<ARTICLE> 5 <MULTIPLIER> 1 <PERIOD-TYPE> 9-MOS <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-START> JAN-01-1996 <PERIOD-END> SEP-30-1996 <CASH> 89,513 <SECURITIES> 7,890,053 <RECEIVABLES> 51,524,531 <ALLOWANCES> (7,650,000) <INVENTORY> 0 <CURRENT-ASSETS> 54,272,884 <PP&E> 1,856,365 <DEPRECIATION> (257,072) <TOTAL-ASSETS> 75,251,587 <CURRENT-LIABILITIES> 1,716,090 <BONDS> 41,022,138 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 79,548 <OTHER-SE> 32,433,811 <TOTAL-LIABILITY-AND-EQUITY> 75,251,587 <SALES> 9,576,042 <TOTAL-REVENUES> 9,576,042 <CGS> 0 <TOTAL-COSTS> 8,173,504 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 2,678,941 <INCOME-PRETAX> 1,402,538 <INCOME-TAX> (311,528) <INCOME-CONTINUING> 1,091,010 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 1,091,010 <EPS-PRIMARY> 0.140 <EPS-DILUTED> 0.140