<TABLE> <S> <C>

<ARTICLE>                                                    5 
<LEGEND>                                             
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM MARCH 
31, 1997, 10-QSB AND IS QUAILIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH 
FINANCIAL STATEMENTS. 
</LEGEND>                                                
       
<CURRENCY>                                                   U.S. Dollars
<S>                                                            <C>    
<PERIOD-TYPE>                                                3-MOS 
<FISCAL-YEAR-END>                                            DEC-31-1997
<PERIOD-START>                                               JAN-01-1997
<PERIOD-END>                                                 MAR-31-1997
<EXCHANGE-RATE>                                                     3.75
<CASH>                                                         3,164,721
<SECURITIES>                                                           0
<RECEIVABLES>                                                113,576,198
<ALLOWANCES>                                                 (23,082,598)
<INVENTORY>                                                    6,325,978
<CURRENT-ASSETS>                                                       0
<PP&E>                                                           630,938
<DEPRECIATION>                                                         0
<TOTAL-ASSETS>                                                87,303,318
<CURRENT-LIABILITIES>                                         83,387,714
<BONDS>                                                                0
<COMMON>                                                          11,022
<PREFERRED-MANDATORY>                                                  0
<PREFERRED>                                                            0
<OTHER-SE>                                                             0
<TOTAL-LIABILITY-AND-EQUITY>                                  87,303,318
<SALES>                                                                0
<TOTAL-REVENUES>                                               2,961,152
<CGS>                                                                  0
<TOTAL-COSTS>                                                  3,148,569
<OTHER-EXPENSES>                                                       0
<LOSS-PROVISION>                                                  96,012
<INTEREST-EXPENSE>                                             1,955,355
<INCOME-PRETAX>                                                 (187,417)
<INCOME-TAX>                                                           0
<INCOME-CONTINUING>                                                    0
<DISCONTINUED>                                                         0
<EXTRAORDINARY>                                                        0
<CHANGES>                                                              0
<NET-INCOME>                                                    (187,417)
<EPS-PRIMARY>                                                      (0.16)
<EPS-DILUTED>                                                      (0.16)
                              

</TABLE>