<TABLE> <S> <C>

<PAGE>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from Allied
Capital Corporation II and Subsidiaries' Consolidated Statement of Financial
Position, Consolidated Statement of Operations, Consolidated Statement of
Changes in Net Assets and Consolidated Statement of Cash Flows and is qualified
in its entirety by reference to such Financial Statements.
</LEGEND>
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1995
<PERIOD-START>                             JAN-01-1995
<PERIOD-END>                               SEP-30-1995
<INVESTMENTS-AT-COST>                           81,777
<INVESTMENTS-AT-VALUE>                          89,812
<RECEIVABLES>                                        0
<ASSETS-OTHER>                                   1,106
<OTHER-ITEMS-ASSETS>                            17,766
<TOTAL-ASSETS>                                 108,684
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        1,677
<TOTAL-LIABILITIES>                              1,677
<SENIOR-EQUITY>                                  6,945
<PAID-IN-CAPITAL-COMMON>                        89,953
<SHARES-COMMON-STOCK>                            6,945
<SHARES-COMMON-PRIOR>                            6,938
<ACCUMULATED-NII-CURRENT>                        6,493
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                          3,193
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                         8,035
<NET-ASSETS>                                   107,007
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                8,390
<OTHER-INCOME>                                     508
<EXPENSES-NET>                                   2,405
<NET-INVESTMENT-INCOME>                          6,493
<REALIZED-GAINS-CURRENT>                         3,193
<APPREC-INCREASE-CURRENT>                        5,116
<NET-CHANGE-FROM-OPS>                           14,802
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                        5,621
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                              0
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                           9,532
<ACCUMULATED-NII-PRIOR>                          4,612
<ACCUMULATED-GAINS-PRIOR>                        1,148
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                            1,805
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                  2,405
<AVERAGE-NET-ASSETS>                           102,200
<PER-SHARE-NAV-BEGIN>                            14.05
<PER-SHARE-NII>                                    .93
<PER-SHARE-GAIN-APPREC>                           1.20
<PER-SHARE-DIVIDEND>                               .81
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              15.41
<EXPENSE-RATIO>                                    .02
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>