UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D.C. 20549 FORM 8-K

~~Washington~~CURRENT ~~D.C.~~REPORT Pursuant ~~20549~~to Section 13 or 15(d) of the Securities Exchange Act of 1934

~~FORM~~ April ~~8-K~~4, 2003 Date of Report (Date of earliest event reported)

~~CURRENT REPORT~~X
POINT WEST CAPITAL CORPORATION
(Exact name of registrant as specified in its charter)

~~Pursuant~~ Delaware (State toor ~~Section~~other 13jurisdiction of incorporation or 15organization) 0-27736 (dCommission File Number) 94-3165263 (I.R.S. ~~of the~~ Employer ~~Securities~~ Identification ~~Exchange Act of 1934~~Number)

~~November~~ 1750 15Montgomery Street San Francisco, ~~2001~~California ~~Date~~ (Address of ~~Report~~principal executive offices) 94111 (~~Date~~Zip ofCode) (415) ~~earliest~~394-9467 (Registrant’s ~~event~~telephone ~~reported~~number, including area code)

POINT WEST CAPITAL CORPORATION ( Exact name of registrant as specified in its charter)
Delaware 0-27736 94-3165263 (State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.)
1700 Montgomery Street, Suite 250, San Francisco, CA 94111 (Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (415)394-9467
Item 5. Other Events

On ~~November~~On 15April 4, ~~2001~~ 2003, Point West Capital Corporation ~~issued~~Announced aUpdated ~~press release announcing third quarter results and financial condition~~Information.

Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.

99.1 Text of Press Release dated ~~November~~On 15April 4, ~~2001~~ 2003.

SIGNATURES

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

Date: April 4, 2003

POINT WEST CAPITAL CORPORATION

By: /s/ John Ward Rotter

John Ward Rotter

Chief Executive Officer

~~Date: November 16, 2001~~2

EXHIBIT INDEX

Exhibit Number Document Description Sequential Page Number 99.1 Text of Press Release dated April 4, 2003 5

~~Sequential Page~~3

~~Number~~FOR IMMEDIATE RELEASE April 4, 2003

~~99.1~~POINT WEST CAPITAL CORPORATION ANNOUNCES UPATED INFORMATION

~~Text~~ SAN ofFRANCISCO ~~Press Release dated November 15, 2001~~

-- (April 4, 2003) Point West Capital Corporation (OTC Symbol: PWCC.OB) announced today that, as of March 31, 2003, the Company had approximately $150,000 of cash and cash equivalents, approximately $140,000 of other miscellaneous receivables, and less than $10,000 of payables.

5 The Company also announced that, since the third quarter of 2002, the Company’s only business activity has been its continued efforts to seek consent (the "Consent") from the Allegiance Capital Trust investors (the "Investors") to dissolve certain of the Allegiance entities and transfer the debt certificates held by Allegiance Funding I, LLC ("Allegiance Certificates"). The Allegiance Certificates are the Company’s remaining material non-cash asset. See the Company’s Form 10-QSB for the quarterly period ended September 30, 2002 for further information regarding the Allegiance Certificates.

~~FOR~~ At ~~IMMEDIATE~~March ~~RELEASE~~31, 2003, the ~~November~~Allegiance 15loans receivable were $28.9 million, ~~2001~~assets held for sale (which include funeral homes purchased from two Allegiance borrowers and a funeral home that Allegiance acquired via foreclosure) were $1.4 million and the Allegiance debt payable was $28.5 million. If the Company receives the Consent, the loans receivable, assets held for sale, and the debt payable reflected on the Company’s consolidated balance sheet will be eliminated because Point West Capital will no longer control Allegiance Funding I, LLC.

~~POINT~~ The ~~WEST~~Company ~~CAPITAL~~has ~~CORPORATION~~been ~~ANNOUNCES~~provided ~~THIRD~~with ~~QUARTER~~some ~~RESULTS~~information regarding the performance of the underlying loans and, ~~AND~~based ~~FINANCIAL~~on ~~CONDITION~~the apparent continuing problems with the loans, the Company believes that the loans receivable have declined in value and the Allegiance Certificates have declined in value accordingly. As a result, if the Consent had been received on March 31, 2003, the Company’s assets would have been approximately $1.8 million, which consists of cash, the estimated value of the Allegiance Certificates and the estimated value of other miscellaneous receivables, with negligible payables.

The Company does not have ~~SAN~~any ~~FRANCISCO~~business ~~--(November 15~~operations and does not have any prospect of resuming business operations. If the Company receives the Consent, ~~2001)~~the ~~Point~~Company ~~West~~plans ~~Capital~~to ~~Corporation~~seek ~~(OTC~~shareholder ~~Symbol:~~approval to ~~PWCC~~dissolve the Company.~~OB)~~ ~~today~~Following ~~reported~~that approval, the ~~following:~~Company will attempt to sell the Allegiance Certificates and other miscellaneous receivables in order to distribute the resulting proceeds together with the Company’s other assets to the shareholders, less any amounts retained to satisfy any liabilities. No assurance can be given that the Consent or other resolution will be obtained or, if obtained, that the Company will be able to sell the Allegiance Certificates on satisfactory terms or at all. If it is unable to resolve satisfactorily this matter, the Company may seek relief through a Chapter 7 bankruptcy liquidation proceeding.

~~(Dollars~~ Ward inRotter, ~~thousands~~the CEO, ~~except~~and Joanna ~~per~~Zesiger, ~~share~~the ~~amounts)~~CFO, are the only remaining employees of the Company. They work on an hourly basis as needed. The office is leased on a month-by-month basis.

	Three Months Ended				Nine Months Ended
	September, 30				September, 30
		2001		2000		2001		2000
Loss before extraordinary gain	$	(3,266)	$	(4,724)	$	(8,829)	$	(8,151)
Extraordinary gain	$	--	$	--	$	--	$	1,242
Net Loss	$	(3,266)	$	(4,724)	$	(8,829)	$	(6,909)
Loss per share before extraordinary gain:
Basic	$	(0.97) (1)	$	(1.41) (1)	$	(2.63) (1)	$	(2.43) (2)
Diluted	$	(0.97) (1)	$	(1.41) (1)	$	(2.63) (1)	$	(2.43) (2)
Net loss per share:
Basic	$	(0.97) (1)	$	(1.41) (1)	$	(2.63) (1)	$	(2.06) (2)
Diluted	$	(0.97) (1)	$	(1.41) (1)	$	(2.63) (1)	$	(2.06) (2)

The Company does not have the resources to bear ongoing expenses necessary to produce audited financial statements and to continue to file reports under the Securities and Exchange Act of 1934. As a result, the Company does not anticipate filing a Form 10-KSB for the year ended December 31, 2002 or any future Form 10-QSB. Any future material information relating to the Company will be reported on Form 8-K.

~~(1) Based~~CONTACTS: POINT onWEST 3CAPITAL CORPORATION,~~352,624~~ ~~weighted-average shares of~~SAN ~~common stock outstanding~~FRANCISCO. ~~(2) Based~~ John ~~on 3~~W. Rotter,~~352,504~~ ~~weighted~~415/362-~~average~~1977 ~~shares of common stock outstanding.~~x1

Point West Capital is a specialty financial services company. Further information regarding the Company, its results of operations and the other matters discussed in this press release is contained in the Company's Form 10-QSB for the quarterly period ended September 30, 2001 filed with the Securities and Exchange Commission on November 14, 2001.

The following is summary balance sheet information as of September 30, 2001:

Cash and cash equivalents...................................................................... $1,041,815 Restricted cash........................................................................................... $2,631,246 Investment Securities --available-for-sale............................................... $69,873 Loans receivable, net of unearned income of ........................................ $575,130 and net of an allowance for loan ....................................... losses of $185,884................................................................................. $36,415,434 Purchased life insurance policies.............................................................. $28,894,657 Non-marketable securities.......................................................................... $3,336,113 Total assets.................................................................................................. $74,216,348 Revolving certificates................................................................................. $8,903,745 Term certificates........................................................................................... $23,346,391 Securitized notes payable........................................................................... $33,653,767 Debenture payable....................................................................................... $6,500,000 Total liabilities.............................................................................................. $73,278,384 Accumulated comprehensive loss, net of tax......................................... $(113,310) Accumulated deficit.................................................................................... $(26,210,294) Total stockholders’ equity........................................................................ $937,964

(KEYWORD CALIFORNIA AND INDUSTRY KEYWORD: SPECIALTY FINANCE EARNINGS).

CONTACTS: POINT WEST CAPITAL CORPORATION, SAN FRANCISCO. Alan B. Perper, 415/394-9467

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