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

August 4, 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  File No.)

       I.R.S. Employee I.D. Number)

incorporation or organization)

____________________________________________________________________________________

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 8.01.    Other

Ameritrans Capital Corporation (the "Company") issued a press release to the news media announcing the appointment of Wesley Finch to the Audit Committee of the Company in response to a letter from NASDAQ.

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.

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

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: August 4, 2006

Exhibit Index

Exhibit

Number                   Description

99.1                     Press Release dated August 4, 2006

EX-99

UUUFor Immediate Release

From:

Ameritrans Capital Corporation

For more information contact:

Gary C. Granoff

(800) 214-1047

Ameritrans Announces New Audit Committee Member

New York, NY, August 4, 2006 – Ameritrans Capital Corporation (NASDAQ: AMTC, AMTCP) today announced that Wesley Finch is the newest member of the Audit Committee of Ameritrans.  On July 24, 2006 Ameritrans received a letter from NASDAQ informing them that Ameritrans was not in compliance with the NASDAQ Marketplace Rules regarding audit committees.  The Board of Directors of Ameritrans immediately appointed Wesley Finch, an independent director, to the Ameritrans Audit Committee in order to comply with the NASDAQ Marketplace Rules requiring three members to its Audit Committee.  On July 27, 2006, the NASDAQ Listing Qualifications Department notified Ameritrans that it was in compliance with the NASDAQ Marketplace Rules.

Wesley Finch was elected to the Board of Directors of the Ameritrans in September 2002. Mr. Finch earned his bachelors degree in accounting from the Bernard M. Baruch School of the City College of New York, and is a non-practicing certified public accountant ..

# # #

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.