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


                               February 15, 2006
                               ------------
                               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 results
for the second quarter 2006.

A copy of the press release is attached hereto as Exhibit 99 and is
incorporated herein by reference.



Item 9.01.    Financial Statements and Exhibits

Press release, dated February 15, 2006.





                                   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: February 15, 2006


Exhibit Index


Exhibit
Number                   Description
- -------                  -----------
99                   Press Release dated September February 15, 2006

EX-99

For Immediate Release

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

             AMERITRANS REPORTS SECOND QUARTER FISCAL 2006 RESULTS

New  York, NY, February 15, 2006 - Ameritrans Capital Corporation (NASDAQ: AMTC,
AMTCP,  AMTCW)  today  reported financial results for the quarter ended December
31, 2005.  Ameritrans reported  a  net  loss  of  ($131,762) available to common
shareholders for the second quarter of fiscal year  2006 or ($0.06) versus a net
loss of ($411,615) or ($0.20) per basic and diluted common  share  for  the same
period  of  fiscal  year  2005.   On  an  operating basis, before payment of the
Company's preferred stock dividends, but after  provisions  for  income tax, the
Company  reported an operating loss of ($47,387) for the quarter ended  December
31, 2005,  compared  to an operating loss of ($327,240) during the quarter ended
December 31, 2004.

For the Company's second  fiscal  quarter,  total  investment  income was $1.356
million compared to $1.267 million during the prior comparable period.  Interest
income  increased  by $87,014 over the comparable prior period, while  fees  and
other income decreased by $20,038.  Leasing income decreased by $27,527 over the
comparable period.

The Company's net loan portfolio at December 31, 2005 was $50.5 million versus
$51.9 million at December 31, 2004.

Commenting on the results,  Gary C. Granoff, Ameritrans' president said, "During
the  second fiscal quarter December  31,  2005,  our  earnings  were  negatively
impacted  by  an  increase  in  our interest expense of $144,781 compared to our
interest expense for the second quarter ended December 31, 2004.    However, the
December  2005 quarter results show  savings  over  the  December  2004  quarter
results which  positively impacted our earnings in the following areas: salaries
and employee benefits were reduced by $10,550; professional fees were reduced by
$49,050; other administrative  expenses  were  reduced  by  $70,165; and overall
reductions in write off and depreciation on interest and loans  receivable  were
reduced  by  $189,765.   These  improvements  were  primarily  the  result of an
improving Chicago taxi portfolio."

Granoff  further stated "We are continuing to take steps to build our  loan  and
investment  portfolio.  In addition, during the quarter ended December, 31, 2005
we were positively  impacted  by  the  closing of the first round of our private
placement in early December, 2005, during  which the Company sold 657,620 common
shares and 164,405 warrants to purchase common  shares  for  gross  proceeds  of
$3,847,080  ($3,521,629  net  of expenses).    Subsequently, in January, 2006 an
additional 70,000 shares and an  additional 17,500 warrants were sold as part of
the  private placement for gross proceeds  of  $409,500.   The  new  capital  is
temporarily  being  utilized  by  the  Company  to reduce Elk Associates Funding
Corporation's bank debt, which will result in a short  term  savings in interest
expense.   As suitable loans and investments are located for Ameritrans,  it  is
the Company's intention to borrow the funds back from Elk's bank lines of credit
and repay the  funds from Elk to Ameritrans to permit Ameritrans to complete the
funding of its' proposed loans.



or investments.   Since  Ameritrans  is  able  to  make loans and investments in
transactions that do not have to comply with SBA Regulations,  the  Company  has
gained  an  advantage  of  being able to make or participate in a wider range of
loans and investments other  than  primarily  making  loans and investments that
satisfy applicable SBA Regulations."

Granoff added, "The Company's stockholders recently approved  the  extension  of
the Company's private placement to March 31, 2006."

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.





                AMERITRANS CAPITAL CORPORATION AND SUBSIDIARIES

                          CONSOLIDATED BALANCE SHEETS

                DECEMBER 31, 2005 (UNAUDITED) AND JUNE 30, 2005

                                    ASSETS



                                                                  December 31, 2005  June  30, 2005
                                                   			              

Loans receivable                                                    $ 50,750,739   $ 52,060,254
Less: unrealized depreciation on loans receivable                       (225,000)      (150,000)

      Loans receivable, net                                           50,525,739     51,910,254
Cash and cash equivalents                                                518,932        327,793
Accrued interest receivable, net of   unrealized
    deprecation of $36,800 and $59,000, respectively                     771,374        756,701
Assets acquired in satisfaction of  loans                                384,528        384,528
Receivables from debtors on sales of assets acquired
    in satisfaction of loans                                             406,850        455,184
Equity securities                                                        858,985        908,457
Furniture, equipment and leasehold improvements, net                     244,906        329,573
Medallions under lease                                                 2,224,701      2,282,201
Prepaid expenses and other assets                                        386,456        531,904

            TOTAL ASSETS                                            $ 56,322,471   $ 57,886.595












                AMERITRANS CAPITAL CORPORATION AND SUBSIDIARIES

                          CONSOLIDATED BALANCE SHEETS

                DECEMBER 31, 2005 (UNAUDITED) AND JUNE 30, 2005

                     LIABILITIES AND STOCKHOLDERS' EQUITY



                                                                    December 31, 2005    June 30, 2005
                                                                                              
LIABILITIES
   Debentures payable to SBA                                             $12,000,000     $12,000,000
   Notes payable, banks                                                   25,125,568      29,770,652
   Accrued expenses and other liabilities                                    492,214         604,942
   Accrued interest payable                                                  240,139         256,285
   Dividends payable                                                          84,375          84,375

TOTAL LIABILITIES                                                         37,942,296      42,716,254

COMMITMENTS AND CONTINGENCIES (Notes 3,4 and 5)

STOCKHOLDERS' EQUITY
   Preferred stock 500,000 shares authorized,
   none issued or outstanding
   9 3/8% cumulative participating callable
   preferred stock $.01 par value, $12.00
   face value, 500,000 shares authorized;                                  3,600,000       3,600,000
   300,000 shares issued and outstanding

Common stock, $0.0001 par value;
5,000,000 shares authorized; 2,703,220
and 2,045,600 shares issued and 2,693,220
and 2,035,600 shares outstanding at
December 31, 2005 and June 30, 2005,
respectively                                                                     270             205
       Additional paid-in-capital
                                                                          17,391,109      13,869,545
       Accumulated deficit                                                (2,334,327)     (2,127,134)
       Accumulated other comprehensive loss                                 (206,877)       (102,275)


                                                                          18,450,175      15,240,341
Less:  Treasury stock, at cost, 10,000 shares
       of common stock                                                       (70,000)        (70,000)

   TOTAL STOCKHOLDERS' EQUITY                                             18,380,175      15,170,341

   TOTAL LIABILITIES AND
   STOCKHOLDERS'EQUITY                                                    $56,322,471    $57,886,595










                AMERITRANS CAPITAL CORPORATION AND SUBSIDIARIES


                     CONSOLIDATED STATEMENTS OF OPERATIONS

FOR THE THREE MONTHS AND SIX MONTHS ENDED DECEMBER 31, 2005 AND 2004 (Unaudited)




                             	      Three Months Ended    Three Months Ended    Six Months     Six Months
                                       December 31,2005      December 31,2004       Ended          Ended
                                                                                   December       December
                                                                                   31,2005        31,2004
                                                                                        
INVESTMENT INCOME
   Interest on loans receivable           $1,241,722           $1,154,708        $2,391,505     $2,283,765
   Fees and other income                      68,649               88,687           150,950        189,227
   Leasing income                             46,269               73,796            95,737        125,333

  (Loss) gain on sale of securities             -                 (50,000)              -          (50,000)


TOTAL INVESTMENT INCOME                    1,356,640            1,267,191         2,638,192      2,548,325

OPERATING EXPENSES
   Interest                                  586,181              441,400         1,125,454        823,156
   Salaries and employee benefits            282,531              293,081           558,769        555 745
   Occupancy costs                            46,304               46,434           101,020         95,617
   Professional fees                         146,684              195,734           216,496        331,298
   Other administrative expenses             227,320              297,485           509,109        542,953

   Loss and impairments on assets
     acquired in satisfaction of loans, net    1,031               22,154             4,031         32,547
   Foreclosure expenses                       12,333                9,194            14,541         14,194
   Write off and depreciation on interest
   and loans receivable                       98,776              288,541           134,624        390,059


TOTAL OPERATING  EXPENSES                  1,401,160            1,593,623         2,664,044      2,785,569


OPERATING LOSS                               (44,520)            (326,432)          (25,852)      (237,244)


OTHER INCOME (EXPENSE)

Gain on sale of asset acquired                  -                   1,884              -             1,884
Loss on sale of automobiles                   (2,867)				    (2,867)
Equity in loss of investee                      -                  (2,010)             -            (4,021)


   TOTAL OTHER EXPENSE, net                   (2,867)                (126)          (2,867)         (2,137)
LOSS BEFORE PROVISION FOR
INCOME TAXES                                 (47,387)            (326,558)         (28,719)       (239,381)


PROVISION FOR INCOME TAXES                      -                     682            9,724           3,147
NET LOSS                                   $ (47,387)           $(327,240)         (38,443)       (242,528)


DIVIDENDS ON PREFERRED STOCK               $ (84,375)           $ (84,375)        (168,750)       (168,750)

NET LOSS AVAILABLE TO COMMON
SHAREHOLDERS				   $(131,762)           $(411,615)	 $(207,193)       (411,278)
WEIGHTED AVERAGE SHARES
OUTSTANDING
- - Basic                                    2,132,075            2,035,600        2,228,551       2,035,600
- -Diluted                                   2,132,075            2,035,600        2,228,551       2,035,600

NET LOSS PER COMMON SHARE
- - Basic                                    $   (0.06)              (0.20)           (0.09)          (0.20)
- - Diluted                                      (0.06)              (0.20)           (0.09)          (0.20)