HELLER FINANCIAL INC
424B3, 1995-07-28
SHORT-TERM BUSINESS CREDIT INSTITUTIONS
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                                                              Rule 424(b)(3)
                                                              File No. 33-58716
 
 
Pricing Supplement No.: 31    Dated: July 26, 1995
(To Prospectus dated March 17, 1993 and
Prospectus Supplement dated March 31, 1993)


U.S.$2,500,000,000

HELLER FINANCIAL, INC.

MEDIUM-TERM NOTES, SERIES F

(REGISTERED NOTES - FLOATING RATE)
DUE FROM NINE MONTHS TO THIRTY YEARS FROM DATE OF ISSUE

Principal Amount:   $25,000,000        Issue Price: 100%

Original Issue Date: August 1, 1995        Stated Maturity Date: August 1, 1997
Form: [X] Book-Entry  [ ] Certificated

Depositary: Depository Trust Company

Specified Currency:  U.S. Dollars
     (If other than U.S. Dollars, see attached)

Option to Receive Payments in Specified Currency: [ ] Yes [ ] No
     (Applicable only if Specified Currency is other than U.S. Dollars)

Authorized Denominations:
     (Applicable only if Specified Currency is other than U.S. Dollars)

Base Rate: [ ] Commercial Paper Rate [ ] LIBOR [ ] Treasury Rate
                 [X] Federal Funds Rate [ ] Prime Rate [ ] Other:
 
Interest Reset Period: Daily

Interest Payment Period: Quarterly

Interest Reset Dates: (If other than as specified in the Prospectus Supplement)
Each Business Day, up to but excluding the Stated Maturity Date (Weighted
average)



<PAGE>
                                                             Rule 424(b)(3)    
                                                             File No. 33-58716 
 
Pricing Supplement No.: 31                       Dated: July 26, 1995
(To Prospectus dated March 17, 1993 and
Prospectus Supplement dated March 31, 1993)

Interest Payment Dates: (If other than as specified in the Prospectus
Supplement)  November 1, February 1, May 1 and August 1 of each year, commencing
November 1, 1995, up to and including maturity

Interest Determination Date(s):  The Business Day preceding each Interest Reset
Date (Weighted average)

Initial Interest Rate:  To be determined

Index Maturity: Daily

Day Count Convention:  Actual/360

Maximum Interest Rate: N/A                      Minimum Interest Rate:  N/A

Spread (+/-):    + .20%           Spread Multiplier: N/A

Optional Redemption: [ ] Yes [X] No
     Initial Redemption Date:
     The Redemption Price shall initially be   % of the principal amount of the
     Note to be redeemed and shall decline at each anniversary of the Initial
     Redemption Date by   % of the principal amount to be redeemed until the
     Redemption Price is 100% of such principal amount.

Optional Repayment: [ ] Yes [X] No
     Optional Repayment Dates:
     Optional Repayment Prices:

Repayment Provisions:
     (If other than as specified in the Prospectus Supplement)

Discount Note: [ ] Yes [X] No
     Total Amount of OID:
     Yield to Maturity:
     Initial Accrual Period OID:
Calculation Agent: Heller Financial, Inc.
Exchange Rate Agent: N/A
Recognized Foreign Exchange Dealers: N/A
Discount or Commission:  .08%

Other Provisions:  a)  AMOUNT ISSUED TO DATE, PRIOR TO PRICING SUPPLEMENT
                       NO. 31, UNDER MTN-SERIES F PROGRAM: $685,000,000
                   b)  CUSIP #:  42333HEN8

Agent:  Merrill Lynch & Co.
        250 Vesey Street
        New York, NY 10281






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