<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE MARCH
31, 1997 FORM 10Q OF PMC COMMERCIAL TRUST AND IS QUALIFED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-01-1997
<PERIOD-END>                               MAR-31-1997
<CASH>                                              18
<SECURITIES>                                    13,397
<RECEIVABLES>                                  104,806<F1>
<ALLOWANCES>                                      (20)
<INVENTORY>                                          0
<CURRENT-ASSETS>                                     0
<PP&E>                                               0
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                                 121,818<F2>
<CURRENT-LIABILITIES>                            8,367<F3>
<BONDS>                                         26,408
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                        87,667
<OTHER-SE>                                       (624)
<TOTAL-LIABILITY-AND-EQUITY>                   121,818
<SALES>                                              0
<TOTAL-REVENUES>                                 3,164
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                                   396
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                 444
<INCOME-PRETAX>                                  2,324
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                              2,324
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     2,324
<EPS-PRIMARY>                                     0.38
<EPS-DILUTED>                                     0.38
<FN>
<F1>Includes current and long-term portion of all loans receivable - before reserve
and related interest receivable.
<F2>Includes the following items not included above:
(i)   Other assets, net                $     19
(ii)  Deferred borrowing costs              401
(iii) Restricted investments              3,197
                                       --------
                                       $  3,617
                                       ========
<F3>Includes the following:items not included above:
(i)    Dividends payable                $ 2,466
(ii)   Other liabilities                    141
(iii)  Interest payable                     148
(iv)   Borrower advances                  3,905
(v)    Unearned Commitment fees           1,184
(vi)   Due to affiliates                    370
(vii)  Unearned construction
       monitoring fees                      153
                                        -------
                                        $ 8,367
                                        =======
</FN>