<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from SEC
Form 10-QSB and is qualified in its entirety by reference to such
financial statements.  Individual data items on this schedule may not
add up due to rounding.
</LEGEND>
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-END>                               MAR-31-1997
<CASH>                                       7,490,316
<SECURITIES>                                         0
<RECEIVABLES>                               11,678,917
<ALLOWANCES>                               (4,280,731)
<INVENTORY>                                          0
<CURRENT-ASSETS>                            31,765,723
<PP&E>                                       1,707,215
<DEPRECIATION>                             (1,189,709)
<TOTAL-ASSETS>                              42,981,848
<CURRENT-LIABILITIES>                       25,797,804
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                  2,500,000
<COMMON>                                       219,318
<OTHER-SE>                                   9,464,726
<TOTAL-LIABILITY-AND-EQUITY>                42,981,848
<SALES>                                     33,653,878<F1>
<TOTAL-REVENUES>                             8,712,476
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                             1,852,627
<LOSS-PROVISION>                             2,500,000
<INTEREST-EXPENSE>                           1,177,283
<INCOME-PRETAX>                              3,182,566
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                          3,182,566
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                 3,182,566
<EPS-PRIMARY>                                      .65
<EPS-DILUTED>                                      .65
<FN>
<F1>First Quarter Financial Contract Activations
</FN>