Rule 424(b)(3)
                                                  File No. 333-58723

Pricing Supplement No. 40                         Dated: August 10, 1999
(To Prospectus dated July 17, 1998
Prospectus Supplement dated August 28, 1998)


U.S. $5,000,000,000

Heller Financial, Inc.

Medium-Term Notes, Series I

(Registered Notes- Floating Rate)
Due From Nine Months to Thirty Years From Date of Issue

Principal Amount: $25,000,000             Issue Price: 100.00%

Original Issue Date: August 11, 1999      Stated Maturity Date: August 11, 2000

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 [X] LIBOR [ ] Treasury Rate
             [ ] Federal Funds Rate [ ] Prime Rate [ ] Other:

Interest Reset Period: Monthly

Interest Payment Period: Monthly

Interest Reset Dates: (If other than as specified in the Prospectus Supplement):
The 11th day of each month, beginning September 13, 1999 up to but excluding the
Stated Maturity Date.

Interest Payment Dates: (If other than as specified in the Prospectus
Supplement): The 11th day of each month, beginning September 13, 1999 up to and
including the Stated Maturity Date.

Interest Determination Date(s): Two London Banking Days prior to each Interest
Reset Date


Initial Interest Rate: 5.36625%

Index Maturity: 1 Month LIBOR

Day Count Convention: Act/360

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

Spread (+/-): +.11%                           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: .05%

Other Provisions:  a)  AMOUNT ISSUED TO DATE, PRIOR TO PRICING SUPPLEMENT NO. 40
                       UNDER MTN-SERIES I PROGRAM: $2,989,375,000.00
                   b)  CUSIP #42333HMA7

Agent: Chase Securities Inc.
       270 Park Avenue
       New York, New York 10017