SECURITIES AND EXCHANGE COMMISSION
                             Washington, DC 20549

                                 FORM 12b-25

                          Notification of Late Filing

                         Commission File No.: 000-29049
                                   -------
(Check one)

[ ]  Form 10-K and Form 10-KSB
[ ]  Form 11-K
[ ]  Form 20-F
[X]  Form 10-Q and Form 10-QSB
[ ]  Form N-SAR

     For the period ended June 30, 2003

 [ ]  Transition Report on Form 10-K and Form 10-KSB
 [ ]  Transition Report on Form 20-F
 [ ]  Transition Report on Form 11-K
 [ ]  Transition Report on Form 10-Q and Form 10-QSB
 [ ]  Transition Report on Form N-SAR

         For the transition period ended______________.

Nothing  in this  form  shall be  construed  to imply  that the  Commission  has
verified any information contained herein.

If the notification  relates to a portion of the filing checked above,  identify
the item(s) to which notification relates:


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                                     PART I

                             REGISTRANT INFORMATION

Full name of registrant:           Silverado Financial, Inc.

Address of principal
executive office:                  1475 S. Bascom Avenue, Suite 210


City, State and Zip Code:          Campbell, CA 95008


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                                    PART II

                             RULE 12b-25(b) and (c)

     If the subject  report could not be filed  without  unreasonable  effort or
expense  and  the  registrant  seeks  relief  pursuant  to Rule  12b-25(b),  the
following should be completed. (Check appropriate box.)


     [X] (a) The reasons  described in detail in Part III of this form could not
be eliminated without unreasonable effort or expense;


     [X] (b) The subject annual report, semi-annual report, transition report of
Forms 10-K, 10- KSB, 20-F,  11-K or Form N-SAR, or portion thereof will be filed
on or before the 15th  calendar day following  the  prescribed  due date; or the
subject  quarterly  report or  transition  report on Form 10-Q,  */10-  QSB,  or
portion  thereof will be filed on or before the fifth calendar day following the
prescribed due date; and


     [ ] (c) The  accountant's  statement  or  other  exhibit  required  by Rule
12b-25(c) has been attached if applicable.

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                                    PART III

                                    NARRATIVE


     State below in reasonable detail the reasons why Forms 10-K, 10-KSB,  11-K,
20-F, 10-Q,  10-QSB,  N-SAR or the transition report portion thereof could * not
be filed within the prescribed time period. (Attach extra sheets if needed.)


     The Registrant's annual report on Form 10-KSB could not be filed within the
prescribed time period because the financial  statements required to be prepared
by the Registrant's independent auditor were not completed and made available to
the Registrant in time for the annual report to be filed in a timely manner.


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                                    PART IV

                               OTHER INFORMATION

     (1) Name and  telephone  number  of  person  to  contact  in regard to this
notification:

             Albert Golusin               (408)           371-2301
           -----------------           -----------   ------------------
                (Name)                 (Area Code)   (Telephone Number)

     (2) Have all other periodic  reports  required under Section 13 or 15(d) of
the Securities  Exchange Act of 1934 or Section 30 of the Investment Company Act
of 1940  during the  preceding  12 months or for such  shorter  period  that the
registrant was required to file such report(s) been filed?  If the answer is no,
identify report(s).

                             [X]  YES  [ ]  No

     (3) Is it anticipated that any significant  change in results of operations
from the corresponding  period for the last fiscal year will be reflected by the
earnings statements to be included in the subject report or portion thereof?

                             [ ]  YES  [X]  No

     If so, attach an explanation of the anticipated  change,  both  narratively
and  quantitatively,  and, if  appropriate,  state the reasons why a  reasonable
estimate of the results cannot be made.


Exhibits
---------
None

                            Silverado Financial, Inc.
                       ----------------------------------
                  (Name of Registrant as Specified in Charter)

     Has caused this  notification to be signed on its behalf by the undersigned
thereunto duly authorized.



                                                By:  /s/ Albert Golusin
Date August 13, 2003                              ----------------------------
                                                         Albert Golusin
                                                         Chief Financial Officer