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 11, 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



Items  5.02, 5.03 and 8.01   Election of Directors, Amendment
to Certificate of Incorporation and Other Events

Ameritrans Capital Corporation (the "Company") issued a press release to
the news media announcing the results of the annual meeting of the shareholders
that took place on May 9, 2006

A Copy of the Press Release is attached hereto as Exhibit 99
 and is incorporated herein by reference.

The information furnished is not deemed "filed" for
 purposes of Section 18 of the Securities Exchange Act
 of 1934, as amended, is not subject to the
liabilities of that section and is not deemed
 incorporated by reference in any
filing under the Securities Act of 1933, as amended.









                                   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 11, 2006


Exhibit Index


Exhibit
Number                   Description
- -------                  -----------
99                     Press Release dated May 9, 2006

EX-99

For Immediate Release

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




Ameritrans Announces Election of Directors and
Amendment to its Certificate of Incorporation


New York, NY, May 9, 2006 Ameritrans Capital Corporation (NASDAQ: AMTC, AMTCP)
today hosted its annual meeting of shareholders.  As part of the annual
meeting, the shareholders elected eleven members to serve on the Company's
Board of Directors: Steven Etra, Michael Feinsod, Wesley Finch,
Gary C, Granoff, Murray A. Indick, Allen Kaplan, John R. Laird,
Howard Sommer, Heidi Sorvino, Ellen M. Walker, and Ivan J. Wolpert.
Each of the Directors will serve on the Company's Board of Directors until
the Company's 2007 annual meeting of shareholders, which is anticipated for
the Spring of 2007.

The shareholders also approved amending the Company's Certificate of
Incorporation to increase the number of authorized shares of common stock of
the Company from 5,000,000 shares to 10,000,000 shares.

The amendment to the Certificate of Incorporation was filed with the Delaware
Secretary of State on Tuesday, May 9, 2006 and became effective immediately
upon filing.

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.