<ARTICLE> 5 <PERIOD-TYPE> 6-MOS <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-START> JAN-01-1996 <PERIOD-END> JUN-30-1996 <CASH> 2,540,468 <SECURITIES> 0 <RECEIVABLES> 10,380,028 <ALLOWANCES> 9,274,836 <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 0 <DEPRECIATION> 0 <TOTAL-ASSETS> 3,646,410 <CURRENT-LIABILITIES> 1,503 <BONDS> 0 <COMMON> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <OTHER-SE> 3,644,907 <TOTAL-LIABILITY-AND-EQUITY> 3,646,410 <SALES> 0 <TOTAL-REVENUES> 98,984 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 50,294 <LOSS-PROVISION> 470,000 <INTEREST-EXPENSE> 0 <INCOME-PRETAX> (421,310) <INCOME-TAX> 0 <INCOME-CONTINUING> (421,310) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (421,310) <EPS-PRIMARY> 0 <EPS-DILUTED> 0