<ARTICLE> 5 <PERIOD-TYPE> 9-MOS <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-START> JAN-01-1997 <PERIOD-END> SEP-30-1997 <CASH> 6,070,807 <SECURITIES> 3,190,479 <RECEIVABLES> 104,561,616 <ALLOWANCES> (17,443,401) <INVENTORY> 0 <CURRENT-ASSETS> 107,290,827 <PP&E> 2,912,156 <DEPRECIATION> (675,817) <TOTAL-ASSETS> 109,527,166 <CURRENT-LIABILITIES> 2,378,203 <BONDS> 95,544,281 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 80,188 <OTHER-SE> 11,524,494 <TOTAL-LIABILITY-AND-EQUITY> 109,527,166 <SALES> 15,129,443 <TOTAL-REVENUES> 15,129,443 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 8,779,022 <LOSS-PROVISION> 5,317,000 <INTEREST-EXPENSE> 5,845,726 <INCOME-PRETAX> (4,812,305) <INCOME-TAX> (3,985,977) <INCOME-CONTINUING> (826,328) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (826,328) <EPS-PRIMARY> (0.100) <EPS-DILUTED> (0.100)