<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from the
unaudited financial statements of Berthel Fisher & Company Leasing, Inc. as of
June 30, 1999, and the six months ended June 30, 1999, and is qualified in its
entirety by reference to such financial statements.
</LEGEND>

                             
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1999
<PERIOD-START>                             JAN-01-1999
<PERIOD-END>                               JUN-30-1999
<CASH>                                         368,049
<SECURITIES>                                 1,641,795
<RECEIVABLES>                                5,550,837
<ALLOWANCES>                                 (282,518)
<INVENTORY>                                          0
<CURRENT-ASSETS>                                     0
<PP&E>                                       1,458,290
<DEPRECIATION>                               (850,417)
<TOTAL-ASSETS>                               7,886,036
<CURRENT-LIABILITIES>                          561,950
<BONDS>                                      6,308,088
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                  1,621,422
<COMMON>                                       884,705
<OTHER-SE>                                 (1,490,129)
<TOTAL-LIABILITY-AND-EQUITY>                 7,886,036
<SALES>                                        788,503
<TOTAL-REVENUES>                               788,503
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                               670,294
<LOSS-PROVISION>                               109,730
<INTEREST-EXPENSE>                             290,320
<INCOME-PRETAX>                              (281,841)
<INCOME-TAX>                                 (106,270)
<INCOME-CONTINUING>                          (175,571)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                 (175,571)
<EPS-BASIC>                                      (.54)
<EPS-DILUTED>                                    (.54)