<PERIOD>     09/30/04
              U.S. SECURITIES AND EXCHANGE COMMISSION
                     Washington, D.C. 20549

                           FORM 10-QSB
(Mark One)

[ x ]	QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
        SECURITIES EXCHANGE ACT OF 1934

        For the quarterly period ended September 30, 2004

[   ]	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
        SECURITIES EXCHANGE ACT OF 1934

	For the transition period from __________ to __________

                      Commission file number: 0-2664

                       INVESTORS FINANCE, INC.
   (Exact name of small business issuer as specified in its charter)
                        ___________________

		Hawaii				   99-0112763
	(State or other jurisdiction of		(I.R.S. Employer
	incorporation or organization)		Identification No.)

	820 Mililani, 3rd floor, Honolulu, Hawaii	96813
	(Address of principal executive offices)	(Zip Code)

                 Issuer's telephone number: (808)533-7437


Check whether the issuer (1) filed all reports required to be filed by
Section 13 or 15(d) of the Exchange Act during the past 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 [   ] No[ x  ]

Number of shares outstanding of the issuer's common stock as of March
31, 2004: 5,000,000.  However, the number of authorized shares of
common stock was increased during September, 2003 to 9,000,000,
although these additional shares were not issued at the close of the
period ending.

Transitional Small Business Disclosure Format (check one): Yes [  ]  No [ x ]

Part 1 - Financial Information



Item 1. Financial Statements







                        (UNAUDITED)
<TABLE>
<S>                                              <C>
<PERIOD-TYPE>                                  3-MOS
<FISCAL-YEAR-END>                          DEC-31-2004
<PERIOD-END>                               SEPT-30-2004
<CASH>                                       1,728,340
<SECURITIES>                                         0
<RECEIVABLES>                                   48,090
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                             1,776,430
<PP&E>                                       1,385,823
<DEPRECIATION>                               (109,369)
<TOTAL-ASSETS>                               3,052,884
<CURRENT-LIABILITIES>                        1,996,840
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                     2,822,303
<OTHER-SE>                                           0
<RETAINED EARNINGS>                        (1,460,001)
<TOTAL-LIABILITY-AND-EQUITY>                 3,359,142
<SALES>                                      2,605,113
<TOTAL-REVENUES>                             2,605,113
<CGS>                                                0
<TOTAL-COSTS>                                2,911,371
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                   0
<INCOME-PRETAX>                              (306,258)
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                                  0
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                 (306,258)
<EPS-PRIMARY>                                  (0.061)
<EPS-DILUTED>                                  (0.061)
</TABLE>


Item 2. Plan of Operations

The Company Investors Finance, Inc., (IFI) is headquartered in the state
of Hawaii with its corporate office located at 820 Mililani Street, 3rd
floor, Honolulu, Hawaii. During the time period of this report, the Company
continued to deliver its principal services of the lending, loan originating,
brokering and servicing of nonprime residential mortgages from its office in
Hawaii at 820 Mililani St., Ste. 300, Honolulu, HI. 96813. The company formed
a wholly owned subsidiary San Diego Home Loans, Inc., a California corporation
at 10080 Carroll Canyon Road, San Diego, California.  The new subsidiary San
Diego Home Loans took over control of the California operations of Investors
Finance, Inc. doing business as Ohana Finance. The Company in July 2004 caused
to be filed the Articles of organization for IFI Capital Mortgage Fund, a
Hawaii Limited Liability Company as a co-managing member. The Companies CEO
Michael Monaco will also act as a co-managing member of the formed IFI Capital
Mortgage Fund, LLC. The Company on August 30th 2004 acquired all the
shareholders interest of an independent mortgage company based on the
island of Maui in the state of Hawaii with operated under a similar name Ohana
Mortgage, Inc. The acquisition of Ohana Mortgage solidifies the name OHANA
(the word Ohana means Family in Hawaiian) for IFI as a trade name. Management
believes that these opportunities will enhance the company's position as an
acting parent corporation.


Item 3. Controls and Procedures

The financial statements and other financial information included in
this quarterly report, are believed to fairly present in all material
respects the financial condition, results of operations and cash flows
of the registrant as of, and for, the period presented in this
quarterly report. Management has retained the services of a certified
public accountant to prepare a compilation of its books and records
and to the best of our knowledge and belief, this report correctly
reflects the financial condition of the Company as of September 30,
2004. While the financial statements have not been audited, the
Company anticipates having audited financial statements prepared
when it is financially able to do so.

PART II

Item 1. Legal Proceedings

The Company engaged in no litigation during the time period of this report.
Additionally, from time to time, the Company is involved in litigation in the
ordinary course of its business. As a result of legal defenses and insurance
arrangements, the Company does not believe that any such litigation, if decided
unfavorably to the Company, would have a material adverse effect on its
business or assets.

Further, to the knowledge of management, no director, officer, affiliate or
holder of record or beneficial owner of more than 5% of the common voting stock
of the Company is a party adverse to the Company.

Item 2. Changes In Securities.  (NONE)

Item 3. Defaults Upon Senior Securities (NONE)

Item 4. Submission of Matters to a Vote of Security Holders.  During the time
period of this report, no matters were submitted to a vote of security holders.

Item 5. Other Information (None)

Item 6. Exhibits and Reports on Form 8-K (NONE)


SIGNATURES

         Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned thereunto duly authorized.


SIGNATURES

         Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned thereunto duly authorized.

                                        (Registrant)
                                        Investors Finance, Inc.

                                        By:   /s/ Michael S. Monaco
                                              ------------------------
                                              Michael S. Monaco,
    Chief Executive Officer
                                              Chief Financial Officer



         CERTIFICATION

         I, Michael S. Monaco, the Chief Executive Officer, Chief Financial
Officer, and Chairman of Board of Investors Finance, Inc. certify as follows:

         1.	I have reviewed this quarterly report on Form 10-QSB of
Investors Finance, Inc.;

2. Based on my knowledge, this quarterly report does
not contain any untrue statement of a material fact or omit to state a material
fact necessary to make the statements made not misleading with respect to the
period covered by this quarterly report;

         3. Based on my knowledge, the financial statements, and other
financial information included in this quarterly report, fairly present in all
material respects the financial condition, results of operations and cash flows
of the registrant as of, and for, the period presented in this quarterly
report.  Management retained the services of a certified public accountant
to prepare a compilation of its books and records and to the best of our
knowledge andbelief, this report correctly reflects the financial condition
of the Company as of September 30, 2004. While the financial statements have
not been audited, the Company anticipates having audited financial statements
prepared when it is financially able to do so.


         4. I am responsible for establishing and maintaining disclosure
controls and procedures (as defined in Exchange Act Rules 13a-14 and 15d-14)
for the registrant and have:

                  a) designed such disclosure controls and procedures to
       	ensure that material information relating to the
            registrant, including its consolidated subsidiaries,
            is made known to us by others within those entities,
            particularly during the period in which this quarterly
            report is being prepared;

                  b) evaluated the effectiveness of the registrant's
            disclosure controls and procedures as of a date within
            90 days prior to the filing date of this quarterly
            report (the "Evaluation Date"); and

                  c) presented in this quarterly report our conclusions about
            the effectiveness of the disclosure controls and procedures
            based on our evaluation as of the Evaluation Date;

         5. I have indicated in this quarterly report whether or not there were
significant changes in internal controls or in other factors that could have s
ignificantly affected internal controls subsequent to the date of our most
recent evaluation, including any corrective actions with regard to significant
deficiencies and material weaknesses.


                   /s/ Michael S. Monaco
                              ----------------------------------------
                              Michael S. Monaco
                              Chief Executive Officer
         	Chief Financial Officer