<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-END> MAR-31-1997 <CASH> 10,275 <SECURITIES> 0 <RECEIVABLES> 185,253 <ALLOWANCES> 4,047 <INVENTORY> 0 <CURRENT-ASSETS> 164,361 <PP&E> 1,840 <DEPRECIATION> 612 <TOTAL-ASSETS> 169,730 <CURRENT-LIABILITIES> 29,215 <BONDS> 79,184 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 48 <OTHER-SE> 34,556 <TOTAL-LIABILITY-AND-EQUITY> 169,730 <SALES> 0 <TOTAL-REVENUES> 5,747 <CGS> 0 <TOTAL-COSTS> 2,807 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 187 <INTEREST-EXPENSE> 2,437 <INCOME-PRETAX> 408 <INCOME-TAX> 197 <INCOME-CONTINUING> 211 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 211 <EPS-PRIMARY> .05 <EPS-DILUTED> .05