8-K

                       U.S. 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


                               May 19, 2005
                               ------------
                               Date of Report
                        (Date of Earliest Event Reported)


                         AMERITRANS CAPITAL CORPORATION


             (Exact name of Registrant as specified in its charter)


            Delaware                   333-63951             52-2102424
 -------------------------------      -----------         ----------------
 (State or other jurisdiction of      (Commission         (I.R.S. Employee
 incorporation or organization)        File No.)            I.D. Number)

            747 Third Avenue, 4th Floor
                New York, New York                         10017
      ---------------------------------------           ----------
      (Address of principal executive offices           (Zip Code)

                                 (800) 214-1047
                            ------------------------
              (Registrant's telephone number, including area code)


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 (see General Instruction A.2. below):


[ ]   Written communications pursuant to Rule 425 under the
      Securities Act (17 CFR 230.425)

[ ]   Soliciting material pursuant to Rule 14a-12 under
      the Exchange Act(17CFR240.14a-12)

[ ]   Pre-commencement communications pursuant to Rule 14d-2(b)
      under the Exchange Act(17CFR240.14d-2(b))

[ ]   Pre-commencement communications pursuant to Rule 13e-4(c)
      under the Exchange Act(17CFR240.13e-4(c))


- --------------------------------------------------------------------------------


Items to be Included in this Report



Item 2.02.    Results of Operations and Financial Condition

Ameritrans Capital Corporation (the "Company") issued a press release to
the news media announcing, among other things, the Company's investment in
Potomac Suites, LLC and the development regarding the property investment.

A copy of the press release is attached hereto as Exhibit 99.1 and is
incorporated herein by reference.




Press release, dated May 19, 2005.





                                   SIGNATURES

         Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly authorized and caused the undersigned to sign this
Report on the Registrant's behalf.

                                           AMERITRANS CAPITAL CORPORATION


                                           By: /s/  Gary C. Granoff
                                              ---------------------------------
                                                Name:  Gary C. Granoff
                                                Title: President,
                                                Chief Executive Officer,
                                                Chief Financial Officer

Dated:  May 19, 2005


Exhibit Index


Exhibit
Number                   Description
- -------                  -----------
99.1                     Press Release dated May 19, 2005

EX-99

  For Immediate Release

  FROM:
  Ameritrans Capital Corporation
  For more information Contact:
  Gary Granoff
  (800) 214-1047


  AMERITRANS ANNOUNCES DEVELOPMENT WITH ARLINGTON, VIRGINIA PROPERTY INVESTMENT


New York, NY, May 19, 2005 - Ameritrans Capital Corporation (NASDAQ:AMTC,AMTCP)
announced today certain information with respect to one of its portfolio
investments. Ameritrans stated that it purchased, through its wholly-owned
subsidiary Elk Associates Funding Corporation, a membership interest in
Potomac Suites, LLC in December 2002 for $310,000 out of an aggregate financing
of approximately $2.39 million.  The proceeds were used to acquire a hotel in
Arlington, Virginia which was operated as a short-term suite hotel.  The hotel
consists of 56 apartments and was built in the 1960's as an apartment building.

During calendar year 2004, Ameritrans received a distribution of $58,125 as a
return of capital due to a refinancing of the property.  In the fall of 2004,
the managing member determined that due to the increased value of condominium
units in the Arlington, Virginia area, it would be advantageous to convert the
property into renovated condominium units and offer those units for sale.
The hotel was then closed for renovation and the managing member entered into
purchase agreements with third party buyers for the purchase of 100% of the
condominium units.


Ameritrans was recently notified by the managing member that as of May 9, 2005
Potomac Suites, LLC had closed on 23 condominium units. The managing member
also advised that it had paid all the outstanding indebtedness on the property
from the sale proceeds and that it is scheduled to close on the remaining
33 units by June 8, 2005. Thereafter, the managing member intends to distribute
to Ameritrans $251,875 as a return of capital plus Ameritrans' share of the
profits after making adjustments for certain operating expenses.

Gary Granoff, President of Ameritrans stated, "We are pleased with the timing
and the results of our Potomac Suites investment, which we anticipate to be
very profitable after the necessary expense adjustments have been made by the
managing member.  This advances Ameritrans' efforts to diversify its portfolio
and to take advantage of opportunistic investments. We plan to continue to seek
these opportunities in the future."


Ameritrans Capital Corporation is a specialty finance company engaged in making
loans to and investments in small businesses.  Ameritrans' wholly owned
subsidiary Elk Associates Funding Corporation was licensed by the United
States Small Business Administration as a Small Business Investment Company
(SBIC) in 1980.  The Company maintains its offices at 747 Third Avenue,
4th Floor, New York, New York 10017.

THIS ANNOUNCEMENT CONTAINS FORWARD-LOOKING STATEMENTS WITHIN THE MEANING OF THE
PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995.  SUCH STATEMENTS ARE SUBJECT
TO CERTAIN RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER
MATERIALLY FROM THOSE PRESENTLY ANTICIPATED OR PROJECTED. AMERITRANS CAPITAL
CORPORATION CAUTIONS INVESTORS NOT TO PLACE UNDUE RELIANCE ON FORWARD-LOOKING
STATEMENTS, WHICH SPEAK ONLY AS TO MANAGEMENT'S EXPECTATIONS ON THIS DATE.