primary beneficiary. The primary beneficiary of a VIE is determined
to be the party that has both the power to direct the activities that most significantly affect the VIE’s economic performance
(“Power”) and the obligation to absorb losses of, or the right to receive benefits from the VIE, that could potentially
be significant to the VIE (“Benefits”). The determination of whether a reporting entity is the primary beneficiary
involves complex and subjective analyses.
Use of EstimatesUse of estimates
Cash and Cash EquivalentsCash and Cash Equivalents The Partnership’s cash and cash equivalents
are held principally at one financial institution and at times may exceed federally insured limits. The Partnership has placed
these funds in an international financial institution in order to minimize risk relating to exceeding insured limits. The Partnership,
through Summit Asset Management Limited, maintains an unrestricted bank account at a major financial institution in the United
Kingdom for purposes of receiving payments and funding transactions in Pound Sterling.
Credit RiskCredit Risk
Asset ImpairmentsAsset Impairments
Lease Classification and Revenue RecognitionLease Classification and Revenue Recognition
The Partnership leases equipment to third parties
and each such lease may be classified as either a finance lease or an operating lease. Initial direct costs are capitalized and
amortized over the term of the related lease for a finance lease. For an operating lease, initial direct costs are included as
a component of the cost of the equipment and depreciated. For finance leases, the Partnership records,
at lease inception, the total minimum lease payments receivable from the lessee, the estimated unguaranteed residual value of the
equipment upon lease termination, the initial direct costs, if any, related to the lease and the related unearned income. Unearned
income represents the difference between the sum of the minimum lease payments receivable plus the estimated unguaranteed residual
value, minus the cost of the leased equipment. Unearned income is recognized as finance income over the term of the lease using
the effective interest rate method. For operating leases, rental income is recognized
on the straight line basis over the lease term. Billed and uncollected operating lease receivables will be included in accounts
receivable. Accounts receivable are stated at their estimated net realizable value. Rental income received in advance is the difference
between the timing of the cash payments and the income recognized on the straight line basis. The investment committee of the Investment
Manager approves each new equipment lease, financing transaction, and lease acquisition. As part of this process it determines
the unguaranteed residual value, if any, to be used once the acquisition has been approved. The factors considered in determining
the unguaranteed residual value include, but are not limited to, the creditworthiness of the potential lessee, the type of equipment
being considered, how the equipment is integrated into the potential lessees’ business, the length of the lease and the industry
in which the potential lessee operates. Unguaranteed residual values are reviewed for impairment in accordance with the Partnership’s
policy relating to impairment review. The residual value assumes, among other things,
that the asset will be 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. The residual value is calculated using information from various
external sources, such as trade publications, auction data, equipment dealers, wholesalers and industry experts, as well as inspection
of the physical asset and other economic indicators.
Finance Lease Receivables and Allowance for Doubtful Lease, Notes and Loan AccountsFinance Lease Receivables and Allowance
for Doubtful Lease, Notes and Loan Accounts
Equipment Notes and Loans ReceivableEquipment Notes and Loans Receivable
Initial Direct CostsInitial Direct Costs
Acquisition ExpenseAcquisition Expense
Income TaxesIncome Taxes The Partnership is subject to the Bipartisan
Budget Act of 2015 (“BBA”), which, among other requirements, stipulates that any tax liability incurred based on an
IRS tax examination will become due by the Partnership versus the partners of the Partnership. The Partnership, at its discretion,
will be able to seek repayment from its partners or treat as a distribution of the individual partners’ account to satisfy
this obligation. The Partnership will treat any liability incurred as a deduction to equity. As of March 31, 2019, there were no
expected liabilities to be incurred under the BBA. The Partnership has adopted the provisions
of FASB Topic 740, Accounting for Uncertainty in Income Taxes.
Per Share DataPer Share Data
Foreign Currency TransactionsForeign Currency Transactions
DepreciationDepreciation
Recent Accounting PronouncementsRecent Accounting Pronouncements In June 2016, the FASB issued ASU 2016-13,
Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments In February 2016, the FASB issued new guidance
to improve consolidation guidance for legal entities ASU 2016-02, Leases (Topic 842): Amendments to the FASB Accounting Standards
Codification ASU 2016-02 amends the existing accounting
standards for lease accounting, including requiring lessees to recognize most leases on their balance sheets, and makes targeted
changes to lessor accounting. Management does not believe that any other
recently issued, but not yet effective accounting pronouncements, if adopted, would have a material effect on the condensed consolidated
financial statements.

Investments in Finance Leases (

Investments in Finance Leases (Tables)3 Months Ended
Mar. 31, 2019
Leases, Capital [Abstract]
Schedule of Investments in Finance LeasesAt March 31, 2019 and December 31, 2018, net
investment in finance leases consisted of the following:
March 31, 2019 December 31, 2018
(unaudited)
Minimum rents receivable $ 1,211,804 $ 1,854,825
Estimated unguaranteed residual value 1,268,000 1,641,820
Unearned income (65,838 ) (71,942 )
Total $ 2,413,966 $ 3,424,703

Investments in Equipment Subj_2

Investments in Equipment Subject to Operating Leases (Tables)3 Months Ended
Mar. 31, 2019
Leases, Operating [Abstract]
Summary of Investments in Equipment Subject to Operating LeasesMarch 31, 2019:
Description Cost Basis Accumulated Depreciation Net Book Value
(unaudited) (unaudited) (unaudited)
Aircraft (Helicopters) $ 8,925,030 $ 5,331,294 $ 3,593,736
$ 8,925,030 $ 5,331,294 $ 3,593,736 December 31, 2018:
Description Cost Basis Accumulated Depreciation Net Book Value
Aircraft (Helicopters) $ 8,925,030 $ 5,166,048 $ 3,758,982
$ 8,925,030 $ 5,166,048 $ 3,758,982

Equipment Notes Receivable (Tab

Equipment Notes Receivable (Tables)3 Months Ended
Mar. 31, 2019
Receivables [Abstract]
Schedule of Future Maturity of Notes ReceivableThe future maturities of the Partnership’s
equipment notes receivable at March 31, 2019 are as follows:
Years ending March 31, (unaudited)
2020 5,576,322
2021 2,480,831
2022 2,220,009
2023 935,480
2024 4,611
$ 11,217,253

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)3 Months Ended
Mar. 31, 2019
Fair Value Disclosures [Abstract]
Schedule of Carrying Value of Financial InstrumentsThe Partnership’s carrying values and
approximate fair values of its financial instruments were as follows:
March 31, 2019 December 31, 2018
Carrying Value Fair Value Carrying Value Fair Value
(unaudited) (unaudited)
Assets:
Equipment notes receivable $ 11,217,253 $ 11,217,253 $ 11,307,808 $ 11,307,808
Collateralized loans receivable $ 47,200,293 $ 47,200,293 $ 46,031,941 $ 46,031,941
Liabilities:
Loans payable $ 68,164,914 $ 68,164,914 $ 68,065,196 $ 68,065,196

Geographic Information (Tables)

Geographic Information (Tables)3 Months Ended
Mar. 31, 2019
Segment Reporting [Abstract]
Schedule of Geographic Information for RevenueGeographic information for revenue for the
three months ended March 31, 2019 and 2018 was as follows:
Three Months Ended March 31, 2019
United States Europe Mexico Total
(unaudited) (unaudited) (unaudited) (unaudited)
Revenue:
Rental income $ 252,000 $ — $ — $ 252,000
Finance income $ 891 $ 5,212 $ — $ 6,103
Interest income $ 437,269 $ 861,711 $ 135,337 $ 1,434,317
Income from equipment investment in SPV $ — $ 3,781,809 $ — $ 3,781,809
Three Months Ended March 31, 2018
United States Europe Mexico Total
(unaudited) (unaudited) (unaudited) (unaudited)
Revenue:
Rental income $ 252,000 $ — $ — $ 252,000
Finance income $ 350,782 $ 26,147 $ — $ 376,929
Interest income $ 392,303 $ 735,953 $ 313,562 $ 1,441,818
Income from equipment investment in SPV $ — $ 4,131,578 $ — $ 4,131,578
Schedule of Geographic Information for Long-lived AssetsGeographic information for long-lived assets
at March 31, 2019 and December 31, 2018 was as follows:
March 31, 2019
United States Europe Mexico Total
(unaudited) (unaudited) (unaudited) (unaudited)
Long-lived assets:
Investment in finance leases, net $ 1,935,657 $ 478,309 $ — $ 2,413,966
Investments in equipment subject to operating leases, net $ 3,593,736 $ — $ — $ 3,593,736
Equipment notes receivable, including accrued interest $ 8,658,817 $ 2,358,874 $ 1,000,000 $ 12,017,691
Equipment investment through SPV $ — $ 30,694,362 $ — $ 30,694,362
Collateralized loan receivable, including accrued interest $ 10,319,805 $ 24,879,522 $ 13,816,159 $ 49,015,486
December 31, 2018
United States Europe Mexico Total
Long-lived assets:
Investment in finance leases, net $ 2,942,547 $ 482,156 $ — $ 3,424,703
Investments in equipment subject to operating leases, net $ 3,758,982 $ — $ — $ 3,758,982
Equipment notes receivable, including accrued interest $ 8,751,882 $ 2,259,075 $ 1,000,000 $ 12,010,957
Equipment investment through SPV $ — $ 31,413,881 $ — $ 31,413,881
Collateralized loan receivable, including accrued interest $ 10,512,351 $ 24,286,705 $ 12,688,806 $ 47,487,862

Organization and Nature of Op_2

Organization and Nature of Operations (Details Narrative)Feb. 28, 2018Sep. 29, 2017USD ($)Jun. 30, 2017USD ($)Mar. 31, 2017USD ($)Mar. 29, 2017USD ($)Apr. 15, 2016Dec. 29, 2015USD ($)Dec. 28, 2015USD ($)Dec. 16, 2015USD ($)Jun. 03, 2015USD ($)Jan. 07, 2015USD ($)Mar. 31, 2019USD ($)$ / sharesDec. 31, 2018USD ($)Mar. 31, 2019USD ($)Leases$ / sharessharesJun. 30, 2018Jun. 21, 2018USD ($)May 30, 2018USD ($)Dec. 31, 2017USD ($)Apr. 28, 2017USD ($)Jan. 19, 2017USD ($)Dec. 31, 2016USD ($)Dec. 13, 2016USD ($)Nov. 04, 2016USD ($)Apr. 22, 2016USD ($)Feb. 29, 2016Dec. 31, 2015GBP (£)
Debt face amount $ 4,148,419 $ 4,148,419 $ 700,000
Interest rate9.00%10.75%
Maturity dateSep. 30,
2019
Net book value9,871,737
Loans payable $ 67,507,108 $ 68,065,196 $ 67,507,108
Loan Agreement [Member]
Debt face amount $ 2,000,000 $ 5,000,000
Interest rate11.00%
Maturity dateDec. 30,
2024
Dec. 28,
2020
Maximum borrowing capacity $ 3,400,000
Juliet Participation A [Member]
Debt face amount $ 2,124,000
Interest rate6.00%
Equipment notes receivables $ 14,621,000
Loan facility, cash8,511,000
Loan facility, interest $ 3,986,000
Juliet Participation B [Member]
Interest rate12.00%
Limited Partner [Member]
Capital distribution $ 74,965,064
Number of partners | Leases1,508
Sale of unit | shares74,965.07
Distribution to limited partners $ 72,504,327
Cash applied for additional units $ 2,460,737
Partnership additional units purchased | shares2,460.74
SQN Alpha, LLC [Member] | Promissory Note [Member]
Debt face amount $ 2,650,000
Interest rate11.10%
Maturity dateJun. 30,
2020
SQN Alpha, LLC [Member] | Promissory Note [Member] | Alpha Participation A [Member]
Debt face amount $ 1,788,750
Interest rate9.00%
SQN Alpha, LLC [Member] | Promissory Note [Member] | Alpha Participation B [Member]
Debt face amount $ 861,250
Interest rate15.05%
SQN Juliet, LLC [Member] | Loan Agreement [Member]
Debt face amount $ 3,071,000
Interest rate8.50%
Maturity dateDec. 29,
2016
SQN Juliet, LLC [Member] | Participation Agreement [Member]
Equipment notes receivables $ 4,866,750
SQN Juliet, LLC [Member] | Juliet Participation A [Member]
Interest rate8.50%
Equipment notes receivables $ 3,071,000
SQN Juliet, LLC [Member] | Juliet Participation B [Member]
Equipment notes receivables $ 4,866,750
SQN Marine, LLC [Member] | Limited Partners [Member]
Percentage of ownership99.00%
Interest rate80.00%
SQN Marine, LLC [Member] | Partnership Interest Agreement [Member]
Acquisition of interest in assignment descriptionMarine acquired an 88.20% (90% of 98%) economic interest in a portfolio of container feeder vessels
Investment $ 28,266,789
Contributed amount12,135,718
SQN Marine, LLC [Member] | Partnership Interest Agreement [Member] | Third Parties One [Member]
Loans payable7,500,000
SQN Marine, LLC [Member] | Partnership Interest Agreement [Member] | Third Parties Two [Member]
Loans payable9,604,091
CONT Feeder [Member]
Interest rate10.00%10.00%
Loans payable $ 9,862,490 $ 9,862,490
CONT Feeder [Member] | Third Party [Member]
Contributed amount $ 3,140,754
Percentage of purchase of shares10.00%
CONT Feeder [Member] | Unrelated Third Party [Member]
Note payable $ 14,375,654
SQN Helo LLC [Member]
Participation interest $ 1,500,000
Purchase price of investment portfolio23,201,000
Cash paid for portfolio11,925,000
Nonrecourse indebtedness amount $ 11,276,000
Equity method investment advances $ 1,465,000
Distribution from related party $ 249,287 $ 250,000
American Elm Distribution Partners, LLC [Member]
Percentage of underwriting fee3.00%
Percentage of sales commission7.00%
Capital contribution percentage7.00%7.00%
Price per unit, offering | $ / shares $ 1,000 $ 1,000
SQN Alpha, LLC [Member]
Percentage of ownership32.50%
SQN Portfolio Acquisition Company, LLC [Member]
Percentage of ownership67.50%
SQN Helo LLC [Member]
Partnership additional equity investment $ 3,325,506
Controlling financial interest75.00%76.00%
SQN Marine, LLC [Member] | General Partner [Member]
Percentage of ownership1.00%
Interest rate20.00%
SQN AIF IV GP, LLC [Member]
Partnership contribution $ 100 $ 100
Percentage of ownership1.00%1.00%
SQN Alpha, LLC [Member]
Percentage of investment for non-controlling interest67.50%
UK Based Parent Company [Member] | Just Loans [Member]
Interest rate30.00%10.00%
UK Based Parent Company [Member] | Just Loans [Member] | GBP [Member]
Debt face amount | £ £ 10,075,000
Maximum borrowing capacity | £5,037,500
Draw down amount | £1,000,000
UK Based Parent Company [Member] | Just Loans [Member] | GBP [Member] | First Draws [Member]
Draw down amount | £1,037,500
Third party fee | £ £ 37,500
SQN AFI [Member]
Percentage of loan85.00%85.00%
SQN Asset Finance [Member]
Maximum borrowing capacity $ 374,610 $ 370,187
Percentage of loan85.00%
Advances to loan issuer $ 6,416,092 $ 6,416,092
Facility expiration dateSep. 30,
2018
Dec. 31,
2019
Net book value6,273,670
Gain on financing lease $ 142,422
SQN Juliet, LLC [Member]
Advances to loan issuer $ 740,160
SQN PAC [Member]
Debt face amount $ 2,650,000
Interest rate11.10%
Maturity dateJun. 30,
2020
SQN PAC [Member] | SQN Helo LLC [Member]
Percentage of ownership25.00%50.00%
Participation interest $ 1,500,000
Partnership [Member] | SQN Helo LLC [Member]
Percentage of ownership50.00%

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details Narrative) - USD ($)3 Months Ended12 Months Ended
Mar. 31, 2019Mar. 31, 2018Dec. 31, 2018
Provision for lease, note, and loan losses $ 752,611 $ 6,608,386
Informage SQN Technologies LLC [Member]
Description of principal activitiesAccording to U.S. GAAP, a company that holds 20% or greater investment in another company could potentially exercise significant influence over the investee company's operating and financing activities and should therefore utilize the equity method of accounting.

Related Party Transactions (Det

Related Party Transactions (Details Narrative) - USD ($)3 Months Ended12 Months Ended
Mar. 31, 2019Mar. 31, 2018Dec. 31, 2018
Maximum percentage of average management fees2.00%
Percentage of promotional interest20.00%
Percentage of cumulative return on capital contributions8.00%
Percentage of distributed distributable cash received by general partner1.00%1.00%
Description of management feeThe Partnership pays the Investment Manager during the Offering Period, Operating Period and the Liquidation Period a management fee equal to or the greater of, (i) 2.5% per annum of the aggregate offering proceeds, or (ii) $125,000 monthly, until such time as an amount equal to at least 15% of the Partnership's Limited Partners' capital contributions have been returned to the Limited Partners, after which the monthly management fee will equal 100% of the management fee as initially calculated above, less 1% for each additional 1% of the Partnership's Limited Partners' capital contributions returned to them. Such amounts are measured on the last day of each month.
Management fee expense $ 375,000 $ 375,000
Percentage of gross proceeds of offering - underwriting fees3.00%
General Partners [Member]
Percentage interest in profits, losses and distributions of the partnership1.00%

Investments in Finance Leases_2

Investments in Finance Leases (Details Narrative)Feb. 01, 2019USD ($)Jun. 24, 2016USD ($)May 16, 2016USD ($)Jan. 31, 2016USD ($)Jan. 31, 2016GBP (£)Apr. 30, 2015GBP (£)Sep. 15, 2014USD ($)May 31, 2018GBP (£)Nov. 30, 2017GBP (£)Aug. 31, 2017USD ($)Apr. 30, 2017USD ($)Dec. 31, 2018USD ($)Dec. 31, 2016USD ($)Mar. 31, 2019USD ($)Jun. 06, 2018Apr. 30, 2015USD ($)Apr. 30, 2015GBP (£)
Net book value $ 9,871,737
Payment of equipment lease receivables $ 20,000,000
Foreign currency exchange rate1.1449
Anaerobic Digestion Plant [Member]
Lease term54 months6 months
Payment of equipment lease receivables $ 59,823
Investment reserve on asset $ 500,000
Foreign currency exchange rate1.4375
Anaerobic Digestion Plant [Member] | GBP [Member]
Lease term20 months20 months
Payment of equipment lease receivables | £ £ 41,616 £ 14,700 £ 5,000
Gamma Knife Suite [Member]
Furniture, fixtures and equipment lease $ 576,750
Foreign currency exchange rate1.538 1.538
Lease payable dateJuly 2015 through April 2020
Gamma Knife Suite [Member] | GBP [Member]
Lease term20 months
Payment of equipment lease receivables | £ £ 25,060
Furniture, fixtures and equipment lease | £ £ 375,000
Furniture and Fixtures and Server Equipment [Member]
Lease term12 months31 months36 months36 months
Payment of equipment lease receivables $ 36,253 $ 12,464 $ 77,727
Furniture, fixtures and equipment lease $ 337,131 $ 2,700,000
Aircraft [Member]
Net book value $ 3,378,129 $ 1,681,890
Lease term24 months18 months
Payment of equipment lease receivables $ 79,167 $ 79,167
Other finance lease monthly payments48 months
Other finance lease payments $ 32,500
One Aircraft [Member]
Investment reserve on asset $ 287,500

Investments in Finance Leases -

Investments in Finance Leases - Schedule of Investments in Finance Leases (Details) - USD ($)Mar. 31, 2019Dec. 31, 2018
Leases, Capital [Abstract]
Minimum rents receivable $ 1,211,804 $ 1,854,825
Estimated unguaranteed residual value1,268,000 1,641,820
Unearned income(65,838)(71,942)
Total investments in finance leases $ 2,413,966 $ 3,424,703

Investments in Equipment Subj_3

Investments in Equipment Subject to Operating Leases (Details Narrative) - USD ($)3 Months Ended12 Months Ended
Mar. 31, 2019Dec. 31, 2018Dec. 31, 2016Sep. 15, 2014
Net book value $ 9,871,737
Operating leases amount $ 80,160
Operating lease expirationexpired in August 2017
Lease term5 years
Depreciation expenses $ 165,246
Two Aircraft [Member]
Investment reserve on asset $ 507,000
Operating Lease One [Member ]
Operating leases amount $ 32,500
Lease term48 months
Operating Lease Two [Member ]
Operating leases amount $ 32,500
Lease term48 months
Operating Lease Three [Member ]
Operating leases amount $ 19,000
Lease term48 months

Investments in Equipment Subj_4

Investments in Equipment Subject to Operating Leases - Summary of Investments in Equipment Subject to Operating Leases (Details) - USD ($)Mar. 31, 2019Dec. 31, 2018
Cost Basis $ 8,925,030 $ 8,925,030
Accumulated Depreciation5,331,294 5,166,048
Net Book Value3,593,736 3,758,982
Aircraft (Helicopters) [Member]
Cost Basis8,925,030 8,925,030
Accumulated Depreciation5,331,294 5,166,048
Net Book Value $ 3,593,736 $ 3,758,982

Equipment Notes Receivable (Det

Equipment Notes Receivable (Details Narrative)Mar. 31, 2019USD ($)Jan. 25, 2019USD ($)Jun. 21, 2018USD ($)Feb. 28, 2018EUR (€)Jul. 20, 2017USD ($)Mar. 31, 2017USD ($)Mar. 29, 2017USD ($)Jan. 18, 2017USD ($)Aug. 17, 2016USD ($)Jun. 30, 2016USD ($)Jun. 29, 2016USD ($)Jun. 24, 2016USD ($)Jun. 03, 2016USD ($)Apr. 14, 2016USD ($)Mar. 04, 2016USD ($)Jan. 23, 2016USD ($)Nov. 04, 2015USD ($)Oct. 30, 2015USD ($)Feb. 24, 2015USD ($)Dec. 19, 2014USD ($)May 09, 2014USD ($)May 02, 2014USD ($)Sep. 27, 2013USD ($)Jan. 31, 2019USD ($)May 31, 2018USD ($)Jun. 30, 2015USD ($)Mar. 31, 2019USD ($)Dec. 31, 2018USD ($)Jun. 30, 2018Dec. 31, 2017USD ($)Sep. 30, 2017USD ($)Apr. 28, 2017USD ($)Dec. 31, 2016USD ($)Dec. 13, 2016USD ($)Nov. 04, 2016USD ($)Sep. 30, 2016USD ($)Apr. 22, 2016USD ($)Apr. 18, 2016USD ($)Feb. 29, 2016Feb. 18, 2016USD ($)Dec. 31, 2015GBP (£)Dec. 29, 2015USD ($)Jan. 31, 2015USD ($)Dec. 31, 2014USD ($)Dec. 22, 2014USD ($)
Debt face amount $ 4,148,419 $ 4,148,419 $ 700,000
Interest rate9.00%10.75%
Maturity dateSep. 30,
2019
Accrued interest | € € 5,167,426
Interest income debt $ 296,709
Net book value9,871,737
Partnership [Member]
Debt face amount $ 374,610 $ 370,187
Interest rate9.00%12.00%
Maturity dateMay 30,
2028
Loan facility term24 months
Interest income debt114,434
Loan facility maximum borrowing $ 5,000,000 $ 3,867,435 $ 2,389,041
SQN Juliet, LLC [Member]
Advances to loan issuer $ 740,160
SQN AFI [Member]
Percentage of loan85.00%85.00%
Proceeds from related party $ 6,416,092
Deed of Novation Agreement [Member] | SQN AFI [Member]
Percentage of loan85.00%
Partnership [Member]
Loan facility interest and principal payment $ 2,500,000
Juliet [Member]
Loan facility interest and principal payment $ 3,893,165
Net book value $ 6,273,670 6,273,670
Gain on financing lease142,422
Manufacturing/Solar Equipment [Member] | Assignment Agreement [Member]
Debt face amount $ 3,893,165 $ 3,893,165
Proceeds from issuance of debt4,107,294 4,021,250
Accrued interest $ 214,129 $ 128,085
Partnership reserve on asset0 0 $ 4,307,936
Manufacturing/Solar Equipment [Member] | Partnership [Member]
Debt face amount $ 730,170 $ 3,893,165
Interest rate10.50%11.00%
Maturity dateAug. 1,
2019
Mar. 31,
2021
Loan facility term36 months51 months
Interest rate balloon payment5.00%8.00%
Manufacturing/Solar Equipment [Member] | Juliet [Member]
Debt face amount $ 2,500,000
Interest rate11.00%
Maturity dateMar. 31,
2021
Loan facility term51 months
Interest rate balloon payment8.00%
Manufacturing/Solar Equipment [Member] | Partnership and Juliet [Member]
Debt face amount1,485,167
Construction Equipment [Member]
Debt face amount $ 1,289,163 $ 205,000 $ 1,529,674
Loan facility interest and principal payment $ 24,326 $ 4,450 $ 28,865
Maturity dateJun. 30,
2022
Jun. 30,
2021
Mar. 31,
2022
Loan facility term72 months60 months72 months
Interest income debt108,867
Construction Equipment [Member] | Juliet [Member]
Debt face amount $ 1,619,283 $ 1,426,732
Loan facility interest and principal payment $ 57,925
Maturity dateSep. 30,
2022
Loan facility term72 months
Transportation Equipment [Member]
Debt face amount $ 204,303 $ 247,194
Loan facility interest and principal payment $ 4,045 $ 4,697
Maturity dateMar. 3,
2022
Jan. 23,
2022
Loan facility term72 months72 months
Interest income debt $ 7,728
Secured Business Loans [Member]
Interest rate10.00%
Interest rate balloon payment30.00%
Advances to loan issuer $ 2,974,000
Secured Business Loans [Member] | SQN Juliet, LLC [Member]
Advances to loan issuer $ 740,160 $ 2,140,350 $ 2,878,000
Secured Business Loans [Member] | GBP [Member]
Debt face amount | £ £ 10,075,000
Loan facility maximum borrowing | £5,037,500
Draw down amount | £1,000,000
Amount funded to third party | £1,037,500
Third party fee | £ £ 37,500
Towing Equipment [Member]
Debt face amount $ 96,000
Loan facility interest and principal payment $ 2,041 $ 2,450
Maturity dateOct. 31,
2020
Aug. 31,
2022
Loan facility term60 months51 months
Interest income debt2,332
Tractor and Trailer Equipment [Member]
Debt face amount $ 15,000 $ 147,919
Loan facility interest and principal payment $ 330 $ 3,255
Maturity dateOct. 31,
2020
Oct. 31,
2020
Loan facility term60 months60 months
Interest income debt2,206
Mineral Processing Equipment [Member]
Loan facility interest and principal payment $ 68,718
Maturity dateSep. 30,
2017
Loan facility term48 months
Partnership reserve on asset1,000,000 $ 1,043,347
Loan facility maximum borrowing $ 3,000,000
Advances to loan issuer2,500,000
Original payment $ 69,577
Loan facility balloon payment $ 500,000
Mineral Equipment Loan Facility [Member]
Debt face amount $ 500,000
Loan facility interest and principal payment $ 15,764
Maturity dateSep. 30,
2017
Loan facility term41 months
Mineral Equipment Promissory Note Refinance [Member]
Debt face amount $ 200,000
Loan facility interest and principal payment $ 79,255
Maturity dateJan. 31,
2023
Jan. 31,
2019
Loan facility term48 months
Accrued interest204,721
Loan facility balloon payment $ 500,000
Outstanding principal amount $ 150,000 2,537,822
Note receivable $ 2,883,347
Mineral Processing Equipment Promissory Note [Member]
Advances to loan issuer $ 100,000 $ 100,000
Loan principal payment $ 40,000
Medical Equipment Note 1 [Member]
Debt face amount $ 667,629
Loan facility interest and principal payment $ 15,300
Loan facility term60 months
Interest income debt $ 4,786
Brake Manufacturing Equipment Notes Receivable [Member]
Debt face amount $ 432,000
Loan facility interest and principal payment $ 50,000 $ 34,786 5,000
Interest rate12.50%
Maturity dateJan. 31,
2018
Dec. 31,
2018
Mar. 31,
2022
Interest income debt $ 5,184
Brake Manufacturing Equipment Notes Receivable [Member] | April 1, 2019 [Member]
Loan facility interest and principal payment $ 4,571
Loan facility term36 months

Equipment Notes Receivable - Sc

Equipment Notes Receivable - Schedule of Future Maturity of Notes Receivable (Details)Mar. 31, 2019USD ($)
Receivables [Abstract]
2020 $ 5,576,322
20212,480,831
20222,220,009
2023935,480
20244,611
Total $ 11,217,253

Residual Value Investment in _2

Residual Value Investment in Equipment on Lease (Details Narrative) - USD ($)Sep. 15, 2014Mar. 31, 2019Dec. 31, 2018
Original equipment cost $ 20,000,000
Lease term5 years
Residual value investment in equipment on lease $ 2,775,060 $ 2,775,060
Master Lease Agreement [Member]
Percentage of financing15.00%
Lease commitment $ 3,000,000
Master Lease Agreement [Member] | Third Party [Member]
Percentage of financing85.00%
Lease commitment $ 17,000,000
Maximum [Member] | Residual Interest Purchase Agreement [Member]
Original equipment cost $ 3,000,000

Collateralized Loan Receivable

Collateralized Loan Receivable (Details Narrative)Jul. 31, 2018USD ($)Jun. 21, 2018USD ($)Feb. 28, 2018EUR (€)Jul. 20, 2017USD ($)Sep. 23, 2016USD ($)Sep. 12, 2016USD ($)Aug. 05, 2016USD ($)May 13, 2016USD ($)May 05, 2016USD ($)Apr. 25, 2016USD ($)Apr. 15, 2016Dec. 28, 2015USD ($)Oct. 02, 2015USD ($)Aug. 13, 2015USD ($)Jun. 03, 2015USD ($)Feb. 28, 2019USD ($)Aug. 31, 2018USD ($)Jun. 30, 2018USD ($)Feb. 28, 2018USD ($)Aug. 31, 2017USD ($)Mar. 31, 2017USD ($)Jan. 31, 2016USD ($)Mar. 31, 2019USD ($)Dec. 31, 2018USD ($)Dec. 31, 2018EUR (€)Mar. 28, 2019USD ($)Jun. 06, 2018May 30, 2018USD ($)Dec. 31, 2017USD ($)Apr. 28, 2017USD ($)Dec. 31, 2016USD ($)Nov. 04, 2016USD ($)Jul. 29, 2016USD ($)Apr. 22, 2016USD ($)Aug. 13, 2015EUR (€)
Debt face amount $ 4,148,419 $ 4,148,419 $ 700,000
Promissory note interest rate percentage9.00%10.75%
Promissory note maturity dateSep. 30,
2019
Interest income $ 296,709
Payment of facility | € € 126,979
Foreign currency exchange rate1.1449
Accrued interest | € € 5,167,426
SQN PAC [Member]
Debt face amount $ 2,650,000
Promissory note interest rate percentage11.10%
Promissory note maturity dateJun. 30,
2020
General Partners [Member]
Percentage of ownership interest, special purpose entity32.50%
SQN PAC [Member]
Percentage of ownership interest, special purpose entity67.50%
Partnership [Member]
Debt face amount $ 374,610 $ 370,187
Promissory note interest rate percentage9.00%12.00%
Promissory note maturity dateMay 30,
2028
Loan facility maximum borrowing capacity $ 5,000,000 $ 3,867,435 $ 2,389,041
Interest income114,434
Loan facility term24 months
Payment for principal interest $ 303,898
Juliet [Member]
Promissory note interest rate percentage9.00%
Promissory note maturity dateMay 30,
2028
Loan facility maximum borrowing capacity $ 5,000,000 3,400,000 $ 3,985,959
Partnership and Juliet [Member]
Interest income110,000
Partnership One [Member]
Promissory note interest rate percentage12.00%
Loan facility maximum borrowing capacity $ 1,845,655
Interest income25,750
Loan facility term24 months
Payment for principal interest700,283
Partnership Two [Member]
Promissory note interest rate percentage12.00%
Loan facility maximum borrowing capacity $ 2,215,270
Interest income65,548
Loan facility term24 months
Payment for principal interest58,456
Partnership Three [Member]
Debt face amount $ 6,125,700 275,000 $ 3,953,126
Promissory note interest rate percentage10.75%10.00%
Interest income135,337
Payment for principal interest321,130 $ 6,688,653
Total cash proceeds from issuance of debt $ 5,568,262
Partnership Three [Member] | July 21, 2016 through December 31, 2017 [Member]
Debt face amount12,342,624
SQN AFIF [Member]
Debt face amount2,035,318
Promissory Note [Member]
Interest income37,726
Loan Note Instrument [Member]
Debt face amount $ 1,574,724 € 1,640,000
Promissory note maturity dateNov. 30,
2016
Interest income264,565
Payment of facility145,377
Promissory note maturity date, startingMay 16,
2016
Proceeds from additional line of credit $ 56,750
Loan Note Instrument One [Member]
Debt face amount $ 1,824,992
Promissory note interest rate percentage18.00%18.00%
Foreign currency exchange rate1.1128 1.1128
Juliet [Member]
Total cash proceeds from issuance of debt $ 5,568,262
Juliet [Member] | Promissory Note [Member]
Amount advanced to third party $ 300,000
Third Party [Member]
Promissory note interest rate percentage12.00%
Promissory note maturity dateMay 5,
2020
Loan facility maximum borrowing capacity $ 2,926,342
Interest income57,215
Loan facility term24 months
Payment for principal interest12,815
Proceeds from additional line of credit $ 2,926,000
Assignment Agreement [Member] | Juliet [Member]
Debt face amount $ 2,000,000
Promissory note interest rate percentage9.00%
Promissory note maturity dateJul. 31,
2019
Assignment Agreement [Member] | Partnership and Juliet [Member]
Promissory note interest rate percentage85.00%
Loan facility maximum borrowing capacity $ 1,715,500
Loan Agreement [Member]
Debt face amount $ 2,000,000 $ 5,000,000
Promissory note interest rate percentage11.00%
Promissory note maturity dateDec. 30,
2024
Dec. 28,
2020
Loan facility maximum borrowing capacity $ 3,400,000
Interest income55,000 $ 220,000
Payment of facility $ 452,604 $ 227,775 $ 253,133 $ 278,919 $ 305,550 $ 335,644
Loan Agreement [Member] | Promissory Note [Member]
Interest income35,229
Loan Agreement [Member] | Promissory Note [Member] | Borrower [Member]
Debt face amount $ 1,763,230
Promissory note interest rate percentage20.00%
Promissory note maturity dateFeb. 8,
2020
Participation Agreement [Member] | Alpha Participation A [Member]
Debt face amount $ 1,788,750
Promissory note interest rate percentage9.00%
Participation Agreement [Member] | Alpha Participation B [Member]
Debt face amount $ 861,250
Promissory note interest rate percentage15.05%
Interest income $ 32,245
Syndicated Loan Agreement [Member]
Payment of facility $ 2,610,959
Contributed amount $ 5,000,000
Borrowing amount $ 40,000,000

Equipment Investment through _2

Equipment Investment through SPV (Details Narrative)Dec. 16, 2015USD ($)ContainerMar. 31, 2019USD ($)Mar. 31, 2018USD ($)
Depreciation expense $ 677,000 $ 677,000
Interest expense1,105,083 $ 1,133,890
CONT Feeder [Member]
Income3,782,000
Charter rental fees4,871,000
Ship operating expenses2,505,000
Ship management fees and charter commissions fees572,000
General and administrative expenses865,000
Depreciation expense677,000
Interest expense252,000
Net loss1,089,000
SQN Marine, LLC [Member]
Acquisition of interest in assignment descriptionMarine acquired an 88.20% (90% of 98%) economic interest in a portfolio of container feeder vessels.
Percentage of acquired interest88.20%
SQN Marine, LLC [Member] | CONT Feeder [Member]
Number of container feeders vessels | Container6
Payment to acquire equipment investment $ 37,911,665
Drydocking fees4,158,807 1,233,807
Inventory supplies337,923 226,045
Investment $ 42,408,395 30,694,362
SQN Marine, LLC [Member] | Feeder Vessels [Member]
Investment $ 29,234,510

Other Assets (Details Narrative

Other Assets (Details Narrative)Mar. 31, 2019USD ($)
Other assets receivable $ 4,241,695
Partnership's Equipment Investment through SPV [Member] | Maximum [Member]
Other assets receivable2,682,057
Partnership's Equipment Investment through SQN Helo [Member]
Other assets receivable $ 597,250

Loans Payable (Details Narrativ

Loans Payable (Details Narrative) - USD ($)Feb. 28, 2018May 05, 2016Jun. 30, 2018Mar. 31, 2019Dec. 31, 2018Dec. 31, 2017Dec. 31, 2016Nov. 04, 2016Apr. 22, 2016
Loan facility $ 4,148,419 $ 4,148,419 $ 700,000
Interest rate9.00%10.75%
Maturity dateSep. 30,
2019
Loan payable $ 67,507,108 $ 68,065,196
SQN Helo [Member]
Loan payable $ 5,845,033
Third Party [Member]
Interest rate12.00%
Proceeds from line of credit $ 2,926,000
Maturity dateMay 5,
2020
SQN Helo [Member]
Interest rate7.00%
Loan payable $ 9,245,578
SQN Helo [Member] | PIK Interest [Member]
Interest rate3.50%
Maturity dateJan. 6,
2022
CONT Feeder [Member]
Proceeds from related party debt $ 14,375,654
Maturity dateDec. 16,
2020
SQN Juliet, LLC [Member] | Third Party Affiliate [Member]
Borrowings $ 14,621,000
Loan facility2,124,000
Loan facility, cash8,511,000
Loan facility, interest $ 3,986,000
Interest rate6.00%
SQN Juliet, LLC [Member] | Third Party Affiliate [Member] | PIK Interest [Member]
Interest rate1.50%
CONT Feeder [Member]
Interest rate10.00%
Loan payable $ 9,862,490
CONT Feeder [Member] | Third Party Affiliate [Member]
Proceeds from related party debt9,604,091
CONT Feeder [Member] | Third Party [Member]
Proceeds from related party debt $ 7,500,000

Non-recourse Participation In_2

Non-recourse Participation Interest Payable (Details Narrative) - USD ($)1 Months Ended
Jun. 30, 2018Mar. 31, 2019Feb. 28, 2018Dec. 31, 2017Dec. 31, 2016Nov. 04, 2016
Interest rate percentage10.75%9.00%
Debt face amount $ 4,148,419 $ 4,148,419 $ 700,000
Juliet [Member]
Proceeds from issuance of debt $ 5,568,262
Partnership's Investment Manager [Member]
Proceeds from issuance of debt557,438
Senior Participation [Member]
Proceeds from issuance of debt $ 6,125,700
SQN AFIF [Member]
Debt face amount $ 2,035,318

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Schedule of Carrying Value of Financial Instruments (Details) - USD ($)Mar. 31, 2019Dec. 31, 2018
Equipment notes receivable $ 12,017,691 $ 12,010,957
Collateralized loans receivable49,015,486 47,487,862
Loans payable67,507,108 68,065,196
Carrying Value [Member]
Equipment notes receivable11,217,253 11,307,808
Collateralized loans receivable47,200,293 46,031,941
Loans payable68,164,914 68,065,196
Fair Value [Member]
Equipment notes receivable11,217,253 11,307,808
Collateralized loans receivable47,200,293 46,031,941
Loans payable $ 68,164,914 $ 68,065,196

Business Concentrations (Detail

Business Concentrations (Details Narrative)3 Months Ended
Mar. 31, 2019Mar. 31, 2018
Rental Income Operating Leases [Member] | Lessee #1 [Member]
Concentration risk percentage100.00%100.00%
Income from Finance Leases [Member] | Lessee #1 [Member]
Concentration risk percentage85.00%49.00%
Income from Finance Leases [Member] | Lessee #2 [Member]
Concentration risk percentage15.00%19.00%
Income from Finance Leases [Member] | Lessee #3 [Member]
Concentration risk percentage19.00%
Interest Income [Member] | Loan One [Member]
Concentration risk percentage21.00%22.00%
Interest Income [Member] | Loan Two [Member]
Concentration risk percentage18.00%20.00%
Interest Income [Member] | Loan Three [Member]
Concentration risk percentage12.00%12.00%
Investment in Finance Leases [Member] | Lessee #1 [Member]
Concentration risk percentage70.00%29.00%
Investment in Finance Leases [Member] | Lessee #2 [Member]
Concentration risk percentage13.00%26.00%
Investment in Finance Leases [Member] | Lessee #3 [Member]
Concentration risk percentage11.00%18.00%
Investment in Finance Leases [Member] | Lessee #4 [Member]
Concentration risk percentage13.00%
Investment in operating Leases [Member] | Lessee #1 [Member]
Concentration risk percentage100.00%100.00%
Investment in Equipment Notes Receivable [Member] | Note One [Member]
Concentration risk percentage43.00%35.00%
Investment in Equipment Notes Receivable [Member] | Note Two [Member]
Concentration risk percentage23.00%31.00%
Investment in Equipment Notes Receivable [Member] | Note Three [Member]
Concentration risk percentage20.00%14.00%
Investment in Equipment Notes Receivable [Member] | Note Four [Member]
Concentration risk percentage12.00%
Investment In Collateralized Loans Receivable [Member] | Loan One [Member]
Concentration risk percentage28.00%31.00%
Investment In Collateralized Loans Receivable [Member] | Loan Two [Member]
Concentration risk percentage14.00%16.00%
Investment In Collateralized Loans Receivable [Member] | Loan Three [Member]
Concentration risk percentage13.00%16.00%
Investment In Collateralized Loans Receivable [Member] | Loan Four [Member]
Concentration risk percentage13.00%10.00%
Investment in Residual Value Leases [Member] | Lessee #1 [Member]
Concentration risk percentage100.00%100.00%

Geographic Information - Schedu

Geographic Information - Schedule of Geographic Information for Revenue (Details) - USD ($)3 Months Ended
Mar. 31, 2019Mar. 31, 2018
Rental income $ 252,000 $ 252,000
Finance income6,103 376,929
Interest income1,434,317 1,441,818
Income from equipment investment SPV3,781,809 4,131,578
United States [Member]
Rental income252,000 252,000
Finance income891 350,782
Interest income437,269 392,303
Income from equipment investment SPV
Europe [Member]
Rental income
Finance income5,212 26,147
Interest income861,711 735,953
Income from equipment investment SPV3,781,809 4,131,578
Mexico [Member]
Rental income
Finance income
Interest income135,337 313,562
Income from equipment investment SPV

Geographic Information - Sche_2

Geographic Information - Schedule of Geographic Information for Long-lived Assets (Details) - USD ($)Mar. 31, 2019Dec. 31, 2018
Investment in finance leases, net $ 2,413,966 $ 3,424,703
Investments in equipment subject to operating leases, net3,593,736 3,758,982
Equipment notes receivable, including accrued interest12,017,691 12,010,957
Equipment investment through SPV30,694,362 31,413,881
Collateralized loan receivable, including accrued interest49,015,486 47,487,862
United States [Member]
Investment in finance leases, net1,935,657 2,942,547
Investments in equipment subject to operating leases, net3,593,736 3,758,982
Equipment notes receivable, including accrued interest8,658,817 8,751,882
Equipment investment through SPV
Collateralized loan receivable, including accrued interest10,319,805 10,512,351
Europe [Member]
Investment in finance leases, net478,309 482,156
Investments in equipment subject to operating leases, net
Equipment notes receivable, including accrued interest2,358,874 2,259,075
Equipment investment through SPV30,694,362 31,413,881
Collateralized loan receivable, including accrued interest24,879,522 24,286,705
Mexico [Member]
Investment in finance leases, net
Investments in equipment subject to operating leases, net
Equipment notes receivable, including accrued interest1,000,000 1,000,000
Equipment investment through SPV
Collateralized loan receivable, including accrued interest $ 13,816,159 $ 12,688,806

Subsequent Events (Details Narr

Subsequent Events (Details Narrative) - Subsequent Event [Member]Apr. 17, 2019USD ($)
Payment to paydown the loan payable balance $ 2,000,000
Interest payment for interest payable balance $ 489,942