-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 M6QVlScaN9DXrF9FUHVN1iqENJdPoMYqk7bNjE1n4HnctSJZRwtFUbSMYfGA6OR2
 JpYy/yRpts93gwwXzJ8oow==

<SEC-DOCUMENT>0001428929-10-000003.txt : 20100212
<SEC-HEADER>0001428929-10-000003.hdr.sgml : 20100212
<ACCEPTANCE-DATETIME>20100212154041
ACCESSION NUMBER:		0001428929-10-000003
CONFORMED SUBMISSION TYPE:	D/A
PUBLIC DOCUMENT COUNT:		1
ITEM INFORMATION:		Rule 506
FILED AS OF DATE:		20100212
DATE AS OF CHANGE:		20100212
EFFECTIVENESS DATE:		20100212

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AEQUITAS COMMERCIAL FINANCE LLC
		CENTRAL INDEX KEY:			0001428929
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			OR

	FILING VALUES:
		FORM TYPE:		D/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-115436
		FILM NUMBER:		10598809

	BUSINESS ADDRESS:	
		STREET 1:		5300 MEADOWS ROAD
		STREET 2:		SUITE 400
		CITY:			LAKE OSWEGO
		STATE:			OR
		ZIP:			97035
		BUSINESS PHONE:		503-419-3500

	MAIL ADDRESS:	
		STREET 1:		5300 MEADOWS ROAD
		STREET 2:		SUITE 400
		CITY:			LAKE OSWEGO
		STATE:			OR
		ZIP:			97035
</SEC-HEADER>
<DOCUMENT>
<TYPE>D/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0603</schemaVersion>

    <submissionType>D/A</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001428929</cik>
        <entityName>AEQUITAS COMMERCIAL FINANCE LLC</entityName>
        <issuerAddress>
            <street1>5300 MEADOWS ROAD</street1>
            <street2>SUITE 400</street2>
            <city>LAKE OSWEGO</city>
            <stateOrCountry>OR</stateOrCountry>
            <zipCode>97035</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>503-419-3500</issuerPhoneNumber>
        <jurisdictionOfInc>OREGON</jurisdictionOfInc>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <edgarPreviousNameList>
            <value>None</value>
        </edgarPreviousNameList>
        <entityType>Limited Liability Company</entityType>
        <yearOfInc>
            <overFiveYears>true</overFiveYears>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Robert</firstName>
                <middleName>J</middleName>
                <lastName>Jesenik</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>5300 Meadows Rd</street1>
                <street2>Suite 400</street2>
                <city>Lake Oswego</city>
                <stateOrCountry>OR</stateOrCountry>
                <zipCode>97035</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Andrew</firstName>
                <middleName>N</middleName>
                <lastName>MacRitchie</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>5300 Meadows Rd</street1>
                <street2>Suite 400</street2>
                <city>Lake Oswego</city>
                <stateOrCountry>OR</stateOrCountry>
                <zipCode>97035</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Brian</firstName>
                <middleName>A</middleName>
                <lastName>Oliver</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>5300 Meadows Rd</street1>
                <street2>Suite 400</street2>
                <city>Lake Oswego</city>
                <stateOrCountry>OR</stateOrCountry>
                <zipCode>97035</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Patricia</firstName>
                <middleName>J</middleName>
                <lastName>Brown</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>5300 Meadows Rd</street1>
                <street2>Suite 400</street2>
                <city>Portland</city>
                <stateOrCountry>OR</stateOrCountry>
                <zipCode>97035</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Aequitas Capital Management Inc.</firstName>
                <lastName>Aequitas Capital Management Inc.</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>5300 Meadows Rd</street1>
                <street2>Suite 400</street2>
                <city>Lake Oswego</city>
                <stateOrCountry>OR</stateOrCountry>
                <zipCode>97035</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Manager</relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Other Banking and Financial Services</industryGroupType>
        </industryGroup>
        <issuerSize>
            <revenueRange>Decline to Disclose</revenueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>true</isAmendment>
                <previousAccessionNumber>9999999997-08-049384</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2006-01-04</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isDebtType>true</isDebtType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>50000</minimumInvestmentAccepted>
        <salesCompensationList></salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>Indefinite</totalOfferingAmount>
            <totalAmountSold>92825000</totalAmountSold>
            <totalRemaining>Indefinite</totalRemaining>
            <clarificationOfResponse></clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>347</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>0</dollarAmount>
            </salesCommissions>
            <findersFees>
                <dollarAmount>215000</dollarAmount>
                <isEstimate>true</isEstimate>
            </findersFees>
            <clarificationOfResponse>Occasionally ACF pays a finder's or referral fee as a percentage of the note purchase price paid by a note purchaser.</clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
            </grossProceedsUsed>
            <clarificationOfResponse></clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>AEQUITAS COMMERCIAL FINANCE LLC</issuerName>
                <signatureName>Andrew S. Craig</signatureName>
                <nameOfSigner>Andrew S. Craig</nameOfSigner>
                <signatureTitle>Secretary of Mgr.</signatureTitle>
                <signatureDate>2010-02-09</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----