<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
UNAUDITED BALANCE SHEET OF BERTHEL FISHER & COMPANY LEASING, INC. AND STATEMENTS
OF INCOME FOR THE NINE MONTHS ENDED SEPTEMBER 30, 1997, AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
       
                             
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-01-1997
<PERIOD-END>                               SEP-30-1997
<CASH>                                           2,871
<SECURITIES>                                   975,482
<RECEIVABLES>                               13,226,473
<ALLOWANCES>                                 (380,087)
<INVENTORY>                                          0
<CURRENT-ASSETS>                            13,824,739
<PP&E>                                       1,093,853
<DEPRECIATION>                               (176,514)
<TOTAL-ASSETS>                              16,470,405
<CURRENT-LIABILITIES>                        6,942,011
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                  1,603,080
<COMMON>                                        63,400
<OTHER-SE>                                   (645,558)
<TOTAL-LIABILITY-AND-EQUITY>                16,470,405
<SALES>                                              0
<TOTAL-REVENUES>                             2,127,007
<CGS>                                                0
<TOTAL-COSTS>                                  289,483
<OTHER-EXPENSES>                               873,104
<LOSS-PROVISION>                                41,002
<INTEREST-EXPENSE>                           1,190,827
<INCOME-PRETAX>                              (267,409)
<INCOME-TAX>                                  (85,287)
<INCOME-CONTINUING>                          (182,122)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                 (240,925)
<EPS-PRIMARY>                                    (.60)
<EPS-DILUTED>                                    (.60)