<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE MARCH
31, 1996 FORM 10Q OF PMC COMMERCIAL TRUST AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               MAR-31-1996
<CASH>                                         173,946
<SECURITIES>                                16,830,812
<RECEIVABLES>                               63,341,691<F1>
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                     0
<PP&E>                                               0
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                              83,165,479<F2>
<CURRENT-LIABILITIES>                        4,664,510<F3>
<BONDS>                                     29,500,000
<COMMON>                                    49,144,887
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<OTHER-SE>                                   (143,918)
<TOTAL-LIABILITY-AND-EQUITY>                83,165,479
<SALES>                                              0
<TOTAL-REVENUES>                             1,906,786
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                               310,547
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                             251,769
<INCOME-PRETAX>                              1,344,470
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                          1,344,470
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                 1,344,470
<EPS-PRIMARY>                                     0.38
<EPS-DILUTED>                                     0.38
<FN>
<F1>Includes current and long-term portion of all loans receivable and related
interest receivable
<F2>Includes the following items not included above:
   (i)   Other assets, net               $   50,000
   (ii)  Deferred borrowing costs           357,754
   (iii) Restricted investments           2,411,276
                                         ----------
                                         $2,819,030
                                         ==========
<F3>Includes the following:
   (i)   Dividends payable               $1,310,166
   (ii)  Accounts payable                     5,859
   (iii) Interest payable                   227,921
   (iv)  Borrower advances                1,106,265
   (v)   Unearned Commitment fees           816,611
   (vi)  Due to affiliates                1,043,627
   (vii) Unearned construction
         monitoring fees                    154,061
                                         ----------
                                         $4,664,510
                                         ==========
</FN>