<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM ALLIED
CAPITAL CORPORATION AND SUBSIDIARIES' CONSOLIDATED BALANCE SHEET AND
CONSOLIDATED STATEMENTS OF OPERATIONS, CHANGES IN NET ASSETS AND CASH FLOWS AND
IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS
INCORPORATED BY REFERENCE IN FORM 10K.
</LEGEND>
<MULTIPLIER> 1,000

                             
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          DEC-31-1999
<PERIOD-START>                             JAN-01-1999
<PERIOD-END>                               DEC-31-1999
<INVESTMENTS-AT-COST>                        1,222,901
<INVESTMENTS-AT-VALUE>                       1,228,497
<RECEIVABLES>                                        0
<ASSETS-OTHER>                                  43,386
<OTHER-ITEMS-ASSETS>                            18,155
<TOTAL-ASSETS>                               1,290,038
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                        487,350
<OTHER-ITEMS-LIABILITIES>                      128,175
<TOTAL-LIABILITIES>                            615,525
<SENIOR-EQUITY>                                      6
<PAID-IN-CAPITAL-COMMON>                       699,149
<SHARES-COMMON-STOCK>                           65,414
<SHARES-COMMON-PRIOR>                           55,919
<ACCUMULATED-NII-CURRENT>                        (480)
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                         4,517
<NET-ASSETS>                                   667,513
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                              119,772
<OTHER-INCOME>                                  21,368
<EXPENSES-NET>                                  70,099
<NET-INVESTMENT-INCOME>                         71,041
<REALIZED-GAINS-CURRENT>                        25,391
<APPREC-INCREASE-CURRENT>                        2,138
<NET-CHANGE-FROM-OPS>                           98,570
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                       76,948
<DISTRIBUTIONS-OF-GAINS>                        20,993
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                          8,659
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                233
<NET-CHANGE-IN-ASSETS>                         176,155
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                            927
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                                0
<INTEREST-EXPENSE>                              34,860
<GROSS-EXPENSE>                                 70,099
<AVERAGE-NET-ASSETS>                           579,436
<PER-SHARE-NAV-BEGIN>                             8.79
<PER-SHARE-NII>                                   1.18
<PER-SHARE-GAIN-APPREC>                           0.46
<PER-SHARE-DIVIDEND>                              1.60
<PER-SHARE-DISTRIBUTIONS>                         0.00
<RETURNS-OF-CAPITAL>                              0.00
<PER-SHARE-NAV-END>                              10.20
<EXPENSE-RATIO>                                   0.12