<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY OF FINANCIAL INFORMATION EXTRACTED FROM THE
UNAUDITED STATEMENTS OF ASSETS AND LIABILITIES OF BERTHEL FISHER & CO. LEASING,
INC. AS OF SEPTEMBER 30, 1996, AND THE UNAUDITED STATEMENT OF OPERATIONS OF
BERTHEL FISHER & CO. LEASING, INC. FOR THE NINE MONTHS ENDED SEPTEMBER 30, 1996,
AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
       
                             
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               SEP-30-1996
<CASH>                                               0
<SECURITIES>                                         0
<RECEIVABLES>                               19,203,415
<ALLOWANCES>                                 (560,211)
<INVENTORY>                                          0
<CURRENT-ASSETS>                            18,643,204
<PP&E>                                       2,413,558
<DEPRECIATION>                               (137,749)
<TOTAL-ASSETS>                              20,919,013
<CURRENT-LIABILITIES>                       11,965,214
<BONDS>                                      8,451,167
<COMMON>                                         1,000
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                    720,899
<OTHER-SE>                                   (219,267)
<TOTAL-LIABILITY-AND-EQUITY>                20,919,013
<SALES>                                              0
<TOTAL-REVENUES>                            20,616,686
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                             1,671,543
<LOSS-PROVISION>                               324,363
<INTEREST-EXPENSE>                           1,247,151
<INCOME-PRETAX>                              (626,371)
<INCOME-TAX>                                 (217,240)
<INCOME-CONTINUING>                          (409,131)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                 (409,131)
<EPS-PRIMARY>                                   (1.02)
<EPS-DILUTED>                                   (1.02)