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


                               December 6, 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 the Company's initial closing of its private offering

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




Press release, dated December 6, 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:  December 6, 2005


Exhibit Index


Exhibit
Number                   Description
- -------                  -----------
99.1                    Press Release dated December 6, 2005

EX-99

For Immediate Release

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

            AMERITRANS ANNOUNCES INITIAL CLOSING OF PRIVATE OFFERING

New  York,  NY, December 6, 2005 - Ameritrans Capital Corporation (NASDAQ: AMTC,
AMTCP) today announced that the Company completed an initial closing pursuant to
its July 29,  2005  private  offering  of  the  Company's shares of common stock
$.0001 par value to a limited number of "accredited  investors," as that term is
defined in Rule 506 of Regulation D, promulgated under  the  Securities  Act  of
1933, as amended.  The Company issued 653,347 shares for gross proceeds totaling
$3,822,080.   For  every  four  (4)  shares purchased, the Company issued to the
investors one (1) warrant, exercisable  for  five  (5)  years  from  the date of
issuance, to purchase one (1) share at an exercise price of $6.44 per  share.  A
total  of  163,336  warrants  were issued.  The securities sold in this offering
have not been registered with the  Securities Exchange Commission and may not be
offered  or  sold in the United States  absent  registration  or  an  applicable
exemption from registration requirements.

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, NY 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.