10QSB/A

                UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
                              ---------------------

                                   FORM 10-QSB/A

                QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D)
                     OF THE SECURITIES EXCHANGE ACT OF 1934

                       For the quarter ended June 30, 1998
                         Commission file number 0-24606

                             NORTHWEST EQUITY CORP.
        (exact name of small business issuer as specified in its charter)

           Wisconsin                                          39-1772981
(State or other jurisdiction of                            (I.R.S. Employer
 incorporation or organization)                            Identification No.)


     234 Keller Avenue South
        Amery, Wisconsin                                         54001
(Address of principal executive offices)                       (Zip code)

                                 (715) 268-7105
                (Issuer's telephone number, including area code)

     Check whether the issuer (1) has filed all reports  required to be filed by
Section 13 or 15(d) of the  Securities  Exchange  Act of 1934 during the past 12
months (or for such shorter period that the registrant was required to file such
report(s),  and (2) has been subject to such filing requirements for the past 90
days.
                                                  (1) Yes __x__ No_____
                                                  (2) Yes __x__ No_____

     The number of shares  outstanding of the issuer's  common stock,  $1.00 par
value per share, was 825,301 at June 30, 1998.


SIGNATURES

         In accordance with 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, thereunto duly authorized.

                                                      NORTHWEST EQUITY CORP.


Dated:____8/13/98______________                By: ___/s/Brian L. Beadle_____
                                                (Brian L. Beadle, President
                                                Principal Executive Officer and
                                                Principal Financial and
                                                Accounting Officer)



                                       1

EX-27

 



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<PERIOD-END>                       JUN-30-1998
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