SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* GRANOFF GARY C (Last) (First) (Middle) ELK ASSOCIATES FUNDING CORP 830 THIRD AVENUE, 8TH FLOOR (Street) NEW YORK NY 10022 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol AMERITRANS CAPITAL CORP [ AMTC ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X Director X 10% Owner X Officer (give title below) Other (specify below) Managing Director
	3. Date of Earliest Transaction (Month/Day/Year) 12/20/2010
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock, $.0001 par value	12/20/2010		S		8,400	D	$1.075	144,780	D
Common Stock, $.0001 par value								16,900	I	See footnotes(1)(2)
Common Stock, $.0001 par value								261	I	See footnotes(1)(3)
Common Stock, $.0001 par value								78,584	I	See footnotes(1)(4)
Common Stock, $.0001 par value								12,000	I	See footnotes(1)(5)
Common Stock, $.0001 par value								71,979	I	See footnotes(1)(6)
Common Stock, $.0001 par value								6,000	I	See footnotes(1)(7)
Common Stock, $.0001 par value								12,937	I	See footnotes(1)(8)
Common Stock, $.0001 par value								4,000	I	See footnote(9)
9 3/8% Cumulative Participating Redeemable Preferred Stock								3,478	I	See footnotes(1)(6)
9 3/8% Cumulative Participating Redeemable Preferred Stock								500	I	See footnotes(1)(4)
9 3/8% Cumulative Participating Redeemable Preferred Stock								1,000	I	See footnotes(1)(5)
9 3/8% Cumulative Participating Redeemable Preferred Stock								1,000	I	See footnotes(1)(8)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The reporting person disclaims beneficial ownership of all such shares except to the extent of his pecuniary interest therein as determined in accordance with Rule 16a-2(a)(2) promulgated under the Securities Exchange Act of 1934, as amended.

2. These shares are held by the Granoff Family Foundation, a charitable foundation of which the reporting person and his two brothers serve as trustees.

3. These shares are held by GCG Associates Inc., a corporation controlled by the reporting person.

4. These shares are held by DAPARY Management Corp., a corporation controlled by the reporting person.

5. These shares are held by J&H Associates Ltd. Pts., a partnership whose general partner is GCG Associates Inc., a corporation controlled by the reporting person.

6. These shares are held in the reporting person's IRA or pension accounts.

7. These shares are held in an irrevocable qualified subschapter S trust for the benefit of the reporting person's son, of which the reporting person is the trustee.

8. These shares are held by Leslie Granoff, the reporting person's wife.

9. These shares are held by Citicorp Trust NA Florida, as successor Co-Trustee with Gary Granoff, of the Jeannette Granoff Trust U/A DTD 4/19/94 as a result of the recent death of Jeannette Granoff.

Remarks:

	/s/ Gary C. Granoff	12/22/2010
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.