<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
MARCH 31, 1998 FORM 10-Q OF PMC COMMERCIAL TRUST AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               MAR-31-1998
<CASH>                                             466
<SECURITIES>                                       283
<RECEIVABLES>                                  113,966<F1>
<ALLOWANCES>                                      (70)
<INVENTORY>                                          0
<CURRENT-ASSETS>                                     0
<PP&E>                                               0
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                                 116,401<F2>
<CURRENT-LIABILITIES>                            6,383<F3>
<BONDS>                                         16,754
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                        93,948
<OTHER-SE>                                       (684)
<TOTAL-LIABILITY-AND-EQUITY>                   116,401
<SALES>                                              0
<TOTAL-REVENUES>                                 3,504
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                                   444
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                 405
<INCOME-PRETAX>                                  2,655
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                              2,655
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     2,655
<EPS-PRIMARY>                                     0.41
<EPS-DILUTED>                                     0.41
<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           $   43
(ii)   Deferred borrowing costs       206
(iii)  Restricted investments       1,507
                                   ------
                                   $1,756
                                   ======
<F3>Includes the following items not included above:
(i)    Dividends payable           $2,830
(ii)   Other liabilities              220
(iii)  Interest payable               154
(iv)   Borrower advances            1,511
(v)    Unearned commitment fees       838
(vi)   Due to affiliates              774
(vii)  Unearned construction             
       monitoring fees                 56
                                   ------
                                   $6,383
                                   ------
</FN>