FORM 10-QSB
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20548

(X) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15D OF THE SECURITIES
EXCHANGE ACT OF 1934

For The Quarterly Period Ended September 30, 1997

( ) TRANSITION REPORT PURSUANT TO SECTION 13 OR 15D OF THE SECURITIES
EXCHANGE ACT OF 1934
For the transition period from ___________to___________

Commission File Number -- 0-10926
TECFIN CORPORATION
Exact name of registrant as specified in its charter)

        Delaware                        11-2552239
(State or other Jurisdiction          (IRS Employer Identification Number)
of Incorporation or Organization

107 Northern Boulevard, Great Neck, New York          11021
(Address of principal offices)                          (Zip Code)

(516) 829-3774
(Registrant's Telephone Number including area code)

Indicate by checkmark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15 (d) of the Securities Exchange
Act of 1934 during the preceding 12 months (or for such shorter period
that the registrant was required to file such reports), and (2) has been
subject to such filing requirements for the past 90 days.

Yes __X____  No _______

The number of shares outstanding of each of the issuer's classes of 
common shares, as of November 15, 1997 was 64,205,771 shares of Common stock
$.0001 par value per share,excluding 285,000 shares held in treasury.













Part I - FINANCIAL INFORMATION
Item l Financial Statements
<TABLE>
<CAPTION>
                         TECFIN CORPORATION AND SUBSIDIARIES
              CONDENSED CONSOLIDATED STATEMENT OF NET ASSETS-
                             LIQUIDATION BASIS

                             ASSETS

                                            SEPTEMBER 30,        DECEMBER 31,
                                                 1997              1996
                                              (Unaudited)       (Audited)
<S>                                          <C>               <C>

Cash and cash equivalent                     $ 17,914          $ 19,281

Demand note receivable-related party          147,577           141,501
                                             ---------        ---------
        Total assets                         $165,491          $160,782
                                             ========         =========

                LIABILITIES

Liabilities:
   Income taxes payable                           145               505
   Accrued expenses and other current
     liabilities                               20,962            20,962
                                             --------          --------
     Total liabilities                         21,107            21,467
                                             --------          --------

     Net assets                              $144,384          $139,315                           
                                             ========          ========
     </TABLE>

     See Notes to Consolidated Financial Statements

                                     
                                   2


<TABLE>
<CAPTION>

                TECFIN CORPORATION AND SUBSIDIARIES
         CONSOLIDATED STATEMENT OF CHANGES IN NET ASSETS
                         LIQUIDATION BASIS

                              For the Nine Months           For the Three Months
                              Ended September 30,           Ended September 30,
                           ----------------------------   -----------------------
                               1997            1996          1997           1996
                           ------------    ------------  -----------     ---------
<S>                        <C>             <C>           <C>             <C>
Net assets as of Jan l,    $139,315        $135,104      $ 144,303       $ 136,893
                           --------        --------      ----------      ---------
Sales and operating 
   revenues                   9,114           9,114          3,038           3,308
                           --------        --------      ----------      ----------

Cost and expenses:
   Selling, general and 
     administrative           4,045           5,837          2,957           1,550 
                           --------        --------      ----------      ---------
                              4,045           5,837          2,957           1,550
                           --------        --------      ----------      ---------
                           
Income before 
   provision for
   income taxes               5,069           3,277             81            1,488
Provision for taxes                            -
                           --------        --------      ---------       ---------
Net income                    5,069           3,277             81            1,488        
                           --------        --------      ---------       ---------
Net assets as of June 30   $144,384        $138,381      $ 144,384       $ 138,381
                           ========        ========      =========       =========
                         
Weighed average number of
   shares outstanding         (A)            (A)            (A)            (A)
                           ========        ========      =========       =========
Earnings per share (note2)

Income per common share    $   -           $   -         $    -          $    -
                           ========        ========      =========       =========
</TABLE>
(A) - 64,205,771 shares outstanding in all periods

        See Notes To Consolidated Financial Statements

                              3




<TABLE>
<CAPTION>
                TECFIN CORPORATION AND SUBSIDIARIES
        CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY
                          LIQUIDATION BASIS

For Nine  
Months Ended
Sept 30,,
1997
-------------
<S>             <C>      <C>          <C>             <C>        <C>    
Balance at
Jan l, 1997     $6,449  $1,079,170    ($943,529)      ($2,775)   $139,315

Net income                                5,069                     5,069
                ------  ----------    ----------      --------   ---------
Balance
9/30/97         $6,449  $1,079,170    ($938,460)      ($2,775)   $l44,384
</TABLE>

<TABLE>
<CAPTION>
For Nine                                                               Total
Months Ended              Additional                                 Share-              
Sept 30,        Common    Paid in        Accumulated     Treasury    holder
1996             Stock     Capital         Deficit        Stock       Equity
------------    -------  -----------     -----------     --------   ----------
<S>             <C>      <C>             <C>             <C>        <C>
Jan 1, 1996     $6,449   $1,079,170      ($947,740)      ($2,775)   $135,104

Net income                                   3,277                     3,277
                ------- -----------      ---------       --------   --------

Balance
9/30/96         $6,449   $1,079,170     ($944,463)      ($2,775)    $138,381
                ======   ==========     ==========      ========    ========
</TABLE>

              See Notes To Consolidated Financial Statements

                                  4






NOTE TO CONSOLIDATED FINANCIAL STATEMENTS

        Note 1 - Basis of Condensed Information

        In the opinion of the Company, the accompanying unaudited 
condensed financial statements contain all adjustments, consisting 
only of normal recurring accruals, necessary to present fairly the 
consolidated statement of net assets of the Company and its subsidiaries
as of September 30, 1997, the consolidatd statements of changes in net 
assets and changes in stockholders' equity for each of the nine months
ended September 30, 1997 and 1996.  The financial statements have been 
prepared on the assumption of the liquidation basis of accounting.
        The results of operations for the nine months ended September 30, 
1997 are not necessarily indicative of the results to be expected for the
full year.
        Certain information and note disclosures normally included in 
financial statements prepared in accordance with generally accepted
accounting principles have been condensed or omitted.  The condensed
financial statements should be read in conjunction with the financial
statements and notes thereto included in the Company's Form 10-KSB
Annual Report for its fiscal year ended December 31, 1996.
Balance sheet at December 31, 1996 contained in this report has been 
derived from the Company's auditd consolidated balance sheet included in 
such Form 10-KSB.

        Note 2 - Earnings per share

        Primary income per share is based on the weighted average number
of shares outstanding during each period.

        Note 3 - Related parties transactions

        In November 1991, the Company loaned $200,000 to an affiliated
Company which are demand notes bearing interest at 10%.  An additional
$100,000 was loaned in June 1994 with interest at 8%.  Through 
March 31, 1997, $158,499 had been repaid. At March 31, 1997, the notes
were sold, assigned,and transferred to Apple Chevrolet, a corporation
owned by Messrs. S H and J Wallick. In consideration Apple Chevrolet
issued a demand promissory note in the principle sum of $141,501 bearing   
interest at 8.75%.      


Note 4- Contingency
     In May 1992, the Company received a non-interest bearing demand
promissory note from a sublessee of commercial space from the Company.
An officer of the Company and the sublessee were partners in an unrelated
joint venture.  The face value of the non-interest bearing demand note is
$261,250, which was present valued to $171,250 using an imputed interest
of 11.42%.  Payments of $124,767 have been received to September 30, 1997. 


                                  5


Item 2          MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN
                               OF OPERATION

RESULTS OF OPERATIONS
        The Company had no significant operations for the nine months ended 
September 30, 1997.
        Analysis of Revenue and Expenses is as follows:
        <TABLE>
        <CAPTION>                   Nine Months Ended Sept 30, 
                                    1997       1996       
        <S>                         <C>        <C>       
        Interest and other income   $9,114     $ 9,114 
                                    =====      =======  
        Expenses:
          Other                      4,045       5,837  
                                    -----      -------   
        Total expenses               4,045       5,837   
                                    ======      =======   
</TABLE>

LIQUIDITY AND CAPITAL RESOURCES
        The Company is in a limited liquidity and capital resources
position.  Such position is principally due to the defaults appertaining to
(i) two substantial equipment leases which defaults took place in 1990
and 1991; and (ii) the default in the sub-lease of the premises 275
Northern Boulevard, Great Neck, N.Y.
        The lack of new business in fiscal 1994 and 1995 and nine months
ended September 30, 1997 and cash flows results in such periods were additional
adverse factors that contributed to the Company's present liquidity and
capital resources position; the substantial improvement of whcih positions 
are presently substantially dependent upon the realization by the Company
of monies owing to it from the defaulting parties concerned as well as
upon the ability of the Company to generate new and profitable business.

        The Company presently does not have any specific plans in mind which 
would materailly change favorably either(i) its short term or long term 
liquidity (i.e., ability to generate adequate amounts of cash to meet
its needs for cash) or (ii) its capital resources position (i.e., source of 
funds).  Furthermore, there are no trends or events known to Management
that will result in, or that are reasonably likely to result in, the 
Company's liquidity increasing in any material way in the foreseeable future.  
The present limited liquidity and capital resources position of the Company 
will necessarily adversely affect:  the financial condition of the Company; 
its ability to enter into new lease financing and brokerage arrangements, 
which line of business has been the Company's principal source of revenues 
since 1986; its prospects for the future; and its ability to continue
in existence.

         While Management believes that the Company will be able to continue 
in existence during the twelve month period ending December 31, 1997, there 
can be no assurance that the Company will be able to generate sufficient
cash to remain in existence thereafter.

                                        6


PART II - OTHER INFORMATION

Item 6 - EXHIBITS AND REPORTS ON FORM 8K

        (b) No reports on Form 8K were filed during the quarter for 
            which this report is filed.



                        SIGNATURES

        Pursuant to the requirements of the Exchange Act, the Registrant
has duly caused this report to be signed on its behalf by the undersigned
thereunto duly authorized.

                                TECFIN CORPORATION

                                SANDERS H. WALLICK

                                by:
                                Sanders H. Wallick
                                Sanders H. Wallick
                                Chairman and Chief Executive Officer

                                SANDERS H. WALLICK

                                Sanders H. Wallick
                                Sanders H. Wallick
                                Acting Treasurer and Chief Financial
                                and Accounting Officer



DATED:  November 15, 1997


                                   


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