
<TABLE> <S> <C>


<ARTICLE>                     5
       
<S>                             <C>
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>               DEC-31-1997
<PERIOD-START>                  JAN-01-1997
<PERIOD-END>                    MAR-31-1997
<CASH>                            8,461,380
<SECURITIES>                      6,443,202
<RECEIVABLES>                    74,315,915
<ALLOWANCES>                    (13,917,442)
<INVENTORY>                               0
<CURRENT-ASSETS>                 82,097,889
<PP&E>                            2,369,753
<DEPRECIATION>                     (453,024)
<TOTAL-ASSETS>                   86,873,336
<CURRENT-LIABILITIES>             1,920,917
<BONDS>                          48,830,170
<PREFERRED-MANDATORY>                80,188
<PREFERRED>                               0
<COMMON>                                  0
<OTHER-SE>                       12,589,924
<TOTAL-LIABILITY-AND-EQUITY>     83,873,336
<SALES>                           4,404,905
<TOTAL-REVENUES>                  4,404,905
<CGS>                                     0
<TOTAL-COSTS>                             0
<OTHER-EXPENSES>                  2,475,888
<LOSS-PROVISION>                          0
<INTEREST-EXPENSE>                1,569,398
<INCOME-PRETAX>                     359,622
<INCOME-TAX>                        111,438
<INCOME-CONTINUING>                 248,184
<DISCONTINUED>                            0
<EXTRAORDINARY>                           0
<CHANGES>                                 0
<NET-INCOME>                        248,184
<EPS-PRIMARY>                         0.030
<EPS-DILUTED>                         0.030
                             


</TABLE>
