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<P align="center" style="font-size: 14pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
<FONT style="font-size: 12pt">Washington, D.C. 20549
</FONT></B>

<P align="center" style="font-size: 18pt"><B>FORM 8-K</B>

<P align="center" style="font-size: 12pt"><B>CURRENT REPORT<BR>
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</B>

<P align="center" style="font-size: 10pt"><B>Date of Report (Date of earliest event reported): December 16, 2008</B>

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<P align="center" style="font-size: 24pt"><B>PMC COMMERCIAL TRUST<BR></B>
<FONT style="font-size: 10pt">(Exact name of registrant as specified in its charter)
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    <TD width="32%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
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    <TD style="border-bottom: 1px solid #000000"><B>TEXAS</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>1-13610</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>75-6446078</B></TD>
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<TR valign="top">
    <TD>(State or other Jurisdiction of Incorporation)</TD>
    <TD>&nbsp;</TD>
    <TD>(Commission File Number)</TD>
    <TD>&nbsp;</TD>
    <TD>(IRS Employer Identification No.)</TD>
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    <TD style="border-bottom: 1px solid #000000"><B>17950 Preston Road, Suite 600, Dallas, TX<BR></B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>75252</B></TD>
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    <TD>(Address of Principal Executive Offices)</TD>
    <TD>&nbsp;</TD>
    <TD>(Zip Code)</TD>
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<P align="center" style="font-size: 10pt">Registrant&#146;s telephone number, including area code: <B>(972) 349-3200</B>


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    <TD nowrap>(Former name or former address if changed since last report.)</TD>
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<P align="left" style="font-size: 10pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:

<P align="left" style="font-size: 10pt">
<FONT face="Wingdings">&#111;</FONT> Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<BR>


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<P align="justify" style="font-size: 10pt"><B>Item&nbsp;7.01 Regulation&nbsp;FD Disclosure.</B>


<P align="justify" style="font-size: 10pt; text-indent: 4%">On December&nbsp;16, 2008, PMC Commercial Trust issued a press release announcing that its Board of Trust Managers (the
&#147;Board&#148;) declared a regular quarterly dividend of $0.225 per common share, payable on January&nbsp;12, 2009 to shareholders
of record on December&nbsp;31, 2008. In addition, the Board declared a 2008&nbsp;year-end special dividend for common
shareholders of $0.14 per share.


<P align="justify" style="font-size: 10pt; text-indent: 4%">The information disclosed under this Item&nbsp;7.01, including exhibit 99.1 hereto, is being furnished and shall not be
deemed &#147;filed&#148; for purposes of Section&nbsp;18 of the Securities Exchange Act of 1934, as amended (the &#147;Exchange Act&#148;) or
otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing
under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference
in such a filing.


<P align="justify" style="font-size: 10pt"><B>Item&nbsp;9.01 Financial Statements and Exhibits.</B>


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    <TD width="3%" nowrap align="left">99.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">Press Release dated December&nbsp;16, 2008.*</DIV></TD>
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    <TD width="3%" nowrap align="left">*</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">&nbsp;&nbsp;Furnished herewith</DIV></TD>
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<P align="center" style="font-size: 10pt"><B>SIGNATURE</B>



<P align="justify" style="font-size: 10pt">Pursuant to the requirements of Section&nbsp;13 or 15 (d)&nbsp;of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned thereunto duly authorized.


<P align="justify" style="font-size: 10pt">Date: December&nbsp;17, 2008


<P align="justify" style="font-size: 10pt; margin-left: 45%"><B>PMC COMMERCIAL TRUST</B>


<P align="justify" style="font-size: 10pt; margin-left: 45%">By: <U><B>/</B>s/ Barry N. Berlin&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </U><BR>
Barry N. Berlin, Chief Financial Officer<BR>

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<P align="center" style="font-size: 10pt"><B>EXHIBIT INDEX</B>



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<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">99.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">Press Release dated December&nbsp;16, 2008.*</DIV></TD>
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<P align="center" style="font-size: 10pt; display: none">4




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{"company-data": {"conformed-name": "PMC COMMERCIAL TRUST /TX", "cik": "0000908311", "assigned-sic": "6798", "irs-number": "756446078", "state-of-incorporation": "TX", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-13610", "film-number": "081254235"}, "business-address": {"street1": "17950 PRESTON RD", "street2": "SUITE 600", "city": "DALLAS", "state": "TX", "zip": "75252", "phone": "972-349-3200"}, "mail-address": {"street1": "17950 PRESTON RD", "street2": "SUITE 600", "city": "DALLAS", "state": "TX", "zip": "75252"}}
Filed by Bowne Pure Compliance
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 16, 2008
PMC COMMERCIAL TRUST
(Exact name of registrant as specified in its charter)
TEXAS
1-13610
75-6446078
(State or other Jurisdiction of Incorporation)
(Commission File Number)
(IRS Employer Identification No.)
17950 Preston Road, Suite 600, Dallas, TX
75252
(Address of Principal Executive Offices)
(Zip Code)
Registrant's telephone number, including area code:
(972) 349-3200
NONE
(Former name or former address if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:
o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 7.01 Regulation FD Disclosure.
On December 16, 2008, PMC Commercial Trust issued a press release announcing that its Board of Trust Managers (the
"Board") declared a regular quarterly dividend of $0.225 per common share, payable on January 12, 2009 to shareholders
of record on December 31, 2008. In addition, the Board declared a 2008 year-end special dividend for common
shareholders of $0.14 per share.
The information disclosed under this Item 7.01, including exhibit 99.1 hereto, is being furnished and shall not be
deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act") or
otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing
under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference
in such a filing.
Item 9.01 Financial Statements and Exhibits.
99.1
Press Release dated December 16, 2008.*
*
Furnished herewith
SIGNATURE
Pursuant to the requirements of Section 13 or 15 (d) of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
Date: December 17, 2008
PMC COMMERCIAL TRUST
By:
/
s/ Barry N. Berlin
Barry N. Berlin, Chief Financial Officer
EXHIBIT INDEX
99.1
Press Release dated December 16, 2008.*