<ARTICLE>   5
<LEGEND>
ART. 5 FDS FOR 1ST QUARTER 10-Q
</LEGEND>
<MULTIPLIER>   1,000
       
                                               
<PERIOD-TYPE>                                           3-MOS
<FISCAL-YEAR-END>                                 APR-30-1997
<PERIOD-END>                                      JUL-31-1996
<CASH>                                                  8,566
<SECURITIES>                                                0
<RECEIVABLES>                                          16,918
<ALLOWANCES>                                            1,746
<INVENTORY>                                                 0
<CURRENT-ASSETS>                                            0
<PP&E>                                                      0
<DEPRECIATION>                                              0
<TOTAL-ASSETS>                                         22,200
<CURRENT-LIABILITIES>                                       0
<BONDS>                                                26,560
<COMMON>                                                1,000
<PREFERRED-MANDATORY>                                       0
<PREFERRED>                                                 0
<OTHER-SE>                                             (8,349)
<TOTAL-LIABILITY-AND-EQUITY>                           22,200
<SALES>                                                   613
<TOTAL-REVENUES>                                          613
<CGS>                                                       0
<TOTAL-COSTS>                                               0
<OTHER-EXPENSES>                                          227
<LOSS-PROVISION>                                          284
<INTEREST-EXPENSE>                                        521
<INCOME-PRETAX>                                          (420)
<INCOME-TAX>                                                0
<INCOME-CONTINUING>                                      (420)
<DISCONTINUED>                                              0
<EXTRAORDINARY>                                             0
<CHANGES>                                                   0
<NET-INCOME>                                             (420)
<EPS-PRIMARY>                                               0
<EPS-DILUTED>                                               0