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<FISCAL-YEAR-END>      DEC-31-1994
<PERIOD-END>           DEC-31-1994

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<SECURITIES>                                         0               
<RECEIVABLES>                              109,319,000             
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<INVENTORY>                                          0             
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<PP&E>                                       2,756,000             
<DEPRECIATION>                                 602,000             
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<BONDS>                                    113,100,000             
<COMMON>                                     1,241,000             
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<OTHER-SE>                                 (8,468,000)
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