content: UNITED STATES
                         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) January 12, 2005
                                                   ----------------
  
  
                        Transnational Financial Network, Inc.
  -------------------------------------------------------------------------------
          (Exact name of small business issuer as specified in its charter)
  
  
  California                       1-14219                           94-2964195
  -------------------------------------------------------------------------------
  (State or other jurisdiction     (Commission File            (I.R.S.Employer
  of incorporation)                   Number)                  Identification No.)
  
  401 Taraval Street, San Francisco, CA                             94116
  -------------------------------------------------------------------------------
  (Address of principal executive offices)                          (Zip Code)
  
  
  
  (Registrant's telephone number, including area code: (415) 242-7800
  
  
  
  
  -------------------------------------------------------------------------------
  (Former name, former address and former fiscal year, if changed since last
  report)
  
  
  
  
  <PAGE>
  
  
  Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an
  Off-Balance sheet Arrangement of a Registrant.
  
  On January 12, 2005, the registrant closed an offering of $2,687,700 of
  convertible subordinated redeemable debt. The Company received $2,539,000 after
  paying issuance costs of $148,700. The debt matures on January 12, 2015, bears
  interest at the rate of 8.5% per annum, payable at the end of each calendar
  quarter. The obligations are subordinated to all indebtedness outstanding on
  January 12, 2005 and all existing and future warehouse, quicksale or gestation
  lines of credit. The indebtedness is convertible at the option of the holder,
  and subject to adjustment in certain circumstances, at $1.00 per share. For the
  first 18 months the indebtedness is outstanding, the indebtedness can be
  redeemed without conversion at a redemption price equal to 120% of the principal
  amount redeemed. For the next succeeding six months, the indebtedness may be
  redeemed for 115% of the principal amount redeemed and thereafter until maturity
  at 110% of the amount redeemed, in both instances subject to right of the holder
  to convert.
  
  The offering was placed with 30 separate investors, each of whom is accredited
  as defined in Regulation D. The offering was exempt from registration pursuant
  Section 4(2) of the Securities Act of 1933, as amended, and Regulation D
  promulgated thereunder.
  
  Item 9.01 Exhibits
  
  Exhibit 2005(1) Form of 8.5% Convertible Subordinated Note Due 2015
  
  
  
  
  
  <PAGE>
  
  
  
                                     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, thereby duly
  authorized.
  
  
  
      Date: January 12, 2005
                                            Transnational Financial Corporation
  
  
                                            /s/ Joseph Kristul
                                            -------------------------------------
                                            Joseph Kristul, President
metadata_documents: [{"type": "8-K", "sequence": "1", "filename": "f8k.txt", "description": "CURRENT REPORT", "secsgml_size_bytes": 3482}]
metadata_filer: {"company-data": {"conformed-name": "TRANSNATIONAL FINANCIAL NETWORK INC", "cik": "0001059579", "assigned-sic": "6162", "irs-number": "942964195", "state-of-incorporation": "CA", "fiscal-year-end": "0430"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-14219", "film-number": "05532928"}, "business-address": {"street1": "401 TARAVAL STREET", "street2": "SUITE 270", "city": "SAN FRANCISCO", "state": "CA", "zip": "94116", "phone": "4152427800"}, "mail-address": {"street1": "401 TARAVAL STREET", "street2": "301 JUNIPERO SERRA BLVD SUITE 270", "city": "SAN FRANCISCO", "state": "CA", "zip": "94116"}, "former-company": {"former-conformed-name": "TRANSNATIONAL FINANCIAL CORP", "date-changed": "19980410"}}
text: UNITED STATES
                         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) January 12, 2005
                                                   ----------------
  
                        Transnational Financial Network, Inc.
  -------------------------------------------------------------------------------
          (Exact name of small business issuer as specified in its charter)
  
  California                       1-14219                           94-2964195
  -------------------------------------------------------------------------------
  (State or other jurisdiction     (Commission File            (I.R.S.Employer
  of incorporation)                   Number)                  Identification No.)
  
  401 Taraval Street, San Francisco, CA                             94116
  -------------------------------------------------------------------------------
  (Address of principal executive offices)                          (Zip Code)
  
  (Registrant's telephone number, including area code: (415) 242-7800
  
  -------------------------------------------------------------------------------
  (Former name, former address and former fiscal year, if changed since last
  report)
  Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an
  Off-Balance sheet Arrangement of a Registrant.
  
  On January 12, 2005, the registrant closed an offering of $2,687,700 of
  convertible subordinated redeemable debt. The Company received $2,539,000 after
  paying issuance costs of $148,700. The debt matures on January 12, 2015, bears
  interest at the rate of 8.5% per annum, payable at the end of each calendar
  quarter. The obligations are subordinated to all indebtedness outstanding on
  January 12, 2005 and all existing and future warehouse, quicksale or gestation
  lines of credit. The indebtedness is convertible at the option of the holder,
  and subject to adjustment in certain circumstances, at $1.00 per share. For the
  first 18 months the indebtedness is outstanding, the indebtedness can be
  redeemed without conversion at a redemption price equal to 120% of the principal
  amount redeemed. For the next succeeding six months, the indebtedness may be
  redeemed for 115% of the principal amount redeemed and thereafter until maturity
  at 110% of the amount redeemed, in both instances subject to right of the holder
  to convert.
  
  The offering was placed with 30 separate investors, each of whom is accredited
  as defined in Regulation D. The offering was exempt from registration pursuant
  Section 4(2) of the Securities Act of 1933, as amended, and Regulation D
  promulgated thereunder.
  
  Item 9.01 Exhibits
  
  Exhibit 2005(1) Form of 8.5% Convertible Subordinated Note Due 2015
  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, thereby duly
  authorized.
  
      Date: January 12, 2005
                                            Transnational Financial Corporation
  
                                            /s/ Joseph Kristul
                                            -------------------------------------
                                            Joseph Kristul, President