-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 KdD+dw9tKeUxTKip4Ez33A==

<SEC-DOCUMENT>0001309022-10-000001.txt : 20100713
<SEC-HEADER>0001309022-10-000001.hdr.sgml : 20100713
<ACCEPTANCE-DATETIME>20100713124444
ACCESSION NUMBER:		0001309022-10-000001
CONFORMED SUBMISSION TYPE:	D
PUBLIC DOCUMENT COUNT:		1
ITEM INFORMATION:		Rule 506
ITEM INFORMATION:		Securities Act Section 4(6)
FILED AS OF DATE:		20100713
DATE AS OF CHANGE:		20100713
EFFECTIVENESS DATE:		20100713

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TOWER FINANCIAL CORP
		CENTRAL INDEX KEY:			0001072847
		STANDARD INDUSTRIAL CLASSIFICATION:	STATE COMMERCIAL BANKS [6022]
		IRS NUMBER:				352051170
		STATE OF INCORPORATION:			IN
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		D
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-144827
		FILM NUMBER:		10949771

	BUSINESS ADDRESS:	
		STREET 1:		116 E BERRY ST
		STREET 2:		N/A
		CITY:			FORT WAYNE
		STATE:			IN
		ZIP:			46802
		BUSINESS PHONE:		260-427-7000

	MAIL ADDRESS:	
		STREET 1:		116 E BERRY ST
		STREET 2:		N/A
		CITY:			FORT WAYNE
		STATE:			IN
		ZIP:			46802
</SEC-HEADER>
<DOCUMENT>
<TYPE>D
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0704</schemaVersion>

    <submissionType>D</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001072847</cik>
        <entityName>TOWER FINANCIAL CORP</entityName>
        <issuerAddress>
            <street1>116 E BERRY ST</street1>
            <street2>N/A</street2>
            <city>FORT WAYNE</city>
            <stateOrCountry>IN</stateOrCountry>
            <stateOrCountryDescription>INDIANA</stateOrCountryDescription>
            <zipCode>46802</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>260-427-7000</issuerPhoneNumber>
        <jurisdictionOfInc>INDIANA</jurisdictionOfInc>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <edgarPreviousNameList>
            <value>None</value>
        </edgarPreviousNameList>
        <entityType>Corporation</entityType>
        <yearOfInc>
            <overFiveYears>true</overFiveYears>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Michael</firstName>
                <middleName>D</middleName>
                <lastName>Cahill</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>116 East Berry Street</street1>
                <city>Fort Wayne</city>
                <stateOrCountry>IN</stateOrCountry>
                <stateOrCountryDescription>INDIANA</stateOrCountryDescription>
                <zipCode>46802</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>CEO &amp; President</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Richard</firstName>
                <middleName>R</middleName>
                <lastName>Sawyer</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>116 East Berry Street</street1>
                <city>Fort Wayne</city>
                <stateOrCountry>IN</stateOrCountry>
                <stateOrCountryDescription>INDIANA</stateOrCountryDescription>
                <zipCode>46802</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>EVP, Chief Financial Officer &amp; Secretary</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Keith</firstName>
                <middleName>E</middleName>
                <lastName>Busse</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>116 East Berry Street</street1>
                <city>Fort Wayne</city>
                <stateOrCountry>IN</stateOrCountry>
                <stateOrCountryDescription>INDIANA</stateOrCountryDescription>
                <zipCode>46802</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Chairman of the Board</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Kathryn</firstName>
                <middleName>D</middleName>
                <lastName>Callen</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>116 East Berry Street</street1>
                <city>Fort Wayne</city>
                <stateOrCountry>IN</stateOrCountry>
                <stateOrCountryDescription>INDIANA</stateOrCountryDescription>
                <zipCode>46802</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Scott</firstName>
                <middleName>A</middleName>
                <lastName>Glaze</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>116 East Berry Street</street1>
                <city>Fort Wayne</city>
                <stateOrCountry>IN</stateOrCountry>
                <stateOrCountryDescription>INDIANA</stateOrCountryDescription>
                <zipCode>46802</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Jerome</firstName>
                <middleName>F</middleName>
                <lastName>Henry, Jr</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>116 East Berry Street</street1>
                <city>Fort Wayne</city>
                <stateOrCountry>IN</stateOrCountry>
                <stateOrCountryDescription>INDIANA</stateOrCountryDescription>
                <zipCode>46802</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Debra</firstName>
                <middleName>A</middleName>
                <lastName>Neizer</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>116 East Berry Street</street1>
                <city>Fort Wayne</city>
                <stateOrCountry>IN</stateOrCountry>
                <stateOrCountryDescription>INDIANA</stateOrCountryDescription>
                <zipCode>46802</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>William</firstName>
                <middleName>G</middleName>
                <lastName>Neizer</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>116 East Berry Street</street1>
                <city>Fort Wayne</city>
                <stateOrCountry>IN</stateOrCountry>
                <stateOrCountryDescription>INDIANA</stateOrCountryDescription>
                <zipCode>46802</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Joseph</firstName>
                <middleName>D</middleName>
                <lastName>Ruffolo</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>116 East Berry Street</street1>
                <city>Fort Wayne</city>
                <stateOrCountry>IN</stateOrCountry>
                <stateOrCountryDescription>INDIANA</stateOrCountryDescription>
                <zipCode>46802</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Donald</firstName>
                <middleName>F</middleName>
                <lastName>Schenkel</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>116 East Berry Street</street1>
                <city>Fort Wayne</city>
                <stateOrCountry>IN</stateOrCountry>
                <stateOrCountryDescription>INDIANA</stateOrCountryDescription>
                <zipCode>46802</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Robert</firstName>
                <middleName>N</middleName>
                <lastName>Taylor</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>116 East Berry Street</street1>
                <city>Fort Wayne</city>
                <stateOrCountry>IN</stateOrCountry>
                <stateOrCountryDescription>INDIANA</stateOrCountryDescription>
                <zipCode>46802</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>John</firstName>
                <middleName>V</middleName>
                <lastName>Tippmann, Sr</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>116 East Berry Street</street1>
                <city>Fort Wayne</city>
                <stateOrCountry>IN</stateOrCountry>
                <stateOrCountryDescription>INDIANA</stateOrCountryDescription>
                <zipCode>46802</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Irene</firstName>
                <middleName>A</middleName>
                <lastName>Walters</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>116 East Berry Street</street1>
                <city>Fort Wayne</city>
                <stateOrCountry>IN</stateOrCountry>
                <stateOrCountryDescription>INDIANA</stateOrCountryDescription>
                <zipCode>46802</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Wendell</firstName>
                <middleName>L.</middleName>
                <lastName>Bontrager</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>116 East Berry Street</street1>
                <city>Fort Wayne</city>
                <stateOrCountry>IN</stateOrCountry>
                <stateOrCountryDescription>INDIANA</stateOrCountryDescription>
                <zipCode>46802</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Chief Lending Officer
EVP - Tower Bank &amp; Trust Co.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Gary</firstName>
                <middleName>D</middleName>
                <lastName>Shearer</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>116 East Berry Street</street1>
                <city>Fort Wayne</city>
                <stateOrCountry>IN</stateOrCountry>
                <stateOrCountryDescription>INDIANA</stateOrCountryDescription>
                <zipCode>46802</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>EVP - Tower Financial Corporation
CEO &amp; President - Tower Trust Company</relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Commercial Banking</industryGroupType>
        </industryGroup>
        <issuerSize>
            <revenueRange>$5,000,001 - $25,000,000</revenueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06</item>
            <item>46</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>false</isAmendment>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2010-06-30</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>false</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isEquityType>true</isEquityType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>25000</minimumInvestmentAccepted>
        <salesCompensationList></salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>2905000</totalOfferingAmount>
            <totalAmountSold>2905000</totalAmountSold>
            <totalRemaining>0</totalRemaining>
            <clarificationOfResponse></clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>8</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>0</dollarAmount>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse></clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
            </grossProceedsUsed>
            <clarificationOfResponse></clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>TOWER FINANCIAL CORP</issuerName>
                <signatureName>Michael D. Cahill</signatureName>
                <nameOfSigner>Michael D. Cahill</nameOfSigner>
                <signatureTitle>CEO &amp; President</signatureTitle>
                <signatureDate>2010-07-13</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----