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<P style="margin:0pt; line-height:20pt; font-family:Times New Roman; font-size:18pt" align=center><B>U.S. SECURITIES AND EXCHANGE COMMISSION </B></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center><B>Washington, D.C. 20549 </B></P>
<P style="margin:0pt; line-height:9.5pt; font-family:Times New Roman; font-size:7.5pt">&nbsp;&nbsp;</P>
<P style="margin:0pt; line-height:20pt; font-family:Times New Roman; font-size:18pt" align=center><B>FORM 8-K </B></P>
<P style="margin:0pt; line-height:9.5pt; font-family:Times New Roman; font-size:7.5pt">&nbsp;&nbsp;</P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center><B>CURRENT REPORT </B></P>
<P style="margin:0pt; line-height:9.5pt; font-family:Times New Roman; font-size:7.5pt">&nbsp;&nbsp;</P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center><B>Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 </B></P>
<P style="margin:0pt; line-height:9.5pt; font-family:Times New Roman; font-size:7.5pt">&nbsp;&nbsp;</P>
<P style="margin:0pt; font-family:Times New Roman" align=center><B>Date of Report (Date of earliest event reported): <A NAME="FIS_UNIDENTIFIED_TABLE"></A>October 30, 2007</B>&nbsp; <BR>
</P>
<P style="margin:0pt; line-height:9.5pt; font-family:Times New Roman; font-size:7.5pt">&nbsp;&nbsp;</P>
<P style="margin:0pt; line-height:20pt; font-family:Times New Roman; font-size:18pt" align=center><B>Venture Lending &amp; Leasing V, Inc. </B></P>
<P style="margin:0pt; line-height:9.5pt; font-family:Times New Roman; font-size:7.5pt" align=center><B>(Exact name of registrant as specified in its charter) </B></P>
<P style="margin:0pt; line-height:9.5pt; font-family:Times New Roman; font-size:7.5pt">&nbsp;&nbsp;</P>
<TABLE style="font-size:10pt" cellspacing=0 align=center><TR><TD width=221.667>&nbsp;</TD><TD valign=bottom width=13.467>&nbsp;</TD><TD width=208.333>&nbsp;</TD><TD valign=bottom width=13.467>&nbsp;</TD><TD width=215.067>&nbsp;</TD></TR>
<TR><TD valign=bottom width=221.667><P style="margin:0pt; font-family:Times New Roman" align=center><B>DELAWARE </B></P>
</TD><TD valign=bottom width=13.467><P style="margin:0pt; line-height:9.5pt; font-family:Times New Roman; font-size:7.5pt">&nbsp;&nbsp;</P>
</TD><TD valign=bottom width=208.333><P style="margin:0pt; font-family:Times New Roman" align=center><B>814-00731</B></P>
</TD><TD valign=bottom width=13.467><P style="margin:0pt; line-height:9.5pt; font-family:Times New Roman; font-size:7.5pt">&nbsp;&nbsp;</P>
</TD><TD valign=bottom width=215.067><P style="margin:0pt; font-family:Times New Roman" align=center><B>14-1974295</B></P>
</TD></TR>
<TR><TD valign=top width=221.667><P style="margin:0pt; font-family:Times New Roman" align=center>(State&nbsp;or&nbsp;other&nbsp;jurisdiction </P>
<P style="margin-top:0pt; margin-bottom:0.75pt; font-family:Times New Roman" align=center>of incorporation) </P>
</TD><TD valign=bottom width=13.467><P style="margin:0pt; line-height:9.5pt; font-family:Times New Roman; font-size:7.5pt">&nbsp;&nbsp;</P>
</TD><TD valign=top width=208.333><P style="margin:0pt; font-family:Times New Roman" align=center>(Commission </P>
<P style="margin-top:0pt; margin-bottom:0.75pt; font-family:Times New Roman" align=center>File Number) </P>
</TD><TD valign=bottom width=13.467><P style="margin:0pt; line-height:9.5pt; font-family:Times New Roman; font-size:7.5pt">&nbsp;&nbsp;</P>
</TD><TD valign=bottom width=215.067><P style="margin:0pt; font-family:Times New Roman" align=center>(I.R.S. Employer </P>
<P style="margin-top:0pt; margin-bottom:0.75pt; font-family:Times New Roman" align=center>Identification No.) </P>
</TD></TR>
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<P style="margin:0pt; line-height:9.5pt; font-family:Times New Roman; font-size:7.5pt">&nbsp;&nbsp;</P>
<P style="margin:0pt; line-height:9.5pt; font-family:Times New Roman; font-size:7.5pt">&nbsp;&nbsp;</P>
<P style="margin:0pt; font-family:Times New Roman" align=center><B>2010 North First Street, Suite 310, San Jose, CA 95131</B></P>
<P style="margin:0pt; font-family:Times New Roman" align=center>(Address of principal executive offices, zip code) </P>
<P style="margin:0pt; line-height:9.5pt; font-family:Times New Roman; font-size:7.5pt">&nbsp;&nbsp;</P>
<P style="margin:0pt; font-family:Times New Roman" align=center>Registrant&#146;s telephone number, including area code: <B>(408) 436-8577 </B></P>
<P style="margin:0pt; font-family:Times New Roman" align=center><B>N/A </B></P>
<P style="margin:0pt; font-family:Times New Roman" align=center>(Former name or former address, if changed since last report) </P>
<P style="margin:0pt; line-height:9.5pt; font-family:Times New Roman; font-size:7.5pt">&nbsp;&nbsp;</P>
<P style="margin:0pt; font-family:Times New Roman">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: </P>
<P style="margin:0pt; line-height:9.5pt; font-family:Times New Roman; font-size:7.5pt">&nbsp;&nbsp;</P>
<TABLE style="font-size:10pt" cellspacing=0><TR><TD valign=top width=13.467>&nbsp;</TD><TD valign=top width=658.533>&nbsp;</TD></TR>
</TABLE>
<P style="margin:0pt; font-family:Times New Roman; font-size:7.5pt">&nbsp;</P>
<TABLE style="font-size:10pt" cellspacing=0><TR><TD valign=top width=25.267><P style="margin:0pt; font-family:Wingdings">&#168; </P>
</TD><TD valign=top width=646.733><P style="margin:0pt; font-family:Times New Roman">Written communications pursuant to Rule 425 under the Securities Act </P>
</TD></TR>
<TR><TD valign=top width=25.267><P style="margin:0pt; font-family:Wingdings">&#168; </P>
</TD><TD valign=top width=646.733><P style="margin:0pt; font-family:Times New Roman">Soliciting material pursuant to Ruse 14a-12(b) under the Exchange Act</P>
</TD></TR>
<TR><TD valign=top width=25.267><P style="margin:0pt; font-family:Wingdings">&#168; </P>
</TD><TD valign=top width=646.733><P style="margin:0pt; font-family:Times New Roman">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act </P>
</TD></TR>
<TR><TD valign=top width=25.267><P style="margin:0pt; font-family:Wingdings">&#168; </P>
</TD><TD valign=top width=646.733><P style="margin:0pt; font-family:Times New Roman">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.</P>
</TD></TR>
</TABLE>
<P style="margin:0pt; line-height:9.5pt; font-family:Times New Roman; font-size:7.5pt">&nbsp;</P>
<TABLE style="font-size:10pt" cellspacing=0><TR><TD valign=top width=13.467>&nbsp;</TD><TD valign=top width=658.533>&nbsp;</TD></TR>
<TR><TD valign=top width=13.467><P style="margin:0pt; line-height:9.5pt; font-family:Times New Roman; font-size:7.5pt">&nbsp;&nbsp;</P>
</TD><TD valign=top width=658.533>&nbsp;</TD></TR>
</TABLE>
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<P style="margin-top:4.15pt; margin-bottom:4.15pt; font-family:Times New Roman"><B>Item&nbsp;5.02. Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers. </B></P>
<P style="margin-top:4.15pt; margin-bottom:-12pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P style="margin-top:0pt; margin-bottom:4.15pt; text-indent:36pt; font-family:Times New Roman">On October 30, 2007, Maurice C. Werdegar was promoted from the position of Vice President to President of Venture Lending &amp; Leasing V, Inc. (the &#147;Company&#148;). &nbsp;Mr. Werdegar, 42, has also served as a Vice President of Westech Investment Advisors, Inc., the Company&#146;s Investment Manager, since 2002. &nbsp;Salvador O. Gutierrez, the Company&#146;s previous President, resigned from such position upon Mr. Werdegar&#146;s appointment. &nbsp;Mr. Gutierrez will continue to serve as a Director of the Company. &nbsp;</P>
<P style="margin-top:4.15pt; margin-bottom:4.15pt; text-indent:36pt; font-family:Times New Roman">Effective December 31, 2007, Brian R. Best, a Vice President of the Company, will resign from such position.</P>
<P style="margin-top:0pt; margin-bottom:6pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin-top:5pt; margin-bottom:5pt; font-family:Times New Roman; font-size:12pt">&nbsp;</P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Item 7. &nbsp;Financial Statements and Exhibits</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:-14pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Exhibit Number </P>
<P style="margin:0pt; text-indent:108pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Description</P>
<P style="margin-top:0pt; margin-bottom:-14pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">&nbsp;------------------</P>
<P style="margin:0pt; text-indent:108pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">--------------- </P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">None</P>
<P style="margin:0pt; padding-left:108pt; text-indent:-108pt; font-family:Times New Roman; font-size:12pt"><BR></P>
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<P style="margin:0pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>SIGNATURES</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
<P style="margin:0pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>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 duly authorized.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">VENTURE LENDING &amp; LEASING IV, INC.</P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">(Registrant)</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:-14pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">By:</P>
<P style="margin-top:0pt; margin-bottom:-14pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><U>/S/ Ronald W. Swenson</U></P>
<U><P style="margin-top:0pt; margin-bottom:-14pt; text-indent:252pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"></U>By:</P>
<P style="margin-top:0pt; margin-bottom:-14pt; text-indent:288pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><U>/S/ Martin D. Eng</U></P>
<P style="margin:0pt; text-indent:432pt; font-family:Times New Roman; font-size:12pt"><U><BR></U></P>
<P style="margin-top:0pt; margin-bottom:-14pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Ronald W. Swenson</P>
<P style="margin:0pt; text-indent:252pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Martin D. Eng</P>
<P style="margin-top:0pt; margin-bottom:-14pt; padding-left:252pt; text-indent:-252pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Chief Executive Officer</P>
<P style="margin:0pt; padding-left:252pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Chief Financial Officer</P>
<P style="margin-top:0pt; margin-bottom:-14pt; padding-left:252pt; text-indent:-252pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Date: </P>
<P style="margin-top:0pt; margin-bottom:-14pt; padding-left:252pt; text-indent:-216pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">November 5, 2007</P>
<P style="margin-top:0pt; margin-bottom:-14pt; padding-left:252pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Date:</P>
<P style="margin:0pt; padding-left:252pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">November 5, 2007</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
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Converted by EDGARwiz
U.S. 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):
October 30, 2007
Venture Lending & Leasing V, Inc.
(Exact name of registrant as specified in its charter)
DELAWARE
814-00731
14-1974295
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(I.R.S. Employer
Identification No.)
2010 North First Street, Suite 310, San Jose, CA 95131
(Address of principal executive offices, zip code)
Registrant's telephone number, including area code:
(408) 436-8577
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨
Written communications pursuant to Rule 425 under the Securities Act
¨
Soliciting material pursuant to Ruse 14a-12(b) under the Exchange Act
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.
Item 5.02. Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.
On October 30, 2007, Maurice C. Werdegar was promoted from the position of Vice President to President of Venture Lending & Leasing V, Inc. (the "Company").  Mr. Werdegar, 42, has also served as a Vice President of Westech Investment Advisors, Inc., the Company's Investment Manager, since 2002.  Salvador O. Gutierrez, the Company's previous President, resigned from such position upon Mr. Werdegar's appointment.  Mr. Gutierrez will continue to serve as a Director of the Company.
Effective December 31, 2007, Brian R. Best, a Vice President of the Company, will resign from such position.
Item 7.  Financial Statements and Exhibits
Exhibit Number
Description
------------------
---------------
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 duly authorized.
VENTURE LENDING & LEASING IV, INC.
(Registrant)
By:
/S/ Ronald W. Swenson
By:
/S/ Martin D. Eng
Ronald W. Swenson
Martin D. Eng
Chief Executive Officer
Chief Financial Officer
Date:
November 5, 2007
Date:
November 5, 2007