We have observed the nearby spiral galaxy NGC6503 using Chandra. Seven discrete sources associated with the galaxy have been found, one of them coincident with its Liner-starburst nucleus. One of the sources corresponds to a ULX with Lx >~ 10e39 ergs/s. Previous ROSAT observations of the galaxy show that this source has varied by at least a factor 3 in the last 6 years. No evidence is found for strong diffuse emission in the nuclear region or the presence of a low luminosity AGN.