EXHIBIT 23.1
 
                        CONSENT OF INDEPENDENT AUDITORS
 
The Managers
Franchise Mortgage Acceptance Company LLC:
 
  We consent to the use of our report included herein and to the reference to
our Firm under the heading "Selected Financial Data" and "Experts" in the
Prospectus.
 
                                          KMPG Peat Marwick LLP
 
Los Angeles, California
August 26, 1997