content: SECURITIES AND EXCHANGE COMMISSION
                       Washington, D.C.  20549
  
  
  
                               FORM 8-K
  
                            CURRENT REPORT
  
               PURSUANT TO SECTION 13 OR 15(d) OF THE
                   SECURITIES EXCHANGE ACT OF 1934
  
  
  
  Date of Report (Date of earliest event reported): August 19, 1998
  
  
  
                     FIRST SIERRA FINANCIAL, INC.
        (Exact name of Registrant as specified in its charter)
  
  
  
      {PRIVATE               0-22525             76-0438432
      }Delaware         (Commission File        (IRS Employer
   (State or Other           number)           Identification
   Jurisdiction of                                  No.)
   Incorporation)
  
  
  
      Chase Tower, Suite 7050, 600 Travis Street, Houston, Texas77002
  
               (Address of Principal Executive Offices)  (Zip Code)
  
  
  Registrant's telephone number, including area code:  (713) 221-8822
  
  <PAGE>
  
  ITEM 9.  OF EQUITY SECURITIES PURSUANT TO REGULATION S
  
       On August 19, 1998, First Sierra Financial, Inc. (the "Company")
  acquired all of the outstanding shares of capital stock of Booker Montague
  Leasing Limited, a company incorporated in England and Wales, in exchange for
  $2,000,000 cash and 80,200 shares of common stock, par value $.01 per share,
  of the Company.  The value of the Company's shares for the purpose of the
  exchange was $24.9375 per share.  The offering and issuance of the Company's
  shares was effected pursuant to Regulation S promulgated under the Securities
  Act of 1933, as amended.  The stock purchase agreement entered into among the
  parties to the transaction was executed and the closing of the transaction
  occurred in England.  The former shareholders of Booker Montague Leasing
  Limited are restricted from transferring the Company's shares received in the
  transaction into the U.S. for one year and the certificates representing such
  shares bear a legend to that effect.
  
  
                              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 hereunto duly authorized on this 3rd day of September, 1998.
  
  FIRST SIERRA FINANCIAL, INC.
  
  
  
  By:  /s/ Sandy B. Ho
       -----------------------------
       Name:  Sandy B. Ho
       Executive Vice President and
          Chief Financial Officer
  
  
                                INDEX TO EXHIBITS
  
  10.1     Stock Purchase Agreement, dated as of August 19, 1998, by and among
           First Sierra Financial, Inc., John D. Baird and Philip I. Lewis.
metadata_documents: [{"type": "8-K", "sequence": "1", "secsgml_size_bytes": 2565}]
metadata_filer: {"company-data": {"conformed-name": "FIRST SIERRA FINANCIAL INC", "cik": "0001034812", "assigned-sic": "6159", "irs-number": "760438432", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-22525", "film-number": "98703972"}, "business-address": {"street1": "CHASE TOWER SUITE 7050", "street2": "600 TRAVIS STREET", "city": "HOUSTON", "state": "TX", "zip": "77002", "phone": "7132218822"}, "mail-address": {"street1": "CHASE TOWER SUITE 7050", "street2": "600 TRAVIS STREET", "city": "HOUSTON", "state": "TX", "zip": "77002"}}
text: SECURITIES AND EXCHANGE COMMISSION
                       Washington, D.C.  20549
  
                               FORM 8-K
  
                            CURRENT REPORT
  
               PURSUANT TO SECTION 13 OR 15(d) OF THE
                   SECURITIES EXCHANGE ACT OF 1934
  
  Date of Report (Date of earliest event reported): August 19, 1998
  
                     FIRST SIERRA FINANCIAL, INC.
        (Exact name of Registrant as specified in its charter)
  
      {PRIVATE               0-22525             76-0438432
      }Delaware         (Commission File        (IRS Employer
   (State or Other           number)           Identification
   Jurisdiction of                                  No.)
   Incorporation)
  
      Chase Tower, Suite 7050, 600 Travis Street, Houston, Texas77002
  
               (Address of Principal Executive Offices)  (Zip Code)
  
  Registrant's telephone number, including area code:  (713) 221-8822
  ITEM 9.  OF EQUITY SECURITIES PURSUANT TO REGULATION S
  
       On August 19, 1998, First Sierra Financial, Inc. (the "Company")
  acquired all of the outstanding shares of capital stock of Booker Montague
  Leasing Limited, a company incorporated in England and Wales, in exchange for
  $2,000,000 cash and 80,200 shares of common stock, par value $.01 per share,
  of the Company.  The value of the Company's shares for the purpose of the
  exchange was $24.9375 per share.  The offering and issuance of the Company's
  shares was effected pursuant to Regulation S promulgated under the Securities
  Act of 1933, as amended.  The stock purchase agreement entered into among the
  parties to the transaction was executed and the closing of the transaction
  occurred in England.  The former shareholders of Booker Montague Leasing
  Limited are restricted from transferring the Company's shares received in the
  transaction into the U.S. for one year and the certificates representing such
  shares bear a legend to that effect.
  
                              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 hereunto duly authorized on this 3rd day of September, 1998.
  
  FIRST SIERRA FINANCIAL, INC.
  
  By:  /s/ Sandy B. Ho
       -----------------------------
       Name:  Sandy B. Ho
       Executive Vice President and
          Chief Financial Officer
  
                                INDEX TO EXHIBITS
  
  10.1     Stock Purchase Agreement, dated as of August 19, 1998, by and among
           First Sierra Financial, Inc., John D. Baird and Philip I. Lewis.