CUSIP No. NONE  13D Page 12  of  13 Pages 

EXHIBIT 1

JOINT FILING AGREEMENT

     In accordance with Rule 13d-1(k)(1)(iii) under the Securities Exchange Act of 1934, as amended, the persons named below agree to the joint filing on behalf of each of them of an amendment to Schedule 13D, dated November 29, 2010 (including amendments thereto) with respect to the common shares of Venture Lending & Leasing V, Inc. This Joint Filing Agreement shall be filed as an Exhibit to such amendment to Schedule 13D.

     Dated: November 29, 2010

WESTECH INVESTMENT ADVISORS LLC		VENTURE LENDING & LEASING V, LLC
		By:	Westech Investment Advisors LLC,
By:	/s/ Ronald W. Swenson Ronald W. Swenson		Its Managing Member
	Chief Executive Officer
		By:	/s/ Ronald W. Swenson Ronald W. Swenson
By:	/s/ Salvador O. Gutierrez Salvador O. Gutierrez		Chief Executive Officer
	President
		By:	/s/ Salvador O. Gutierrez Salvador O. Gutierrez
			President
/s/ Ronald W. Swenson
RONALD W. SWENSON
		WESTECH INVESTMENT MANAGEMENT, INC.
/s/ Salvador O. Gutierrez
SALVADOR O. GUTIERREZ
		By:	/s/ Ronald W. Swenson Ronald W. Swenson
			Chief Executive Officer
		By:	/s/ Salvador O. Gutierrez Salvador O. Gutierrez
			President