<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1999 <PERIOD-START> JAN-01-2000 <PERIOD-END> MAR-31-2000 <CASH> 11,106 <SECURITIES> 0 <RECEIVABLES> 3,446,552 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 0 <DEPRECIATION> 0 <TOTAL-ASSETS> 58,970,638 <CURRENT-LIABILITIES> 0 <BONDS> 5,596,234 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 105,710 <OTHER-SE> 37,573,763 <TOTAL-LIABILITY-AND-EQUITY> 37,679,473 <SALES> 0 <TOTAL-REVENUES> 71,472 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 11,316 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 52,839 <INCOME-PRETAX> 7,317 <INCOME-TAX> 0 <INCOME-CONTINUING> 7,317 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 7,317 <EPS-BASIC> 0 <EPS-DILUTED> 0